Crude oil
EIA: US crude stockpiles rise in week, defying expectations
NEW YORK (Reuters) — US crude stocks rose unexpectedly last week as imports increased, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
Magellan Midstream hits full capacity at Corpus Christi condensate splitter
HOUSTON (Reuters) — Magellan Midstream Partners said on Tuesday that its condensate splitter in Corpus Christi, Texas, reached maximum processing capacity of 50,000 bpd after being knocked offline because of Hurricane Harvey.
Indian Oil Corp starts crude oil trading through Singapore subsidiary
NEW DELHI (Reuters) — India’s top refiner Indian Oil Corp on Wednesday began trading crude oil through its Singapore unit, buying a million barrels of Nigerian oil Akpo, the state-run company’s head of finance AK Sharma said.
OPEC says electric vehicles could lead oil demand to plateau in 2030s
LONDON (Reuters) — A rapid adoption of electric vehicles could cause world oil demand to reach a plateau in the second half of the 2030s, OPEC said in a report, a potential setback for the oil exporter group's longer-term prospects.
Kinder Morgan Canada denied expedited appeal for oil pipeline
CALGARY, Alberta (Reuters) — Canada's National Energy Board (NEB) will take until at least Dec. 4 to review Kinder Morgan Canada Ltd's appeal over its Trans Mountain oil pipeline expansion, the regulator said on Tuesday, rejecting the company's proposed "expedited" timeline.
China sets 2018 non-state crude oil import quota 55% higher than 2017
BEIJING (Reuters) — China has raised its 2018 crude oil import quota for "non-state trade," generally meaning independent refiners, by 55% over 2017, raising the clout of the independents in the global market after a setback this year.
Sulphur ’17: Oil and gas market outlook
ATLANTA — James Preciado, liquid fuel markets team leader, US Energy Information Administration (EIA), spoke about an “in-balance” global oil market, but at what price, during the CRU Group’s Sulphur 2017 conference in Atlanta. In Q4 2017, the market is tight, but in future years oil may need to go over $100/bbl to meet supply demands.
OPEC sees slower growth in demand for its oil as rivals pump more
LONDON (Reuters) — Global demand for OPEC's crude will rise in the next two years more slowly than expected, the group forecast, as a recovery in prices resulting from an OPEC-led supply cut stimulates renewed output growth from non-members.
Oil at $70/bbl already a reality for some as Asian premium bites
SINGAPORE (Reuters) — The rising demand for crude oil that can more easily produce transportation fuels when refined has some Australian and Malaysian producers boasting cargoes valued at close to $70/bbl, a hefty premium to global benchmarks.
Nigeria supports OPEC cut extension under ‘the right terms’
ABUJA (Reuters) — Nigeria supports an extension of a deal between OPEC, Russia and other non-members to cut oil supply until the end of 2018 "as long as the right terms are on the table" regarding its own participation, its oil minister said.
- AVTL to develop ammonia terminal in Pipavav, India 6/20
- Chevron seeks buyers for 50% stake in Singapore refinery 6/20
- Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict 6/20
- Mexican authorities discover clandestine mini-refinery in crackdown of illegal hydrocarbon trade 6/20
- Italy's Eni eyes new unit to manage oil refineries 6/20
- Inatech's Techoil implemented by Flint Hills Resources for a modern, integrated future 6/20
