Crude oil
IEA sees Southeast Asia oil demand growing until at least 2040
SINGAPORE (Reuters) — Southeast Asian demand for oil will keep growing until at least 2040 as emerging nations there rely on the fossil fuel to transport their rapidly growing populations, ship goods and make plastics, the International Energy Agency said on Tuesday.
Noble Group to sell oil liquids unit to Vitol, flags $1.2 B loss
SINGAPORE (Reuters) — Struggling commodities trader Noble Group agreed to sell its Americas-focused oil trading business to Vitol for about $580 MM as part of a debt-cutting strategy, and warned of a big loss for its third quarter.
Saudi determined to end oil glut, sees smooth exit for OPEC pact
RIYADH (Reuters) — The world's top oil exporter Saudi Arabia is determined to reduce inventories further through an OPEC-led deal to cut crude output and raised the prospect of prolonged restraint once the pact ends to prevent a buildup in excess supplies.
ExxonMobil acquires crude oil terminal to serve Permian Basin production
HOUSTON — ExxonMobil Corporation announced that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP.
Venezuela's deteriorating oil quality riles major refiners
CARACAS/HOUSTON (Reuters) — Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors.
Storm in western Canada temporarily disrupts crude pipelines
CALGARY, Alberta (Reuters) — Two crude oil pipelines in western Canada were shut down temporarily on Wednesday, the day after stormy weather caused power outages in parts of Alberta and Saskatchewan.
OPEC seeking consensus on oil supply cut extension before meeting
LONDON (Reuters) — Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC's secretary general said on Thursday, with the potential for continuation throughout 2018 forming a basis for talks.
EIA: Crude oil, petroleum product exports reach record levels in H1 2017
Crude oil exports in the first half of 2017 increased by more than 300,000 bpd from the first half of 2016 to 784,000 bpd, a 57% increase. Petroleum product exports also grew over the same period. Crude oil and propane exports each reached record highs of 0.9 MMbpd, and distillate exports reached a record high of 1.3 MMbpd.
Mexico's Pemex fires warehouse workers for oil theft
MEXICO CITY (Reuters) — Mexican state oil company Petroleos Mexicanos (Pemex) said on Tuesday it would rescind contracts held by several workers at a warehouse and distribution center in the central state of Guanajuato as part of a strategy to combat oil theft.
S.Korea plan to ease oil-blending rules to take effect from Thurs
SEOUL (Reuters) — South Korea said on Wednesday that its plan to ease blending restrictions at oil storage terminals would come into effect on Thursday, as the government continues its push to boost international oil trading in the country.
- INEOS to invest €250 MM in Lavera cracker modernization project in France 11/19
- BASF adds ISCC EU certification to certified biomass-balanced methanol portfolio 11/19
- Siam Cement to invest an additional $500 MM in Long Son chemical complex 11/19
- LanzaJet produces first jet fuel from ethanol at a commercial scale 11/19
- Ducor Petrochemicals, Blue Circle Olefins partner to create a fully circular supply chain for polypropylene 11/18
- World's first: Air Liquide’s innovative technology converts ammonia into hydrogen at industrial scale 11/18
