Crude oil
Enterprise: US oil exports to meet 5% of non-US global demand by 2022
SINGAPORE (Reuters) — Crude oil exports from the United States will increase to meet 5% of global demand by 2022, as refiners seek more low-sulfur crude to meet stricter rules for cleaner fuels, an executive from Enterprise Partners LP said on Monday.
S.Korean fuel oil exports to China rise, dent shipments from Singapore
SINGAPORE (Reuters) — Two South Korean refiners are exporting excess cargoes of residual fuel oil to nearby China, displacing some Singaporean sales of the commodity which can be used in ships and power stations, three trade sources said.
OPEC says winning battle to curb oil glut
VIENNA (Reuters) — OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday.
EIA: Changing quality mix affecting crude oil price differentials, refining decisions
Growth in global liquid fuels supply since March 2017 has been driven by increases in the production of historically higher-priced light crude oils. This growth has more than offset recent declines in the production of medium and heavy crude oils. As these production trends continue, price differences between certain crude oils are narrowing, and refinery operation decisions are changing.
Energy contract lawsuits expected to jump in Harvey's wake
HOUSTON (Reuters) — Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of US fuel output and pushing some oil production offline.
Russia set to pipe more oil to China, stepping up race with Saudis
BEIJING/MOSCOW (Reuters) — Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January, likely cementing Russia's position as China's largest oil supplier in a close race with Saudi Arabia.
ADNOC to cut November crude oil exports to Asia
SINGAPORE (Reuters) — Abu Dhabi National Oil Company has informed buyers in Asia it will reduce supplies of its flagship Murban crude by 15% in November to comply with OPEC production cuts, trade sources said on Wednesday.
Oil up 2% despite US crude build; set for best Q3 since 2004
NEW YORK (Reuters) — Oil prices rose nearly 2% on Wednesday, despite a rise in US crude inventories, with the market heading for its largest third-quarter gain in 13 yr after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.
Maersk sells oil tankers to owner, opening door to Mitsui
COPENHAGEN (Reuters) — A.P. Moller-Maersk has agreed a $1.71 B deal to sell its oil tanker division to its controlling shareholder, who in turn will enter an ownership consortium with Japan's Mitsui & Co.
Oryx Midstream to build regional crude oil transport pipeline in Delaware Basin
MIDLAND, Texas — Oryx Midstream Services II, LLC announced that it will build a new regional crude oil transportation pipeline serving the Delaware Basin with initial capacity of up to 400,000 bpd.
- 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
