Crude oil
Iraq's oil exports in June near May level, oil minister says
BASRA, Iraq (Reuters) — Iraq's oil exports from fields owned by the central government in Baghdad are at around 3.27 MMbpd so far in June, about the same level as in May, Oil Minister Jabar al-Luaibi said on Thursday.
Petrobras revives plan for IPO of fuel distribution unit
SAO PAULO (Reuters) — Petróleo Brasileiro SA is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday.
China, India, Japan hamper Asia oil demand growth, efforts to balance market
SINGAPORE (Reuters) — As the global oil market frets about a stubborn supply glut, faltering demand growth in key Asian crude importers is further hampering efforts to restore market balance.
Russia's Rosneft works on new strategy, plans to hike dividends
SOCHI, Russia (Reuters) — Igor Sechin, the head of Russia's state-controlled and largest oil producer Rosneft, said on Thursday the company was working on a new strategy to counter the challenges of the global oil market and planned to pay higher 2017 dividends.
Traders test OPEC ‘whatever it takes’ resolve to defend oil price
SINGAPORE/LONDON (Reuters) — When OPEC leader Saudi Arabia pledged in May to do "whatever it takes" to defend world oil prices, it didn't expect the market to be testing its resolve just one month later.
EIA: US crude, petroleum product exports rising, trends vary across products
US total crude oil and petroleum product exports more than doubled from 2.4 MMbpd in 2010 to 5.2 MMbpd in 2016. While exports of distillate, gasoline, propane and crude oil have all contributed to the increase, growth rates and market drivers for each product have varied during this period.
Oil headed for weakest first-half performance in two decades
LONDON (Reuters) — Oil was mostly flat on Wednesday, after paring earlier losses, but was set for its biggest price drop in the first half of the year since 1997, a sign that investors are discounting evidence that major producers are sticking to a deal to cut output.
Report: Oil firms could waste trillions if climate targets reached
LONDON (Reuters) — Energy giants including ExxonMobil and Royal Dutch Shell risk wasting more than a third of their budgets on projects that will not be needed if climate targets are to be met, a thinktank report shows.
Fuel oil margins rise to five-year high, potential boon for simple refiners
SINGAPORE (Reuters) — Fuel oil profit margins have surged to their highest in more than 5 yr on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs.
Oil prices hit seven-month lows on global oversupply
LONDON (Reuters) — Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
