New Shell Plant Highlights Strength of Rotterdam’s Breakbulk Cluster
Shell has an ambitious investment agenda for its refinery in Pernis. The construction of a new Solvent Deasphalter (SDA) will enable the plant to separate heavier fractions from crude oil, so that a larger share of the petroleum can be processed into lighter, high-grade products. However, before this innovative unit can enter into full service later on in the year…
Tankers Queue at PDVSA Ports as Delays Grow
An accumulation of tankers waiting to load around Venezuelan ports has grown in recent days as state-run oil company PDVSA struggles to deliver fuel oil for exports, according to traders and Reuters vessel tracking data. Venezuela is heavily dependent on oil exports. PDVSA's revenue represents more than 90 percent of the South American country's revenue in foreign currency.
Oiltanking Grindrod Calulo, Transnet Ink Agreement
Transnet National Ports Authority (TNPA) appointed Oiltanking Grindrod Calulo Holdings to plan, fund, construct, maintain and operate a new liquid bulk handling facility at the Port of Ngqura. This Build, Operate and Transfer (BOOT) agreement was concluded in December 2016, after an open tender process. The concept engineering design as well as…
Shortage of Caribbean Storage Forces Some Crude Sales at Loss
A saturated oil storage network in the Caribbean is forcing some South American and African producers to keep selling crude at prices that do not cover production costs, brokers and sources told Reuters. Low price environments typically motivate producing and trading companies to store more crude while waiting for a better time to sell, but a lack of available storage tanks in the Caribbean is leaving them with few options.
VLCC's Used for Asia-Europe Diesel Liftings
Total charters VLCC to move diesel from Asia to Europe; Vitol ships diesel from Asia to Europe in Suezmax. At least two companies are planning to ship diesel in bigger-than-usual tankers from Asia to Europe in what traders said is a rare move as cheap oil drives up diesel supply and slowing economies dent demand. French oil major Total has provisionally…
