U.S. Shipping Sanctions Give Boost to EU Refiners
U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.Freight rates…
ExxonMobil Hires Crude Trader in Singapore
Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Huang was recently…
Unipec Hires Veteran Crude Trader for Hong Kong Office
Unipec, the trading arm of Asia's largest refiner Sinopec, has hired veteran crude oil trader Lee Yee Meng, who will join its office in Hong Kong in May, trade sources familiar with the matter said on Friday. Lee left Trafigura Singapore earlier…
Noble Group to Exit Oil Trading: Sources
Trader exodus in London, Singapore; Vitol bought core of oil business based in Americas in Oct. Noble Group is closing down its London oil desk and winding down its Asia oil operations, sources familiar with the matter said, as heavy losses…
Shell Nabs Sinochem Crude Trader for Singapore Desk
Royal Dutch Shell has hired a former manager in Sinochem's London office to help bolster its crude oil trading into the Chinese market, sources told Reuters. Zheng Qingpu, who worked as the deputy general manager for Sinochem in London, has joined the Shell crude oil trading desk in Singapore…
Oil up on Russia-OPEC Hopes
Oil settled up on Friday on hopes Russia and OPEC will reach agreement at the weekend on market support initiatives to keep crude above $50 a barrel, although traders cautioned about pressure from a double-digit rise in the U.S. oil rig count.
Bytes and Barrels: the origins of oil traders' love of Yahoo
For the oil industry, Yahoo Inc's decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Their world already changed a few months ago, when the company said it would jettison…
Oil Traders who know China, with good heads for liquor
Over 40 traders, others hired away from major Chinese firms. Chinese independent oil companies are luring traders, marketers and risk managers away from dominant state behemoths, offering better pay and perks in a hiring spree triggered by the freeing up of China's crude import trade.
US Shale Cash Markets Offer Hope amid Gloom
In shale strongholds of North Dakota and Texas, physical crude grades are trading at the highest premiums to futures prices in years, offering a glimmer of hope that a pickup in global oil markets might follow. While crude futures hover around 6-1/2-year lows…
Platts Mulls Asia Crude Liquidity Boost
Platts also studies more ship transfer locations, faster trading. Oil pricing agency Platts is looking at approving more Middle East crude grades to boost liquidity in the daily assessment of Asia's Dubai benchmark, company executives said on Wednesday.
Key BP Asia Crude Trader Retiring in Q4
BP's book leader for Asia crude trading, Chu Said Thong, will retire from the company in the fourth quarter, two traders with knowledge of the matter said on Friday. Chu, who worked at BP during most of his career, is well-known for playing a key role in the Asia-Pacific crude market.
High Noon on the Gulf Coast
Canada, Saudi oil set for showdown. As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower.
JPMorgan Hires Former Glencore Crude Trader
JPMorgan Chase & Co has hired Edwin Tay, formerly with Glencore, as a senior crude oil trader in Singapore, industry sources said on Wednesday. Tay starts with the U.S. bank in January, they said. JPMorgan declined comment. JPMorgan completed…
BHP to Test U.S. Oil Export Legal Limits
BHP Billiton Ltd is set to be the first company to export lightly processed ultra-light U.S. oil without explicit permission from the government, further testing the limits of an increasingly contentious ban on foreign sales. Eight months after two other U.S.
