Chevron in LNG Supply Deal with GS Caltex
American multinational energy corporation Chevron signed a new sales and purchase agreement with South Korean oil refiner GS Caltex Corporation for the delivery of liquefied natural gas (LNG) to South Korea.As a joint venture between Chevron and GS Energy, GS Caltex…
S.Korean Refiners Step Up U.S. Spot Crude Purchases
S.Korean refiners step up spot crude purchases; Mideast crude make up 77.7 pct of imports, lowest since 2004. South Korea's purchases of sweet crudes from the United States and Africa are growing as its refiners snap up spot cargoes to replace more expensive Middle East grades…
U.S. Crude Liftings for Asia to Hit New High in July
Asia's U.S. crude imports hit all-time high in May as WTI discount to Brent falls to widest in three years. The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to replace Middle Eastern crude after prices for Gulf grades rose, traders said on Wednesday.
GS Caltex Buys Rare Canadian Crude Cargo
300,000 bbl Cold Lake crude to arrive in 2nd half of February. South Korean refiner GS Caltex Corp has bought a rare cargo of Cold Lake crude, the company's first purchase in more than two decades of this Canadian oil grade, a company spokesman said on Monday. The second-largest refiner in South Korea bought 300…
Asian Traders Mull U.S. Crude Liftings in Harvey's Wake
Harvey closed nearly a quarter of U.S. refining capacity; helping to push WTI-Brent spread to widest in two years. Some oil traders in Asia are looking to snap up crude cargoes from the United States after Hurricane Harvey closed U.S. refineries, denting local demand…
Chevron Names Wirth Vice Chairman
Chevron Corporation said today that Michael K. Wirth, executive vice president of Midstream and Development, has been named vice chairman, effective February 1, 2017. “As a senior officer of Chevron, Mike has made significant contributions to the company’s success,” said John S.
Asia oil refiners hungrily eye 300-item global oil smorgasbord
Asia's oil refiners can choose from a sprawling buffet of over 300 crudes from every continent except Antarctica as a combination of cheap freight and rising supplies leaves buyers overwhelmed by the variety of oil grades on offer. The lifting of the 40-year-old U.S.
Asian Oil Refiners Cut Output to Fight Oversupply, Low Margins
Oil refiners in Asia are processing less crude as they grapple with margins that plunged to five-year lows after the region was flooded with supply of refined products and as slowing economic growth hits demand for fuels. Asian refiners typically increase utilisation…
GS Caltex Buys Rare West African Crude Cargo
GS Caltex to buy 920,000 barrels of West African crude; first West African shipment in almost a year. South Korea's GS Caltex Corp is set to receive its first shipment of West African crude in almost a year as the country looks to diversify supply away from the Middle East.
GS Caltex Makes Rare Mexican Crude Buy
First Mexican crude purchase since 1990. GS Caltex looks to procure cheap crude as prices remain weak. South Korea's GS Caltex Corp has bought Mexican crude for the first time in 25 years, as the refiner takes advantage of low prices to make cheap spot purchases, a spokesman said on Monday.
Global AIS: Genscape Spots Alaskan Crude Export VLCC
No Alaskan crude oil has been exported outside of the United States since 2004. Genscape Vesseltracker monitoring data showed that a cargo of Alaskan North Slope crude was loaded Sept. 26 at the Alaskan port of Valdez for delivery into the South Korean refining center of Yeosu, says a Genscape blog post.
Asia Buyers Wary of U.S. Condensate Test Results
Petchem producers unlikely to buy due to impurities in oil. Big middle distillates yield, less naphtha, LPG; wide variance in API gravities in assays, samples. Tests on samples of the same type of U.S. condensate now heading to South Korea and Japan have raised questions about the ultra-light crude's suitability for use in Asia…
Third U.S. Condensate Cargo for Japan Loads
The third cargo of condensate, or ultra-light oil, since the U.S. eased its 40-year export ban has been loaded on a tanker and departed for Japan on Monday, according to shipping sources and data. Japanese refiner Cosmo Oil chartered Panamax tanker Lian Ping Hu, which loaded the oil at the Teppco Seaways terminal in Texas City…
Asia Fuel Oil: Poor Demand Pressures 380-cst Premium
The cash premium on the 380-cst fuel oil fell to a near one-week low as lacklustre marine fuel demand this week outweighed a supply shortfall from the West in June. The 380-cst premium was at $1.58 a tonne to Singapore spot premiums, down 92 cents, Reuters data showed. level since May 2012.
