Venezuela, China Expanding Crude Oil JV
A Venezuelan oil joint venture with a state-owned Chinese company has started an expansion project to boost output to 165,000 barrels per day (bpd), President Nicolas Maduro said on Thursday, from a current capacity of 110…
India to Cut Iranian Oil Purchases in Row Over Gas Field
Indian state refiners will cut oil imports from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said.
OPEC Cuts Boost Light Crude's Appeal
One of the consequences of the cuts to crude oil supply by OPEC and its allies has been the sharp narrowing of the premium that light crude commands over heavier grades. In theory, this should result in increased flows of light crude to Asia…
China Suitor Tightens Grip on Curacao Oil Project
China's Guangdong Zhenrong Energy Co will submit a plan by April to revamp a century-old oil refinery in Curacao, as it seeks to secure a $5.5 billion project that will give China a foothold in the Caribbean's second-largest oil refinery.
Vens Push New OPEC Oil Blending Strategy
PDVSA head Del Pino says aim is to increase market competitiveness. Venezuela has launched talks this month on a novel plan to blend the country's heavy crude with light oil from other OPEC allies, seeking to…
Canada's Light Oil Boom Delights Producers
Canada is enjoying an unexpected boom in production of ultra-light crude known as condensate, defying long-held predictions of dwindling supply. This surprising bounty from one corner of Alberta, better known…
Oil Producers Hope DC Talks Ease Export Ban
Recent meetings between U.S. oil producers and Commerce Department officials have fueled industry hopes that the Obama administration may soon begin to ease a longstanding ban on oil exports. Although it would…
