Oil Up 5% as U.S. Fed steps in to Prop Economy
Oil jumped 5% on Tuesday to above $28 a barrel, supported by steps by the U.S. Federal Reserve to bolster the economy and hopes the United States will soon reach a deal on a $2 trillion coronavirus aid…
Saudi Attacks, High Demand Leaves U.S. Short on Oil Tankers
A disruption in global oil flows following attacks on Saudi Arabian facilities has left U.S. crude exporters without enough tankers to cover rising demand for cargoes, traders and shipping sources said.Missile…
Suez Canal Accounts for 8% of LNG Trade
Total oil flows through the Suez Canal and the SUMED pipeline accounted for about 9% of total seaborne traded petroleum in 2017, and LNG flows through the Suez Canal and the SUMED pipeline accounted for…
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects…
No-deal Brexit Will Not Interrupt Norwegian Energy Flows to Britain
Energy exports from Norway to Britain will not be affected even if Britain leaves the European Union without a deal, Norway's energy ministry said on Friday."Energy trade is governed by bilateral commercial agreements.
JIP on Single Phase Flow Meters Enters Phase II
DNV GL is now starting phase II of a Joint Industry Project (JIP) on single phase flow meters in phase-contaminated oil flow. Phase II of this JIP will focus on the influence of the oil fluid properties.
Rosneft suing Exxon-led oil project over dispute between neighbours
Russian oil major Rosneft's $1.4 billion lawsuit against the ExxonMobil-led Sakhalin-1 consortium relates to a row over how oil should be shared between the Sakhalin-1 concession and an adjacent Rosneft field…
What Saudi Arabia Does Now is Key for Global Crude Markets: Russell
If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do? The Saudis appear to have emerged as the…
Oil Traders Ready for Musical Chairs as China Tariffs Loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.China, which has bought an average 330,000 barrels per day (bpd) of U.S.
Shell Starts New Gulf of Mexico Field ahead of Plan
Royal Dutch Shell on Thursday announced the start of production at the Kaikias field in the U.S. Gulf of Mexico, around one year ahead of schedule.Production from the subsea deep water development, which will reach 40…
Iran says US exit from deal will not impact its oil
Iranian Oil Minister Bijan Zanganeh said on Thursday that U.S. President Donald Trump's decision to quit a multinational nuclear deal would not affect Tehran's oil exports."Trump's decision will not have any impact on our oil export ...
U.S. Crude Up, Shrugs Off Domestic Crude Stock Rise
U.S. crude rose on Wednesday, shrugging off data showing rising domestic fuel inventories and production, and both U.S. crude and Brent held within sight of three-year highs reached the previous day.Supplier cutbacks…
Oil Nears $74/bbl even as U.S. Bonds, Supplies Cast Shadow
Oil prices in April hit highest levels since Q4 2014 but rising U.S. supplies dragging on markets. Oil eased on Wednesday, but held in sight of three-year highs reached the previous day, as rising U.S.
Oil Flows via Black Sea-bound Russian Pipeline Suspended Due to Oil Spill
Russia's pipeline monopoly Transneft said on Tuesday that oil flows via Kuibyshev-Tikhoretsk pipeline were suspended due to an oil spill. Oil exports via the Black Sea will not be interrupted thanks to oil inventories, a Transneft spokesman said.
North Sea Forties Pipeline Ramps Up Again Slowly
Buzzard oilfield restarts, pumping below full rate-source; Forties has temporary flow restriction. Oil and natural gas flows along Britain's biggest and most important oil pipeline, Forties, were ramping…
Aramco IPO Decision Under Time Crunch
Riyadh holding talks with strategic investors, but New York and London want to win Aramco IPO. Saudi Arabia wants to complete talks with strategic investors such as China, Japan and South Korea before…
Russian Pipeline Fire Could Affect Oil Loadings
An oil leak and resulting fire on an oil pipeline in Russia's Saratov region may affect the loading schedule for Russian crude exports, Igor Dyomin, a spokesman for oil pipeline monopoly Transneft, told reporters.
Ineos: Forties Oil Flows Back to Normal 'Around New Year'
All restrictions of flows have now been lifted; force majeure on supply still in place. Britain's biggest and most important oil and gas pipeline Forties should resume normal flows around the new year…
China's Crude Splurge is OPEC's Best Friend
China's crude oil imports surged to the second-highest on record in September, but this isn't a sign of supercharged demand in the world's second-biggest economy. It's rather a shuffling of where oil is…
Glencore Sees Record Oil Trading Volumes as Margins Shrink
Glencore looks set to cement its position as the world's second-largest oil trader as it tries to offset low volatility and tight margins with record volumes this year, its global head of oil, Alex Beard, told Reuters.
