China Ramps up US Oil Purchases Ahead of Trade Deal Review
U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to…
Reinauer Group Ramps Up for the Business of Offshore Wind
The promise of a vibrant U.S. offshore wind business has been long in the making. While questions remain on timing and pace, there is renewed confidence in the offshore wind sector…
US Crude Inventory Remains High
U.S. crude inventory has been hovering between 430 and 450 million barrels since early December — and remains around 6% above the five year average for this time of…
DNO Bid Undervalues Faroe by 48 %
North Sea player Faroe Petroleum published an independent valuation of its assets by Gaffney, Cline & Associates (GCA), which is said to highlight the inadequacy of…
Equinor Looks to Cut More Costs at Giant North Sea Oilfield
Norway's Equinor sees scope to further reduce development costs at the Johan Sverdrup oilfield in the North Sea, as it looks to maximize the potential of what could…
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…
Universal Energy Faces Millions in Claims
Universal Energy entered voluntary liquidation on Oct 3, tightening credit in Singapore's bunker fuel market. Shipping fuel suppliers are filing millions of dollars…
Platts to Publish U.S. Crude Prices in Asia
Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S. crude prices at the close of the Asian…
Mercuria, PetroChina Selling Offshore Stored Fuel Oil
Three to four tankers storing fuel oil, down from eight or nine. Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored…
Qatari Export Costs to Rise as Port Ban Disrupts Trading
Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to…
Platts Restricts Qatari-loading Crude in Pricing Process
Oil pricing agency S&P Global Platts said it will not automatically include Qatari-loading crude in its Middle East benchmark after Saudi Arabia and some other Arab states cut ties with Doha…
Shell Proposes Adding Russian Oil to Brent Benchmark
Royal Dutch Shell on Wednesday urged oil pricing agency S&P Global Platts to protect the dated Brent crude benchmark from declining North Sea supply by including other grades…
OPEC Compliance Growing as Laggards Come into Line
OPEC compliance 88 percent based on industry average. OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further…
BP back in the black
BP has made a profit of $115 million for the year 2016. This compares to its loss of $6.5 billion in the previous year. The company in its report stated having focused…
Platts to Lower Gasoil Sulphur Benchmark in 2018
Oil pricing agency Platts said on Monday that it will lower the sulphur content of its benchmark gasoil assessment in Singapore and the Middle East to 10ppm from the current 500ppm from Jan. 2, 2018.
Iraq Opens Up to Agencies on Output Ahead of OPEC Wrangles
Iraq will later this month host influential bodies that assess oil production levels, ahead of an OPEC meeting when the topic will become even hotter as members jostle over allocations.
Vitol, Aegean Marine trade First DME-Listed Fuel Oil Derivatives
Energy trader Vitol and shipping fuel company Aegean Marine Petroleum Network swapped 7,000 tonnes of July 180-centistoke in the first-ever trade of fuel oil derivatives on the Dubai Mercantile Exchange…
Floating Production's Future: The 6 Things You Need to Know Now
No question that the market for new floating production systems has taken a battering. The past 12 to 18 months have been a difficult period for everyone in the business sector.
Shell Calls for Tougher Regulation of Dubai Oil Benchmark
The Anglo-Dutch oil group Royal Dutch Shell PLC has called for tougher regulation of the Middle East's most important oil-pricing mechanism that has resulted in pushing…
Platts Adding to Dubai Price Marker in 2016
Platts mulls adding al-Shaheen, Murban for Dubai delivery. Oil pricing agency Platts is expected to announce by the end of this year which of two Middle East crude grades…
