Norwegian Oil, Gas Plants Restart after Ship Collision
An oil tanker and a Norwegian navy frigate collided off Norway's west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway's top gas processing plant and several offshore fields.The frigate, which recently took part in a major NATO military exercise…
Saudi Arabia Resumes Oil Exports through Red Sea Lane
Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb.Saudi Arabia halted temporarily oil shipments through the lane on July 25 after attacks on two oil tankers by Yemen's Iran-aligned Houthi movement.A…
Largest Oil Shipment Sent from Vancouver to China Since 2015
An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets,…
Oil Nears 3-1/2-year High on Middle East Sabre Rattling
OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U.S. President Donald Trump that OPEC cut prices.
First Libra Pre-salt Oil Shipment Likely in Early January
Petróleo Brasileiro SA is likely to begin shipping oil from the Libra pre-salt area early in January, an executive at the Brazilian state-controlled oil company said on Friday. Operations at Libra kicked off this week with an output of around 17,500 barrels of oil per day (bpd), Petrobras…
Brazil Delays Estimate for First Oil Cargo from Libra
Brazil on Wednesday pushed back its forecast for a first oil shipment from its promising offshore Libra prospect to the first quarter of next year, months after its previously projected October 2017 estimate made in May. Hercules Tadeu F. da Silva, contract management director at Brazil's state-run Pre-Sal Petroleo SA…
Sinopec's Tianjin Crude Reserve is in Service
A new commercial crude oil reserve base built by China's Sinopec Corp in northern Chinese port of Tianjin received its first oil shipment on Wednesday, the state refiner said. **The new site consists of 12 tanks each sized 100,000 cubic metres, totalling about 7.56 million barrels. **This…
Pemex: Harvey Caused Crude Oil Shipment Delays
Mexican national oil company Pemex said on Tuesday that Hurricane Harvey forced the cancellation of several crude oil export shipments. Due to the damage inflicted by Harvey on the U.S. Gulf coast refining center, Pemex arranged for alternative gasoline and diesel cargos from suppliers elsewhere, the company said in a statement.
First Oil Shipment from Oman's Musandam Plant
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has successfully supported Oman Oil Company Exploration & Production LLC’s (OOCEP) first shipment of crude oil from the Musandam gas plant (MGP).
Hellenic Petroleum Posts Q4 Net Loss
Hellenic Petroleum, Greece's biggest oil refiner, posted on Thursday a net loss of 60 million euros ($66.05 million) for the fourth quarter, hurt by plunging oil prices. The figure, which compares with a net loss of 227 million euros in the same period in 2014, was above analysts' average forecast for a net loss of 11.8 million euros in a Reuters poll.
Emco Wheaton Plays Key Role in First US Crude Oil Shipment
Emco Wheaton has played a pivotal role in the transfer of the first shipment of U.S. crude oil for export in 40 years, after the Theo T tanker set sail from the Port of Corpus Christi bound for Europe. The Greek oil tanker was loaded on New Year’s Eve by NuStar Energy LP at its North…
Gazprom Neft Completes First Shipment
Gazprom Neft completed the first offshore oil shipment from Novoportovskoe deposit on Yamal during the winter period. The first batch of 16 thousand tonnes of crude oil was shipped to European customers from the Yamal Peninsula on a tanker escorted by the nuclear powered icebreaker “Taimyr”.
Iranian Fuel Oil Exports Trade Skirts Sanctions
Iran is sidestepping Western sanctions and managing to sell hundreds of thousands of tonnes of fuel oil every month through companies based in the U.S.-allied United Arab Emirates, trading sources told Reuters. The U.S. and EU sanctions that came into force in 2012 prohibit the import…
Kemp: U.S. Crude Export Controls Crumbling
In the three months ending in August, the United States and Canada swapped a record amount of crude oil with each other, one of the more bizarre consequences of outdated U.S. export controls. Because U.S. oil producers cannot export crude oil to any other country, crude is sent north to refineries in Canada…
Iraq to Appeal US Court Decision on Kurdish Oil
The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas. On Monday, a U.S. district court ruled in favour of a request by Iraq's Kurdish region that a demand by the Iraqi government for U.S.
First Oil Shipment from Novoportovskoye Oil Field
In August 2014 the oil product tankers SCF Yenisei and SCF Pechora, operated by OAO Sovcomflot, have begun transporting the first oil from the Novoportovskoye Oilfield, located in the Gulf of Ob (Yamalo-Nenets Autonomous District). SCF Yenisei and SCF Pechora (deadweight approx. 47,000…
Oil on Derailed Train Belonged to Plains All American
The Bakken oil shipment aboard the CSX Corp train that derailed and burst into flames in Virginia on Wednesday belonged to midstream energy firm Plains All American LP, according to three industry sources. Plains All American did not respond to repeated requests for comment. CSX earlier…
Shell Lifts First Crude Oil from Majnoon Oilfield
Shell announced today that the Majnoon oilfield it operates in partnership with South Oil Company (SOC), Petronas and Missan Oil in Southern Iraq has successfully exported its first shipment of crude oil to Shell trading, a significant milestone for the oilfield. The achievement comes…
Despite Protests Gazprom Starts Arctic Oil Production
Gazprom says it has started producing oil from the Prirazlomnoye field, which is the first Russian project for developing the Arctic shelf and the commencement, they say, of their large-scale activities aimed at creating a large hydrocarbon production center in the region. The Prirazlomnoye…
Nustar Signs Storage Contracts at Two Oil Terminals
Reuters - Nustar Energy said on Monday it signed long-term agreements to lease crude oil storage at its two Atlantic storage terminals. The San Antonio, Texas-based company said it entered into an agreement with an unnamed national oil company for 5 million barrels of light crude oil storage capacity at its St.
