PDVSA Creates New Ports Unit Amid Company Shakeup
Venezuela's state-run oil company Petroleos de Venezuela has created a new unit to run its oil terminals, according to a copy of the government's official gazette seen by Reuters and a person with knowledge of the matter.The launch of the new unit, PDV Puertos S.A., comes after socialist President Nicolas Maduro last month named a new PDVSA president and oil minister to try to revive the once-prosperous OPEC nation's crude output…
Al-Iraqia Shipping Commences Bunkering Operations in Iraq
Al-Iraqia Shipping Services & Oil Trading (AISSOT) is shortly commencing bunkering operations at Iraqi Ports mainly at Basra, Khor Al-Zubair and Umm Qasr. AISSOT is a joint-venture company of Iraqi Oil Tankers Company (IOTC) & Arab Maritime Petroleum Transport Company (AMPTC) to handle plethora of activities ranging from Trading of petroleum products, Ship chartering, Oil terminals, various Marine services, and Bunkering.
More Charges Against Shell Singapore Theft Suspects
Total number of people arrested in the case rises to 20; thefts are alleged to have been going on for months. A Singapore court on Monday filed additional charges against nine men accused in a large-scale oil theft at Shell's biggest refinery, the latest development in an extensive investigation in the city-state. The nine Singaporean men, eight of whom were employees of the Singapore subsidiary of Royal Dutch Shell Plc…
Fuel Imports, Distribution in Puerto Rico Starts to Unclog
Shipments of gasoline and diesel into Puerto Rico have resumed after Hurricane Maria, with ports restarting operations, though there were still long fuel lines around the island on Thursday, according to traders and Thomson Reuters tracking data. Residents lined up for diesel for power generators and to fill cars with gasoline, while at least one tanker discharged at the port of San Juan as oil terminals reopened some facilities.
Caribbean Oil Terminals Prepare for Hurricane Maria
Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm on Tuesday. Shippers and traders in the Atlantic basin are struggling amid this year's very active storm season, which has seen seven hurricanes so far…
S.Korean Rule Change to Allow Blending, Enhanced Regional Trading
S.Korea to allow traders to blend fuels at oil terminals; new regulation to be implemented from Oct 18. South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub. Asia's fourth-largest economy is pushing ahead with a 2014 plan to turn Ulsan and Yeosu ports into northeast Asia's oil shipping and storage cluster…
S.Korea to Ease Local Blending Rules
S.Korea to allow traders to blend fuels at oil terminals; planning to nearly double storage to 60 mln barrels by 2026. South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub. Asia's fourth-largest economy is pushing ahead with a 2014 plan to turn Ulsan and Yeosu ports into northeast Asia's oil shipping and storage cluster…
Libyan Oil Output Rises after Port Fighting Ends
Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. "We are working very hard to reach 800,000 barrels by the end of April 2017, and, God willing, we will reach 1.1 million barrels next August," NOC Chairman Mustafa Sanalla was quoted as saying in a statement.
Libyan NOC Official Warns of Force Majeure at Oil Ports as Rivals Mobilize
A senior official at Libya's National Oil Corporation (NOC) warned on Monday of a possible declaration of force majeure at the Es Sider and Ras Lanuf oil terminals, as air strikes continued and rival forces mobilized fighters in the area. NOC board member Jadalla Alaokali said force majeure, a legal waiver for contractual obligations, would "likely" be declared if violence continued, though he gave no timeframe.
East Libyan Oil Firm AGOCO Says Production Rises
Libya's Arabian Gulf Oil Company (AGOCO) said on Monday that its production had risen to 320,000 barrels per day (bpd), from 290,000 bpd late last week. The increase had come after production at Sarir field rose to around 200,000 bpd, and production at Nafoura had reached 29,000 bpd, spokesman Omran al-Zwai said. He added that AGOCO could reach its year-end target of 350,000 bpd if the Bayda field came back on line.
Libyan Deal to End Oil Ports Blockade Needs Signing
Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government still needs to sign an agreement for exports to resume. The PFG has been demanding payment of workers' wages as part of any deal to end the blockade of Ras Lanuf, Es Sider and Zueitina. Details of the negotiations have not been made public.
Libya's PFG to Lift Terminal Blockades
Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will start lifting a blockade on eastern oil terminals over the next three days, though a resumption of exports will depend on the state of the ports, a spokesman said on Friday. The PFG, which protects Libya's oil terminals and fields…
Iran Boosts Kharg Island's Oil Export Capacity
Iran has increased its crude exports capacity at its main terminal on Kharg Island to allow eight tankers to load simultaneously, the oil ministry's news agency Shana reported on Monday. Following upgrades to infrastructure over the past two years eight tankers can berth at the terminal's eastern harbor, with one more vessel able to load ship-to-ship cargo at the same time…
Three French Oil Refineries Prepare for Restart, Oil Ports Still Shut
Preliminary work got underway on Monday to restart three of Total's French oil refineries stopped as part of nationwide strikes against planned changes to employment laws, but workers were still on strike at the country's two main oil ports. Workers voted to end a strike at Grandpuits near Paris and preliminary work on resuming operations was underway there and at the Normandy refinery…
France Raises Fuel Imports to Cover Shortages From Strikes
France is increasing its imports of refined fuels via cross-border pipelines, barges and tankers to replenish stocks and ease shortages after a more than week-long strike by oil workers disrupted supply, three industry sources said. An over-capacity in the European refinery market meant that the continued shut down of at least four out of France's eight refineries had not translated into much higher prices, one of the sources said.
Fos Tanker Queue Grows as Strike Impacts Refinery Ops
Nearly two dozen vessels were queued outside the French oil import terminal in Fos, southern France on Thursday, held up by a strike organised by the hardline CGT and FO unions over planned labour reforms. A spokeswoman for the port of Marseille told Reuters that yesterday 29 oil, LNG and chemicals vessels were waiting between the wharf and harbour on Wednesday. This morning, 21 vessels including 12 carrying oil, LNG or chemicals, were waiting.
Statoil Fuels and Retails Wins EU Okay for Shell Deal
Statoil Fuel and Retail gained European Union antitrust approval on Wednesday for its acquisition of Shell's Danish retail and wholesale fuels business after agreeing to sell some businesses to allay competition concerns. The European Commission had been concerned that the deal could have led to Danish consumers paying more for their fuel, diesel, gasoline and light heating oil.
Libya's NOC Warns of More Islamic State Attacks
Fida oil field was attacked by militants last week - NOC. Libya's oil facilities are likely to suffer further attacks unless a United Nations-backed unity government is approved, the head of the National Oil Corporation (NOC) told Reuters in an interview on Monday. Mustafa Sanalla also said suspected Islamic State militants had staged their latest attack against Libya's oil infrastructure last Thursday or Friday…
Attack Damages Oil Pipeline South of Libya's Zueitina Port
Maintenance teams are working to repair damage caused by an attack on an oil pipeline south of the Libyan port of Zueitina, a spokesman for the pipeline's guards said on Monday. It was not clear who carried out the attack late on Sunday evening, but Islamic State militants have been active in the area in recent weeks. An explosion and fire hit the pipeline in the desert 75 km (47 miles) south of the terminal…
NOC: Libya Lost $68 bln in Oil Revenue Since 2013
The drop in Libya's oil production in recent years as a result of unrest has resulted in $68 billion in lost revenue, National Oil Corp Chairman Mustafa Sanallah said on Monday. The country's oil production was currently at 362,000 barrels per day, dropping from 400,000 bpd after a series of attacks by Islamic State militants on Libya's largest oil terminals last week further curtailed output, Sanallah said.
