Nigerian crudes for March loading have sold well with less than 10 cargoes unsold from the March program, because of healthy demand from Europe and India, although the remaining grades were struggling to sell, sources said Wednesday. More ...
Tags: Mineral, Nigerian Crudes
FOB values for Black Sea and Mediterranean crudes have continued to rebound after hitting more than two-year lows early in the new year. On Monday, Aframax FOB Supsa Azeri Light cargoes were assessed at a $2.295/b premium to the BTC Brent ...
Tags: Freight Drops, Chemicals
Japan's direct-burning crude oil demand for power generation has picked up since late December as a cold spell across the country has increased appetite for loadings into March in the absence of nuclear output, industry and trading sources ...
Tags: crude oil demand, power generation
Increased buying interest for North Sea crude oil cargoes, resulting in a sharp increase in price for a number of key grades, has negatively impacted Northwest European refinery margins, according to traders Wednesday. The cracking yield ...
Tags: Refinery, crude oil cargoes
Infrastructure will remain the watchword as US refiners look to further cement their role as world class product exporters in 2014, improving export capacity and rejigging refineries to increase their output of export-friendly diesel, ...
Tags: Refinery Output, gasoline
Fuji Oil may consider entering into alliances with other companies in the Japanese refining and petrochemical sector, where it can benefit, a senior company official with the Japanese refiner said. "We are not able to speak about anything ...
Tags: oil, Metallurgy, Mineral, Energy
The future of Quebec's refining industry depends on having access to quality crudes at competitive prices, and this means access to Western oil. This is the conclusion of a submission presented today by Valero Energy Inc. ( Valero") during ...
Tags: Metallurgy, Mineral, Energy, oil, gas
A chief executive officer of a U.S. energy giant on Tuesday called for the government to remove its current ban on crude oil exports so as to lower consumer prices and stimulate further shale oil production, the Houston Chronicle reported. ...
Tags: Crude Oil, Export Ban
Canadian Pacific expects to expand further into the crude business by railing more heavy grades from Western Canada as new loading terminals are put into service, the rail company's executive vice president said Wednesday. "Over time we ...
Tags: Crude oil, Metallurgy, Mineral, Energy
Among other inconveniences, Washington's shutdown could make it harder to keep track of what is going on in a place just over 1,000 miles away from it: Cushing, Okla. Cushing, where several major pipelines meet, is where oil futures are ...
Tags: Oil Prices, Mineral
Relative strength in premiums for the sour Middle Eastern crude market seen in recent days showed continued upward momentum Wednesday, as Asian refiners look to cover winter requirements and Chinese buyers look to re-stock, trading sources ...
Tags: Premiums, Metallurgy, Mineral, Energy
The front-month Brent/WTI spread narrowed Thursday to its lowest level in more than 20 months, dropping under $1/barrel as NYMEX crude broke above resistance levels on recent stock drops and an equities euphoria. The September Brent/WTI ...
Tags: Prompt Brent, Chemicals
Production of light, sweet crudes from unconventional oil fields in the US is ramping up so fast that at some point it will outpace the country's refining capacity and -- at least for the Gulf Coast -- this could occur within two years, a ...
Tags: Metallurgy, Mineral, Energy, oil, Sweet Oil
Even with the shale revolution leading to booming US oil production, the head of the US Energy Information Administration said Wednesday he does not expect the country to become an oil exporter any time soon. Beyond the political ...
NYMEX parent CME Group will likely implement additional quality specifications on its light sweet crude futures starting with the January 2014 contract, a member of the Crude Oil Quality Association's board said Thursday. CME plans to ...
Tags: Metallurgy, Mineral, Energy, Petroleum