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Analysis: US Crude Exports Hit Record in September

Nov 8, 2016

US crude exports rose 35,000 b/d to a record 692,000 b/d in September after Brent's premium to WTI widened, an analysis of Census Bureau data released Friday showed. Brent's premium over WTI widened from 34 cents/b in May to average ...

Tags: crude exports, crude

The Launch of China's First Crude Futures Contract

Mar 21, 2016

The plan to launch China's first crude oil futures contract is facing more roadblocks as the Shanghai International Energy Exchange, or INE, comes under government review, a senior official close to the matter said Monday. "The target ...

Tags: Crude Futures, Crude Oil

Chinese Independent Refiners Step up Gasoil

Feb 21, 2016

China's independent refiners nearly doubled their gasoil and gasoline production in January and output is expected to remain at high levels going forward as they maintain strong run rates, set up reformers, and continue to process light ...

Tags: independent refiners, gasoline

Crude Oil Imports Continue on High Run Rates

Jan 16, 2016

With oil product stocks at moderate levels, Shandong's teapot refineries have kept refinery run rates relatively high, which is supporting demand for feedstock crudes, sources said this week. Regular importer Beifang Asphalt Fuel in ...

Tags: oil product, bitumen

China Teapot Refineries Apply for Crude Quotas

Jan 3, 2016

Four more Chinese independent teapot refineries, with a total capacity of 15.6 million mt/year, have joined others in applying to the National Development and Reform Commission to process around 14.47 million mt/year of imported crudes, the ...

Tags: teapot refineries, teapot

China May Apply Brakes to Strategic Oil Reserve Growth

Dec 16, 2015

After more than doubling its strategic oil reserves since last year, China may apply the brakes to its buying spree as storage availability is expected to be limited, while a climate of depressed prices will reduce any urgency to snap up ...

Tags: Oil Reserve, crude, oil price

US Refinery Margin Tracker: Unquenchable Gasoline Demand a Gift for US Refiners

Dec 15, 2015

Unseasonably strong gasoline demand is proving for US refiners to be the gift that keeps on giving this holiday season, as support from seasonal diesel demand is tamped down by record high temperatures across much of the US. Gasoline ...

Tags: gasoline, diesel, ULSD

Indonesia's Pertamina Signs Hoa with Saudi Aramco for Cilacap Refinery Upgrade

Dec 2, 2015

Indonesia's state-owned oil and gas company Pertamina has signed a heads of agreement for a $5.5 billion upgrade of the Cilacap refinery with Saudi Aramco, president director Dwi Soetjipto said in a statement Thursday. The project is ...

Tags: crude distillation, refinery, sour crude

RBOB Crack Surges After EPA Finalizes Renewable Fuels Mandate

Dec 2, 2015

The unveiling of final renewable fuel requirements for US refiners ignited a rally in gasoline futures Tuesday, helping support the rest of the oil complex. The front-month gasoline crack, basis ICE Brent, reached $13.61/b Tuesday, its ...

Tags: RBOB, gasoline, Renewable Fuels

Dubai-Wti Swap Spread at Highest Level Since MID-January

Nov 6, 2015

The differential between the WTI frontline swap and the Dubai swap is at its widest since mid-January, possibly opening up arbitrage opportunities for imports into the US, Platts data showed. The December Dubai swap was trading at a ...

Tags: WTI frontline swap, Dubai swap, crude

Dated Brent at Nine-Week Low Amid Weak Refining Margins and Cheap Urals

Nov 4, 2015

Dated Brent has fallen to a nine-week low, with uncommitted November Brent and Forties cargoes weighing on values amid weak local refinery uptake of the grade, sources said. Dated Brent fell to Forward Dated Brent minus 51 cents/b Monday, ...

Tags: Dated Brent, refiners, crudes

China to Allocate 34 Million Barrels of Storage Space Along China's Eastern Coast

Jun 7, 2015

Shanghai's International Energy Exchange or INE intends to allocate 34 million barrels of storage space along China's eastern coast to serve participants of the country's proposed crude oil futures contract, officials said at the Shanghai ...

Tags: Crude Oil, Oil

China's Nov Russian Crude Imports Hit Record High

Dec 27, 2014

China's crude imports from its major suppliers rose significantly in November versus a year ago, with Russian cargoes hitting a record high, although shipments from top exporter Saudi Arabia fell 5.9% to 3.99 million mt, detailed data from ...

Tags: Crude Imports, pipeline oil

China's October Crude Imports From Iran Surge 36%

Nov 25, 2014

China's crude imports from its major suppliers, including Iran, rose significantly in October versus a year ago, save for top exporters Saudi Arabia and Angola, detailed data from the General Administration of Customs showed Saturday, ...

Tags: Crude imports, Crude Oil

Libya's Oil Sector Is Showing Tentative Signs of Recovery

Jun 25, 2014

Libya's oil sector is showing tentative signs of recovery, with production now averaging around 300,000 b/d after the restart of the key Elephant field and with exports from the eastern ports of Marsa al-Hariga and Zueitina resuming after a ...

Tags: Oil Production, Elephant crude

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