Crude oil

ExxonMobil acquires crude oil terminal to serve Permian Basin production

HOUSTON — ExxonMobil Corporation announced that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP.

Venezuela's deteriorating oil quality riles major refiners

CARACAS/HOUSTON (Reuters) — Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors.

Storm in western Canada temporarily disrupts crude pipelines

CALGARY, Alberta (Reuters) — Two crude oil pipelines in western Canada were shut down temporarily on Wednesday, the day after stormy weather caused power outages in parts of Alberta and Saskatchewan.

OPEC seeking consensus on oil supply cut extension before meeting

LONDON (Reuters) — Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC's secretary general said on Thursday, with the potential for continuation throughout 2018 forming a basis for talks.

EIA: Crude oil, petroleum product exports reach record levels in H1 2017

Crude oil exports in the first half of 2017 increased by more than 300,000 bpd from the first half of 2016 to 784,000 bpd, a 57% increase. Petroleum product exports also grew over the same period. Crude oil and propane exports each reached record highs of 0.9 MMbpd, and distillate exports reached a record high of 1.3 MMbpd.

Mexico's Pemex fires warehouse workers for oil theft

MEXICO CITY (Reuters) — Mexican state oil company Petroleos Mexicanos (Pemex) said on Tuesday it would rescind contracts held by several workers at a warehouse and distribution center in the central state of Guanajuato as part of a strategy to combat oil theft.

S.Korea plan to ease oil-blending rules to take effect from Thurs

SEOUL (Reuters) — South Korea said on Wednesday that its plan to ease blending restrictions at oil storage terminals would come into effect on Thursday, as the government continues its push to boost international oil trading in the country.

Bangladesh set to sign 15-yr gasoil import deal with India

DHAKA (Reuters) — Bangladesh Petroleum Corp (BPC) is set to sign a 15-yr deal with Indian oil refiner Bharat Petroleum Corp Ltd (BPCL) to import gasoil to meet the country's energy demand, two company officials with the direct knowledge of the matter said.

USD partners commence operations at crude terminal in Oklahoma

HOUSTON — USD Partners LP announced the commencement of operations at its destination terminal in Stroud, Oklahoma on Oct. 1. The planned retrofit work necessary to handle heavier grades of crude oil at the terminal was completed on time and under the Partnership’s initial budget.

Angolan crude exports to rise in Dec, W. Africa offers steady

LONDON (Reuters) — Angolan crude exports are scheduled to rise in December, a loading program showed on Monday, while offers of remaining November cargoes were heard to be holding steady.