Crude oil
ADNOC cuts Sept crude allocation to 2 buyers by 10%
SINGAPORE (Reuters) — Abu Dhabi National Oil Co (ADNOC) notified two term buyers in Asia that they will receive 10% less crude for September, two sources familiar with the matter said on Tuesday.
Chinese oil trader Unipec seeks closer ties with teapot refiners
BEIJING (Reuters) — State oil trader Unipec will develop "really strong" ties with China's independent refiners, said a company executive on Tuesday, even as they present a growing challenge to its parent and Asia's top refiner, Sinopec Corp.
Russia is top China oil supplier 4th straight month in June, longest streak ever
BEIJING (Reuters) — Russia was China's biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed on Monday.
Saudi calls OPEC members to stick to limits, sees oil demand up
ST PETERSBURG, Russia (Reuters) — OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs.
China unveils plans to expand, upgrade oil and gas pipelines
The National Development and Reform Commission (NDRC) and National Energy Administration (NEA) unveiled plans to expand and upgrade China’s oil and gas pipeline network over the next decade.
Russia, Venezuela discuss Citgo collateral deal to avoid US sanctions
CARACAS/HOUSTON (Reuters) — Russia's top oil producer Rosneft is negotiating to swap its collateral in Venezuelan-owned, US-based refiner Citgo for oilfield stakes and a fuel supply deal—a move to avoid complications from US sanctions, two sources with knowledge of the negotiations told Reuters.
Brent oil climbs above $50 for first time since early June
LONDON (Reuters) — Brent crude oil rose above $50/bbl for the first time since early June on Thursday, adding to gains made the previous session when falling US crude and oil product inventories lifted the market.
SemGroup completes acquisition of Houston Fuel Oil Terminal Company
TULSA, Okla. — SemGroup Corporation announced the closing of its acquisition of Houston Fuel Oil Terminal Company (HFOTCO) from investment funds managed by Alinda Capital Partners. HFOTCO, one of the largest oil terminals in the US, establishes SemGroup’s position in the premier energy market, the Houston Ship Channel, and provides a strategic platform to refinery-facing growth.
PetroChina unloading first Chinese purchase of oil from US strategic reserves
SINGAPORE (Reuters) — PetroChina is this week unloading the first Chinese purchase of crude oil from US strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources.
S.Korea easing rules at oil terminals in effort to become trade hub
SINGAPORE (Reuters) — 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.
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