Crude oil
BP Statistical Review shows long-term shifts underway
The 2017 edition of the BP Statistical Review of World Energy shows global energy markets continuing to undergo long-term changes as they also adapt to nearer-term price challenges.
Traders keep oil in Asian storage for later sale, undermine OPEC supply cuts
SINGAPORE (Reuters) — A 10% decline in oil prices since late May could push traders to keep crude in storage, looking to sell down the line when forward prices are higher.
Irving Oil completes $20-MM expansion of St. John's Marine Terminal
ST. JOHN'S, NL — Irving Oil announces the grand opening of its St. John's Marine Terminal Expansion—a $20-MM investment that will improve harbor logistics and help position St. John's Harbor for future growth. The expansion adds a new fueling berth on Pier 23, adjacent to the company's existing facilities on Pier 24, doubling the number of vessels that can access marine gas oil (MGO) via pipeline at its Marine Terminal.
EIA: Reporting oil companies’ proved reserves in 2016 decline for second consecutive year
Annual reports of 68 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year.
Crude oil, fuel shipping costs from Qatar set to rise on port ban
SINGAPORE (Reuters) — The costs to ship fuel and crude oil from Qatar are expected to rise after the United Arab Emirates banned vessels that previously called at Qatar from docking at UAE ports, multiple sources from the oil and shipping sectors said on Monday.
API welcomes senate letter supporting North American energy markets
WASHINGTON — API President and CEO Jack Gerard welcomed a letter sent by eight US Senators to US Trade Representative Lighthizer emphasizing the importance of North American energy markets to American consumers and US energy security in advance of the North American Free Trade Agreement (NAFTA) renegotiation.
SemGroup to acquire Houston Fuel Oil Terminal Company
TULSA, Okla. — SemGroup Corporation announced that it has executed a definitive agreement to acquire Houston Fuel Oil Terminal Company (HFOTCO), one of the largest oil terminals in the US, from investment funds managed by Alinda Capital Partners. This acquisition establishes SemGroup’s position in the premier energy market, the Houston Ship Channel.
Oil comeback for cut-exempt producers threatens to swamp OPEC
LONDON (Reuters) — OPEC's battle against an oil glut is under threat as unsold crude from members Nigeria and Libya, which are exempt from a global production-cutting deal, is swamping the Atlantic Basin.
Syncrude Canada makes further cuts to June output forecast
CALGARY, Alberta/NEW YORK (Reuters) — Canadian synthetic crude differentials strengthened on Thursday, as market sources said June production forecasts at the Syncrude oil sands project in northern Alberta were trimmed yet again.
Oil shrugs off geopolitical tensions but some see red flags
LONDON (Reuters) — The oil price has ignored rising geopolitical tensions in the Middle East, as a three-year old crude surplus has wiped out any real fear over supply, but one of the world's largest security consultants says there are red flags the market cannot ignore.
- Exploring ethanol: Maersk to test 50/50 ethanol-methanol bunker fuel 12/8
- BASF introduces low-VOC polyurethane catalyst Lupragen® N 208 12/8
- Idemitsu Kosan to be first Japanese refiner to supply biofuels to shipping industry 12/8
- China refiner moves forward with expansion despite sanctions 12/8
- Air Products and Yara to partner on low-emission ammonia projects 12/8
- Opinion: G7’s Russian oil tanker ban shows teeth, but bite is in doubt 12/8
