Crude oil
Spanish refiner Cepsa resumes taking Iranian oil
According to Reuters shipping data, Cepsa has chartered the suezmax Monte Toledo, which will load at Iran's Kharg Island for delivery to the Spanish ports of Huelva and Algeciras.
US oil, gasoline inventories swell to record highs
US crude imports rose 647,000 bpd while refinery crude runs fell 24,000 bpd, as utilization rates fell by 0.8 percentage point to 86.6% of capacity.
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Industry Metrics
US product markets weakened despite unseasonably strong gasoline demand, and the gasoil crack spread hit the lowest level seen in more than five years, under pressure from increasing supplies amid thin demand due to warmer winter weather.
Global Partners cuts workers, scraps crude at Oregon ethanol-rail hub
Global Partners says it is "taking steps" to use the Oregon terminal for ethanol transloading "during this period of headwinds in the crude market." The terminal houses an ethanol plant.
Lukoil to bring Iranian oil to Romanian refinery
The Swiss trader will deliver 1 million bbl of Iranian Light grade to Lukoil's Petrotel refinery in Romania, loading at Iran's Kharg Island terminal on February 5.
California counties oppose Phillips 66’s oil-by-rail project to local refinery
It is one of several rail projects on the US West Coast that have undergone lengthy environmental reviews while facing heated opposition in light of fiery crude train crashes since mid-2013.
BASF warns of lower-than-expected earnings
Low oil prices, normally a boon to chemical companies, hurt BASF's oil and gas business Wintershall, which accounted for 20% of its 2014 sales.
Gasoline cargoes sail to Iran, but oil exports lag
Iran is a gasoline importer despite being the third largest producer within the OPEC group, as its outdated refining industry cannot meet rising petrol needs in the country.
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- Technip Energies invests in Verso Energy’s DEZiR eSAF project in Rouen 3/20
- Honeywell’s commercial launch of AI-powered control room assistant follows successful pilot 3/20
- Serbia secures U.S. sanctions waiver for its NIS oil firm 3/20
- Tanker carrying fuel originally bound for Cuba diverts to Trinidad 3/20
- Vietnam accelerates shift to ethanol fuel as Iran war drives up energy prices 3/20
