Traders have chartered at least five supertankers in the past day with options to store oil at sea as global stocks mount after the United States ditched plans to purchase oil for its emergency reserve, shipping sources said on Friday
Chinese oil giants face steep losses, set to cut production, dividends as Saudi Arabia stokes price war
PetroChina and China Petroleum & Chemical or Sinopec, are expected to trim their annual production by 2 to 3 per cent, similar to that seen in the last oil recession in 2014 , according to Neil Beveridge, senior analyst in Hong Kong at Sanford C. Bernstein & Co
Kuwait has barred foreign ships, except those carrying oil, from departing to or arriving from several countries to prevent the spread of the coronavirus
Mercantile & Maritime said on Monday it would terminate its shipments of Venezuelan oil for Rosneft after the United States imposed sanctions on the Russian oil firm’s Swiss trading unit
South Korea is on track to overtake Canada as the top buyer of U.S. crude oil in 2020 as a mix of steep price discounts to alternative supplies, attractive refining economics and rebates on shipping charges prove too good to resist for big refiners
France’s Total is considering stopping sales of fuel oil to power markets as the energy giant seeks to reduce its carbon footprint and grow its renewable power business
Record low prices for liquefied natural gas are roiling the global gas market, creating havoc as traders rush to find alternative locations for cargoes with Chinese buyers rejecting shipments amid the coronavirus epidemic
Trading companies Mercuria, Trafigura and United Arab Emirates-based GP Global have applied for licenses to supply marine fuel to ships in Singapore, the world’s top bunkering hub
Lithuania's oil and LNG terminals operator Klaipėdos Nafta has been appointed as the operator of a liquefied natural gas
Since Saras launched its very low-sulphur fuel oil (VLSFO) blend in early September its sales have topped 120,000 tonnes, an executive at the Italian refiner said
PetroChina’s Singapore bunkering unit moved up a notch to be the top marine fuel supplier in the world’s biggest ship refuelling hub in 2019, official data showed, as the overall number of suppliers fell for a sixth year in a row
The deal follows a similar deal by France’s Total announced last week and a 0.5 million tonnes per year deal with commodity trader Vitol signed in December
With 25% tariff on LNG still in play, the Phase-1 deal between the US and China is not expected to bring any significant change in the LNG trade between the two countries, writes research firm Drewry
At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050
Ørsted, the largest energy company in Denmark, has started constructing its first offshore wind farm in the Netherlands
U.S. refiners are scooping up cheap high-sulfur fuel oil for processing from Russia and the Baltic states as they take advantage of new shipping rules that have cut demand for the dirtier marine fuel, according to oil traders and shipping data
Global supplies of marine fuel compliant with new environmental rules are increasing fast as concerns over quality remain marginal
Attorneys general from 16 U.S. states have opposed a Trump administration proposal to ship liquefied natural gas by rail
A Russian gas tanker that is used to secure energy supplies in the west Russian enclave of Kaliningrad has arrived back in the region after being leased out to transport U.S.-produced LNG to Europe
With his death, the region loses a trusted and seasoned leader, seen as the father of modern Oman, who balanced ties between two neighbours locked in a regional struggle, Saudi Arabia to the west and Iran to the north, as well as the United States
Ships globally have switched to lower sulphur fuels, or use emissions-removing devices, to comply with new rules imposed by the International Maritime Organization this year
The presidents of Turkey and Russia on Wednesday formally launched the TurkStream pipeline which will carry Russian natural gas to southern Europe through Turkey, part of Moscow’s efforts to reduce shipments via Ukraine
State-run Qatar Petroleum (QP) said on Sunday it had signed a 15-year agreement to supply Kuwait with up to 3 million tonnes of liquefied natural gas (LNG) per year.
Russian pipeline operator Transneft said Russian oil companies have not sent any oil to Belarus since Jan. 1, the TASS news agency reported
U.S. strike kills Iranian General Soleimani in Iraq. Iran's supreme leader vows revenge
Asian refining margins for 10 ppm gasoil climbed to their highest in over a month buoyed by expectations of firmer near-term demand as the shipping industry switches to cleaner marine fuels
Swiss-Dutch company Allseas said it had suspended its pipe-laying activities in the Nord Stream 2 Russia-to-Germany natural gas pipeline
Riyadh - Saudi regulators on Sunday approved state energy giant Aramco’s request to make its stock market debut, firing the starting gun on the highly anticipated offering which could be the world’s largest. The announcement paves the way for a domestic stock listing of Aramco
Cairo - Libyan state oil firm NOC said on Tuesday it had been unable to pay salaries in September at a fuel distribution unit in the east where authorities have set up a parallel board.
London - Prices rose sharply in previous session. Threat of military response hangs over market.
Dubai - The kingdom intends to list 1% of the state oil giant on the Riyadh stock exchange before the end of this year and another 1% in 2020, the sources said, as initial steps ahead of a public sale of around 5% of Aramco.
Cagliari - Italian refiner Saras is introducing bunkering services at the Italian ports of Sarroch and Cagliari. Starting from September 1, bunkering operations would take place at specific dedicated areas of the ports with the refiner offering a complete range of marine fuels
Philadelphia - Largest U.S. East Coast refinery would shut. Shutdown would involve hundreds of workers laid off.
Dublin - IEA sees recent attacks as threat to energy security.
London - Beard, 52, helped turn Glencore into top 3 oil trader. Follows retirement of Glencore’s agri, copper heads.
Oslo - Mediation on pay scheduled for June 3. If talks break down, strike would start on June 4.
Moscow - The quality of Russian oil from the Baltic Sea port of Ust-Luga has improved significantly in the past day but fluctuates sharply, three Russian oil buyers familiar with operations said on Tuesday.
Geneva - U.S. sanctions against Iran’s oil industry will damage the stability of global oil markets, a senior Iranian official was quoted as saying on Monday.
Moscow - Poland and Germany have suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world’s second-largest crude exporter. Halting imports from the Druzhba pipeline could trigger legal claims by Western buyers
Baku - BP and partners have signed the Azeri Central East project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea. The $6 billion development includes a new offshore platform and facilities
Algiers - Five Algerian billionaires,some of them close to former president Abdelaziz Bouteflika who quit over mass protests, have been arrested as part of an anti-graft investigation, Algerian state TV said on Monday. The five are Issad Rebrab, considered the richest businessman in the energy-rich north African nation
Houston - Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share
Baku - Falih says too early to decide H2 output policy in April. U.S. sanctions on Iran and Venezuela key factors.
Caracas - Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and an internal document
Tokyo - Chemical products made from U.S. shale gas are flooding Southeast Asia as Chinese tariffs keep them out of what was supposed to be their largest market.
Seoul - Exports of oil and related goods by South Korean refiners reached an all-time high last year on strong demand and higher oil prices.
Geneva - Iran has discovered oil in the southwestern Abadan region for the first time, Oil Minister Bijan Zanganeh was quoted as saying by the Mehr news agency on Wednesday.
Melbourne - Deluge of solar projects, wind farms vie for hook-ups. Grid congestion, instability slow connection approvals.
Sharjah - His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, the sovereign ruler of the Emirate of Sharjah, and Eni’s Chief Executive Officer, Claudio Descalzi, attended today the 2018 Exploration Bid Round ceremony that saw Eni being awarded Areas A, B C onshore Exploration Concession Agreements
Guadalajara - A Reuters witness said many gas stations in the city of Guadalajara in Jalisco state were closed on Sunday, and that there were long lines of motorists at those that were operating
Vienna - Saudi Arabia has been seeking to persuade Russia to cut oil production substantially with OPEC next year in a bid to halt a decline in the price of crude and prevent another global glut.
Vienna - OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a significant production cut was so far the main stumbling block
London - Oil toiled at a more than one-year low after its worst month in a decade on Friday, while most major markets were keeping moves tight ahead of a weekend meeting between U.S. and Chinese presidents Donald Trump and Xi Jinping
Seoul - U.S. has said it will give eight importers some exemptions. South Korea says it can still import Iranian condensate.
London - Exports average 1.33 mbpd in first two weeks of Oct. Iran says its oil output fell slightly in September.
London - All staff evacuated - fire services.
Ankara - Iran says more needed to save nuclear deal. France’s Total exits giant South Pars gas deal.
London - Iran seeks OPEC’s support against U.S. sanctions. U.S. will reimpose sanctions on Iran’s oil exports in Nov.
Aktau - Iran and four ex-Soviet nations, including Russia, agreed in principle on Sunday how to divide up the potentially huge oil and gas resources of the Caspian Sea, paving way for more energy exploration and pipeline projects
London - Iran said on Tuesday U.S. President Donald Trump was mistaken to expect Saudi Arabia and other oil producers to compensate for supply losses caused by U.S. sanctions on Iran, after OPEC production rose only modestly in July
San Donato Milanese - Mozambique Rovuma Venture has submitted the development plan to the government for the first phase of the Rovuma LNG project, which will produce, liquefy and market natural gas from the Mamba fields located in the Area 4 block offshore Mozambique
Moscow - Bulgaria cancelled the 2,000 megawatt plant in 2012 after failing to find investors. It had also faced pressure from Washington and Brussels to limit its energy dependence on Russia, which was under contract to build the plant.
Nairobi - Tullow Oil and its partner Africa Oil discovered commercial reserves in the Lokichar basin in 2012.
London - Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said it would reinstate sanctions on Tehran.
Basra - The agreement was signed in the southern Iraqi city of Basra, he told Reuters.
Baghdad - Iraq will hold an auction to award exploration and development contracts to international energy companies on Thursday, the oil ministry said in a statement.
London - Escalating Syria crisis lifted crude to highest since late 2014. Trade dispute between U.S. and China also keeps market on edge. Rising U.S. supplies to weigh on prices in longer term -analysts.
Abu Dhabi - Austrian energy group OMV said it has reached an agreement with Abu Dhabi National Oil Company (Adnoc) to acquire a 20 per cent stake in the concession for the two offshore oilfields in the UAE.
London - JP Morgan responds to lawsuit filed by Nigeria. Suit follows oilfield deal involving Shell and Eni.
Genova - “Ansaldo Energia and Shanghai Electric have garnered yet another order from China for two class-F gas turbines, bringing overall orders to over 30 gas turbines.” Chen Xuewen, Ansaldo’s director for Asia, was in Genoa, in representation of Ansaldo’s Chinese partner, which holds a 40%-stake
Genova - Giuseppe Zampini is quite familiar with Russia,“We’ve been in this market for 12 years.” The president of Ansaldo Energia feels almost at home, surrounded by Moscow’s delegates who attended a recent Italian-Russian seminar in Genoa
Rome - ENI is in the black again after two years of negative balance sheets,setting a production record and starting a strong trend which, if the market allows it, could also permit shareholder remuneration to improve. This is the summary of the 2017 accounts released by the Petroleum Group
London - Iraq needs $4 billion for new investments in its downstream oil industry, Iraqi Oil Minister Jabar al-Luaibi said on Tuesday, outlining plans to expand its refining capacity over the next several years.
London - Private equity firms Blackstone Energy Partners and Blue Water Energy (BWE) have reached an agreement to invest up to $1bn in Mime Petroleum, a newly formed development and production company.
Calgary - Canada is the first country outside the United States to see large-scale development of shale resources, which already account for 8 percent of total Canadian oil output.
Singapore - Oil prices posted their strongest start to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.
Baghdad - Oil exports from Iraq’s southern Basra ports rose to a record high of 3.535 million barrels per day (bpd) in December from 3.5 million bpd the previous month.
Tripoli - Armed men blew up a pipeline pumping crude oil to Es Sider port on Tuesday, cutting Libya’s output by up to 100,000 barrels per day (bpd), military and oil sources said.
Baghdad - Iraq has given foreign energy companies a month to signal their interestin building a new export pipeline from the Kirkuk oilfields in the north of the country. The new pipeline will replace an old and severely damaged section of the Kirkuk-Ceyhan pipeline
Havana - State-controlled media on Sunday ran a photograph of Castro and Igor Sechin sitting with notebooks at a table with Economy Minister Ricardo Cabrisas, after the latter two had held what was termed in a brief caption “a working meeting”.
Beijing - Coal supply seemed to have caught up following lagging behind outflows at northern transfer ports, and meanwhile power plants’ coal burns stayed high on the whole.
London - Britain’s biggest oil pipeline from its North Sea fields is likely to be shut for a number of weeks for repairs, operator INEOS said on Tuesday, sending international crude prices to their highest since the middle of 2015.
Moscow - President Vladimir Putin on Friday launched the first loading of liquefied natural gas at the Novatek-led Yamal LNG project in the Arctic, which will further expand Russia’s global energy reach. The Yamal project required investments of $27 billion
Moscow - Two Russian refiners are avoiding export duty on fuel oil and vacuum gas oil by re-naming them as an oil product that is exempt from the charge, according to a Reuters analysis of customs and refining data, and four industry sources.
Caracas - The general appointed to run Venezuela’s energy sector will bring more military officials into the senior ranks of state oil company PDVSA during a major shakeup intended to root out corruption, two company sources told Reuters on Monday.
Baghdad - Oil Minister Jabar al-Luaibi said Iraq plans to increase production from oilfields in Kirkuk to one million barrels per day and has visited the Bai Hasan and Avana fields to order work be accelerated to restore operations soon, the ministry’s spokesman said on Monday
London - Oil jumped to its highest in over two years on Monday as Saudi Arabia’s crown prince cemented his power through a crackdown on corruption, while world shares eased a notch and major currencies traded in tight ranges
Milan - TotalErg becomes API.Italy’s gas distributor, which for years was known by its brand logo of a black horse, rivalling ENI’s six-legged dog and with Esso’s ‘tiger in the engine’, is now taking over the entirety of TotalErg, the 49:51 joint venture between Total and ERG, in a deal valued at over 450 million euro
Ankara - Trump refused on Friday to formally certify that Tehran was complying with the 2015 accord even though international inspectors say it is. He warned he might ultimately terminate the agreement.
Tokyo - In July, the Japan International Corporation Agency, the World Bank and other parties agreed to finance the construction of an LNG import terminal in Bangladesh.
Paris - Total is buying Maersk’s oil and gas business in a $7.45 billion (5.79 billion pounds) deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow.
Tripoli - Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya’s Zueitina port, its first from the war-torn north African country in 5 years.
Moscow - New U.S. sanctions will make it harder for Russia to build two gas export pipelines to Europe but the projects are unlikely to be stopped.
London - The global oil industry now appears to be in the early stages of a cyclical expansion which is likely to see prices rise over the next few years, slowly at first but then accelerating later.
New York - - U.S. refineries are producing more fuel than ever as they seek to meet rising demand - from overseas, rather than the drivers on nearby roadways.
Genoa - Two of the most important companies based at the Syracuse petrochemical hub have had three of their plants under preventive seizure by prosecutors since yesterday.
Tripoli - The nation’s oil output has more than tripled over the past year as shuttered ports, pipelines and fields have reopened.
London - Over the same period, total long positions increased by just 10 million barrels, rising from 815 million barrels to 825 million barrels, according to regulatory and exchange data.
Milan - Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.
Istanbul - Iran is readying its first round of oil and gas exploration tenders since the easing of economic sanctions, hoping to attract the likes of BP and Gazprom.