Sunday, June 24, 2018

Asia News

US Shifts LNG Exports to Asia as Arb Opens Ip

Photo: Cheniere Energy

The biggest divergence between U.S. and Asian gas prices in a year has created an opportunity for tankers delivering liquefied natural gas, with most departures…

West African Oil Loading for Asia to Slip in January

West African crude loading for Asia is expected to slide more than 10 percent in January as some buyers opt for regional grades or cargoes in floating storage, a…

Traders Rush to Ship US Oil as Export Window to Asia Opens

Cap Guillaume (Photo: Euromax)

Oil majors and trading houses are set to ship an unprecedented volume of U.S. crude oil to Asia in coming weeks, boosting already high flows to the region due to…

LR Tankers Taken for Gasoline Storage in Asia

Image: OFE

Singapore gasoline cracks have averaged $10.72/bbl in February so far, down by 12 percent y-o-y but still relatively firm. Robust demand from the Middle East and…

Cuts, What Cuts? Asia Gets More OPEC Crude

If you were looking for evidence of reduced crude oil supply from OPEC and its main ally in cutting output to boost prices, Russia, then stay away from Asia's top importers.

Saudis Cut Arab Light OSP to Asia

Saudi Arabia has cut its April price for its Arab Light grade for Asian customers by $0.30 a barrel versus March to a discount of $0.15 a barrel to the Oman/Dubai average…

Saudi Price Cut Adds to Asia Light Oil Glut

Saudi Aramco's decision to cut prices for lighter grades of oil for customers in Asia is a sign of just how seriously the world's top crude exporter is taking its battle with U.S.

Asia Demand, Hedging Boosts Trading in Forward U.S. Oil Contracts

File Image (CREDIT: AdobeStock)

Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom…

Saudi Aramco cuts Arab light OSP for Asia

Saudi Aramco has cut its June official selling prices (OSPs) for all the crude grades it sells to Asia, an industry source familiar with the matter said. Prices for Arab Light were cut by 40 cents…

PTT Exploration and Production Plans Asia Investment

Thailand's largest oil and gas explorer PTT Exploration and Production Pcl (PTTEP) is planning new investments or an extension of its operations in fields in Thailand…

Iran Raises Oil Exports to West, Almost on Par with Asia

© Evren Kalinbacak / Adobe Stock

Iran's oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia…

Saudis Reduce Asia Exports, Slash U.S. Volumes

File Image (CREDIT: AdobeStock / (c) Carabay)

Saudi Arabia, the world's top oil exporter, will limit volumes of crude to some Asian buyers in July and deepen cuts in allocations to the United States, industry…

Asia Tankers-VLCC Rates Supported by Floating Storage

File Image: Credit Suez Canal Authority

Trafigura hires five VLCCs to store oil; short-term storage a profitable play. Freight rates for very large crude carriers (VLCCs) could creep higher as more ships…

Europe to be Natural Gas Kingmaker

File Image: CREDIT MISC

It's probably not quite here yet, but the trend is unmistakeable; the world is moving to a globally-linked natural gas market and the rise of liquefied natural gas (LNG) is the key driver.

Asia Demand for U.S., Atlantic Basin Crude Oil Jumps

The Port of Corpus Christi is now a major U.S. export gateway for crude oil. CREDIT: Port Corpus Christi

Japan refiners book US crude cargoes for Sept delivery. Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese…

Asia's Booming Diesel Market Draws Rare European Cargoes

File Image: CREDIT BMT

Rare cargoes booked out of Europe to Asia, Middle East; Indian demand, refinery maintenance boost Asian prices. Oil traders are shipping diesel out of Europe to…

Asia's Gasoline Party Crashed by China, India

If you had asked Asia's refiners at the start of the year where they thought their profits would be coming from, it's likely many would have said gasoline. But China…

China overtakes S. Korea as Asia's biggest Forties Crude Buyer

File image: Credit Suez Canal Authority

Shell to send 10 mln bbls Forties to China May-Sept; koch unloads 2 mln bbls in July. China has surpassed South Korea as the top destination in Asia for North Sea…

Asia's LNG Market Keeps Disappointing

The liquefied natural gas (LNG) industry has morphed from energy's golden child to black sheep in the last two years, with demand slumping just as supplies soars.

Asia Fuel Oil-Traders on Sidelines Awaiting Price Drop

Asian fuel oil traders sat on the sidelines on Tuesday as a fall in crude prices made them wary of taking positions in case prices moved lower. Fuel oil prices have…