Tuesday, March 31, 2020

Crude Oil Producer News

Pipeline Fire Kills Three in Lagos

© Paul Kowalski / Adobe Stock

A fire on a pipeline owned by Nigeria's state oil company in the commercial capital Lagos killed three people on Sunday, a Reuters witness said.The blaze broke out in…

Saudi Aramco: 2 mln bpd of Spare Capacity Exists

File Image (CREDIT: AdobeStock / © Shamtor)

Oil giant Saudi Aramco has spare capacity of 2 million barrels per day (bpd) and can meet additional oil demand in case of any interruption in supplies, the company head said on Monday…

Iran Inches Closer to Gasoline Independence

File Image (CREDIT: AdobeStock / (c) Sharrif Che'Lah)

Iran launches Persian Gulf Star refinery; gasoline imports dropped sharply in recent weeks. Iran has sharply reduced its gasoline imports in recent weeks after starting up a new refinery…

Oil, Briefly Up On Lower Rig Counts, Falls on U.S. Output Outlook

© arinahabich/ Adobe Stock

Oil prices fell on Monday on expectations that U.S. output will rise this year, erasing earlier gains buoyed by lower weekly U.S. rig counts and falling U.S. unemployment.

Ecopetrol Rubiales Oil Output Hit by Protests

Colombian state oil company Ecopetrol said on Tuesday it has suspended production at some wells in the nation's largest oil field after demonstrators seized the facility…

Rosneft to Participate in Bashneft Privatization

Photo: Bashneft

Russia's largest crude oil producer Rosneft will take part in the sale of the state's controlling stake in mid-size oil company Bashneft , Rosneft said on Friday. "Yes…

Iran: Oil Sales to Rosneft Mulled

Iran has been discussing possible oil sales to top Russian crude oil producer Rosneft, Kremlin-controlled RIA news agency cited Ali Akbar Velayati, top adviser to Iran's…

Mexico to Award Renewable Energy Contracts in March

Mexico will start soliciting bids later this month in its first auction of renewable energy certificates, part of an electricity sector overhaul that ends the state-owned power company's monopoly…

Rosneft Cuts Semi-annual Urals Sell Tender Offer in Oct-March

Russia's top crude oil producer Rosneft has cut offer at its semi-annual tender to sell Urals cargoes between October and March, industry sources told Reuters on Friday.

Nigeria Aims to Supply 20% of Gasoline Demand Itself

Major crude oil producer Nigeria aims to overcome its chaotic and crumbling refining sector to produce at least a fraction of the gasoline it needs to use itself. Its…

China to Allow Non-State Bids for Xinjiang Oil Blocks

China will allow private domestic enterprises to bid for a handful of oil and gas blocks in the far-western region of Xinjiang, the Ministry of Land and Resources said on Tuesday…

Rosneft-owned Saratov Oil Refinery Hit by Fire

A diesel tank at Saratov oil refinery, controlled by Russia's top crude oil producer Rosneft , caught fire on Tuesday, a local emergencies ministry official told Reuters.

Rosneft Announces Large Semi-Annual Oil Tender

Russia's top crude oil producer Rosneft has announced a semi-annual tender to sell oil cargoes between April and September, industry sources told Reuters on Tuesday.

Venezuela Seeks Oil Talks with Mexico

Venezuelan President Nicolas Maduro

Venezuelan President Nicolas Maduro wants to meet with his Mexican counterpart Enrique Pena Nieto to discuss a slump in crude oil prices when they attend a summit in Costa Rica at the end of January…

Cash Hoard at Russia's Surgut Swells to $30 billion

The cash reserves of Russia's third-largest crude oil producer Surgutneftegaz climbed 27 percent to 1.3 trillion roubles ($30 billion) in the nine months to September…

Rosneft CEO: No Plans to Buy Oil Assets in Russia

Igor Sechin (Photo: Rosneft)

Igor Sechin, chief executive of Russia's top crude oil producer Rosneft, said on Thursday he does not see any oil assets inside the country that could be an attractive purchase for the company.

Rosneft Awaiting Any Saipem Sale Proposal

Russian energy giant Rosneft is waiting to see what Eni plans to do with its 43-percent stake in Saipem before deciding whether to buy into the Italian oil services company.

Rosneft Could Exit Morgan Stanley Oil Deal

Rosneft, Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley 's oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations…

Not All Contangos are Created Equal

After the collapse of the global financial system in 2008, crude oil forward curves moved into steep contango. Fortunes were made in storage asset plays in 2009-2010…

Rosneft Deal to Buy Trading from Morgan Stanley Intact

Russia's top crude oil producer Rosneft said on Tuesday it aimed to complete deal to buy the majority of global physical oil trading operations from Morgan Stanley in the second half of 2014, as expected.