Monday, August 3, 2020

Reuters News

S.Korean Refiners Post Record H1 Losses

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Two refiners in South Korea, the world's fifth largest crude oil importer, posted their biggest losses ever in the first half when oil prices slumped as the COVID-19 pandemic ravaged fuel demand.SK Innovation Co Ltd…

US Oil Exports to Europe Rebound

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The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data.U.S.

Chevron Diversity Ratio to Improve as Layoffs Progress

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Oil major Chevron Corp expects to reduce the dominance of white males in company management during cost-cutting this year, upping the share of senior level jobs held by women and ethnic minorities to 44% from 38% last year…

Gazprom Neft Sells Its First Arctic Oil Cargo to China

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Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy Port oil grade

OPEC+ Meets to Decide on Oil Output Cuts Easing

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OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy slowly recovers…

KPMG Flags Oil Trader ZenRock's Questionable Deals

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ZenRock Commodities Trading Pte Ltd is unlikely to continue its core oil trading businesses in the long term, its court-appointed supervisor KPMG Services said in a report that also raised…

Oil Industry Veterans to Launch Hydrogen Investment Fund

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Two energy industry veterans plan to launch an investment fund focused on hydrogen this year as more and more governments include the niche fuel in their global warming battle plans.Hydrogen…

China Grants Zheijang First Private Fuel Export License

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China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge…

Indonesia Produced 104.8 LNG Cargoes in Jan-June Period

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Indonesia produced 104.8 standard cargoes of liquefied natural gas (LNG) from its Bontang and Tangguh LNG plants in between January to June. Susana Kurniasih, upstream oil and gas regulator…

Iran's Oil Storage Almost Full as Sanctions and Pandemic Weigh

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Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic…

Japan's LNG Investments Drive Faces Risk of Souring

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Japan's banks and public agencies have funneled nearly $25 billion into liquefied natural gas (LNG) projects since 2017 but the investments may sour as prices plummet from the COVID-19 pandemic and as climate change risks rise…

Angola Resisting Pressure to Taper Oil Output

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Angola is resisting pressure by OPEC's de-facto leader Saudi Arabia for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.The Organization…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

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Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy…

Shale Pioneer Chesapeake Energy Files for Bankruptcy

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Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact…

UK Gov't Advised to Harness Pandemic to Speed Zero-carbon Aims

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From creating jobs in home insulation to hiking dirty fuel taxes and expanding electric-vehicle charging, Britain's government should harness the COVID-19 pandemic to accelerate cuts in planet-heating emissions…

EU Hydrogen Plan Splits Supporters Down Color-coded Lines

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Energy industry lobbyists and advocates of renewable hydrogen are divided over whether the bloc should support low-carbon hydrogen produced by fossil fuels ahead of a new EU strategy next…

New Zealand Refiner to Shrink. May Turn into Fuel Import Terminal

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Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations…

Philippines: Shell's Hydrogen Project Resumes as Covid-19 Restrictions Eased

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Pilipinas Shell Petroleum Corp said on Wednesday it has resumed construction of an integrated hydrogen manufacturing facility at its Tabangao refinery in the Philippines, after being hampered…

Oil Extends Slump as Prospect of Second Viral Wave in U.S. Ends Rally

Oil prices fell on Friday, extending heavy overnight losses as a surge in U.S. coronavirus cases this week raised the prospect of a second wave of the COVID-19 outbreak hitting demand in…

Saudi Oil Price Hike Throws Asian Lifeline to U.S. Shale

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Saudi Arabia's decision to jack up the price of its July exports to Asia may have opened the door for U.S. crude oil producers to boost sales to the region that consumes more oil than anywhere…