Thursday, July 19, 2018

Reuters News

Vitol Invests in Coal-to-oil Venture as Shipping Fuel Rules Loom

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Energy trader Vitol and coal miner Peabody Energy are partnering with start-up Arq to turn coal waste into a low-sulphur oil product that could be an alternative fuel for shippers as new U.N.

Petrobras Output in Campos Drops to Lowest Level in 17 Years

(File photo courtesy MODEC)

Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001…

Key Oil Export Terminals Reopen in Libya

Damage at Ras Lanuf terminal June 18, 2018 (Photo: NOC)

Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most…

India Cuts Iranian Oil Imports Ahead of Sanctions

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Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect…

US Oil Exports to India Soar Ahead of Iran Sanctions

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U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela…

Largest Oil Shipment Sent from Vancouver to China Since 2015

© Max Wei / MarineTraffic.com

An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years,…

Trafigura Promotes Luckock, Gillon

Trading house Trafigura has promoted its two co-heads of risk, Ben Luckock and Robert Gillon, to become co-heads of oil as part of an ongoing management reshuffle, trading sources said.Trafigura…

Oil Major Eni Pulls Out of Race for RTR Solar Assets in Italy

© Zsolnai Gergely / Photo: Adobe Stock

Italian oil major Eni has pulled out of a race to buy Terra Firma's solar power assets in Italy, a company spokesman told Reuters on Tuesday.The British private equity firm is looking to sell its Rete Rinnovabile…

Hundreds of Norway Oil Workers Go On Strike

Photo courtesy of Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping…

Hundreds of Oil Workers Strike in Norway

Photo: Harald Pettersen / © Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping…

Oil Falls After Libyan Ports Reopen, Trump Tariff Threat

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Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil…

U.S. Crude Inventories Drop by Nearly 13 mln barrels - EIA

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U.S. crude stocks fell by nearly 13 million barrels last week as refineries cut output, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration…

EPA Scraps Plan to Force US Refiners to Blend More Biofuels

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The U.S. Environmental Protection Agency ditched a detailed plan that would have forced refiners to blend more biofuels into their gasoline and diesel in 2019 to compensate for volumes…

No Contact Yet Between Parties in Norway Oil Strike

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A Norwegian union representing striking oil workers and employers' representatives were not talking to each other as of Thursday, days before a possible escalation of the industrial action.Hundreds…

Exxon Expands Mozambique LNG Project to Cut Costs

Exxon Mobil will expand its Rovuma liquefied natural gas (LNG) project in Mozambique by half to cut production costs as the partners prepare to book the plant's supply and formally tap lenders in September…

Iran Says U.S.-Caused Oil Spike Will Slow Growth, Add to Tariff Impact

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A rise in oil prices caused by the United States' sanctions policies will hurt economic growth in China, Europe and other consumers, much like President Donald Trump's trade measures, a…

Brazil Charges Former Vantage Drilling Chief with Corruption

Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering…

Russia Boosts Crude Oil Exports from Sakhalin-1

Russia plans to boost crude oil exports from the ExxonMobil-led Sakhalin-1 project to between 260,000 to 266,000 barrels per day (bpd) in the third quarter after major oil producers agreed to lift production at the end of June…

US Oil Boom Delivers Costly Surprise for Traders

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The world's biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production…

Schlumberger CFO Ayat to Retire Soon

Schlumberger NV Chief Financial Officer Simon Ayat plans to retire this year and a company insider has emerged as top candidate to replace him at the world's largest oil services firm,…

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