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As OPEC Cuts, Traders Send European Oil Volumes to Asia
(Thursday, January 12, 2017) European and Chinese traders are shipping a record 22 million barrels of crude from the North Sea and Azerbaijan to Asia this month, seeking to plug any supply gap left by OPEC production cuts.
Freezing Med Attracts Unusual Diesel Cargoes
(Wednesday, January 11, 2017) At least one tanker carrying diesel en route to New York has been diverted in the mid-Atlantic to the Mediterranean, where freezing weather from North Africa to the Balkans has boosted demand for heating oil and sharply lifted prices.
U.S. Crude, Fuel Stockpiles Soar Amid Record High Refining - EIA
(Wednesday, January 11, 2017) U.S. inventories of crude and refined oil rose sharply and more than expected last week, with stocks of distillates hitting six-year highs, as crude imports and refining hit record highs, government data showed on Wednesday.
Canadian Crude-by-rail Exports Climb 48 Pct in October
(Wednesday, January 11, 2017) Canada shipped 102,554 barrels per day of crude oil by rail in October, up from 69,292 bpd the previous month.
Mexico's Pemex Says Protests Cause 'Critical' Border City Fuel Shortage
(Tuesday, January 10, 2017) Mexico vowed to keep a lid on prices as part of an economic plan set out on Monday to dampen widespread outrage over a major fuel price hike, though it failed to win universal backing among business groups.
Italy Monitors Gas Storage Levels As Cold Snap Drives Price Spike
(Tuesday, January 10, 2017) Freezing weather has driven Italian wholesale day-ahead gas prices up 50 percent in the past three trading sessions, prompting suppliers to step up gas withdrawals from storage.
Texas $1 Bln Carbon Project to Curb Emissions, Up Oil Recovery
(Tuesday, January 10, 2017) The carbon capture facility could become a model for CO2 collection at existing power plants in China and India, analysts said.
Oil Workers Go on Strike at Crude Flow Station in Niger Delta
(Tuesday, January 10, 2017) Nigerian oil workers have gone on strike at the Oleh crude oil flow station in the Niger Delta oil hub because they have not been paid recently, a labour union official said on Tuesday.
Nigerian Oil Union Threatens Three-day Strike at Exxon Mobil, Chevron
(Monday, January 09, 2017) A Nigerian oil labor union will stage a three-day strike at Chevron and Exxon Mobil fuel depots from Wednesday in a protest over sackings if talks with the government fail, union officials said on Monday.
U.S. to Sell 8 Mln Bbls of Crude Oil Reserves
(Monday, January 09, 2017) The U.S. Department of Energy on Monday issued a Notice of Sale for crude from its Strategic Petroleum Reserves, with bids for 8 million barrels of light, sweet oil due by Jan. 17.
Cuba, United States Sign Oil Spill Deal Before Trump Inauguration
(Monday, January 09, 2017) Cuba and the United States agreed on Monday to jointly prevent, contain and clean up oil and other toxic spills in the Gulf of Mexico, as they rush to conclude deals before President-elect Donald Trump takes office.
U.S. Crude Stockpiles Slump, Fuel Inventories Surge at Year End
(Thursday, January 05, 2017) U.S. crude oil inventories fell sharply as higher refining runs prompted a surge in gasoline and distillate stocks in the last week of 2016, the Energy Information Administration said on Thursday.
Vitol Clinches $1 Bln Pre-Finance Oil Deal With Iran-Sources
(Wednesday, January 04, 2017) Vitol has clinched a deal with the National Iranian Oil Co. to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with the matter said.
Mexican Protesters' Blockades Cause 'Critical Situation' - Pemex
(Wednesday, January 04, 2017) Blockades of fuel storage terminals by protesters angered by a double-digit increase in gasoline prices has led to a "critical situation" in at least three Mexican states, state oil company Pemex said on Tuesday.
Australia's Woolworths Sells Petrol Chain To BP For $1.3B
(Wednesday, December 28, 2016) Woolworths says it will sell its chain of petrol stations to BP for $1.3 billion.
Egypt Seeks to Import Crude Directly from Iraq
(Thursday, December 22, 2016) The move follows Saudi Arabia informing Egypt in last month that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely.
Latvian Gas Utility to Set Up New Transmission and Storage Firm
(Thursday, December 22, 2016) Shareholders in Latvian gas utility Latvijas Gaze voted on Thursday to set up a new company, Conexus Baltic Grid, to operate the Baltic state's main gas pipelines and the region's only underground gas storage.
Statoil Says Sture Oil Terminal Accident Nearly Killed Staff
(Wednesday, December 21, 2016) An accident in October at Statoil's Sture oil export terminal on the west coast of Norway, was highly serious and almost resulted in fatalities, the company said in a report on Wednesday.
U.S. Crude Stocks Rise Unexpectedly, Product Inventories Down -EIA
(Wednesday, December 21, 2016) U.S. crude stocks rose unexpectedly last week, but gasoline and distillate inventories were lower, the U.S. Energy Information Administration said on Wednesday.
Oil Tanker Firm Frontline Sees Strong Start to 2017
(Tuesday, December 20, 2016) Crude tanker operator Frontline expects strong demand for its vessels at the start of 2017 and could benefit from oil producers' pact to cut output if it forces Asian buyers to go further afield for supplies, its chief executive said.