The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining…
ExxonMobil said on Tuesday it plans to make a final investment decision in 2019 on what it called a 'multi-billion dollar' project that would expand its clean fuel and lubricant output at its Singapore refinery. The project is aimed at increasing…
If it were possible to boil the crude oil market down to just one determining factor for the coming months, it would be this: What will Saudi Arabia actually do? The Saudis appear to have emerged as the winners from last week's meeting of…
Saudis can produce up to 12 mln bpd if needed; can meet additional demand if any supply disruptions - Aramco CEO 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…
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said…
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil this year…
GasLog Partners announced that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned subsidiary of Cheniere Energy scheduled to commence in 2018. The charterer has options to extend the charter for up to two consecutive periods at escalating rates…
Commodities trader Trafigura has signed a second deal with Singapore LNG Corp, operator of the city-state's first liquefied natural gas (LNG) terminal, for storage and reload services, the two companies said on Monday.Under the agreement, which was signed on May 30…
ExxonMobil Corp, southeastern Australia's biggest gas supplier, is considering importing liquefied natural gas (LNG) to help plug a looming gas shortage from 2021 and protect its market share.The move would compete with plans by both Australia's no…
Venezuela has released two local executives of U.S. oil major Chevron Corp jailed since mid-April during a corruption probe in the oil sector, authorities and the company said on Wednesday. The arrests of Carlos Algarra and Rene Vasquez…
Introduction of GTC contracts could spur trading, cut costs; traders say existing system inefficient and tedious. A new umbrella contract meant to streamline trading of liquefied natural gas (LNG), bogged down in red tape and wrangling over terms…
Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines…
A liquefied natural gas (LNG) import terminal in east China operated by China National Offshore Oil Company, or CNOOC, recorded an increase of 93 percent in gas sales in the first five months of this year, the state oil company said on Monday…
AGL Energy Ltd, Australia's biggest power producer, expects to make a final investment decision on the country's first liquefied natural gas (LNG) import terminal in the financial year of 2019, a company official said on Friday.The A$250 million…
To prepare for a gradually strenghthening tanker market, Concordia Maritime decided to participate in three suezmax tankers chartered in by Stena Bulk. The 158,000 dwt vessels were built in Korea between 2012-2014. The contracts are for 12 months…
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