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Asia's 2019 middle distillate term talks gain clarity after Formosa awards contracts

2 hours ago DieselGasoil Comments Off on Asia's 2019 middle distillate term talks gain clarity after Formosa awards contracts
Singapore — South Korean refiners singled out US Eagle Ford condensate as a potentially significant alternative to Iranian South Pars condensate. But uncertainties around quality, a narrow arbitrage window and logistical difficulties remained a major impediment to the grade’s entry into the refiners’ crude oil slate. Not registered? Receive daily email alerts, subscriber notes & Read More

Analysis: India moves its SPR plan into top gear as oil prices bite

4 hours ago DieselGasoil Comments Off on Analysis: India moves its SPR plan into top gear as oil prices bite
Singapore — India is accelerating its plans to more than double its strategic petroleum reserves, a move that would help to cushion the impact of volatile world prices at a time when analysts are betting on a robust oil consumption outlook. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

Analysis: US condensate faces hurdles as regular arbitrage supply to S Korean buyers

4 hours ago DieselGasoil Comments Off on Analysis: US condensate faces hurdles as regular arbitrage supply to S Korean buyers
Singapore — South Korean refiners singled out US Eagle Ford condensate as a potentially significant alternative to Iranian South Pars condensate. But uncertainties around quality, a narrow arbitrage window and logistical difficulties remained a major impediment to the grade’s entry into the refiners’ crude oil slate. Not registered? Receive daily email alerts, subscriber notes & Read More

OPEC seeks to maintain oil market balance, not please Trump: UAE energy minister

4 hours ago DieselGasoil Comments Off on OPEC seeks to maintain oil market balance, not please Trump: UAE energy minister
Singapore — India is accelerating its plans to more than double its strategic petroleum reserves, a move that would help to cushion the impact of volatile world prices at a time when analysts are betting on a robust oil consumption outlook. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More

Light crude imports help Mexico's Pemex to boost Tula refinery's output

12 hours ago DieselGasoil Comments Off on Light crude imports help Mexico's Pemex to boost Tula refinery's output
Mexico City — Pemex’s overall crude processing level recovers to 565,000 b/d Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Bakken crude helps to cut Tula’s fuel oil yield to 37% Pemex’s 315,000 b/d Tula Refinery saw a substantial boost in its operating levels in the first week of Read More

ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address

12 hours ago DieselGasoil Comments Off on ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address
11/12/2018 Photo: His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and Group CEO, ADNOC. Abu Dhabi — The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age, according to His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of state and Group CEO of Read More

Oil halts record losing streak as Saudis advocate supply cuts

13 hours ago DieselGasoil Comments Off on Oil halts record losing streak as Saudis advocate supply cuts
By Samuel Robinson on 11/12/2018 NEW YORK (Bloomberg) — Oil climbed the most in 2 1/2 weeks, halting an unprecedented decline, as Saudi Arabia pledged to curb output and urged allied crude producers to follow suit. Futures in New York gained as much as 1.8% after entering bear-market territory last week. OPEC Secretary General Mohammad Read More

Tidewater chooses UniSea to digitalize and standardize business processes

14 hours ago DieselGasoil Comments Off on Tidewater chooses UniSea to digitalize and standardize business processes
11/12/2018 Photo: Tidewater vessel 1. NORWAY —  UniSea AS, a software developer and consultancy specializing in solutions for the shipping industry, has announced that it has been selected by Tidewater Inc as their partner in the digitalizing and standardizing of Tidewater’s business processes related to Health, safety, environment and quality (HSEQ) and operations. The UniSea Read More

Trump reprimands Saudi Arabia for plan to reduce oil production

14 hours ago DieselGasoil Comments Off on Trump reprimands Saudi Arabia for plan to reduce oil production
11/12/2018 WASHINGTON, D.C. (Bloomberg) — President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally. “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Trump said in a Read More

Analysis: US crude supply expected to expand for eighth week amid strong production

14 hours ago DieselGasoil Comments Off on Analysis: US crude supply expected to expand for eighth week amid strong production
Highlights Commercial crude likely added 2.33 million barrels last week Surging production, capacity constraints outpacing Refinery runs Strong Bakken margins could weigh on distillate production New York — US crude supply likely expanded last week as strong domestic production outpaced gains in Refinery runs, an S&P Global Platts analysis showed on Monday. Not registered? Receive Read More