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Libya declares force majeure on Sharara crude loaded at Zawiya: NOC

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Dubai — Libya’s state-owned National Oil Corporation said Saturday it declared force majeure on Sharara crude loaded at Zawiya port due to an unlawful closure of a valve. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NOC said 290,000 b/d of production at the Sharara oil field has been Read More

Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks

2 days ago DieselGasoil Comments Off on Iran seizes two UK tankers, ratchets up Strait of Hormuz oil flow risks
Highlights Stena Impero chemical tanker seized, VLCC Mesdar released Iran’s IRGC says it seized Stena Bulk for shipping violation: state TV UK foreign secretary ‘extremely concerned’ by incidents Washington — Iran seized a UK chemical tanker and briefly detained a UK-owned VLCC in the Strait of Hormuz Friday, ratcheting up regional tensions and risks to Read More

Iran seizes UK tanker as tensions soar

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7/19/2019 NEW YORK – Iran’s Revolutionary Guard Corps seized a British oil tanker in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy chokepoints. Brent climbed more than 1% on the news. A spokesperson for the British government said it was urgently seeking further information and assessing the situation following Read More

Outgoing Schlumberger CEO Kibsgaard lands $6 million consulting deal

2 days ago DieselGasoil Comments Off on Outgoing Schlumberger CEO Kibsgaard lands $6 million consulting deal
7/19/2019 NEW YORK – Schlumberger’s Paal Kibsgaard may be leaving his job, but he’ll collect paychecks for years to come. The outgoing chief executive officer will continue to lift his $2 million annual salary through July 31, 2022, in exchange for providing “certain services” and agreeing not to take a job at a rival, according Read More

Shale boom architect Mark Papa named new Schlumberger chairman

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7/19/2019 HOUSTON – Schlumberger is tapping as its chairman an executive who earned a reputation for building shale producers that bypass oil service companies. Mark Papa, 72, who will take over as chairman of the world’s biggest oilfield service provider next month, helped give birth to the U.S. shale boom a decade ago by building Read More

USGC octane prices slip as gasoline complex softens, exports dip

2 days ago DieselGasoil Comments Off on USGC octane prices slip as gasoline complex softens, exports dip
US Gulf Coast octanes took a fall Thursday, softened by weaker gasoline prices and decreased exports. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Of the blendstocks, alkylate saw the steepest day-on-day fall and was assessed by S&P Global Platts at pipeline gasoline plus 48 cents/gal. The USGC gasoline Read More

Greece offers opportunity for Turkey if drilling disputes are resolved

2 days ago DieselGasoil Comments Off on Greece offers opportunity for Turkey if drilling disputes are resolved
7/19/2019 WASHINGTON – Greece’s foreign minister said his country could work together with Turkey to exploit natural resources while urging Ankara to settle its dispute with the European Union over offshore drilling in the Mediterranean. Nikolaos Dendias said in an interview in Washington that there are a wide range of issues where Greece could cooperate Read More

UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk

2 days ago DieselGasoil Comments Off on UK chemicals tanker attacked in Strait of Hormuz: owner Stena Bulk
Washington — The UK-flagged Stena Impero chemicals tanker was attacked Friday by “unidentified small crafts and a helicopter” while transiting the Strait of Hormuz and is heading toward Iran, owner Stena Bulk confirmed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iran’s Islamic Revolutionary Guard Corps said it seized Read More

Apache completes midcontinent asset sales

2 days ago DieselGasoil Comments Off on Apache completes midcontinent asset sales
7/19/2019 HOUSTON – Apache announced the completion of asset sales in the midcontinent and provided supplemental information regarding certain second-quarter 2019 financial and operational results. In May and July, Apache closed the sale of noncore assets in two separate transactions, comprising $612 million of net proceeds, subject to customary closing adjustments. A portion of the Read More

Oil pares steep weekly loss as U.S. says it downed Iranian drone

2 days ago DieselGasoil Comments Off on Oil pares steep weekly loss as U.S. says it downed Iranian drone
7/19/2019 LONDON – Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Futures rose as much as 1.9% in New York, paring their steepest weekly decline since the end of May. A U.S. Read More