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Refinery news roundup: Midwest refineries restart as flood waters recede; planned work ends

2 days ago DieselGasoil Comments Off on Refinery news roundup: Midwest refineries restart as flood waters recede; planned work ends
New York — The Midwest refining complex is getting back to normal as a particularly heavy turnaround season ends and flood waters recede after a spate of heavy rain impacted local operations. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now HollyFrontier restarted the 70,000 b/d East Plant of its Read More

North Dakota oil production flat on month in April, natural gas hits all-time high

3 days ago DieselGasoil Comments Off on North Dakota oil production flat on month in April, natural gas hits all-time high
Highlights April oil output slips slightly to 1.391 million b/d Natural gas production averages over 2.86 Bcf/d Washington — North Dakota oil production averaged just over 1.391 million b/d in April, down just 572 b/d from March and down about 12,600 b/d from January, when the state’s record-high output was reached, according to North Dakota Read More

Mexico’s CNH cancels Pemex onshore farmout auctions

3 days ago DieselGasoil Comments Off on Mexico’s CNH cancels Pemex onshore farmout auctions
Highlights Fields have combined 58,000 b/d, 310 MMcf/d production potential Follows earlier auction cancelations, moves to bolster Pemex Houston — Mexico’s Comision Nacional de Hidrocarburos has announced plans to cancel a joint venture auction for state-owned Pemex in seven onshore areas, previously scheduled for October, under pressure from the Lopez Obrador administration. Not registered? Receive Read More

Crude settles higher on supply concerns as traders eye Strait of Hormuz

3 days ago DieselGasoil Comments Off on Crude settles higher on supply concerns as traders eye Strait of Hormuz
New York — Supply concerns remain after Thursday’s tanker attack Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now UN Secretary-General calls for independent investigation IEA monthly report sees growing non-OPEC crude supply Crude futures settled higher Friday as supply concerns stemming from the attack on two oil tankers near Read More

FACTBOX: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack

3 days ago DieselGasoil Comments Off on FACTBOX: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
London — Risk levels associated with shipping crude oil and LNG via the Strait of Hormuz, the Middle East’s key shipping artery, have escalated sharply, inflating tanker costs in the region. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now US Secretary of State Mike Pompeo said Thursday the Front Read More

Interview: US oil supply keeping lid on prices despite global risks: IEA chief

3 days ago DieselGasoil Comments Off on Interview: US oil supply keeping lid on prices despite global risks: IEA chief
Tokyo — Growth in US oil production has kept prices at “reasonable levels” despite the recent oil tanker attacks near the Strait of Hormuz and other supply risks around the world, International Energy Agency chief Fatih Birol said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “There is substantial Read More

Middle East tanker attacks send ship insurance soaring

3 days ago DieselGasoil Comments Off on Middle East tanker attacks send ship insurance soaring
Highlights Rates demanded up to 20 times higher Underwriters reluctant to offer coverage Muted impact on freight rates London — The recent spike in attacks on tankers near the Persian Gulf is inflating insurance premiums for ships transiting through the wider Middle East, increasing the cost of transporting oil from the region. Not registered? Receive Read More

Crude futures lower on diminishing supply fears, bearish outlook

3 days ago DieselGasoil Comments Off on Crude futures lower on diminishing supply fears, bearish outlook
London — Crude oil futures fell back slightly Friday following the market’s bullish reaction Thursday to the attacks on two oil tankers near the Strait of Hormuz, amid diminishing supply concerns and a weak global outlook. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 1120 BST (1020 GMT), Read More