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Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns

4 days ago DieselGasoil Comments Off on Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns
Highlights BSR to buy 2 mil barrels of WTI Midland crude for Q4 delivery Light sweet Nigerian Bonny Light crude also on shopping list Government removes import tax on crude oil Singapore — Vietnam is feeling the pressure to secure adequate crude supply as geopolitical tensions in the Middle East continue to raise Asia’s energy Read More

Chinese LPG buyers take North Sea cargoes to capitalize on open arbitrage

3 weeks ago DieselGasoil Comments Off on Chinese LPG buyers take North Sea cargoes to capitalize on open arbitrage
Singapore — Chinese buyers have bought three LPG cargoes from the North Sea for September delivery over the past week, signaling China’s growing appetite for diversified supply as it avoids US cargoes due to high import tariffs amid the escalating trade tensions, traders said. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

U.S. appeals court revives aluminum antitrust cases vs Goldman, JPMorgan, Glencore

4 weeks ago DieselGasoil Comments Off on U.S. appeals court revives aluminum antitrust cases vs Goldman, JPMorgan, Glencore
NEW YORK (Reuters) – A federal appeals court on Tuesday revived lawsuits by aluminum purchasers that accused Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), mining company Glencore (GLEN.L) and other companies of conspiring to drive up prices for the metal by reducing supply. File Photo: The logo of commodities trader Glencore is pictured in front of Read More

Exclusive: Brazil’s Petrobras refineries sale lures trading companies, PetroChina, Saudi Aramco – sources

4 weeks ago DieselGasoil Comments Off on Exclusive: Brazil’s Petrobras refineries sale lures trading companies, PetroChina, Saudi Aramco – sources
SAO PAULO/RIO DE JANEIRO (Reuters) – Brazil’s planned privatization of eight Petroleo Brasileiro SA (PETR4.SA) refineries has lured several of the world’s largest trading and oil companies as prospective bidders, two sources with knowledge of the matter said. FILE PHOTO: A logo of the Brazil’s state-run Petrobras oil company is seen in Rio de Janeiro, Read More

Demurrage costs mount for owners of contaminated Urals crude

4 weeks ago DieselGasoil Comments Off on Demurrage costs mount for owners of contaminated Urals crude
Highlights 4 tankers hold 600,000 mt of contaminated oil Ships sailed in spring, when VLCC demurrage was $30,000/day Owners may now claim higher detention costs London — Demurrage costs for holding contaminated Urals crude are mounting, withfour tankers from Baltic Sea ports still waiting to unload cargoes more thanfour months after loading, sources said Thursday. Read More

Exclusive: Humbled Noble Group seeks to rebuild LNG, energy businesses: sources

1 month ago DieselGasoil Comments Off on Exclusive: Humbled Noble Group seeks to rebuild LNG, energy businesses: sources
SINGAPORE (Reuters) – Noble Group Holdings (Noble Holdings) plans to rebuild its liquefied natural gas (LNG) and core energy businesses and develop rare earths as it seeks new life as a niche, Asia-focused commodity trader, sources aware of the matter said. The company logo of Noble Group is displayed at its office in Hong Kong, Read More

Coal being replaced by natural gas to generate electricity

1 month ago DieselGasoil Comments Off on Coal being replaced by natural gas to generate electricity
By Matthew Bristow on 8/9/2019 BOGOTA (Bloomberg) — Most CEOs paint a rosy picture when they talk about their companies’ prospects. Not Guillermo Fonseca. The CEO of Colombian coal giant Cerrejon—jointly owned by BHP Group, Glencore and Anglo American—isn’t sugar-coating anything. The industry, he says, is in terminal decline, and the company is suffering. Prices Read More

Clean energy dream fuels a dirty mineral rush

1 month ago DieselGasoil Comments Off on Clean energy dream fuels a dirty mineral rush
A future of environment-friendly energy, where dirty engines and power plants rust in history’s scrapyard, is an idyllic vision. In the cynical real world, the rush for green batteries is fueling a harmful mining boom. By 2030, there will be 140 million electric cars on Earth, and by 2040 every third vehicle will be powered Read More

Cobalt, Africa setbacks shrink Glencore’s first-half profit

2 months ago DieselGasoil Comments Off on Cobalt, Africa setbacks shrink Glencore’s first-half profit
LONDON (Reuters) – Glencore (GLEN.L) reported a 32% drop in first-half core profit on Wednesday, sending its shares to their lowest since late 2016, and said it would suspend output at the world’s biggest cobalt mine because of a steep fall in prices. FILE PHOTO: The logo of commodities trader Glencore is pictured in front Read More

Glencore first-half profit misses estimates on slump in cobalt prices

2 months ago DieselGasoil Comments Off on Glencore first-half profit misses estimates on slump in cobalt prices
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo (Reuters) – Glencore Plc (GLEN.L) posted an almost one-third fall in first-half core profit on Wednesday, missing market expectations, as it was hit by a collapse in global cobalt prices Read More