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Norway fund may have to offload $1 billion stake in Glencore in shift away from coal

6 days ago DieselGasoil Comments Off on Norway fund may have to offload $1 billion stake in Glencore in shift away from coal
OSLO (Reuters) – Norway’s $1 trillion sovereign wealth fund may have to sell its $1 billion stake in commodities giant Glencore, among other companies that derive more than 30 percent of their revenue from coal, to meet proposed tighter ethical investing rules. FILE PHOTO: A general view of the Norwegian central bank in Oslo, Norway Read More

Mexico’s fuel market to become even more competitive in 2020: executives

1 week ago DieselGasoil Comments Off on Mexico’s fuel market to become even more competitive in 2020: executives
New York — Mexico’s already liberalizing fuel market will become far more competitive in 2020 as several private midstream projects start operations, multiple oil company executives say. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Infrastructure shortages has allowed state Pemex to control more than 90% of Mexico’s gasoline Read More

Glencore’s head of oil, Alex Beard, retires amid U.S. probes

2 weeks ago DieselGasoil Comments Off on Glencore’s head of oil, Alex Beard, retires amid U.S. probes
LONDON (Reuters) – Glencore’s head of oil, Alex Beard, who helped make the firm one of the world’s top three oil trading houses, will retire this month, the company said on Monday in yet another management shake-up amid U.S. probes into its activities. FILE PHOTO: Alex Beard, head of oil at trading firm Glencore, looks Read More

Glencore head of oil Beard retires amid U.S. probes

2 weeks ago DieselGasoil Comments Off on Glencore head of oil Beard retires amid U.S. probes
FILE PHOTO: Alex Beard, head of oil at trading firm Glencore, looks on during an interview after the opening of a gas station under the franchise G500, created from a distribution partnership by Glencore and Corporacion G500, in Tlalnepantla, state of Mexico, Mexico, August 17, 2017. REUTERS/Ginnette Riquelme/File Photo LONDON (Reuters) – Glencore’s long-serving head Read More

Zimbabwe power cuts may deepen as water levels fall at Kariba Dam

3 weeks ago DieselGasoil Comments Off on Zimbabwe power cuts may deepen as water levels fall at Kariba Dam
HARARE (Reuters) – Zimbabwe’s largest hydroelectric plant, Kariba Dam, will suspend output in 14 weeks if water levels continue to fall at the current rate, the energy minister said on Thursday, paving the way for deeper power cuts in the country. The southern African nation has endured its worst rolling power cuts in three years, Read More

Investor group to place $10 billion bet on East Med gas

4 weeks ago DieselGasoil Comments Off on Investor group to place $10 billion bet on East Med gas
By Yaacov Benmeleh on 5/23/2019 TEL AVIV (Bloomberg) — A little-known investor group is planning a major shakeup of the Eastern Mediterranean natural gas industry in a bid to unlock hundreds of billions of dollars of sales stymied by the political and industrial complexities of the region. Cynergy Group, an investment firm based in Cyprus, Read More

Vitol exec sees China as main buyer for dirty Russian oil cargoes

4 weeks ago DieselGasoil Comments Off on Vitol exec sees China as main buyer for dirty Russian oil cargoes
London — Oil traders and refiners with cargoes of contaminated Russian oil may be forced to find buyers for the unwanted shipments in China or Japan where the corrosive crude can be blended with large volumes of government-controlled strategic crude stocks, Vitol director Mike Muller said Wednesday. Not registered? Receive daily email alerts, subscriber notes Read More

Angola’s Sonangol awards annual oil products tender to Total and Trafigura

4 weeks ago DieselGasoil Comments Off on Angola’s Sonangol awards annual oil products tender to Total and Trafigura
London — Angola has signed up French oil company Total and trading house Trafigura to provide imports of key refined oil products such as gasoil, gasoline and marine gasoil for the next 12 months, state-owned Sonangol said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The news came as Read More

Petrobras plan to end refining monopoly in Brazil comes with caveats

1 month ago DieselGasoil Comments Off on Petrobras plan to end refining monopoly in Brazil comes with caveats
RIO DE JANEIRO (Reuters) – Brazil’s Petroleo Brasileiro SA drew plaudits from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some $15 billion. FILE PHOTO: The logo of Brazil’s state-run Petrobras oil company is seen on a tank in at Petrobras Read More

How Russia contaminated $2.7 billion of oil exports to Europe

2 months ago DieselGasoil Comments Off on How Russia contaminated $2.7 billion of oil exports to Europe
MOSCOW/LONDON (Reuters) – It was a quiet Easter holiday at the offices of major European oil companies and refiners when an email in Russian landed. “What the hell does it say?” one manager recalled thinking as he sent it to his Moscow office for translation. FILE PHOTO: An oil storage tank of Russian oil pipeline Read More