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Belarus halts transit of Russian crude to Poland & on to Europe, cites quality concerns

4 hours ago DieselGasoil Comments Off on Belarus halts transit of Russian crude to Poland & on to Europe, cites quality concerns
The transfer of Russian crude oil into Poland and further into Europe through one of the pipeline branches going through Belarus has been suspended after Warsaw refused to process the oil in its refineries citing its poor quality. Poland has stopped accepting Russian crude arriving through Belarus at the Adamovo hub since 10.00 pm Warsaw Read More

Oil hovers near six-month high as U.S. stockpile build counters supply fears

10 hours ago DieselGasoil Comments Off on Oil hovers near six-month high as U.S. stockpile build counters supply fears
NEW YORK (Reuters) – Oil prices hovered near six-month highs on Wednesday after data showed U.S. crude stockpiles surged to their highest levels since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing Read More

If US wants to enter Hormuz Strait, it must talk to Iran’s Revolutionary Guards – FM Zarif

14 hours ago DieselGasoil Comments Off on If US wants to enter Hormuz Strait, it must talk to Iran’s Revolutionary Guards – FM Zarif
If the US seeks to operate in the Hormuz Strait, the Persian Gulf’s major trade route, it must talk to those who defend it, FM Zarif said, referring to Iran’s Revolutionary Guards, which the US has declared ‘terrorists’. Anyone who enters the Strait of Hormuz has to work with regional powers providing security for the Read More

The United States exported a record volume of ethanol in 2018 for second consecutive year

19 hours ago DieselGasoil Comments Off on The United States exported a record volume of ethanol in 2018 for second consecutive year
April 24, 2019 The United States exported 112,000 barrels per day (b/d) of fuel ethanol in 2018, surpassing the record high of 91,000 b/d set in 2017. At the same time, U.S. imports of fuel ethanol decreased about 30% in 2018 to less than 4,000 b/d, which resulted in the United States exporting more fuel Read More

Angola in recovery mode with oil-block auction, new refineries on the horizon

2 days ago DieselGasoil Comments Off on Angola in recovery mode with oil-block auction, new refineries on the horizon
By Henrique Almeida on 4/23/2019 Photo: Luanda, Angola offshore field. LISBON (Bloomberg) — Africa’s second-biggest oil producer looks to benefit from a surge in crude prices that could boost companies’ appetite for investments with an auction of nine blocks this year and seeking new refineries. The tenders for the offshore areas are part of efforts Read More

U.S. making a mistake politicizing oil: Iran oil minister

2 days ago DieselGasoil Comments Off on U.S. making a mistake politicizing oil: Iran oil minister
(Reuters) – The United States has made a bad mistake by politicizing oil and using it as a weapon, Iran’s Oil Minister Bijan Zanganeh said in a parliamentary session on Tuesday, the Islamic Republic News Agency (IRNA) reported. FILE PHOTO: Iran’s Oil Minister Bijan Zanganeh arrives for an OPEC meeting in Vienna, Austria, June 22, Read More

Oil surges amid OPEC caution to offset Iran sanctions

2 days ago DieselGasoil Comments Off on Oil surges amid OPEC caution to offset Iran sanctions
NEW YORK (Reuters) – Oil prices hit their highest in about six months on Tuesday as sources said Gulf OPEC members were ready to raise output only if there was demand before offsetting any shortfall following a U.S. decision to end waivers for buyers of Iranian crude. Output in Saudi Arabia, the world’s top oil Read More

Angola in recovery mode with oil-block auction, new refineries

2 days ago DieselGasoil Comments Off on Angola in recovery mode with oil-block auction, new refineries
By Henrique Almeida on 4/23/2019 LISBON (Bloomberg) — Africa’s second-biggest oil producer looks to benefit from a surge in crude prices that could boost companies’ appetite for investments with an auction of nine blocks this year and seeking new refineries. The tenders for the offshore areas are part of efforts to lure back global explorers Read More

Trump threatens EU with retaliation over ‘unfair’ tariffs on Harley-Davidson

2 days ago DieselGasoil Comments Off on Trump threatens EU with retaliation over ‘unfair’ tariffs on Harley-Davidson
US President Donald Trump said the tariffs imposed by the European Union on Harley-Davidson were “unfair” after the American motorcycle manufacturer posted a nearly 27-percent drop in first-quarter profit. “Harley Davidson has struggled with Tariffs with the EU, currently paying 31%. They’ve had to move production overseas to try and offset some of that Tariff Read More