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U.S. sanctions China state oil trader for Iran crude deal

14 hours ago DieselGasoil Comments Off on U.S. sanctions China state oil trader for Iran crude deal
7/23/2019 SINGAPORE – The U.S. has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers. Zhuhai Zhenrong Co., the secretive company with links to the Chinese military, has a history of taking Iranian crude and Read More

Iran confirms it seized fuel tanker in the Persian Gulf

6 days ago DieselGasoil Comments Off on Iran confirms it seized fuel tanker in the Persian Gulf
By Alex Longley on 7/18/2019 LONDON (Bloomberg) –Oil extended gains after Iran confirmed it had seized a foreign oil tanker in the Persian Gulf earlier this week. Brent crude gained as much as 1.3%, reversing some of the heavy losses the global benchmark suffered in the previous two sessions. Iran’s Revolutionary Guards said it captured Read More

Oil extends loss as U.S. and Iran signal return to negotiations

1 week ago DieselGasoil Comments Off on Oil extends loss as U.S. and Iran signal return to negotiations
By Alex Nussbaum and Alex Longley on 7/16/2019 NEW YORK and LONDON (Bloomberg) —Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Futures fell as much as 3.2% in New York on Tuesday, after Read More

Vessels sailing under the radar to ship Venezuelan crude to Cuba

2 weeks ago DieselGasoil Comments Off on Vessels sailing under the radar to ship Venezuelan crude to Cuba
By Lucia Kassai and Ben Bartenstein on 7/11/2019 HOUSTON and NEW YORK (Bloomberg) — Stopping the flow of Venezuelan oil to its ally Cuba might prove harder than the U.S. expected. Tankers are being renamed and vessels are switching off their transponders to sail under the radar of the U.S. government. The vessel Ocean Elegance, Read More

Oil rides to seven-week high on Gulf storm, tightening U.S. supply

2 weeks ago DieselGasoil Comments Off on Oil rides to seven-week high on Gulf storm, tightening U.S. supply
By Alex Nussbaum on 7/10/2019 NEW YORK (Bloomberg) — Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped. Futures advanced 4.5% to the highest settlement since May 22. The storm brewing in the Gulf could Read More

Iran says seized oil tanker in Gibraltar wasn’t sailing to Syria

2 weeks ago DieselGasoil Comments Off on Iran says seized oil tanker in Gibraltar wasn’t sailing to Syria
By Arsalan Shahla on 7/7/2019 DUBAI (Bloomberg) — Iran said an oil tanker that was seized by British forces near Gibraltar wasn’t destined for Syria. The ship “was navigating in international waters,” Deputy Foreign Minister Abbas Araghchi said at a press conference in Tehran. He said the tanker wasn’t heading toward Syria, without saying where Read More

Total launches Phase 3 of Dunga field, onshore Kazakhstan

2 weeks ago DieselGasoil Comments Off on Total launches Phase 3 of Dunga field, onshore Kazakhstan
7/7/2019 PARIS — Total and its partners have approved the launch of Phase 3 development of the onshore Dunga field in the Mangystau Region of western Kazakhstan. Source: Total. Phase 3 of the Total-operated field will consist of adding wells to the existing infrastructure and upgrading the processing plant to increase its capacity by 10% Read More

Oil near $57 as smaller U.S. stockpile drop adds to economy woes

3 weeks ago DieselGasoil Comments Off on Oil near $57 as smaller U.S. stockpile drop adds to economy woes
By Alex Longley on 7/4/2019 LONDON (Bloomberg) — Oil declined as a smaller-than-expected draw in U.S. inventories added bearish sentiment to a market already reeling from gloomy economic news. Futures lost 0.4% in New York, after earlier retreating 1.5%. While American crude and gasoline stockpiles both fell for a third week, they dropped less than Read More

Equinor finds more oil in the Oseberg area

3 weeks ago DieselGasoil Comments Off on Equinor finds more oil in the Oseberg area
7/4/2019 STAVANGER — Equinor has, on behalf of the Oseberg partners, made a profitable oil discovery related to Oseberg Vestflanken. The well was drilled by the Askepott rig and the discovery will soon be put on stream via the new, unmanned and remote-operated H platform on Oseberg field. Source: Equinor. Included in the Oseberg Vestflanken Read More