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Marathon Petroleum signs offtake agreement for IEnova’s Manzanillo terminal in Mexico

23 mins ago DieselGasoil Comments Off on Marathon Petroleum signs offtake agreement for IEnova’s Manzanillo terminal in Mexico
Highlights Manzanillo is also contracted by BP and Trafigura Terminal will serve Western Mexico, which demands 225,000 b/d of fuel Mexico City — Marathon Petroleum signed an offtake agreement for IEnova’s new Manzanillo marine terminal in Mexico’s Pacific coast, the companies said Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

Pemex production decline continues despite government stimulus, output targets

24 mins ago DieselGasoil Comments Off on Pemex production decline continues despite government stimulus, output targets
Highlights Crude output falls to 1.68 million b/d in May, still above 2019 low Gross natural gas production rises 25 MMcf/d to 4.84 Bcf/d Denver — Mexico’s state-owned producer Pemex reported a continued decline in its crude oil production last month, which was partially offset by a modest uptick in condensates, natural gas liquids and Read More

Latest US tariff threat would hurt US oil, gas output: API

2 hours ago DieselGasoil Comments Off on Latest US tariff threat would hurt US oil, gas output: API
Highlights US depends on China for key drilling fluid component API says US energy security at stake in trade dispute US Q1 crude flows to China shrink to 6,991 b/d Washington — The latest US tariffs threatened against Chinese imports would hamper US energy exports, hurt domestic energy security, and push China to import more Read More

International Petroleum Corporation announces commencement of drilling program in Malaysia

7 hours ago DieselGasoil Comments Off on International Petroleum Corporation announces commencement of drilling program in Malaysia
TORONTO, June 25, 2019 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that it has commenced drilling of the first well in a planned multi-well drilling program on Block PM307, located offshore Peninsular Malaysia. IPC is the operator of Block PM307 and holds a 75% working interest, with Read More

Putin to meet with Saudi Prince just days before OPEC+ gathers

7 hours ago DieselGasoil Comments Off on Putin to meet with Saudi Prince just days before OPEC+ gathers
By Ilya Arkhipov and Javier Blas on 6/25/2019 MOSCOW and LONDON (Bloomberg) — Russian President Vladimir Putin plans to meet Saudi Crown Prince Mohammed Bin Salman at the Group of 20 summit in Japan this week, just days before OPEC and its allies gather in Austria to discuss extending oil-output cuts. “Intense” preparations are under Read More

Why oil’s outlook could be even bleaker than expected

7 hours ago DieselGasoil Comments Off on Why oil’s outlook could be even bleaker than expected
By Bloomberg News on 6/25/2019 SINGAPORE and BEIJING (Bloomberg) — As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. While the Saudi Arabian-led efforts to restrain supply amid surging Read More

Japan’s Suntory joins rival Coca Cola to push Vietnam on plastic recycling

7 hours ago DieselGasoil Comments Off on Japan’s Suntory joins rival Coca Cola to push Vietnam on plastic recycling
TOKYO (Reuters) – Japanese beverage giant Suntory Holdings said it would work with rival Coca-Cola as well as Nestle to push the government in Vietnam, among the biggest contributors to plastic waste in the ocean, to create a large-scale recycling system. FILE PHOTO: The logo of Suntory is seen at the Suntory Musashino Brewery in Read More

Crude oil inputs to Mexico’s petroleum refineries continued to decline in 2018

10 hours ago DieselGasoil Comments Off on Crude oil inputs to Mexico’s petroleum refineries continued to decline in 2018
June 25, 2019 Source: U.S. Energy Information Administration, based on data published by Petróleos Mexicanos Crude oil inputs to Mexico’s petroleum refineries declined for the fifth consecutive year in 2018, falling to nearly 600,000 barrels per day (b/d), a 50% drop from 2013 levels. This decline in crude oil processing has coincided with a decrease Read More

Oil prices in balance between demand worries, U.S.-Iran tensions

13 hours ago DieselGasoil Comments Off on Oil prices in balance between demand worries, U.S.-Iran tensions
LONDON (Reuters) – Oil prices hung in the balance on Tuesday as concerns over declining crude demand were offset by risks to supply linked to new U.S. sanctions on Iran. FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. Picture taken December 7, Read More