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

7 hours 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

Vietnam to remove 5% crude oil import tax from Nov 1

8 hours ago DieselGasoil Comments Off on Vietnam to remove 5% crude oil import tax from Nov 1
Singapore — Vietnam will remove the import duty on crude oil for domestic refiner Binh Son Refining and Petrochemical Co. effective November 1, the government said in a statement Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Under the decision signed by Prime Minister Nguyen Xuan Phuc on Read More

Singapore high sulfur fuel oil margins flip to positive on Saudi supply uncertainty

1 day ago DieselGasoil Comments Off on Singapore high sulfur fuel oil margins flip to positive on Saudi supply uncertainty
Singapore — Singapore high sulfur fuel oil margins turned to positive territory in mid-morning trade Tuesday as sentiment was lifted by supply uncertainty arising from the drone attacks on Saudi Arabia’s key oil facilities. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The crack spread for October 180 CST Read More

Dubai crude structure up 70 cents/b on day following Saudi supply outage

2 days ago DieselGasoil Comments Off on Dubai crude structure up 70 cents/b on day following Saudi supply outage
Singapore — November cash Dubai’s premium to futures — which had been flirting with $2/b backwardation the week prior — shot up well past that level on Monday evening at the close of trading in Singapore at 4:30 pm (0830 GMT), as sour crude markets in Asia evaluated the shut-in of 60% of Saudi Arabian Read More

Saudis tell oil buyers they’ll still get contracted volume- in heavier grades

2 days ago DieselGasoil Comments Off on Saudis tell oil buyers they’ll still get contracted volume- in heavier grades
By Bloomberg News on 9/16/2019 NEW DELHI (Bloomberg) – Saudi Aramco has told several major Asian buyers that it will supply customers with all contracted oil volumes in spite of the production cuts – but in different grades, according to people with knowledge of the matter. The attack on the kingdom’s most important oil production Read More

Saudi Sep crude loadings to Asia uninterrupted, future cuts likely: survey

2 days ago DieselGasoil Comments Off on Saudi Sep crude loadings to Asia uninterrupted, future cuts likely: survey
Singapore — Saudi Aramco’s customers across Asia continued to load September crude oil barrels from the kingdom’s facilities over the weekend and on Monday without hassle, they told S&P Global Platts. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now But customers are staying cautious amidst widespread expectation of cuts Read More

U.S. oil companies set to benefit from Saudi supply disruption

3 days ago DieselGasoil Comments Off on U.S. oil companies set to benefit from Saudi supply disruption
By Tina Davis on 9/15/2019 NEW YORK (Bloomberg) –Some U.S. oil companies are positioned to gain from the attacks on Saudi Arabia’s facilities over the weekend and an attendant rise in crude prices. The biggest moves could come from U.S. oil companies with a sizable short interest, including Apache, Continental Resources, Concho Resources, Devon Energy Read More

Asia’s crude stocks, flexible imports may cover near-term Saudi supply risk

3 days ago DieselGasoil Comments Off on Asia’s crude stocks, flexible imports may cover near-term Saudi supply risk
Asian oil consumers are unlikely to press the panic button following the latest attacks on Saudi Arabia’s critical oil infrastructure as major Saudi crude buyers in both Northeast and South Asia hold adequate oil reserves, while companies have a wide range of alternative supply sources. Not registered? Receive daily email alerts, subscriber notes & personalize Read More

Argentina hikes biodiesel (gasoil) prices 6.6% for refiners despite diesel (gasoil) price freeze

6 days ago DieselGasoil Comments Off on Argentina hikes biodiesel (gasoil) prices 6.6% for refiners despite diesel (gasoil) price freeze
Buenos Aires — Argentina’s Energy Secretariat said Thursday it has raised biodiesel (gasoil) prices by 6.6% for mixing into diesel (gasoil), a move that hits refiners and retailers as a price freeze on diesel (gasoil) prevents them from passing on the price to consumers. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Refinery News Roundup: Turnarounds in Asia-Pacific coming to an end

6 days ago DieselGasoil Comments Off on Refinery News Roundup: Turnarounds in Asia-Pacific coming to an end
London — Mangalore Refinery and Petrochemicals Ltd. has begun to restart its crude distillation unit after fixing damage caused by heavy rain, company officials said. The refinery shut Phase-III process units during the third week of August as a precautionary measure after a landslide caused by heavy rain. Not registered? Receive daily email alerts, subscriber Read More