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Motiva preliminarily picked to run Curacao refinery: report

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(Reuters) – Motiva Enterprises has preliminarily been chosen by the government of Curacao to operate the 335,000-barrel-per-day Isla Refinery, replacing Venezuela’s state-run PDVSA, local media said on Saturday. FILE PHOTO – A general view shows the Isla Refinery in Willemstad on the island of Curacao, April 22, 2018. REUTERS/Andres Martinez Casares The Refinery has been Read More

What would the end of OPEC mean?

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The Organization of the Petroleum Exporting Countries – the oil market institution that has exerted an unyielding power over the price of crude for nearly 60 years – is now in deep crisis. The latest OPEC meeting in Vienna offered new insights into the cartel’s raging civil war that is tearing it apart and threatens Read More

Iran loses market share in India as its oil exports slump in November

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India’s oil imports from Iran dropped to a one-year-low in November, plunging by 41 percent from October due to the US sanctions, Reuters reported on Thursday, citing industry sources and ship-tracking data. Iran also dropped to sixth place on India’s largest oil suppliers list, from fourth in October, losing market share to fellow OPEC members Read More

Coming changes in marine fuel sulfur limits will affect global oil markets

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December 14, 2018 For the next two weeks (December 17–December 31), Today in Energy will feature a selection of our favorite articles from 2018. New articles will resume on January 2, 2019. International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operators, refiners, and Read More

Factbox: The trading firms under investigation in Brazil graft probe

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(Reuters) – Last week, Brazilian investigators accused four of the world’s largest oil-trading firms of participating in a corruption scheme focused on Brazil’s state-controlled oil company Petrobras. Federal prosecutors allege Vitol, Glencore, Trafigura and Mercuria along with several small firms collectively paid at least $31 million in bribes over a six-year period to Petrobras insiders Read More

China's Zhoushan to go after Singapore marine hub's top billing

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ZHOUSHAN, China/SINGAPORE (Reuters) – China’s port city of Zhoushan is planning to challenge Singapore’s dominance of the multi-billion dollar shipping fuel industry, relying on proximity to some of the world’s biggest ports and Beijing’s support to give it an edge. A Sinopec oil tanker approaches cargo vessel Dongtai Baoze (L) berthed at an anchorage off Read More

Petrogress, Inc. Announces Partnership with Deliman Oil to Expand Distribution Operations into Gas Stations in Ghana, Burkina Faso and Niger

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NEW YORK, Dec. 12, 2018 (GLOBE NEWSWIRE) — Petrogress, Inc. (OTC:PGAS) announces that its Petrogress Int’l, LLC (“PIL”) subsidiary has entered into a Partnership Agreement with Deliman Oil Company Limited, a Ghanaian corporation (“Deliman”) to jointly form and co-operate a Ghanaian corporation to be known as PG&D Fueling (“PG&D”) which will operate and manage gas/refueling Read More

Oil tanker owners find solace in shale as OPEC readies cuts

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By Firat Kayakiran on 12/12/2018 LONDON (Bloomberg) — America’s shale boom could be about to spare the world’s oil tanker owners from a typical OPEC ravaging.  The producer group and allies decided on Dec. 7 to restrict output from the start of next year by about 1.2 MMbpd, adding to deeper cuts two years earlier. Read More

Alberta's output-cut mandate may be driving oil prices too high

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By Robert Tuttle on 12/12/2018 CALGARY (Bloomberg) — Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well.  Just over a week after Premier Rachel Notley announced that oil producers will be required to curtail output by 8.7%, the price of heavy Canadian crude has more than doubled, in Read More

Russia’s largest LNG project kicks into high gear

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Independent Russian gas producer Novatek announced the launch of the third train of its Yamal LNG (liquefied natural gas) Arctic project. Built in record time and on budget, the plant has now reached full capacity, the firm says. The facility is comprised of three liquefaction trains with a total capacity of 16.5 million tons per Read More