Crude oil
Report: Oil firms could waste trillions if climate targets reached
LONDON (Reuters) — Energy giants including ExxonMobil and Royal Dutch Shell risk wasting more than a third of their budgets on projects that will not be needed if climate targets are to be met, a thinktank report shows.
Fuel oil margins rise to five-year high, potential boon for simple refiners
SINGAPORE (Reuters) — Fuel oil profit margins have surged to their highest in more than 5 yr on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs.
Oil prices hit seven-month lows on global oversupply
LONDON (Reuters) — Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.
Chinese state oil giants take petrol price battle to the pumps
LULIANG, China (Reuters) — Chinese state oil giants Sinopec and PetroChina are waging war at the nation's gas pumps, slashing prices at unprecedented rates in an effort to reclaim sales lost to private local and foreign rivals in the $440 B retail fuel market.
Kinder Morgan Canada raises $4.6 B as Trans Mountain faces block
CALGARY, Alberta (Reuters) — Kinder Morgan Canada Ltd has raised $4.16 B for its Trans Mountain pipeline expansion and could have raised even more, the company said on Friday, despite pressure on banks to back away from the project.
China's 2017 crude oil quotas exceed last year's, teapots take a cut
BEIJING/SINGAPORE (Reuters) — China last week issued a second batch of crude oil import quotas under the so-called "non-state trade" that is higher than for all of the allowances in 2016, but allotments to independent refineries were lower than a year earlier.
Oil prices bounce but stuck near 2017 lows on supply overhang
LONDON (Reuters) — Oil prices edged up from 2017 lows on Friday but remained on track for a fourth consecutive week of losses because of excess supplies, despite OPEC-led production cuts.
Mercuria, PetroChina selling fuel oil stored offshore Singapore, Malaysia
SINGAPORE (Reuters) — Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector, several trade sources said on Friday.
In latest sign of crude glut, ageing supertankers used to store unsold oil
SINGAPORE (Reuters) — Traders are increasingly storing oil in ageing supertankers in Southeast Asia as they grapple with a supply overhang that has left the system clogged with unneeded fuel despite an OPEC-led drive to cut production to prop up prices.
Oil hits six-week low as OPEC fails to curb oversupply
LONDON (Reuters) — Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts about OPEC's ability to implement agreed production cuts.
- Transition Industries signs agreements for the Pacifico Mexinol Project, an ultra-low carbon chemical production facility 7/3
- Bangkok Airways introduces SAF on commercial flights 7/3
- EcoCeres secures SAF contract with British Airways to help reduce carbon emissions 7/3
- Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth 7/3
- MOL completes the acquisition of LBC Tank Terminals 7/3
- BHP awards charter contracts for two ammonia dual-fueled vessels 7/3
