Crude oil
Equatorial Guinea, Arabian Energy enter agreement for African oil terminal
MALABO, Equatorial Guinea -- Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy DMCC to work together on the Bioko Oil Terminal in Saudi Arabia, the realization of the petroleum tank farm gained some important momentum.
Trump budget wants to halve oil stockpile, open Arctic refuge to drilling
WASHINGTON (Reuters) — US President Donald Trump's White House wants to sell half of the nation's emergency oil stockpile and open the Alaska National Wildlife Refuge to drilling as part of plans to balance the budget over the next 10 years, documents by the administration showed.
Rosneft cuts oil output with an eye to ramping up again
MOSCOW (Reuters) — Russia's Rosneft is ready to resume full oil output quickly once OPEC-led cuts end as the country's top producer has focused its own cuts on newer fields, its chief executive has said.
India moving beyond oil as seeks alternatives to OPEC
VIENNA/NEW DELHI (Reuters) — OPEC production cuts and the prospect of more expensive oil are pushing India to consider US and Canadian suppliers, as well as encouraging it to turn to renewable energy, the country's petroleum and natural gas minister said on Monday.
Mexico says supports OPEC cuts as way to stabilize oil market
VIENNA (Reuters) — Mexico supports an extension of OPEC's supply cuts as a way to stabilize oil markets and bring fresh investment into the country's growing energy sector, the Mexican deputy secretary for hydrocarbons said on Tuesday.
Iraq says achieved OPEC oil cut share, ready to meet new demand
LONDON (Reuters) — Iraq has achieved its share of the production cut agreement reached by OPEC and non-OPEC producers at the end of last year but remains ready to meet future oil demand growth, according to a speech by Iraqi oil minister Jabar al-Luaibi on Monday.
China says will eventually allow private companies to invest in oil storage
BEIJING (Reuters) — China will eventually allow private companies to invest in the country's oil and gas storage, the government said in a blueprint document for its energy sector that mainly underscored earlier pledges on reforming heavily monopolized oil and gas industries.
EIA: OPEC net oil revenues in 2016 were the lowest since 2004
Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 B in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 B earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports.
Full tanks and tankers: a stubborn oil glut despite OPEC cuts
NEW YORK/LONDON/SINGAPORE (Reuters) -- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.
Flotilla of US crude heads to Asia as OPEC weighs extending cuts
HOUSTON/NEW YORK (Reuters) -- Oil tankers carrying around 10 MMbbl of US crude are en route to Asia, according to shipping data and trade sources, as US producers take advantage of favorable prices to ship to the region while OPEC ponders further supply cuts next week.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
