Energy News

Oct 22 - U.S. slows down oil and gas mergers - sources

U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden's administration scrutinizes deals in a bid to tackle soaring energy prices, according to regulatory filings and corporate lawyers. The slowdown comes amid growing pressure on policymakers to respond to consumer angst over skyrocketing retail gasoline prices, as U.S. crude futures hit multi-year highs.

Oct 22 - From doom to boom, energy stocks power out of COVID shock

After enduring a near-death experience during the COVID crisis when demand plummeted and being distinctly off-trend as the sustainable investing wave engulfed Wall Street, cash-rich oil companies are again a sweet spot for fund managers. Oil's powerful rally and record-high gas prices have put the MSCI World Energy index on track for its best run since at least 1998, up more than 40% so far in 2021.

Oct 21 - Brazil's fuel production dips slightly amid maintenance, expansion efforts: Petrobras
Petrobras previously warned distributors it may not be able to meet stronger-than-usual demand for diesel, gasoline in November.

Oct 21 - Crude futures pull back from multiyear highs as pandemic concerns prompt profit-taking
Despite near-term demand pressures, forward structure continues to reflect longer-term bullish sentiment.

Oct 21 - Russia September refining throughput rises 4.7% on year to 22.746 mil mt

The year-on-year increase in throughput was due to run cuts last year, while the monthly decrease was due to autumn refinery turnarounds.

Oct 21 - Demand for all kinds of energy is 'insatiable' as focus turns to storage ahead of winter: BP CEO
There are "questions around supply and demand in the market and of course when you start heading into the winter people begin to worry and then you have a degree of speculation entering the market,' BP CEO Bernard Looney said at the India Energy Forum by CERAWeek.

Oct 21 - Global oil refiners crank up output as margins recover to pre-COVID levels

Oil refiners are ramping up output to meet a synchronised uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices will constrain supply in the fourth quarter, company officials and analysts said. This comes as profits for producing ground transportation fuels such as diesel and gasoline have rebounded globally for the first time since the start of the pandemic, as countries gradually emerge from COVID-19 movement restrictions. 

Oct 21 - U.S. crude, fuel stocks dip, tightening supply as demand remains strong - EIA

U.S. crude and fuel inventories tightened further last week, as supplies of gasoline hit a two-year low and inventories at the largest U.S. commercial storage hub dropped to a three-year low, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 431,000 barrels in the week to Oct. 15 to 426.5 million barrels, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel rise.

Oct 20  - Crude rally extends as surprise US inventory draw tightens supply outlooks
Draw runs counter to market expectations of a continued build.

Oct 20  - OPEC+ 'limited' in its ability to mitigate rising oil prices:
Saudi energy minister
Dated Brent prices have more than doubled in the last year, with S&P Global Platts assessing the benchmark at $85.03/b on Oct. 19.

Oct 20  - Goldman's Currie sees 'lot of upside risk' to year-end $90/b Brent price call

At the end of September, Currie said Goldman estimated that the global oil market was undersupplied by about 4.5 million b/d, or 5% of global demand, as economies bounced back from the pandemic.

Oct 20  - Japan Oil product exports fall 36.8% on week to 2.66 mil barrels

High sulfur fuel oil exports slid 24.3% from the previous week to 289,403 barrels in the week to Oct. 16, while low sulfur fuel oil exports rose 13% on the week to 775,714 barrels.

Oct 20 - Texas refinery workers overwhelmingly reject Exxon contract offer

Union workers at Exxon Mobil Corp's Beaumont, Texas, oil refinery overwhelmingly rejected the company's six-year labor contract on Tuesday, extending a lengthy standoff over job assignments. Exxon locked out the plant's 650 union workers on May 1, replacing them with managers and temporary staff as it pushed for a contract that gives it control over how jobs are assigned ahead of a major expansion, and sets a freeze on some workers' pay.  

Oct 20 - India plans refiners' joint oil deals to cut import bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world's third largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it from Middle East producers.

Oct 19  - Crude rally extends as global energy crunch tightens fundamental outlooks
Crude oil futures settled higher Oct. 19 as the global energy crunch pressured supply outlooks.

Oct 19  - Petroecuador sells 2.85 million barrels fuel oil No. 6 to Petrochina
Petroecuador last awarded a tender offering 950,000 barrels of fuel oil No. 6 to Trafigura at a $2.59/b discount to Platts US Gulf Coast high sulfur fuel oil assessments.

Oct 19  - Crude rises amid continuing global under-supply

There was some selling interest Oct. 18 following the publication earlier that day of weaker economic data from China and figures showing declining crude oil processing in the country.

Oct 19  - Russia's St. Petersburg oil terminal handles more heavy products in Jan-Sep

St. Petersburg oil terminal is one of the main exporting outlets for Russia's fuel oil, with fuel oil arriving via rivers during the summer months.

Oct 19  - Dutch Jan-Sep oil product throughput at Rotterdam up, boosted by fuel oil, gasoil, naphtha
Russian imports of fuel oil rose due to higher production and exports from Russia.

Oct 19  - Celsius orders four 'ultra-eco' LNG carriers, to be chartered by Gunvor subsidiary
The vessels' highly efficient design minimizes CO2 emissions and methane slip from operations via installation of air lubrication, optimization of hull shape and use of the best available paint system to reduce the vessels' friction in water, the company said.

Oct 19  - China Sep oil product exports jump 28% on month, leave less quota for Q4
Market sources expected Chinese oil companies would suspend exporting gasoline and gasoil in November and December following a month-on-month reduction in October due to tight supply in the domestic market, while export quotas were running out.

Oct 19  - Vietnam Sep oil product imports fall 34% on year to 294,549 mt
South Korea remained the largest supplier of oil products in the month, followed by Malaysia, China, Singapore and Thailand.

Oct 19 - Britain's fossil fuel dilemma in the spotlight as climate talks near

Britain faces a fossil fuel dilemma: it can burnish its green credentials by halting new oil and gas development in the North Sea, yet doing so will leave it more reliant on imported fuel. How Britain charts a course to achieve net zero emissions by 2050 will be under scrutiny when it hosts the COP26 climate conference in Glasgow, Scotland, starting on Oct. 31.

Oct 19 - OPEC+ misses target again, as some members struggle to raise oil output

OPEC+ compliance with oil cuts fell slightly to 115% in September, sources said, indicating that as the alliance raises production targets, some members are still falling short as they face challenges in pumping more oil. The Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as the alliance is known, raised its output targets by 400,000 barrels per day (bpd) in September.

Oct 18 - China refinery throughput hits 16-month low as quota, power crunch bites

China daily crude oil processing rate fell again in September, to the lowest since May 2020, as feedstock shortage and environmental inspection crippled operations at refineries and a power crunch dampened refined oil demand from downstream users. Throughput last month fell 2.6% from a year earlier to 56.07 million tonnes, or about 13.64 million barrels per day (bpd), National Bureau of Statistics (NBS) data showed on Monday.

Oct 18 - U.S. refiners set for higher earnings on fuel demand strength

U.S. refiners are expected to show higher earnings for the third quarter as margins to sell gasoline and diesel have improved despite the surging cost of crude oil, analysts said. After more than a year of depressed fuel demand, gasoline and distillate consumption is back in line with five-year averages in the United States, the world's largest fuel consumer.

Oct 15  - Italy's Eni starts SAF production at Taranto refinery
SAF from Taranto is being produced with 0.5% of used cooking oils through 'co-feeding' process for conventional plants. A lower-carbon alternative to conventional jet fuel, Eni's SAF is produced exclusively from waste and residues, in line with the company's decision not to use palm oil from 2023.

Oct 15  - Crude extends rise on product demand, tight supply
Crude oil futures extended gains in mid-afternoon trade in Asia Oct. 15 as expectations of strong demand due to rising mobility trends and shortfalls in natural gas and coal supplies for power generation continued to boost sentiment.

Oct 15  - US Treasury's latest crackdown on ransomware puts focus on sanctions compliance

The US Treasury Department Oct. 15 announced new steps to thwart sanctioned persons and other illicit actors from exploiting virtual currency to facilitate ransomware attacks, as the US continues to step up its efforts to prevent cyber intrusions to critical infrastructure.

Oct 15  - Brent tests $85/b threshold as demand recovery pressures supply outlooks
Crude futures settled at fresh multi-year highs Oct. 15 as a continued recovery in global energy demand added pressure to near-term supply outlooks.

Oct 15  - Global mobility recovers to fresh post-COVID high despite European woes

Global airline capacity recovered further in the week starting Oct. 11, as a wider return to travel supporting passenger numbers in the world's two biggest economies saw capacity move to within 30% below normal pre-COVID levels.

Oct 15  - Prices firm amid supply concerns despite production ramp-ups

The International Energy Agency raised its global oil demand estimate for 2021 by 170,000 b/d to 96.3 million b/d and for 2022 by 210,000 b/d to 99.6 million b/d in its monthly report on Oct. 14.

Oct 15 - China cuts 2021 independent refinery oil import quotas

China has issued a new batch of oil import quotas for independent refiners for 2021 that show the total of annual allowances was cut from last year, according to documents reviewed by Reuters on Friday and confirmed by trade sources. The latest batch of quotas was 14.89 million tonnes, according to the documents.

Oct 15 - Gasoil drives Asian refinery margins back to pre-COVID levels

Asian oil refiners' margins have rallied back to their highest since before the COVID-19 pandemic struck, spurred by a doubling of gasoil profits as the global economic recovery and power shortage drive demand for the fuel, analysts and traders said. Gasoil demand has surged as power generators seek alternatives to record-high natural gas and coal and as industrial consumption has climbed while economies reopen from COVID-19 restrictions.

Oct 14 - NYMEX product futures rally on back of US gasoline, distillate draws
NYMEX refined product futures pushed higher Oct. 14 on the back of drawdowns in US gasoline and distillate inventories.

Oct 14 - IEA sees faster demand growth, OPEC+ supply could catch up early 2022

The current energy crunch could boost demand by 500,000 b/d compared with normal conditions through to the first quarter of 2022, the IEA said.

Oct 14 - US crude stocks see larger-than-expected build on rising production, lower refinery demand
US crude oil inventory builds extended in the week ended Oct. 8, US Energy Information Administration data showed Oct. 14, amid rising production and a seasonal downturn in refinery demand.

Oct 14 - House GOP members press Granholm on steps DOE will take on higher energy prices

Republicans on the House Energy and Commerce Committee wrote Energy Secretary Jennifer Granholm Oct. 14 to ask what her plan is to prepare for high energy prices and the potential for supply shortages ahead of the winter season.

Oct 14 - UK's road fuel sales drop back after panic buying drains pumps
The data shows the UK's road fuel sales spiked to double the previous average sales per site on Sept. 24, a day after news broke that a small number of UK pumps had run dry due to a long-running shortage of tanker drivers to restock retail networks

Oct 14 - Japan's Fuji Oil refinery restarts fire-hit secondary unit at Sodegaura
Only the unit stopped due to the earthquake, and the sole crude distillation unit has been operating normally and the waterborne and rack shipments of oil products have continued.

Oct 14 - Russia says it can supply more oil if needed, as OPEC+ continues to unwind cuts
Russia's crude production targets under the OPEC+ accord are 9.809 million b/d in October and 9.913 million b/d in November, though it has regularly pumped in excess of its quota.

Oct 14 - Oil Futures Bullish sentiment resumes on the undersupply expectations

OPEC did not change its approach to gradually increasing oil output this year, as agreed in its July meeting.

Oct 14 - Sept global refinery throughput falls, erasing Aug gains: IEA
September refinery runs, at 77.6 million b/d, were negatively affected by Hurricane Ida, seasonal maintenance and "indications of stagnant Chinese activity."

Oct 14 - OPEC trims 2021 demand forecast but says gas price surge could help

OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users switch. The Organization of the Petroleum Exporting Countries (OPEC) now expects oil demand to grow by 5.82 million barrels per day, (bpd), down from 5.96 million bpd in its previous forecast, saying that the downward revision was mainly driven by data for the first three quarters of the year. 

Oct 14 - White House asks U.S. oil-and-gas companies to help lower fuel costs -sources

The White House has been speaking with U.S. oil and gas producers in recent days about helping to bring down rising fuel costs, according to two sources familiar with the matter. In the United States, the average retail cost of a gallon of gas is at a seven-year high, and winter fuel costs are expected to surge, according to the U.S. Energy Department.

Oct 13  - Refined product cracks firm on increasingly bullish demand outlooks
NYMEX refined product cracks widened Oct. 13 as bullish winter heating demand outlooks supported near-term futures prices.

Oct 13  - US House panel approves tougher offshore rules after California oil spill

The US House Natural Resources Committee advanced two bills Oct. 13 to set tougher safety rules and impose new fees on offshore operators after an oil pipeline ruptured off Southern California and polluted beaches.

Oct 13  - North Dakota oil output rises 3% on month to 1.1 million b/d in August

North Dakota oil production is back on the rise, albeit slowly, as operators bring drilling rigs back to the state in response to higher prices, according to the latest Department of Mineral Resources data released Oct. 13.

Oct 13  - Global fossil fuel demand set for 2025 peak under net-zero pledges
Published with a view to inform discussions at the COP26 climate talks in November, the closely watched long-term energy outlook includes the IEA's Net Zero Emissions Scenario which it first published in May, as a pathway to limit global warming to 1.5 degrees by 2050.

Oct 13  - LNG suppliers balk at Pakistan LNG 8 cargo tender on new bid provisions
The lack of supplier interest, despite record high spot LNG prices, has raised concerns that Pakistan could face severe gas shortages leading to energy rationing in the peak winter months.

Oct 13  - US refiners to see improved Q3 financial results on lower RINs, higher demand

Stronger financial results are expected from US refiners when they release their Q3 earnings over the next few weeks, a testament in part due to rising demand for gasoline and diesel and lower compliance costs for renewable fuel programs.

Oct 13  - Oil, gas sector sees little relief from White House move to tackle supply bottlenecks
A White House initiative to address supply chain bottlenecks, announced Oct. 13, was not viewed as particularly helpful to the energy space as fuel prices continue their upward trajectory and higher home heating and electricity costs are expected this winter.

Oct 13  - Oil price draws capital to Bakken, but drillers cautious about OPEC, pandemic

With WTI crude futures at $80/b and Bakken barrels commanding a slight premium above that, large US drillers aim to boost Bakken production as they keep a cautious eye on OPEC supply and the pandemic going into the winter months, North Dakota's top oil regulator said Oct. 13.

Oct 13  - PetroTal says able to produce crude in Peru despite line outage
Canadian producer PetroTal said it has enough crude oil storage capacity to maintain normal production at its Block 95 concession in the northern Peruvian jungle while pumping remains halted at Petroperu's 200,000 b/d North Peruvian Oil Pipeline.

Oct 13  - Hungary Q3 fuel demand up 4.8% on year, led by diesel
Fuel demand in Hungary increased in the third quarter rose 4.8% year on year, data published on Oct. 13 by the Hungarian Petroleum Association (MASZ) showed.

Oct 13  - Japan Oct 3-9 oil product exports fall 1% to 4.22 million barrels
Japan's oil product exports fell 1.4% on the week to 4.22 million barrels over Oct. 3-9, data released by the Petroleum Association of Japan showed Oct. 13.

Oct 13  - Japan Oil products output falls 3.4% on week over Oct. 3-9
Japan's oil products output fell 3.4% week on week to 16.17 million barrels over Oct. 3-9, data released Oct. 13 by the Petroleum Association of Japan showed.

Oct 13  - Mexico's imports of US gasoline, diesel fall in September as demand dips
Mexico's imports of US gasoline and diesel fell in September to their lowest level in more than six months as demand waned, data from the country's energy secretariat showed Oct. 11.

Oct 13  - PDVSA processing rate at CRP complex rises to 23.6%
Located in northwestern Venezuela, CRP includes the 645,000 b/d Amuay and 310,000 b/d Cardon refining facilities. It also includes the 16,000 b/d Bajo Grande asphalt plant, which has been out of service for several years.

Oct 13 - China crude imports down 15% on yr, gas imports at 9-mth high

China's September crude oil imports fell 15.3% from a year earlier, data showed on Wednesday, as companies drew on inventories amid rising global prices and as tightened import quotas continued to constrain purchases. Meanwhile, natural gas imports rose to the highest since January at 10.62 million tonnes, according to data from the General Administration of Customs, as companies built up inventories ahead of the peak winter heating season amid a shortage of coal for electricity generation that has triggered widespread power outages. 

Oct 13 - U.S. oil and gas M&A activity in third quarter pulls back from 2-yr peak

Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in the July-September quarter totaled $18.5 billion, down 44% from the second quarter, even as it beat the five-year quarterly average M&A value.

Oct 12  - Crude lacks direction as market looks to US inventory reports for pricing cues
Oil futures lacked direction Oct. 12, as the market looked toward US inventory numbers for next direction.

Oct 12  - Russia Jan-Sep throughput at seaports rises 1.7% on year despite low oil volumes
There are signs that oil throughput could rise; Russian crude and condensate output increased by 2.7% on the month to 43.86 million mt -- or 10.72 million b/d -- in September, according to data released by the Central Dispatching Unit of the Russian Energy Ministry Oct. 2.

Oct 12  - UK's fuel delivery shortage 'remains serious' despite improving pump supplies

On Oct. 7, the PRA estimated that 12% of filling stations in London and the Southeast were dry, while 17% had just one grade of fuel.

Oct 12  - Russia Jan-Aug oil product exports up 0.3% on year

Russia exports diesel, fuel oil and jet fuel to international markets, and recently started exporting gasoline to Northwest Europe for onward shipment to Africa and the Americas.

Oct 12  - Refinery : Some maintenance continues in Africa
Nigerian National Petroleum Corp. has called an emergency meeting with the oil workers' union Nupeng to starve off a strike by fuel truck drivers billed to commence Oct. 11, the state energy company's spokesman said.

Oct 12  - Japanese utilities on cold winter alert after La Nina outlook

There is a 60% probability of having La Nina towards winter, but energy companies were not yet changing their winter fuels plans, market sources said Oct. 12.

Oct 12  - Crude maintains uptrend as oil supply concerns remain

The latest oil price rise comes on the back of the OPEC+ alliance's most recent meeting in which members agreed not to expand oil supply further.

Oct 12  - Gulf fiscal breakeven oil prices to drop in 2022 on higher crude output, govt spending:
Saudi Arabia, the world's biggest oil exporter, will see its fiscal breakeven fall to $67/b in 2022, from $75/b in 2021.

Oct 12  - Refinery : France's Feyzin offline apart from FCC after fire last week: source
Operations are likely to remain disrupted for at least a month, a source said.

Oct 12  - India's motor fuel demand to rebound in Nov, Dec as mobility picks up
The gradual rise in activity comes despite earlier concerns that the country could experience a third wave of the coronavirus, but while the country has seen a resurgence of COVID-19 cases in some areas, it was not yet severe enough to derail the overall recovery upswing, analysts told S&P Global Platts.

Oct 12 - White House stands by calls for OPEC+ to do more on oil prices -official

The White House stands by its calls for oil-producing countries to "do more" to support the global economic recovery, an official said on Monday, as crude prices hit multi-year peaks. The official said the administration was closely monitoring the cost of oil and gasoline and "using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets." 

Oct 12 - Chevron commits to net zero operational emissions by 2050

Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure on energy companies to join the fight against climate change.

Oct 11  - Crude pushes to fresh highs as market eyes tighter supply outlooks
Crude oil futures settled at fresh highs Oct. 11 as the market eyed ever-tightening supply outlooks driven in part by surging global natural gas pricing.

Oct 11  - Asian refiners unhappy with OPEC+ supply, expect Iranian crude to balance market
Platts Analytics said the US and Iran could reach a deal in Q1 2022 after lengthy nuclear talks and negotiations.

Oct 11  - Crude extends uptrend on tightening supply outlook
"Crude oil gained amid a broader rally in the energy sector as fears of strong demand and supply shortage continue to grip the market," ANZ said in a note.

Oct 11  - Carbon intensity set to be major driver for the future of crude
The need to pursue aggressive decarbonization has become ever more urgent, with the Intergovernmental Panel on Climate Change's most recent report underscoring that climate change will almost certainly breach the 1.5 degree C objective set out in the Paris Climate Agreement within the next 30 years.

Oct 11  - Tighter supply and soaring gas prices drive European middle distillate crack rally
Jet fuel has led the rise, with the paper front-month FOB Rotterdam jet barge crack versus ICE Brent rising 34% in the 10 days to Oct. 8, when it was assessed at $12.41/b, having touched a 21-month high at $12.72/b Oct. 5.

Oct 11  - Crude at fresh multi-year highs on tight supply
"The oil market is very tight with significant lack of supply on the oil side and energy in general," Michael Poulsen, Senior Risk Oil Manager at Global Risk Management said.

Oct 11 - Saudi to supply additional crude to some Asian refiners in Nov -sources

Saudi Aramco has agreed to supply additional crude to at least two North Asian buyers in November, while meeting full contractual volumes for three others, sources with knowledge of the matter said on Monday. Full supply volumes were expected for the month, one of the sources said. 

Oct 11 - Exxon discusses new terms with union representing locked-out Texas refinery workers

Exxon Mobil Corp said on Saturday it and the United Steelworkers union, the union representing workers locked out of a Texas refinery, discussed terms of a proposed labor contract. Exxon said it provided clarifications to its latest proposal and rejected the union's proposed changes to that offer, saying they would raise its costs.

Oct 08 - Asian gasoil prices hit multi-year highs; rally likely to continue to year-end

Asian gasoil prices are expected to outperform those of other refined products in the run-up to year-end, as demand from industry and power generators give it an edge over other transportation fuels that still face mobility restrictions. Steady arbitrage demand from Europe ahead of winter and reduced exports from China have boosted gasoil prices in Asia in recent weeks, propelling spot gasoil to its highest in three years. 

Oct 08 - Exxon accuses USW of 'voter suppression' in message to locked-out Texas refinery workers

Exxon Mobil Corp in a message to locked-out workers at its Beaumont, Texas, refinery accused the United Steelworkers union (USW) of misinformation and voter suppression, a day after a campaign to remove the union cleared a crucial hurdle. "We look forward to continuing to give the facts, particularly as the USW continues its campaign of misinformation and voter suppression," the company said in the message posted online late on Thursday.

Oct 07 - OPEC+ caution and money behind reluctance to pump more oil - sources

OPEC+'s decision on Monday to stick with a plan to raise oil output modestly and gradually, despite prices surging to multi-year highs, was partly driven by concern that demand and prices could weaken, sources close to the group told Reuters. The other big reason is money. After seeing their income slide during the pandemic-induced demand and price collapse in 2020, the OPEC+ oil producers' alliance led by Russia and top exporter Saudi Arabia are enjoying the boost in revenues, three OPEC+ sources said.

Oct 07 - Union at Exxon Beaumont, Texas, refinery faces removal vote

Members of the union representing locked-out workers at Exxon Mobil Corp's Beaumont, Texas, refinery have submitted a petition to force a vote on removing the union, the union and company said on Wednesday. Exxon and the local United Steelworkers union said they were notified by the U.S. National Labor Relations Board, which will oversee the vote, that a petition calling for removal had been filed.

Oct 06 - Winson Group denies allegations it supplied oil to North Korea
The statement sought to refute claims published in the UN Panel of Experts' Midterm Report dated Sept. 8, 2021.

Oct 06 - Big oil courts U.S. clean-energy startups in bid to speed green transition

U.S. clean-energy startups are booming as oil companies are giving them more attention and cash in a bid to speed up their own green transitions. Investors want oil producers to accelerate a move away from fossil fuels by selling cleaner energy and developing technology to eliminate climate-warming gases. 

Oct 06 - Pipeline from California oil spill was moved 105 feet along sea floor

A section of the oil pipeline that burst off the Southern California coast was displaced 105 feet (32 meters) across the ocean floor, officials said on Tuesday, fueling speculation that a ship's anchor may have caused the environmental disaster. The revelation came as the U.S. Coast Guard and drilling company Amplify Energy Corp came under further scrutiny about the time it took to respond to the spill, amid reports that mariners first reported seeing oil in the water on Friday night, when official notification did not come until Saturday around midday.

Oct 05 - OPEC+ sticks to plan for gradual oil output hike, price roars higher

OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, have faced calls from big consumers, such as the United States and India, for extra supplies after oil prices surged more than 50% this year.

Oct 05 - Major traders split on oil but see lower gas prices next year

Three of the world's biggest oil traders were at odds about where the oil price would be this time next year, with Vitol taking a bearish view while Gunvor and Trafigura stayed bullish. Benchmark Brent crude surged above to $81 a barrel on Monday, hitting a three-year high and up more than 50% so far in 2021.

Oct 04  - U.S. Justice Department probes suspected manipulation of Platts benchmarks - sources (Reuters)

 - The U.S. Department of Justice is investigating suspected manipulation of energy pricing benchmarks published by S&P Global Platts, expanding the agency's crackdown on misconduct in the global commodities market, according to four people familiar with the matter. London-based Platts is a data and news provider which focuses on energy, metal and agricultural commodities. The company collects data from traders on their deal prices to determine a daily market price for a number of physical commodities. U.S. prosecutors are probing suspected manipulative behavior by individual traders when submitting those deal prices to Platts' price assessments for oil and other energy benchmarks, the four people said, without specifying which ones.

- The people declined to be named as the probes are not public.
Over the past year, U.S. authorities have brought two cases of alleged manipulation of Platts' oil benchmarks by traders at two different companies, but prosecutors are now probing similar behavior across the market, the sources said. The previously unreported, industrywide probe opens up a new front in the Justice Department's crackdown on fraud, bribery and manipulation in the commodities market, raising the stakes for traders and companies globally which daily use Platts' benchmarks to price billions of dollars' worth of contracts.

- The sources said prosecutors are focused on traders' behavior and gave no indication of suspected wrongdoing by Platts. In response to a request for comment by Reuters, Platts said it conducts reviews to ensure the integrity of its price assessments. Platts publishes data and correspondence used to determine a price assessment and provides this data to regulators when requested, said Dave Ernsberger, global head of pricing and market insight for S&P Global Platts.
"We've spoken with U.S. and global authorities across a whole range of markets for many years," Ernsberger said.
He declined to comment on any potential probes.
A spokesperson for the Justice Department declined to comment.

- Over the past decade, authorities globally have levied multibillion-dollar fines and pursued criminal charges against banks and traders for banding together to rig global benchmarks, most notoriously the London Interbank Offered Rate. While U.S. criminal authorities pursued cases against energy traders in the 2000s related to benchmark-rigging, in the years that followed commodities market manipulation was largely the domain of civil agencies including the Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission. Since 2019, however, the Justice Department, working with the CFTC, has ramped up scrutiny of the commodities market via a specialist unit within its Washington-based fraud division. That unit has developed sophisticated data analytics tools to more quickly detect misconduct, Reuters reported last year.
- While the unit initially focused on commodities futures spoofing, a type of futures market manipulation, it now has the tools and expertise to dig into other areas of the market, including industry benchmarks operated by price reporting agencies, said one of the sources. The agency has also investigated some of the world's largest energy trading companies for bribery, including Dutch trading giant Vitol.

- That and another recent case identified misconduct in relation to Platts' benchmarks.

- When settling bribery charges with the Justice Department in December last year, Vitol also settled related charges brought by the CFTC. As part of that settlement, Vitol paid a civil penalty to the CFTC to resolve charges of attempted manipulation of two Platts physical oil benchmarks. Vitol said at the time it was committed to upholding the law and had cooperated "extensively" throughout the investigation. The company neither admitted nor denied the CFTC's allegations.
- In March, a former oil trader for Glencore Plc pleaded guilty to Justice Department charges that he conspired to manipulate the Platts benchmark for a type of oil.
- The Justice Department alleged that from September 2012 to August 2016 Emilio Jose Heredia Collado directed colleagues to place buy or sell orders during a Platts trading settlement window key to assessing the fuel oil price, court documents show. Heredia successfully swayed benchmark prices in order to benefit himself and his employers, the Justice Department alleged. He is cooperating with an ongoing U.S. investigation, authorities have said in court filings as recently as August. His attorney did not respond to requests for comment. Glencore declined to comment.
"In both these cases, the regulators did not accuse Platts of wrongdoing or provide any evidence that attempts to manipulate our assessments were successful or that our assessments did not reflect market value," Platts said in a statement.

Other commodities traders are under Justice Department scrutiny. Energy trader Gunvor Group has said it is being probed by U.S. authorities for corruption in Ecuador after a former employee pleaded guilty to bribery charges in April.

Oct 04 - OPEC meets on output increase as oil prices rally

OPEC and its allies meet on Monday to debate how much oil to release into the red hot market, where supply disruptions and recovering demand from the coronavirus pandemic have pushed oil above $80 per barrel. The oil price rally to a three-year high is exacerbated by an even bigger increase in gas prices, which have spiked 300% and have come to trade close to an equivalent of $200 per barrel due to supply shortages and low production of other fuels.

Oct 04 - 'Catastrophic' California oil spill kills fish, damages wetlands

A large oil spill off the southern California coast left fish dead, birds mired in petroleum and wetlands contaminated, prompting local officials to call it an environmental catastrophe. The U.S. Coast Guard, heading a clean-up response involving federal, state and city agencies, said on Sunday there was an around-the-clock investigation into how the spill occurred.

Oct 01  - North American oil, gas drillers see more investor interest; pipelines out of favor
The North American oil and gas exploration and production sector is gaining more investment dollars at the expense of pipeline operators as drillers substantially improve free cash flow and debt reduction, according to industry experts.

Oct 01  - Crude climbs as market looks to OPEC+ meeting, dollar slide extends
Crude futures pushed higher Oct. 1 as the market looked toward an Oct. 4 OPEC+ group meeting and the dollar extended its slide.

Oct 01  - Crude stable as market awaits fresh pricing cues, OPEC+ meet
0606 GMT: Crude oil futures were stable to slightly higher in mid-afternoon trade in Asia Oct. 1 as investors waited for fresh market cues to emerge ahead of the OPEC+ meeting Oct. 4.

Oct 01  - Crude treads water as market looks to OPEC+ meeting
Crude oil futures were holding around even midmorning Oct. 1 as the market looked to an Oct. 4 OPEC+ meeting for next direction.

Oct 01  - Lundin announces first oil from Solveig field, adding to Edvard Grieg lifespan
Norway-focused Lundin Energy has announced first oil from its Solveig field, which the company expects will provide a significant boost to the longevity of its flagship Edvard Grieg hub in the North Sea.

Oct 01  - STB maintains voting trust approval for Canadian Pacific-Kansas City Southern deal
US regulators said they will maintain the previous approval of a critical voting trust for Canadian Pacific Railway's $27.2 billion acquisition of Kansas City Southern in the biggest North American railroad merger in more than two decades.

Oct 01 - OPEC+ considers options for releasing more oil to the market - sources

OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said, at a time when oil prices are near a three-year high and consumers are pressing for more supply. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, meets on Monday to review output policy. 

Oct 01 - U.S. oil output rises in July – EIA

U.S. crude oil production increased by 31,000 barrels per day in July to 11.307 million bpd, up from a revised 11.276 million bpd in June, the U.S. Energy Information Administration said in a monthly report. Crude output was lifted by production gains in Texas and in the Gulf of Mexico. Offshore production in the Gulf of Mexico rose 56,000 bpd in July, the report said.

Sep 30  - Brazil August refined products output falls 1.8% on year
Brazil's refined products output fell 1.8% year on year in August as a decline in diesel production offset higher gasoline and fuel oil output, the National Petroleum Agency, or ANP, said Sept. 30.

Sep 30  - US oil, gas rig count jumps 9 to 640 on week; Eagle Ford shows biggest change
The US oil and gas rig count rose by nine to 640 in the week ending Sept. 29, Enverus said, with the biggest change in the Eagle Ford Shale of South Texas.

Sep 30  - Libya's deputy oil minister to stay, despite tendering resignation, as ministry seeks stability
Libyan oil minister Mohamed Oun has rejected the resignation of his deputy, Refaat al-Abbar, as the government seeks to heal the rift between rival factions vying to control the country and its critical energy sector.

Sep 30  - Crude retreats on stronger dollar, US stock build
Continued strength in the US dollar continued to weigh on crude oil prices in European midday trading Sept. 30, while bearish US stock data failed to provide support.

Sep 30  - UK's oil product demand recovers to 16% below pre-COVID levels in August

The UK's demand for oil products rose to within 16% of pre-COVID-19 levels in August as activity levels in Europe's second-biggest economy continued to recover, according to official data submitted to the Joint Organizations Data Initiative (JODI).

Sep 30  - Crude slides on EIA data while investors eye OPEC+ meeting

0612 GMT: Crude oil futures fell during midafternoon trade in Asia Sept. 30 as the sentiment remained bearish on an unexpected build in US crude inventories and a stronger dollar while the market looked to the upcoming OPEC+ meeting for more pricing cues.

Sep 30  - UK fuel crisis fails to ease further despite optimism over end to panic buying
The number of UK fuel stations out of fuel due to delivery shortages and panic buying remained over a quarter on Sept. 30, despite previous optimism that road fuel demand was returning to normal levels.

Sep 30  - Crude lacks direction amid weaker dollar, reports of rising Chinese energy purchases
Crude futures settled mixed Sept. 30 on the back of a weaker dollar and reports that China is looking to ramp up energy purchases ahead of winter.

Sep 30 - OPEC+ seen sticking to November output plans, despite $80 oil, sources say

OPEC+ is likely to stick to an existing deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 a barrel and pressure from consumers for more supply. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, agreed in July to increase production by 400,000 bpd each month to phase out 5.8 million bpd in cuts. It also agreed to assess the deal in December.

Sep 30 - UK diverts scarce fuel to petrol stations, not large firms -Telegraph

Fuel is being diverted from large firms in the UK to pumping stations, a move that could eventually disrupt online deliveries, The Telegraph reported on Wednesday. UK government officials have instructed executives running Britain's network of fuel terminals to send tankers heading for large companies to garages and service stations instead, the newspaper said, citing industry sources. The newspaper also reported that the government said it did not order any fuel deliveries to be diverted.

Sep 29  - RBOB pushes higher on smaller-than-expected US gasoline inventory build
NYMEX RBOB futures and gasoline cracks moved higher Sept. 29 as rising demand blunted a seasonal US gasoline inventory build.

Sep 29  - Renewable Energy Group to shut Houston biodiesel plant: company
Renewable Energy Group will close its 35 million gal/year biodiesel plant located in Seabrook, Texas, due, in part, to its inability to process multiple feedstocks, the company said in a Sept. 29 statement.

Sep 29  - Japanese refiner ENEOS raises wholesale product prices by Yen 1,500/kl: sources
ENEOS, Japan's largest refiner, raised domestic wholesale base prices for its five major rack oil products by Yen 1,500/kiloliter ($2.14/b), marking a second consecutive increase, market sources said Sept. 29.

Sep 29  - Crude dips as bearish US data halts rally
0620 GMT: Crude oil futures moved lower during midafternoon trade in Asia Sept. 29 on a surprise increase in US crude inventories and a stronger dollar, halting a rally after Brent breached the $80/b mark Sept. 28.

Sep 29  - UK fuel supply crises eases further as military drivers prepare to restock pumps
The number of UK fuel stations hit by delivery shortages and panic buying fell to less than a third on Sept. 29 as the government said the military was preparing to start driving supply tankers to the pumps in the coming days.

Sep 29  - US upstream activity slows in Q3 on limited capital, rising costs: Dallas Fed survey
US oil and gas activity grew at a slower pace in the third quarter as producers continued to face limited access to capital and significant cost pressures, according to industry executives surveyed by the Federal Reserve Bank of Dallas in September.

Sep 29  - China's energy intensity caps poorly timed amid ongoing fuel shortages
China's latest measures to cap energy consumption have been widely blamed for causing the current power crisis, but the curbs more likely ignited a tinderbox of issues accumulating for months around soaring fuel prices and coal shortages, highlighting the difficulties in implementing energy policy in the context of a huge economy with numerous moving parts.

Sep 29  - RBOB rallies as demand bump limits US gasoline stock build
NYMEX RBOB futures pushed higher midmorning Sept. 29 following a smaller-than-expected build in US gasoline stocks.

Sep 29 - U.S. has reached out to China about cutting oil imports from Iran, officials say

The United States has reached out to China diplomatically about reducing its purchases of Iranian crude oil, U.S. and European officials said on Tuesday, as Washington seeks to persuade Tehran to resume talks about reviving the 2015 nuclear deal. Purchases of Iranian oil by Chinese companies are believed to have helped keep Iran's economy afloat despite U.S. sanctions that are designed to choke off such sales to put pressure on Iran to curb its nuclear program.

Sep 29 - Barclays raises 2022 oil price view on likely supply deficit

Barclays on Tuesday raised its 2022 oil price forecasts reasoning that a continued recovery in demand could widen a 'persistent' supply shortfall. The bank raised its 2022 Brent crude price forecast by $9 to $77 per barrel driven in part by "reduced confidence" for a revival of the U.S.-Iran nuclear deal.

Sep 28  - Brazil's ANP approves reduced royalties for small, medium producers
Brazil's National Petroleum Agency has reduced royalty rates for small- and medium-sized producers and simplified rules for producing fuels and other refined products in a series of new resolutions aimed at making Latin America's largest economy more attractive to investors.

Sep 28  - Crude rally pauses amid profit-taking, stronger dollar; energy squeeze backstops market
Oil futures settled lower Sept. 28 as a downturn in the US equities prompted traders to book profits following an overnight rally.

Sep 28  - Crude rally extends as market eyes bullish fundamentals, European energy squeeze
Crude futures pushed to fresh highs with Brent threatening $80/b on the back of bullish fundamentals and record natural gas prices.

Sep 28  - UK fuel supply crisis easing as service stations restock: fuel retailers
The number of UK fuel stations without fuel due to delivery shortages and panic buying has fallen to about 37%, the UK's Petrol Retailers Association (PRA) said Sept. 28, down from around two-thirds of sites at the weekend.

Sep 28  - OPEC long-term forecast sees global oil demand plateauing in 15-25 years
Accelerated momentum behind energy transition will have oil demand plateauing in about 15-25 years, OPEC said Sept. 28, revising down its forecast of how much liquid fuels the world will need in the long term.

Sep 28  - TotalEnergies trims spending plans, sticks with key energy transition targets
TotalEnergies trimmed the upper end of its near-term capital spending plans on Sept. 28 but said it remains on track to grow its LNG and renewables business to become a major low-carbon energy company.

Sep 28  - Crude rally fizzles on profit-taking, stronger US dollar

Oil futures turned lower midmorning Sept. 28 as a downturn in US equities prompted traders to book profits following an overnight rally.

Sep 28  - Long-awaited Shenandoah start may spark more deepwater, high-pressure oil from US Gulf
It will be 15 years between discovery and first oil at the recently sanctioned Shenandoah field when production starts in 2024. The wait may not only be worth it to new operator Beacon Offshore Energy, but if successful may open the prospect for future development of deepwater, high-pressure fields in the US Gulf.

Sep 28  - BP flows first oil, gas from US Gulf of Mexico's Thunder Horse phase 2 project
BP has flowed first oil and gas from startup of the deepwater Thunder Horse South Expansion Phase 2 project in the US Gulf of Mexico, which should increase output from one of that region's largest fields by 25,000 boe/d gross at peak, the company said Sept. 28.

Sep 28  - Brent pushes past $80/b as supply crunch continues
0700 GMT: Crude oil futures continued to rally to multiyear highs during mid-afternoon trade in Asia Sept. 28, with the ICE November Brent Futures contract breaching the $80/b mark for the first time since late 2018 as supply issues persist ahead of the rise in seasonal demand.

Sep 28 - APPEC-Lack of investment, more demand to drive oil price volatility - industry execs

A lack of investment in new oil and gas supplies, amid a shift in focus to cleaner fuels, is likely to drive price volatility in the next decade as demand for traditional energy sources grows, senior industry executives said. Global energy investment saw its biggest fall on record in 2020 when the COVID-19 pandemic hammered demand, while a push for energy transition to meet greener targets pulled more funds into renewable resources. 

Sep 28 - Petrobras eyes Brazil price hikes despite political pressure

Brazil's state-run oil company, Petrobras, is considering raising fuel prices as the prices of some petroleum derivatives are out of line with the global market, Logistics and Sales Director Sales Claudio Mastella said on Monday. Two people close to the company told Reuters that Petrobras Chief Executive Joaquim Silva e Luna was in Brasilia on Sunday to discuss with government officials how to cushion the blow of rising prices, including possible government subsidies.

Sep 27  - Japan set for cold weather Dec-Feb, supporting gas, power, oil demand
The winter weather forecast for Japan, released Sept. 24 by the Japan Meteorological Agency, showed that most regions are forecast to experience either a 30-year-average, or below average, temperatures over December-February, in a sign that the country's winter gas, power and oil demand are likely to be supported during peak demand months.

Sep 27  - ADNOC raising over $1.1 billion from drilling unit IPO; to list on local exchange Oct 3
Abu Dhabi National Oil Co. has completed the book-building process for the initial public offering of its drilling unit, raising more than $1.1 billion in the company's second flotation of a subsidiary.

Sep 27  - South Sudan's oil exports resume after protesters disrupt pipeline flows
South Sudan's crude exports resumed on Sept. 27 after a deal was reached with the protesters who had caused disruptions last week, the South Sudanese information minister Michael Makuei Lueth said.

Sep 27  - Crude prices continue to surge on tight supply, growing demand

0600 GMT: Crude oil futures moved higher during mid-afternoon trade in Asia Sept. 27 as the market braces for a Northern Hemisphere winter supply crunch amid recovering global demand.

Sep 27  - Medium heavy sweet crude cash differentials seen robust on month: traders
Market participants in the Asia Pacific sweet crude markets saw cash differentials across grades in the medium heavy complex maintaining their upbeat momentum amid rising product cracks on the month, traders told S&P Global Platts Sept. 27.

Sep 27  - UK's Stanlow refinery owner Essar says confident on recovery, tax discussion
The owner of the UK's 205,000 b/d Stanlow refinery, Essar, expects to agree a "short extension" with tax authorities on value added tax payment arrears, while it remains "confident in its future," with liquidity and the business environment improving, it said Sept. 27.

Sep 27  - Brent approaches $80/b mark on potential gas-fuel switching, tightened supply
Crude oil futures were trading higher during the afternoon trading in Europe Sept. 27, as tightening supply and record natural gas prices push Brent towards $80/b

Sep 27  - USGC medium sour crude differentials soften as production, imports rise after Hurricane Ida
US Gulf Coast medium sour crude differentials to Cushing WTI have softened over the past two weeks, as supply of competitive grades has increased, compensating for the continued loss of Shell's Mars corridor production following Hurricane Ida's disruptions that began in late August.

Sep 27  - UK sees fuel demand returning to normal in 'days' after panic buying drains pumps
The UK government said Sept. 27 it expects demand for road fuels to return to normal levels within days as refiners and fuel retailers struggled to restock Britain's fuel stations, most of which were emptied by panic buying over a lack of of drivers to resupply all pumps.

Sep 27  - Medium, heavy sour crudes still under pressure in Sep even as Middle East light grades recover
Medium and heavy sour crude oil from Bahrain and Iraq are still under pressure in September due to weak demand, even as lighter crude grades from the Middle East staged a late-cycle recovery, market sources said Sept. 27.

Sep 27 - BP says nearly a third of its UK fuel stations running on empty

BP said nearly a third of its British petrol stations had run out of the two main grades of fuel on Sunday as panic buying forced the government to suspend competition laws and allow firms to work together to ease shortages. Lines of vehicles formed at petrol stations for a third day running as motorists waited, some for hours, to fill up with fuel after oil firms reported a lack of drivers was causing transport problems from refineries to forecourts.

Sep 27 - APPEC-Global oil demand seen reaching pre-pandemic levels by early 2022

Global fuel demand is expected to reach pre-pandemic levels by early next year as the economy shrugs off pandemic woes, but spare refining capacity is likely to weigh on outlook, oil producers and traders said on Monday. While a persistent rise in COVID-19 infections in several markets has hurt recovery in demand for some refined products such as jet fuel, consumption trends of petrol and diesel indicate higher growth, the industry leaders said.

Sep 24 - U.S. oil refiners pick Iraqi, Canadian crudes to replace storm losses - traders

U.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have been pursuing Middle Eastern and Russian grades, analysts and traders said. Royal Dutch Shell, the largest producer in the U.S. Gulf of Mexico, this week said damage from Hurricane Ida to an offshore transfer facility will limit Mars sour crude supplies into early next year.

Sep 24 - PetroChina, Hengli win four cargoes in first China oil reserve sale

State major PetroChina and private refiner Hengli Petrochemical on Friday won four cargoes totalling about 4.43 million barrels, or 60% of the total oil offered in China's first state reserves auction, industry sources said. Completed in less than an hour, PetroChina's Dalian refinery took one cargo each of Qatar Marine and U.K. Forties crude at $65 a barrel, said several sources with direct knowledge of the matter.

Sep 23 - Brent tests three-year high on tighter supply outlooks, weaker US dollar
Crude oil futures settled higher Sept. 23 amid tailwinds from tightened supply outlooks, a weaker US dollar and a broader cross-asset market rally.

Sep 23 - High spot LNG prices set to support Asian LSFO in winter

"North Asia, such as Japan, South Korea and Taiwan, will start increasing LSFO consumption for winter," a refining source in Asia said.

Sep 23 - European fuel oil exports to Asia rise on stronger demand, high LNG prices
Commodity data company Kpler estimates that 479,000 mt of European fuel oil will arrive in Asia in the week ended Sept. 26, up from the 450,000 mt that arrived the previous week, and the largest amount since 737,000 mt in the week ended Aug. 30.

Sep 23 - Japanese Oil products output rises 2.5% on week to 17.41 mil barrels Sep 12-18
Japan's oil products output rose 2.5% week on week to 17.41 million barrels between Sept. 12-18, data from the Petroleum Association of Japan showed Sept. 23.

Sep 23 - ARA diesel, gasoil stocks fall 5.7% on week to 1.972 mil mt:
Insights Global
Diesel and gasoil inventories in the Amsterdam-Rotterdam-Antwerp trading hub fell 5.7% on the week to 1.972 million mt as of Sept. 22, Insights Global data showed Sept. 23.

Sep 23 - Mexico tightens grip on private fuels importers as Pemex attempts to lure back clients
Mexico is tightening its grip on private refined products fuel importers as the state oil company Pemex tries to lure back customers to boost its market share, according to sources.

Sep 23 - Soaring gas prices an opportunity for renewable hydrogen: Nel CEO
Solar PV module prices have fallen by around 90% since the end of 2009, while wind turbine prices have fallen by 55-60% since 2010, according to IRENA. S&P Global Platts Analytics forecasts a modest reversal in this trend this year, however, due to rising raw material costs.

Sep 23 - Maersk invests in DAC technology to boost methanol use as sustainable bunker fuel
The US startup is developing tools to filter atmospheric CO2 for use in the production of net zero methanol, gasoline, diesel and jet fuel, according to company statements. The fuels will cost the same as their hydrocarbon-based equivalents, according to Prometheus Fuels' website.

Sep 23 - Iraq oil minister says OPEC and allies working to keep crude price near $70

Iraq's oil minister said OPEC and its allies are working to keep crude prices close to $70 per barrel as the global economy recovers, state news agency INA reported on Wednesday. The minister Ihsan Abdul-Jabbar added the ministry "hopes to maintain oil price at more than $65 per barrel."

Sep 23 - Exxon, Chevron conceal payments to some governments - watchdog

U.S. oil majors Exxon Mobil Corp and Chevron Corp have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly disclose taxes and other payments they have made to governments in the countries where they operate that are not EITI members, the group said in a spreadsheet detailing member company adherence to its standards.

Sep 22 - Crude pushes higher as lingering US Gulf shut-ins weigh on supply
Crude futures pushed higher Sept. 22 amid tightened global supply outlooks.

Sep 22 - Record gas prices having a 'material effect' on refining margins: Grangemouth chairman
Record high natural gas prices in the UK are having a "material effect" on refining and petrochemical margins at Ineos' Grangemouth complex in Scotland, the site's chairman said Sept. 22.

Sep 22 - Gas-to-oil switching could prompt OPEC+ reaction: BP economist
The OPEC+ alliance could be forced to react to the current spike in gas prices if it means a colder-than-average winter forces meaningful volumes of oil into the power generation sector, BP energy economist Jorge Leon said Sept. 22.

Sep 22 - US crude exports tick up on week, flows to Asia slow
A fresh report from the US Energy Information Administration showed weekly US crude exports ticked up slightly over the week ended Sept. 17, but flows to Asia continued to slide, with the four-week moving average sinking to an over two-and-a-half year low, according to data from Kpler, a data intelligence firm.

Sep 22 - India August refinery run rate lowest in 2021
The average run rate for all categories of refineries in India fell to 87% in August, compared with 91% in the previous month, the oil ministry's latest survey showed Sept. 22, reflecting the lowest run rate of 2021.

Sep 22 - EIA says total US ULSD stocks draw to 17-week low
Ultra low sulfur diesel stocks for all of the US drew for the fourth consecutive week, dropping to reach a 17-week low, US Energy Information Administration data showed Sept. 22.

Sep 22 - West African gasoil at 28-month low amid FX crisis, high flat price
The West African gasoil market has fallen to a 28-month low, weighed on by a currency crisis -- a shortage of dollars -- in Nigeria and the recent rise in flat prices, leading to supply building offshore.

Sep 22 - Russia August fuel oil exports rise 19.4% on year to 3.044 mil mt
Exports were significantly higher year on year due to a global increase in demand for oil products.

Sep 22 - Crude oil prices rise on falling inventories, supply constraints
Data from the API released late Sept. 21 showed a 6.1 million barrels drawdown in US crude oil inventories in the week to Sept. 17, considerably more than analyst expectations of a 2.4 million-barrels decline in inventory.

Sep 22 - Australia July motor, jet fuel imports fall on COVID-19 demand woes
Australia's gasoline imports fell to 3.17 million barrels in July, down 35.7% month on month, latest data from the Department of Industry, Science, Energy and Resources showed.

Sep 22 - OPEC+ struggles to pump more oil to meet rising demand

OPEC and its allies struggled again to pump enough oil in August to meet global demand as it recovers from the coronavirus pandemic, potentially adding to upward pressures on oil prices. Several OPEC+ members such as Nigeria, Angola and Kazakhstan have struggled in recent months to raise output due to years of under-investment or large maintenance work that has been delayed by the COVID-19 pandemic.

Sep 22 - ConocoPhillips bets $23 bln on U.S. shale oil as rivals retreat

ConocoPhillips Chief Executive Ryan Lance on Monday doubled down on U.S. shale and the world's continued demand for oil with his second blockbuster acquisition in less than a year. His $9.5 billion purchase of Royal Dutch Shell's West Texas properties, nine months after closing a $13.3 billion deal for Concho Resources, puts the company's future squarely in shale after exiting Canada's oil sands, U.S. offshore and British North Sea fields.

Sep 21 - Crude closes higher on weaker dollar; market eyes near-term growth risks
Crude oil futures finished higher in a volatile session as a weaker dollar and rising costs for alternative fuels backstopped markets despite near-term growth risks.

Sep 21 - GASTECH 2021: Bullish prices for suppliers could temper long-term LNG demand
"I think current prices, if they continue, they will be a burden on many countries and we will not see the demand side on the long-term be ready to take such prices," UAE energy minister Suhail al-Mazrouei told reporters on the sidelines of the conference.

Sep 21 - UAE energy minister sees oil market 'in a very good position' from OPEC+ management
" We will always keep the market balanced, so if we are required to pump more to keep the market balanced, we will do so, but that is something we will study with all the countries," he told S&P Global Platts on the sidelines of the Gastech 2021 conference in Dubai.

Sep 21 - Chinese Refineries maintain high oil product yield despite throughput falls
The high oil product yield was a result of three factors, intensive competition in chemical market, independent refineries' effort to report production properly and to make up the reduction in oil product supplies from blending pool, refining sources said.

Sep 21 - Crude prices edge higher on robust prompt oil demand, constricted US Gulf output
While concerns over the outlook for oil demand and demand for refined products into the start of autumn have exerted downward pressure on oil prices recently, prompt demand remains robust as travel restrictions are eased in Europe and the US.

Sep 21 - Shell exits Permian with $9.5 bln Texas shale sale to ConocoPhillips

Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition. For ConocoPhillips, it is the second sizable acquisition in a year in the heart of the U.S. shale industry, as American and European producers diverge in whether to focus on hydrocarbons going forward.

Sep 21 - U.S. hurricane damage to cut Shell oil output through year-end

Royal Dutch Shell, the largest U.S. Gulf of Mexico oil producer, said damage to offshore transfer facilities from Hurricane Ida will cut production into early next year, slashing deliveries of a type of crude oil prized by refiners. Shell was the hardest-hit producer from Ida, which tore through the U.S. Gulf of Mexico last month and removed 28 million barrels from the market. The ongoing disruptions have hampered exports and raised crude prices, as Asian buyers searched for substitutes for the popular Gulf Mars grade.

Sep 20 - NYMEX WTI falls to test $70/b threshold on stronger US dollar
Crude oil prices fell Sept. 20, with front-month NYMEX WTI briefly testing the $70/b threshold, as stock market woes combined with a stronger US dollar, recovering US supplies and Chinese economic concerns to weigh on commodities.

Sep 20 - Singapore Q4-Q1 gasoil time spread soars to more than 20-month high on supply tightness
The Singapore Q4-Q1 10ppm sulfur gasoil derivative time spread hit more than a 20-month high at the close of Asia trade Sept. 17, supported by tighter regional supply balances and expectations of an improvement in the demand outlook.

Sep 20 - China Aug oil product exports drop 22% on month, hit 13-month low at 2 mil mt

The country's total exports of the three products between January and August dipped 1.5% year on year to 31.13 million mt, according to customs data.

Sep 20 - Rising gas price threatens UK retail energy market
The risk of defaults in the UK energy retail market have soared on the back of rising wholesale gas and power prices. The following is a breakdown of the major issues being tracked by S&P Global Platts.

Sep 20 - Russia January-August throughput at seaports rises 1.6% on year
- OPEC+ cuts weigh on crude exports
- Rises from coal, containers, sugar

Sep 20 - Crude oil prices fall as Gulf production rises, demand uncertainty looms
Supply woes seem to be easing as Baker Hughes reported the US oil and gas rig count, a gauge of future output, at 512 Sept. 17, adding nine rigs in the past week and taking the total to the highest since April 2020.

Sep 20 - Goldman sees oil over $85/b if cold winter triggers more gas-to-oil switching
- Almost 1 mil b/d oil demand boost likely given a chilly winter
- Fuel oil, LPG in Asia and Europe most exposed to switching
- Platts Analytics sees up to 320,000 b/d of additional demand

Sep 20 - Ultra low sulfur heating oil markets jump while RVO continues to diminish
Ultra low sulfur heating oil markets soared to multi-month highs Sept. 20, strengthening considerably with the largest gain seen on the Atlantic Coast, while the Renewable Volume Obligation sank.

Sep 20 - Russia August refining throughput rises 9.2% on year to 24.686 mil mt
Russian refineries processed 24.686 million mt (about 5.8 million b/d) of crude in August, up 9.2% year on year and 5% higher from July, according to energy ministry data released Sept. 20.

Sep 20 - US West Coast refinery margins fall as inventories reach seasonal highs
US West Coast refinery margins fell on rising gasoline and distillate inventories despite a drop off in production but refinery outages following an earthquake could impact the Los Angeles market, an analysis from S&P Global Platts showed on Sept. 20.

Sep 20 - Vietnam Aug gasoil imports fall to 17-month low as COVID-19 lockdowns stifle demand
Vietnam's gasoil imports tumbled to a 17-month low in August amid subdued demand for the fuel as the Southeast Asian nation struggled to combat a rising number of COVID-19 infections by implementing some of its strictest lockdown measures seen to date.

Sep 20 - US crude inventories expected to keep falling as refineries come back online
US crude inventories likely continued falling for the week ended Sept. 17 as COVID-19 pandemic oversupplies kept unwinding and more refineries came back online in the aftermath of Hurricane Ida, analysts surveyed by S&P Global Platts said Sept. 20.

Sep 20 - Shell's Pernis Refinery to launch biofuel plant in 2024
The plan was announced in July but, at the time, there was no final investment decision.

Sep 20 - Saudi retains top spot in oil supplies to China with volumes up 53% y/y

Saudi Arabia, the world's biggest oil exporter, kept its ranking as China's top crude supplier for a ninth straight month in August as major producers relaxed production cuts. Saudi oil arrivals surged 53% from a year earlier to 8.06 million tonnes, or 1.96 million barrels per day (bpd), data from the General Administration of Customs showed on Monday.

Sep 20 - China's Aug diesel exports fall to lowest since May 2015

China's diesel exports continued to fall in August, hitting their lowest since May 2015 after the government slashed fuel export quotas in an effort to limit production expansion and reduce emissions from the petroleum industry. Diesel shipments were 540,000 tonnes last month, down from 1.39 million tonnes in July and lower than a year earlier, data from the General Administration of Customs showed on Saturday.

Sep 17 - Freeport LNG sets initial steps to resume service after hurricane struck Texas
Outage reduced availability of US supplies of power plant, home heating fuel to global markets.

Sep 17 - Crude prices slide as dollar tests 1-month high, US gulf output returns

Oil futures came under pressure amid a continued rally in the dollar.

Sep 17 - China's oil consumption seen peaking around 2026, Sinopec exec says

China's oil consumption is likely to peak around 2026 at about 16 million barrels per day and that of natural gas by around 2040, according to a top executive of Sinopec Corp. Sinopec's oil peak forecast echoes a prediction by consultancy Rystad Energy in April that cited rapid adoption of electric vehicles as the main cause for global oil demand to peak over the next five years. 

Sep 17 - Russian ESPO oil prices at 21-mth high, boosted by strong China demand

China's rebounding crude demand has pushed up prices of a Russian grade popular with Chinese independent refiners to the highest in 21 months, several trade sources said. Russia's Surgutneftegaz sold three cargoes of ESPO crude loading in November at premiums between $4.40 and $4.70 a barrel to Dubai quotes late on Thursday, they said.

Sep 16 - China tests oil clout, battles inflation with first oil reserve auction

China's first crude oil reserve auction could have an outsized impact on market sentiment, signalling the top oil importer remains committed to reining in inflation by controlling commodity prices, analysts and trading executives said. The initial sale from its strategic petroleum reserves (SPR) will be small - 7.38 million barrels, or about a half-day's usage in China - barely registering in a global market that consumes nearly 100 million barrels every day.

Sep 16 - U.S. crude, fuel stockpiles fall in wake of Hurricane Ida - EIA

U.S. crude oil and fuel stockpiles dropped sharply last week, as refiners in the U.S. Gulf region and oil facilities offshore were still recovering from Hurricane Ida's hit late August, the Energy Information Administration said on Wednesday. Crude inventories fell by 6.4 million barrels in the week to Sept. 10 to 417.4 million barrels, compared with expectations in a Reuters poll for a 3.5 million-barrel drop.

Sep 15 - Crude settles higher on tighter US crude stocks, improved demand outlooks
Draw largely result of lingering US Gulf of Mexico production outages following Hurricane Ida.

Sep 15 - Canadian Pacific Railway, Kansas City Southern reach $27.2 billion deal after long bidding war

Sep 15 - Some oil-fired units in Japan might be restarted amid rising LNG, coal prices: PAJ chief
Japan may see some restarts of oil-fired power generation units this winter, amid soaring LNG and coal prices, Petroleum Association of Japan President Tsutomu Sugimori said Sept. 15, as refiners carry out contingency planning in response to the tightened power supply and demand balance over the past season.

Sep 15 - Colonial Pipeline restoring full operations after Hurricane Nicholas
Colonial Pipeline said it resumed refinery products flows on Line 2 early on Sept. 15, restoring the major fuel artery to normal operations in the aftermath of Hurricane Nicholas' South Texas landfall.

Sep 15 - Brazil's refined product sales to climb 3.3% to 136.2 mil liters in 2021: EPE
Brazilian fuel distributors' sales of refined products in 2021 are expected to increase 3.3% year on year to 136.2 million liters, as Latin America's largest economy bounces back from coronavirus, the state-owned Energy Research Office, or EPE, said in a report Sept. 15.

Sep 15 - Japan refiners expect winter crude procurement to be similar to last year

Japanese refiners expect a similar level of crude oil procurement this winter as last, and have started adjusting imports to be able to stockpile kerosene for heating demand, Petroleum Association of Japan President Tsutomu Sugimori said Sept. 15.

Sep 15 - China August crude throughput falls to 15-month low at 13.8 million b/d
China's crude throughput fell 2.2% on the year to 13.8 million b/d, or 58.35 million mt, in August amid high product stocks -- a 15-month low -- data from the National Bureau of Statistics showed Sept. 15.

Sep 15 - NWE 50 ppm gasoil value at five-week low on lack of demand
The Northwest European 50 ppm gasoil barge market has fallen to a five-week low in the absence of demand for heating oil and with buyers having little incentive to build stocks at current flat prices, sources said.

Sep 15 - China's daily oil refinery output hits 15-month low in August

China's crude oil throughput continued to fall in August, with daily runs hitting the lowest since May 2020, as a resurgence in coronavirus cases and a drastic cut in fuel export quotas hurt production at refineries. Processing volumes in August were 58.35 million tonnes, or 13.74 million barrels per day (bpd), down 2.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Wednesday. That was also less than the 13.91 million bpd in July, which was a 14-month low.

Sep 15 - Vaccines set to unleash pent-up oil demand -IEA

After a three-month slide in global oil demand due to the spread of the Delta variant of COVID-19 and pandemic restrictions especially in Asia, vaccine roll-outs are set to power a rebound, the International Energy Agency (IEA) said on Tuesday. "Already signs are emerging of COVID cases abating with demand now expected to rebound by a sharp 1.6 million barrels per day (bpd) in October, and continuing to grow until end-year," the Paris-based IEA wrote in its monthly oil report.

Sep 14 - NYMEX RBOB stronger after Hurricane Nicholas knocks out Colonial Pipeline
Price impact of the pipeline outage was limited likely due to expectations that the system would return to full operation soon.

Sep 14 - UAE Brooge starts 600,000 cu m fuel oil, crude storage facility at Fujairah

BPGIC is working on a third expansion of its storage facilities that could potentially add up to 3.5 million cu m of capacity.

Sep 14 - Vietnam to start LNG imports in 2022 as key step in lowering emissions, energy security: minister
Under the draft decree, companies and plants with annual GHG emissions above 3,000 mt of CO2e will be required to submit records of their emissions.

Sep 14 - US LNG feedgas demand suggests near full utilization as Nicholas drenches Texas

Neither operator announced immediate plans to curtail output, though both were monitoring the storm.

Sep 14 - OPEC expects Delta variant to delay oil demand growth

OPEC on Monday trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant, saying a further recovery would be delayed until next year when consumption will exceed pre-pandemic rates. The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report it expects oil demand to average 99.70 million barrels per day (bpd) in the fourth quarter of 2021, down 110,000 bpd from last month's forecast.

Sep 14 - U.S. Gulf Coast energy firms face another hurricane hit

Evacuations were underway on Monday from offshore U.S. Gulf of Mexico oil platforms as onshore oil refiners began preparing for rain and heavy winds from a second hurricane in as many weeks. Hurricane Nicholas was taking aim at the central Texas coast with 75 miles per hour (120 kph) winds, threatening to bring heavy rain to Texas and parts of Louisiana still recovering from Hurricane Ida.

Sep 13 - Oil climbs on strengthened demand outlooks, lingering Ida disruptions
OPEC more bullish on global economic recovery, projecting world oil demand to exceed pre-pandemic levels in 2022.

Sep 13 - Traders chase Russian oil to fill U.S. supply gap after Hurricane Ida

Trading houses are rushing to supply Russian Urals crude to the United States where oil production was hammered by Hurricane Ida in August, three trading sources said on Friday. Ida, one of the most devastating hurricanes for oil companies operating in the U.S. Gulf of Mexico since storms in 2005, led to prolonged halts in the area's offshore oil output. About two-thirds of U.S. offshore production remains shut nearly two weeks after the hurricane made landfall.

Sep 13 - Saudi Aramco to provide full contract volumes of crude in October - sources

Saudi Aramco has notified at least five north Asian buyers that it will supply full contractual volumes of crude oil in October, sources with knowledge of the matter said on Monday. The full allocation comes as the Organization of the Petroleum Exporting Countries and their allies including Russia agreed to ease supply cuts by 400,000 barrels per day each month between August and December.

Sep 10 - Global mobility spurts to hit new post-pandemic high as oil demand recovers
Oil demand markers in most of the world biggest consuming countries rose sharply in the first week of September, according to mobility data, taking implied global activity levels to within 10% of pre-COVID levels for the first time.

Sep 10 - ARA fuel oil stocks down 4.5% on week at 1.131 mil mt: Insights Global
Insights Global does not differentiate per fuel type. Fuel oil stocks in the region represented 20.5% of total refined oil products stocks in the region, which is lower than last week's percentage share at 22.6%.

Sep 10 - ARA diesel, gasoil stocks rise 9% on week to 2.244 mil mt: Insights Global
Long Range 2 tanker Chaselka was one such arrival in the week to Sept. 9, bringing around 102,000 mt of gasoil from Yanbu, Saudi Arabia, to Antwerp, Belgium, according to commodity information provider Kpler.

Sep 10 - U.S. offshore oil production losses felt around the globe

Two weeks of losses in U.S. offshore energy production spiraled on Thursday, with prolonged outages from Hurricane Ida leading to oil contract cancellations around the globe. Three-quarters of U.S. Gulf of Mexico oil production remained offline, according to government data, as repair efforts dragged on. 

Sep 10 - China to auction off state oil reserves to help refiners

China's state reserves administration said on Thursday it would release crude oil reserves to the market via public auction to ease the pressure of high feedstock costs on domestic refiners. The release, described as a first, will be made in phases and is mainly for integrated refining and chemical plants, the National Food and Strategic Reserves Administration said in a statement.

Sep 09 - Three-quarters of U.S. Gulf of Mexico oil output remains shut

More than three-quarters of the U.S. Gulf of Mexico's offshore oil and natural gas output remained shut on Wednesday as the fallout from Hurricane Ida continued to hamper production. Some 1.4 million barrels per day (bpd) of crude production and over 1.72 billion cubic feet per day of natural gas output were shut-in. 

Sep 09 - Biden administration mulls reversal of Trump Arctic drilling plan

The Biden administration may reverse a Trump-era policy that opened vast swaths of federal land in Arctic Alaska to oil development, according to documents filed in U.S. District Court in Anchorage. The U.S. Interior Department is examining whether it should rescind a Trump-era management plan for the National Petroleum Reserve in Alaska (NPR-A), an Indiana-sized land unit holding both oil and important ecological values.

Sep 08  - U.S. oil losses from Hurricane Ida rank among worst in 16 years

Hurricane Ida's damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records. Ida's 150 mile-per-hour (240 kph) winds cut most offshore oil and gas production for more than a week and damaged platforms and onshore support facilities. 

Sep 08 - Asia eyes Australia blueprint as $100 bln oil, gas clean-up looms

Australia has passed legislation that could set a precedent for who pays to clean up the fossil fuel industry in Asia, making former owners of oil and gas fields responsible for the costs of dismantling facilities if later owners fail. The new law provides a blueprint for governments tussling with the oil and gas industry over the removal of hundreds of obsolete energy facilities, particularly as the world moves to a lower-carbon economy.

Sep 07 - Libya's eastern terminals face growing protests amid NOC-ministry row
- Demonstrations at Es Sider and Marsa el-Hariga threaten to impact exports
- Dispute between Oun and Sanalla dispute escalates

Sep 07 - Unprecedented rally in Med gasoline cargoes on prompt tightness, robust demand
- Record Med gasoline cargo premiums versus swaps
- Very high prompt gasoline demand meets tight supply side

Sep 07 - China August crude oil imports rise as refiners resume buying

China's daily crude oil imports rose 8% in August from a month earlier, customs data showed on Tuesday, as refiners resumed purchases following the issue of new import quotas. China, the world's top crude oil buyer, brought in 44.53 million tonnes of oil last month, equivalent to 10.49 million barrels per day (bpd), according to data from the General Administration of Customs.

Sep 07 - U.S. probing nearly 350 reports of oil spills in wake of Hurricane Ida

The U.S. Coast Guard said on Monday it was investigating nearly 350 reports of oil spills in and along the U.S. Gulf of Mexico in the wake of Hurricane Ida. Ida's 150 mile-per-hour (240 kph) winds wreaked havoc on offshore oil production platforms and onshore oil and gas processing plants.

Sep 06 - U.S. offshore oil output lags as Louisiana refiners restart after Ida

Damage to oil production facilities in the U.S. Gulf of Mexico kept output largely halted on Sunday, a week after Hurricane Ida made landfall, according to offshore regulator the Bureau of Safety and Environmental Enforcement (BSEE). Energy companies have been coping with damaged platforms and onshore power outages and logistical issues, slowing efforts to restart production. 

Sep 06 - Saudi Arabia slashes crude prices to Asia; US, Europe prices steady

Saudi Arabia, the world's top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United States steady. The deep price cuts come as lockdowns across Asia to combat the highly infectious delta variant of the coronavirus have capped fuel demand in the region.

Sep 03 - IRAQ Total crude exports rise, as federal gains more than offset Kurdistan drop
Iraq appeared to take advantage of its higher OPEC+ production quota in August, increasing its crude exports by 3%, or 106,000 b/d, in the month.

Sep 03 - White House warns of increased hacking around holidays, offers mitigation steps
The White House is warning critical infrastructure operators and others to be vigilant of ransomware and other cyber threats going into the Labor Day holiday weekend.

Sep 03 - DUBAI Nov EFS inches wider as US hurricane outages set to slow cargo flow to Asia
The front-month Brent/Dubai Exchange of Futures for Swaps widened slightly in mid-morning trade in Asia Sept. 3 amid expectations that outages in the US due to Hurricane Ida would temporarily slow down the current flow of US crude arbitrage barrels into Asia.

Sep 03 - Dutch company to clear Demerara River in Guyana to boost oil vessel flows
Netherlands-based industrial and maritime service company Koole Contractors Sept. 3 signed a $3.7 million contract with the Guyana government to remove three shipwrecks from a river channel to make way for an upsurge in traffic by vessels supporting oil exploration drillships.

Sep 03 - Crude prices retreat as US jobs miss fuels near-term demand concerns
Crude futures settled lower on Sept. 3, after an overnight rally fizzled in the face of a weaker-than-expected US employment report.

Sep 03 - Sweden partners with Gold Standard on high-quality emissions reduction credits
The Swedish Energy Agency has partnered with environmental standards group Gold Standard to buy high-quality greenhouse gas emissions reduction credits to meet the country's national climate target under the Paris Agreement, Gold Standard said Aug. 25.

Sep 03 - Angolan crude diffs bounce off 15-month lows as demand for Oct picks up
Angolan crude differentials have started to recover from the 15-month lows reached at the end of August, breaking a downward trend prevailing since July as October-loading barrels find renewed demand from around the world, according to trading sources.

Sep 03 - Crude rally fizzles following weak US payrolls report
An overnight oil price rally fizzled in early New York trading Sept. 3, with prices falling into negative territory following a weaker-than-expected US jobs report.

Sep 03 - Surveillance aircraft sent to possible oil spill reported in wake of Ida

The U.S. Environmental Protection Agency said on Thursday it has dispatched a surveillance aircraft to an area in Louisiana hard hit by Hurricane Ida that includes a refinery where an apparent oil spill has been reported. The aircraft dispatched from Texas will gather data on the Phillips 66 refinery and other priority sites, an EPA spokesman told Reuters.

Sep 03 - Asian gasoil markets perk up as Europe enters peak demand season

Asia's gasoil market is showing signs of life, despite lacklustre regional demand in the wake of widespread coronavirus outbreaks, as Europe sucks up cargoes to restock heating oil in the peak demand period ahead of winter. Steady arbitrage flows to Europe have boosted cash differentials for the benchmark 10 ppm gasoil grade in Singapore to their biggest premiums since July last year on Thursday, while gasoil refining profit margins are at their strongest since April 2020.

Sep 02 - BP says 'no obvious major' damage seen at US Gulf of Mexico platforms
BP said Sept. 2 that flyovers across the US Gulf of Mexico have indicated "no obvious major damage" from Hurricane Ida to its four large producing platforms.

Sep 02 - Russian Sep domestic crude pipeline prices fall Rb1,000/mt on weaker Brent
Spot prices of Russian crude oil for domestic loading and delivery by pipeline in September were more than Rb1,000/mt ($13.60/mt) lower month on month, mostly on the back of a weaker Brent market.

Sep 02 - EPA wants to revisit 2018 RFS exemptions but revocation of waivers seen unlikely
The Environmental Protection Agency has asked the DC Circuit Court of Appeals for the opportunity to further review a batch of Trump-era decisions exempting certain oil refineries from biofuel blending mandates rather than continue to defend the prior administration's actions in court.

Sep 02 - Crude climbs on weaker dollar, bullish US unemployment report, Hurricane Ida disruptions
Crude oil futures settled higher Sept. 2, propelled by a weaker dollar a bullish US unemployment report, and extended disruptions from Hurricane Ida.

Sep 02 - Russia, India ready to expand bilateral energy cooperation
Russian and Indian companies have been pushing for greater cooperation in the oil and gas sector beyond the $32 billion invested in joint projects, the countries' energy ministers said on Sept. 2.

Sep 02 - OPEC+ sticks to gradual oil output hikes, ups demand forecast

OPEC and its allies on Wednesday agreed to stick to their existing policy of gradual oil output increases, despite revising its 2022 demand outlook upwards and ongoing U.S. pressure to raise production more quickly. The Organization of the Petroleum Exporting Countries and allies led by Russia agreed in July to phase out record output cuts by adding 400,000 barrels per day (bpd) of oil a month. 

Sep 02 - U.S. energy firms strain to shake off hurricane's toll

U.S. oil and gas companies strained to get offshore operations back up and running on Thursday as the extent of Hurricane Ida's damages became more apparent. Ida's 150-mile-per-hour (240 kph) winds delivered a direct hit to the nation's energy infrastructure.

Sep 01 - Russia seeks greater energy cooperation with Asia amid crude demand uncertainty
Russian and Asian investors are meeting in Vladivostok this week, amid uncertainty over crude demand levels after the spread of the Delta variant of the coronavirus combined with recent adverse weather conditions to hit differentials for Russian crude shipped via the Far East.

Sep 01 - Air cargo demand remains firm on strong economic growth in July: IATA
Global air freight markets posted another month of strong growth in July, bolstered by a strong economic growth trend, the International Air Transport Association said in a report released late Aug. 31.

Sep 01 - US crude stock draws extended on exports, pre-hurricane Gulf Coast refinery demand
US crude oil inventory draws extended in the week ended Aug. 27, Energy Information Administration data showed Sept. 1, amid rising exports and strengthened US Gulf Coast refinery demand ahead of the impact of Hurricane Ida.

Sep 01 - Crude lacks direction amid US crude draw, rising OPEC+ output
Crude futures settled mixed Sept. 1 as the market weighed a larger-than-expected US crude draw against rising OPEC+ output.

Sep 01 - Iraq gears up for higher Basrah Medium sales with revamp at Basrah terminal: SOMO
Iraq expects exports of Basrah Medium to rise over the remainder of this year, with operations at the Basrah terminal being reconfigured to dedicate more capacity to the recently created crude grade, the State Oil Marketing Organization's deputy director general, Ali al-Shatari, said Sept. 1.

Sep 01 - US Gulf Coast oil production, refining operations curtailed following Ida
Roughly 75% of Louisiana refining capacity and 94% of offshore US Gulf of Mexico oil production remained offline Aug. 31 as a result of Hurricane Ida. Now a tropical depression, Ida caused widespread power outages after making landfall Aug. 29 as a Category 4 storm.

Sep 01 - US Gulf Coast oil producers, refiners restarting operations following Ida
Offshore Gulf of Mexico oil and gas producers, and onshore Louisiana refiners, were in the process of returning operations Sept. 1 following the passing of Hurricane Ida.

Sep 01 - US crude exports climb on week, freight rates higher post Ida
US crude exports increased to over 3 million b/d for the week-ended Aug. 27, according to the US Energy Information Administration Sept. 1.

Sep 01 - Floods, outages stall energy firms' restart efforts after Ida

Widespread flooding, power outages and debris-strewn roads slowed recovery efforts by energy companies on Tuesday after Hurricane Ida ripped into oil production facilities, ports and refineries. More than 1 million customers in Louisiana were without electricity. 

Sep 01 - OPEC+ sees tighter oil market until May 2022

OPEC+ expects the oil market to be in deficit at least until the end of 2021 and stocks to stay relatively low until May 2022, OPEC+ sources said on Tuesday, a day ahead of a policy meeting amid U.S. pressure to raise production. The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, collectively known as OPEC+, meet on Wednesday at 1500 GMT to set policy.

Aug 31 - Nigeria's oil industry at risk as security threats increase
A new wave of security threats in Nigeria poses a major challenge to Africa's largest oil producer and a key supplier of light sweet crude grades to Europe, industry officials and analysts have warned.

Aug 31 - Tropical Storm Ida cuts US Gulf Coast oil production, refining operations
Roughly 75% of Louisiana refining capacity and nearly 95% of offshore US Gulf of Mexico oil production remained offline Aug. 30 as a result of Tropical Storm Ida, which caused widespread power outages after making landfall as a major Category 4 hurricane the prior day.

Aug 31 - US STB rejects voting trust for Canadian National acquisition of Kansas City Southern, possibly killing deal

US regulators Aug. 31 rejected a critical voting trust for Canadian National's pending $30 billion acquisition of Kansas City Southern, potentially killing a massive rail deal that would have created the only end-to-end rail network from the Canadian oil sands into Mexico.

Aug 31 - NYMEX RBOB leads complex lower as Colonial Pipeline returns
Crude and refined products futures edged lower Aug. 31 as Louisiana offshore and onshore recovery efforts were underway following the passing of Hurricane Ida, and ahead of an OPEC+ meeting set to start Sept. 1.

Aug 31 - Japan's ENEOS likely to raise weekly wholesale oil product prices by Yen 3,000/kl: sources
ENEOS, Japan's largest refiner, is expected to raise its domestic wholesale base prices for five major oil products by Yen 3,000/kiloliter ($4.34/b) week on week in response to the stronger crude oil market, sources said Aug. 31.

Aug 31 - Ida's track spares US Gulf Coast LNG facilities mindful of Laura's 2020 disruptions
A year after Hurricane Laura shut down US liquefaction facilities in southwest Louisiana, knocking out power to Sempra's Cameron LNG for more than a month, the terminals were able to keep operating through a similar intensity Ida.

Aug 31 - South Korea July crude imports fall 9.7% on year to 78.03 million barrels
South Korea's crude imports fell in July as local refiners aimed to limit middle distillate output during the semi-lockdown phase, while high crude inventory may also encourage the companies to minimize feedstock purchases in the near term, Seoul-based industry sources and market analysts told S&P Global Platts.

Aug 31 - Gulf Coast refined products jump following Hurricane Ida; Atlantic Coast markets follow
Refined product markets on the US Gulf Coast jumped to begin the week, following Hurricane Ida which made landfall on the Louisiana coast on Aug. 29.

Aug 31 - Ida's fury hits U.S. oil production, gasoline supplies

Energy companies on Monday were beginning a days-long evaluation of facilities hit by Hurricane Ida as widespread power outages and flooding onshore presented major hurdles to restarting oil and gas processing plants. Hurricane Ida knocked out at least 94% of the offshore Gulf of Mexico oil and gas production and caused "catastrophic" damage to Louisiana's grid. 

Aug 31 - FTC to crack down on gasoline price manipulation, 'unlawful' U.S. oil industry mergers

The Federal Trade Commission will crack down on practices that may harm consumers at the gasoline pump and seek to deter "unlawful" mergers in the oil and gas industry, FTC Chair Lina Khan told the White House in a letter last week. The letter, obtained by Reuters, was addressed to White House economic adviser Brian Deese and promised to start an investigation of abuses in the "franchise market" for retail fuel stations, among other steps.

Aug 30 - Asia crude oil: Key market indicators for Aug 30-Sep 3
Crude oil futures ticked higher in mid-morning Asia trade Aug. 30, even as spot trading activity is expected to mellow in the week of Aug. 30-Sept. 3 as the market shifts its focus to the trading of November-loading cargoes, while traders eye the upcoming OPEC+ meeting for fresh supply cues.

Aug 30 - Crude, refined products climb as market eyes storm-battered USGC infrastructure
Crude and refined product futures settled higher Aug. 30 as the market assessed the impacts of Hurricane Ida on US Gulf Coast energy infrastructure.

Aug 30 - India July fuel oil exports rise 50% as low sulfur fuel oil sales increase
Fuel oil exports in July increased 50% month on month to 299,000 mt, according to the latest data released by India's Petroleum Planning and Analysis Cell, amid a rise in sales from refiners who skipped sales in June.

Aug 30 - RBOB rally extends amid Colonial Pipeline outage
NYMEX RBOB futures moved higher Aug. 30 as the closure of the Colonial Pipeline ahead of Hurricane Ida threatened to stress already tight gasoline supply.

Aug 30 - 'Extremely dangerous' Hurricane Ida knocks out more oil than Katrina

U.S. oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation's oil production. Production cutbacks ahead of Hurricane Ida exceed those during 2005's devastating Katrina 

Aug 30 - Oil firms cut 96% of U.S. Gulf of Mexico crude output as Hurricane Ida slams coast

Energy firms on Sunday had suspended 1.74 million barrels per day of oil production in the U.S. Gulf of Mexico, according to the Bureau of Safety and Environmental Enforcement (BSEE), as Hurricane Ida slammed into the Louisiana coast as a Category 4 storm. Ida made landfall on Sunday near Port Fourchon, the land base for the Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States.

Aug 27 - Producers shut in oil, gas output as Hurricane Ida moves toward US Gulf Coast
Upstream producers widely began shutting in oil and gas production from the US Gulf of Mexico Aug. 27 following preliminary evacuations of nonessential crews a day earlier as Hurricane Ida advanced toward the Gulf Coast - a major refining and processing center.

Aug 27 - ICE low sulfur gasoil prompt spread flips to backwardation on robust demand
The prompt spread in ICE low sulfur gasoil futures flipped to a 25 cents/mt backwardation Aug. 27 - a six-month high - from a 50 cents/mt contango the previous day, with robust demand reported in the Northwest European ultra low sulfur diesel market.

Aug 27 - Brazilian Biodiesel production in July falls year-on-year on lower blending

- Mandate remains at 10% vs. 13%
- Biofuel blend in place until August

Aug 27 - Crude rises on supply worries as hurricane season begins in Gulf of Mexico
Crude bulls have seized on the Chinese government's latest measures to contain the spread of the coronavirus delta variant.

Aug 27 - Japan's JERA to switch 30% LNG use to hydrogen at a gas-fired plant in FY 2025-26

During the pilot project to March 2026 from October, JERA will switch a part of its LNG use to hydrogen.

Aug 27 - Japan scaling up liquefied hydrogen supply chain with government funding
"We plan to demonstrate receiving liquefied hydrogen from abroad in the late 2020s," ENEOS' Maeda said.

Aug 27 - U.S. offshore oil workers flee as storm approaches Gulf of Mexico

U.S. energy companies on Thursday began airlifting workers from Gulf of Mexico oil platforms and moved vessels ahead of a powerful hurricane forecast for the weekend. Tropical Storm Ida was swirling in the Caribbean Sea and forecast to march through the main oil-producing region of the Gulf on Friday.

Aug 27 - U.S. EPA recommends lowering 2020 biofuel mandates retroactively - sources

The U.S. Environmental Protection Agency has recommended retroactively lowering biofuel blending mandates for 2020, two sources familiar with the matter said, after the agency on Thursday sent a proposal on the mandates to the White House for review. The move could provide immediate relief to oil refiners that have to comply with the blending requirements.

Aug 27 - Crude rally fizzles as market consolidates ahead of key US Federal Reserve meeting
Crude oil futures settled lower Aug. 26 as traders booked profits ahead of the US Federal Reserve's Jackson Hole Symposium.

Aug 27 - Mexico liquefaction project boosters urged to seize moment amid Platts JKM bull run
A fourfold jump in spot Asian LNG prices over 12 months has created a window for developers of new liquefaction projects on Mexico's Pacific Coast to build commercial support.

Aug 27 - Crude retreats on profit taking, stronger US dollar
- US Federal Reserve symposium begins
- US Dollar snaps 3-day down streak
- Tropical Depression Nine takes aim at US Gulf

Aug 27 - Norway's Frontline posts loss in Q2 amid weaker tanker market
CEO Lars H. Barstad said the tanker markets remained challenging throughout Q2 2021, even though most energy related commodities and shipping markets saw demand and prices strengthen.

Aug 27 - Greece's Hellenic reports 103% utilization in Q2
Hellenic reported record exports of 2.7 million mt in the quarter, accounting for 67% of all sales.

Aug 27 - Crude falls despite bullish EIA report; traders focused on macro weakness
"Markets have been incredibly synchronized lately across asset classes -- equities, credit and commodities have all moved together. It's hard to say whether today's price fall is oil-driven or macro-driven," said Bjarne Schieldrop, chief commodities analyst at SEB.

Aug 27 - Chinese July fuel oil exports jump 51% on year on healthy bonded bunkering demand
- July fuel oil imports surge 122% on year to 1.37 million mt
- January-July fuel oil exports soar 50% on year to 11.7 million mt

Aug 27 - Iran confirms oil minister Owji with industry background seen a plus
Owji was approved 198 to 70, with 18 abstentions, Parliament speaker Mohammad-Bagher Ghalibaf announced in a televised address.

Aug 27 - China's July LCO imports fall to record low after start of consumption tax

From June 12 onwards, LCO imports were subjected to a Yuan 1,800/mt ($37.31/b) consumption tax, before the 13% value added tax.

Aug 26 - Phillips 66 refinery sale offers test of future for motor fuel suppliers

U.S. refiner Phillips 66's decision to market a Louisiana oil processing plant offers a key test of investors' views on the pace of the transition to electric vehicles, refinery industry experts said on Wednesday. Phillips 66, the fourth largest U.S. refiner, on Tuesday said it has put its 255,600-barrel-per-day (bpd) Alliance plant on the market, citing "the evolving energy landscape." 

Aug 26 - Venezuela sees refinery debt swap as model for future deals

Venezuela's socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks to mend ties with creditors, four people familiar with the operation said. Such debt-for-equity swaps are common in corporate bankruptcy proceedings and have been employed by other Latin American countries emerging from default in the past.

Aug 25 - Brazil's Enauta restarts output at offshore Atlanta Field after repairs: company
Brazilian independent oil and natural gas producer Enauta completed repairs to oil heaters at the offshore Atlanta Field, restarting output from the field's three production wells and returning to full operations, the company said Aug. 25.

Aug 25 - RBOB surges over 5% after larger-than-expected US gasoline draw
NYMEX RBOB futures settled at a ten-day high Aug. 25 on the back of a larger-than-expected US gasoline inventory draw.

Aug 25 - Crude prices recover from bearish API report, look to strengthening demand
The API reported a weekly US crude inventory drawdown of 1.6 million barrels and gasoline stock decline of 985,000 barrels. Both undershot analysts' expectations.

Aug 25 - Refinery runs increase in some parts of Asia-Pacific region
The average run for all categories of refineries in India rose to 91% in July compared with 90% in the previous month, the latest survey of the oil ministry showed Aug. 24, reflecting the highest run in three months.

Aug 25 - Phillips 66 puts Alliance, Louisiana refinery up for sale

The fourth-largest U.S. refiner Phillips 66 on Tuesday said it has put the smaller of its two Louisiana refineries up for sale amid continued losses and an uncertain future for motor fuels. The company is holding talks with a potential buyer on the sale of its 255,600 barrel-per-day (bpd) Alliance refinery in Belle Chasse, Louisiana, according to two people familiar with the matter. 

Aug 25 - U.S. to restart oil leasing with offshore auction this year

The Biden administration said on Tuesday it would take steps to restart the federal oil and gas leasing program in the next week and plans to hold a Gulf of Mexico auction as soon as October, court papers showed. The move comes two months after the U.S Interior Department first said it would comply with a June 15 federal judge's order blocking its months-long pause in oil and gas leasing on federal lands and waters.

Aug 24 - Iran resumes fuel exports to neighbouring Afghanistan

Iran resumed fuel exports to Afghanistan a few days ago following a request from the new Afghan government, which feels empowered by the U.S. withdrawal to buy the sanctioned nation's oil more openly, an Iranian official told Reuters. The Sunni Muslim group seized power in Afghanistan last week as the United States and its allies withdrew troops after a 20-year war.

Aug 24 - U.S. report finds multiple problems with Keystone pipeline

A U.S. government watchdog found multiple problems with the construction, manufacture and design of the Keystone pipeline, validating President Joe Biden's decision to revoke the permit for a Keystone XL extension, leaders of several House Democratic committees said on Monday. The lawmakers requested the Government Accountability Office report in November 2019 after more than 11,000 barrels of oil leaked from the pipeline system in two releases in less than two years.

Aug 23 - ICE LSGO futures net speculative length down 3,861 contracts on week
Speculative net long positions in ICE low sulfur gasoil futures were down 3,861 contracts to 93,146 in the week to Aug. 17, according to ICE data released late on Aug. 20.

Aug 23 - Crude surges 5% on weaker dollar, easing COVID-19 concerns
Crude oil futures settled sharply higher Aug. 23 amid signs of progress against the COVID-19 delta variant surge and a weaker US dollar.

Aug 23 - Global oil demand to peak by 2025 under UN pathway: Platts Analytics
Global crude and condensate demand would peak in four years and slump by 40% over the next three decades if the world moves to a path outlined by the UN's Intergovernmental Panel on Climate Change, or IPCC, where global warming is limited to 1.5 C or 2 C degrees, according to S&P Global Analytics.

Aug 23 - Ukraine to build crude storage at Black Sea port
The first phase of the project calls for building a reservoir with a capacity of 120,000 mt, while the overall project will consist of four reservoirs that will hold 480,000 mt of oil.

Aug 23 - Crude climbs on bargain hunting, upbeat demand outlook
"Risk assets appear to have caught a strong bid this morning after last week's hammering and that's lifting crude, too," Hari said.

Aug 23 - Russia July fuel oil exports rise 29% on year to 3.152 mil mt
Russian fuel oil exports rose 29% year on year to 3.152 million mt in July, according to data released Aug. 23 by the Central Dispatching Unit of the Russian Energy Ministry.

Aug 23 - EPA to urge U.S. biofuel blending mandates below 2020 levels, sources say

The U.S. Environmental Protection Agency is expected to recommend to the White House reducing federal biofuel blending mandates for 2021 to below 2020 levels in what would be a blow to the biofuels industry, two sources familiar with the matter said on Friday. The EPA also is expected to make a separate recommendation to boost the blending mandates for 2022 above the previous two years, according to the sources, who spoke on condition of anonymity. 

Aug 23 - Lebanon raises fuel prices by 66% as it tries to ease shortages

The Lebanese government said on Sunday that it was raising gasoline prices by 66% in a partial reduction of fuel subsidies as it seeks to ease crippling shortages that have brought the country to a standstill. The increase in 95-octane gasoline prices would take effect immediately, the government said in a statement.

Aug 20 - Brazil's Enauta slashes Atlanta production outlook by 14.3% for 2021
Brazilian independent oil and natural gas producer Enauta slashed its production forecast for the offshore Atlanta Field by 14.3% for 2021 amid ongoing issues with oil pumps and heaters installed on the seabed, despite plans to restart output from three production wells in August, the company said Aug. 12.

Aug 20 - NYMEX WTI enters correction territory as delta surge threatens outlooks
Rising inventories and slowing demand have weighed on gasoline cracks.

Aug 20 - Emerging oil nations reject climate curbs on exploration, pursue rapid development

The world's newest oil-producing nations grabbed the spotlight at this week's Offshore Technology Conference with ambitious plans to tap oil and gas discoveries in a race against a global energy transition to lower-carbon fuels. At the conference highlighting renewable and cleaner-burning fuels and investors moving bets away from fossil fuels, Brazil, Ghana, Guyana, and Suriname laid out agendas to pump massive oil and gas discoveries that could reshape their economies - if they can get them to market before values erode. 

Aug 20 - Saudi Arabia remains China's top oil supplier, Malaysian supplies triple

Saudi Arabia remained China's top crude oil supplier for the ninth month in July but its crude arrivals fell 10% on the month, while Russian imports slipped by just 4%. Shipments from Saudi Arabia totalled 6.69 million tonnes in July, or 1.58 million bpd, compared with June's 1.75 million barrels per day, but was a quarter more than July last year, according to data from the General Administration of Customs in China.

Aug 19 - Crude slide extends for sixth day as market eyes hawkish Fed, demand concerns
Nationwide gasoline inventories unexpectedly climbed in the week ended Aug. 13.

Aug 19 - Brazil's Enauta slashes Atlanta production outlook by 14.3% for 2021
Brazilian independent oil and natural gas producer Enauta slashed its production forecast for the offshore Atlanta Field by 14.3% for 2021 amid ongoing issues with oil pumps and heaters installed on the seabed, despite plans to restart output from three production wells in August, the company said Aug. 12.

Aug 19 - Saudi Crude exports for second month in June as output cuts unwind

- Refined product exports highest since May 2020
- Kingdom unwinding extra output cuts

Aug 19 - Vietnam may need to export more crude, slash fuel imports as unwanted oil stocks pile up
Domestic fuel consumption has tumbled in recent months amid a resurgence in COVID-19 cases.

Aug 19 - U.S. regulator moving to restore federal oil and gas leasing program - official

A U.S. offshore regulator on Wednesday said efforts to resume a federal oil and gas leasing program are underway and would soon bear results following a court decision ending a suspension. The Biden administration this week challenged the court decision, arguing the program does not adequately consider climate impacts. But it will proceed with new leases as its appeal grinds through the courts.

Aug 19 - Most flares from Texas Permian oil drilling lack permits - study

Oil producers such as Exxon Mobil and Royal Dutch Shell are burning off gas in the largest oil field in the United States without required Texas state permits, the environmental group Earthworks said in a report on Thursday. Energy producers flare gas, an unwanted by-product of oil extraction, when they cannot transport the gas to consumers.

Aug 18 - Brazil's Enauta slashes Atlanta production outlook by 14.3% for 2021
Brazilian independent oil and natural gas producer Enauta slashed its production forecast for the offshore Atlanta Field by 14.3% for 2021 amid ongoing issues with oil pumps and heaters installed on the seabed, despite plans to restart output from three production wells in August, the company said Aug. 12.

Aug 18 - Crude price slide extends for fifth day after surprise US gasoline build
Concerns surrounding delta variant spread could limit near-term energy demand growth.

Aug 18 - Renewable fuel companies edge out some refiners on feedstock

Both renewable fuel processors and oil refiners are trying to profit off the growing market for sustainable aviation fuel and renewable diesel, but high prices for feedstocks like soybean oil has been more of a hazard for refiners, as their most recent earnings showed. These renewable fuel products are a fraction of overall sales of gasoline, diesel and other products, but it is growing.

Aug 18 - India starts selling oil from strategic reserves after policy shift

India has begun selling oil from its Strategic Petroleum Reserve (SPR) to state-run refiners as it implements a new policy to commercialise its federal storage by leasing out space, three sources familiar with the matter said. Reuters reported last month that India had changed its policy to allow the Indian Strategic Petroleum Reserves Ltd (ISPRL), which manages the federal oil inventories, to lease 30% of its overall 37 million barrels capacity to Indian and foreign companies. 

Aug 18 - BHP, Woodside investors jittery over $29 billion petroleum merger

Shares in BHP Group and Woodside Petroleum fell on Wednesday as investors on both sides raised questions about the value of the Perth-based oil and gas group's proposed $29 billion merger with BHP's petroleum arm. While a 6% fall in BHP's share price was linked to a decision to end its UK dual listing, where its shares have traditionally traded at a large discount, a fall of up to 4% in Woodside reflected concerns about the expansion, they said.

Aug 17 - Brazil's Enauta slashes Atlanta production outlook by 14.3% for 2021
Brazilian independent oil and natural gas producer Enauta slashed its production forecast for the offshore Atlanta Field by 14.3% for 2021 amid ongoing issues with oil pumps and heaters installed on the seabed, despite plans to restart output from three production wells in August, the company said Aug. 12.

Aug 17 - Crude sees longest down streak since March as delta spread weighs
Concerns continued rise in new cases could lead to travel restrictions in the US likely contributed to a weakening in gasoline cracks.

Aug 17 - Woodside, BHP merger to create global top 10 LNG company by production
The merger is expected to be completed in the second quarter of the 2022 calendar year with an effective date of July 1, 2021, it said.

Aug 17 - OPEC+ sees no need to meet U.S. call for more supply, sources say

OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters. The price of international benchmark Brent crude has risen 35% this year towards $70 a barrel, driven by economic recovery from the pandemic and supply restraint by the Organization of the Petroleum Exporting Countries and its partners in the alliance known as OPEC+.

Aug 17 - Biden administration appeals federal court decision to block oil, gas leasing pause

The Biden administration on Monday challenged a federal judge's decision in June to block the Interior Department's pause on oil and gas leasing on public lands and waters - a critical piece of its climate change policy - but will proceed with leasing during the appeals process. The Interior Department aims to overturn the decision of Judge Terry Doughty of the U.S. District Court for the Western District of Louisiana, who said Louisiana and a dozen states that sued President Joe Biden's administration established they would suffer injury from the pause on new oil and gas leases.

Aug 16 - BHP in talks to sell global oil, gas business to Australia's Woodside

BHP Group Ltd is in talks to sell its petroleum business to Australia's top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday. The world's biggest miner also said it had begun a strategic review of its oil and gas business — made up of assets in Australia, the Gulf of Mexico, Trinidad and Tobago, and Algeria - that analysts value at between $10 billion and $17 billion.

Aug 1 - China refinery output falls to lowest in 14 mths as teapots cut runs

China's daily crude throuhgput last month fell to the lowest since May 2020 as independent plants slashed production amid a tighter quotas, high inventories and weakening profits. Last month's processing volumes were 59.06 million tonnes, or 13.9 million barrels per day (bpd), 0.9% below the same month of 2020, data from the National Bureau of Statistics (NBS) showed on Monday.

Aug 13 - Spanish Refinery output drops 6% in H1
- Lowest H1 production on CORES records since 2012
- Import, export volumes lowest H1 in seven years

Aug 13 - Crude oil prices edge lower as demand outlook softens, delta-variant spreads

Any significant upside was blunted in the wake of the latest International Energy Agency report, which lowered oil demand growth expectations for the remainder of 2021.

Aug 13 - Japan's NYK says oil spill control operations underway after grounding of ship
- Crimson Polaris grounded off the coast of Hachinohe
- Cause of accident to be confirmed
- Extent of environmental pollution being assessed

Aug 13 - Rosneft Q2 liquids output slumps 3.6% on year despite improving conditions
Russia's largest crude producer, Rosneft, saw its liquids output in the second quarter drop 3.6% year on year to 47.89 million mt, or an average of 3.89 million b/d, according to operational results released Aug. 13.

Aug 13 - Singapore 10/500 ppm gasoil spread near 16-month high on rising medium sulfur supply
The FOB Singapore price spread between 10 ppm sulfur and 500 ppm sulfur gasoil widened to a near 16-month high at the Asian close Aug. 12, with ample supply and poor demand weighing on fundamentals for the higher sulfur distillate.

Aug 13 - Singapore Residue stocks edge up 0.6% to 22.57 mil barrels as fuel oil imports rise
Singapore's residue stocks inched up 0.57% week on week to 22.566 million barrels, or 3.56 million mt, Enterprise Singapore data for the week ended Aug. 11 showed, amid the simultaneous 13% increase in fuel oil imports and 13% decline in fuel oil exports.

Aug 13 - Singapore Gasoil, jet fuel stocks inch up as COVID-19 surge saps demand

Asia's main trading hub of Singapore saw middle distillate inventories extending gains for the second straight week along with the rapid spread of the delta variant across Asia denting demand and threatening to undo significant progress made previously, which had brought inventories down to precoronavirus levels.

Aug 13 - Conflict zones a challenge to Colombia's oil production goals
Catatumbo, Colombia is one of the most oil-rich regions in the country, with an estimated 17 million barrels of unexplored oil reserves.

Aug 13 - Exxon, Chevron look to make renewable fuels without costly refinery upgrades - sources

U.S. oil major Exxon Mobil Corp, along with Chevron Corp, is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said. The two largest U.S. oil companies want to produce sustainable fuels without ponying up billions of dollars that some refineries are spending to reconfigure operations to make such products. 

Aug 13 - Schlumberger withdraws from major oil conference amid rising COVID-19 cases

Top oilfield services firm Schlumberger NV on Thursday said it had withdrawn staff from next week's Offshore Technology Conference (OTC), which typically attracts at least 60,000 attendees to Houston, citing the area's rise in COVID-19 cases. The annual exhibition and technical exchange for offshore energy equipment and service companies historically ranks among the 10 largest trade shows by attendance, attracting exhibitors and energy professionals from around the world.

Aug 12 - Prices end slightly lower, but within well-worn range
Crude oil futures ended slightly lower Aug. 12, but remained within a well-worn range as traders continued to assess the demand concerns stemming from the rapid spread of the coronavirus delta variant.

Aug 12 - ARA diesel, gasoil stocks fall 1.2% on week: Insights Global
Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp, or ARA, hub fell by 1.2% week on week and declined 15.9% year on year to 2.092 million mt in the week to Aug. 12, according to Insights Global data.

Aug 12 - Malaysia's Petronas eyes third floating LNG vessel amid upstream uncertainties

Malaysia's national oil company Petronas has issued a front-end engineering and design tender for a third floating liquefied natural gas or FLNG plant, for which bids are due in August from interested parties, according to sources with direct knowledge of the matter.

Aug 12 - Russia January-July throughput at seaports rises 1.5% on year

- Liquids transshipment down 3.3% on year
- Crude throughput falls 6.1% on year

Aug 12 - Global mobility holds stable outside China as curbs hit oil demand outlook

- Chinese COVID-19 spike triggers demand cuts
- Aviation capacity slips 6.5% on the week

Aug 12 - Brazil's Enauta slashes Atlanta production outlook by 14.3% for 2021
Brazilian independent oil and natural gas producer Enauta slashed its production forecast for the offshore Atlanta Field by 14.3% for 2021 amid ongoing issues with oil pumps and heaters installed on the seabed, despite plans to restart output from three production wells in August, the company said Aug. 12.

Aug 12 - Global refinery runs recovery slows down on new COVID-19 waves: IEA
The recovery in global refinery runs slowed down in July "as new waves of COVID-19 cut into fuel demand while margins remained under pressure, the International Energy Agency said in its latest monthly report on Aug. 12.

Aug 12 - Coalition seeks regulatory action to get competitive freight rail pricing back on track
Energy interests and others with a vested interest in efficient and affordable freight rail service have asked the Surface Transportation Board to help rein in monopoly pricing and the climbing freight rail rates and rail industry revenues that they contend it has fostered.

Aug 12 - Devastated by war, Yemen's still surviving oil and gas sector needs peace to recover
Yemen's oil and gas industry could be at a crossroads after six years of brutal civil war, with the US attempting to broker a peace deal that will be critical to reviving the decimated sector.

Aug 12 - Poland's Lotos raises Q2 throughput 3.4% on year, sales down 4.3%
Polish refiner Grupa Lotos increased throughput in the second quarter by 3.4% on the year to 2.63 million mt despite a partial maintenance shutdown of the refinery that was completed in April, the company said Aug 12.

Aug 12 - U.S. calls on OPEC and its allies to pump more oil

U.S. President Joe Biden's administration on Wednesday urged OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to the global economic recovery. The request reflects the White House's willingness to engage major world oil producers for more supply to help industry and consumers, even as it seeks the mantle of global leadership in the fight against climate change and discourages drilling at home.

Aug 12 - Shell to pay $111 million over decades-old Nigerian oil spill

Oil major Shell will pay a Nigerian community 45.9 billion naira ($111.68 million) to settle a case over an oil spill that took place more than 50 years ago, a spokesman said on Wednesday. The company will pay the Ejama-Ebubu community in Nigeria's Ogoniland the "full and final settlement" to end the case over a spill that took place during the 1967-70 Biafran war.

Aug 11 - Crude settles higher despite modest US inventory draw, call for more OPEC+ output
A late session rally saw oil futures settle higher Aug. 11 despite a tepid US inventory report and calls from the White House for the OPEC+ group to raise output.

Aug 11 - TOTSA Total Oil Trading SA changes entity name to TOTSA TotalEnergies Trading SA
Platts will publish all relevant information from TOTSA TotalEnergies Trading SA accordingly.

Aug 11 - Goldman sticks to $80/b oil price forecast despite demand hit from new China wave
- Cuts oil demand forecast by 1 million b/d over China COVID-19 surge
- Supply-side constraints seen keeping oil market tight this year

Aug 11 - Crude prices stay lower following modest US inventory draw
- Commercial crude stocks fall 450,000 barrels
- White House calls for higher OPEC+ output

Aug 11 - Saudi Aramco allocates full term crude volumes to Asian buyers for September: sources
- Asian refiners said to cut nominations on OSP hike
- Spot market may see more demand from Asian refiners

Aug 11 - India July fuel oil consumption declines 10% on month, as exports rise
The decline in consumption comes amid a concurrent anticipated increase in fuel oil exports on the month.

Aug 11 - Ukraine to deploy 200,000 mt oil storage capacity via pipelines
Ukraine's state oil shipping company UkrTransNafta will deploy 200,000 mt of its idle oil pipelines and oil handling infrastructure as storage facilities for crude oil, Iryna Holod, UkrTransNafta spokesperson, said on Aug. 11.

Aug 11 - EIA says Gulf Coast ULSD stocks build for second straight week to over four-month high
Ultra low sulfur diesel stocks on the US Gulf Coast saw a build for the second consecutive week, rising 1.74 million barrels to 45.16 million barrels during the week ended Aug. 6, Energy Information Administration data showed Aug. 11.

Aug 11 - Oil spill near Russia's Novorossiisk scrutinized for greater damage to Black Sea
A recent oil spill in Black Sea near Russia's Novorossiisk was put under investigation by state authorities on Aug. 11 after satellite images showed damage from the leak may have been misreported.

Aug 11 - US crude inventory draws resume as refinery demand, exports climb
US crude oil inventory draws resumed in the week ended Aug. 6 amid an uptick in refinery demand and higher exports, US Energy Information Administration data showed Aug. 11.

Aug 11 - Argentina's YPF bets on importing premium fuels as no refinery expansions planned
YPF, the biggest oil refiner in Argentina, plans to continue importing higher-grade diesel and gasoline products to meet local demand, given that it is not planning any major expansions of its three refineries on uncertainty about future demand, CFO Alejandro Lew said Aug. 11.

Aug 11 - Argentina June use of oil refining capacity falls
Argentina's refinery utilization rate fell to 73.6% in June from 75.4% in May, a sign of how a second wave of coronavirus cases, high inflation and a sluggish economy have limited demand, the state statistics department Indec said Aug. 11.

Aug 11 - North American midstream sector remains full, but few want to buy
A slower and steadier trickle of midstream consolidation has continued since the upstream buying spree that began last fall, but energy executives and analysts warn there are still too many pipeline companies in a North American industry that is now producing less crude within an overbuilt infrastructure environment.

Aug 11 - China slashes fuel export quotas by 73% following new taxes

China has cut export quotas for refined fuels by 73% year-on-year for the second batch of quotas issued for 2021, as new taxes on imports of key blending fuels are set to boost sales of domestically refined fuels. Released months behind schedule, the quotas totalled 7.5 million tonnes, and were issued to six state-run companies and a private refiner, according to four people familiar with the matter. 

Aug 11 - Gambia says BP has agreed to pay $29.3 mln no-drill fee

The Gambian government said on Tuesday BP has agreed to settle a $29.3 million outstanding commitment to drill an exploration oil well in the West African country's offshore A1 block, which the company was awarded two years ago. BP broke its obligations by failing to drill a well before the initial exploration period expired on 29th July, government spokesperson Ebrima Sankareh said in a statement.

Aug 10 - Crude rallies over 2% as market shrugs off pandemic concerns
Crude oil futures moved higher Aug. 10 as the market looked past demand slowdowns in Asia amid signs of continued growth in the US and Europe.

Aug 10 - Malaysia June oil products output rises on demand, refining margins
- Melaka refinery pushes out 10 ppm sulfur gasoil cargoes
- Malaysia becomes biggest oil products supplier to Vietnam in H1

Aug 10 - ULSD exports from Russian Black Sea port of Novorossiisk to fall 6% in Aug
Lower exports come amid an unusually heavy refinery maintenance season in Russia which is expected to continue until the end of the quarter.

Aug 10 - Crude prices rise as buyers seek bargains, but demand concerns remain

Any upside in crude oil prices may also be limited as OPEC+ has started ramping up oil production, adding to already fragile market sentiment.

Aug 10 - China July crude imports fall 20% on year to 9.75 mil b/d
China's crude imports fell 19.6% year on year to 9.75 million b/d in July, General Administration of Customs preliminary data released Aug. 7 showed.

Aug 10 - Asia middle distillates: Key market indicators for Aug 10-13

Asian middle distillate markets started the Aug. 10-13 trading week on a steady-to-firm note, with dented East-West arbitrage economics and rising COVID-19 infections pushing gasoil market participants to the sidelines.

Aug 10 - Libya's NOC says oil pipeline leak to lower Gallo oil field output by 70,000 b/d
Oil production at Libya's Gallo field will drop by as much as 70,000 b/d after an oil pipeline leak that occurred late Aug. 9, the state-owned National Oil Corp. said Aug. 10, as the OPEC member's poor energy infrastructure continues to hamper its production plans.

Aug 10 - Mediterranean, Black Sea sweet crude exports fall 145,385 b/d on month in July: Kpler
Exports of Mediterranean and Black Sea sweet basket crude -- which includes, Azeri Light, CPC Blend, Siberian Light, Es Sider and Saharan Blend -- averaged 2.5 million b/d in July, down 145,385 b/d from June, showed data from commodity data company Kpler on Aug. 10.

Aug 10 - India July oil products demand up 7.9% on year to 4.3 million b/d
India's demand for oil products in July rose 7.9% year on year to 16.8 million mt, or 4.3 million b/d, Petroleum Planning and Analysis Cell provisional data showed Aug. 10, as domestic demand for the majority of oil products has shown improvement after the second wave of coronavirus pandemic.

Aug 10 - Saudi Aramco scouting for more deals to offer to investors

Saudi Aramco is scouting for other potential deals to offer to investors and unlock capital, Chief Executive Amin Nasser said on Monday after the oil giant in June closed a $12.4 billion deal for its crude pipeline network. "We are looking at the potential for other deals that we are currently in negotiation (about)," Nasser said on a call with analysts.

Aug 10 - India's July fuel demand recovers to 3-month peak

Fuel demand in India rose in July to its highest since April as pandemic restrictions and lockdowns were unwound in most states, boosting industrial activity and mobility. Fuel consumption, a proxy for oil demand, totalled 16.83 million tonnes, up 2.9% from June and 7.9% from the same period a year ago, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

Aug 09 - Crude slides as delta spread weighs on demand outlooks
Crude oil futures settled lower Aug. 9 as global demand outlooks saw pressure from the continued spread of the COVID-19 delta variant.

Aug 09 - Russia H1 oil product exports down 2.7% on year
- Gasoline exports down 25%, diesel 11% lower
- Gasoline exports fall on talks of potential ban.

Aug 09 - Crude oil prices tumble amid demand concerns, rising Asian coronavirus cases
According to preliminary data released Aug. 7 by the General Administration of Customs, Chinese crude oil imports in July fell 0.6% on the month to 9.75 million b/d.

Aug 09 - China allocates second batch of oil product export quotas at 7.5 mil mt: sources
3 million mt of export quotas also have been allocated to low sulfur fuel oil.

Aug 09 - EMEA Middle Distillates: Key market indicators for Aug. 9-13
Some of the supply tightness was seen easing in the Mediterranean as the impact of July refineries' hiccups subside, while in Northwest Europe demand for barges of middle distillates was lackluster at best, and the focus for cargoes remain on arbitrage volumes and refinery margins in the week of Aug. 9.

Aug 09 - US targets Belarus oil trader, energy sector in latest sanctions
The Biden administration Aug. 9 tightened sanctions against Belarus with new restrictions on the country's energy and construction sectors on the anniversary of Alexander Lukashenko's disputed election.

Aug 09 - East of Suez ULSD shipments to Europe at 1.01 mil mt in Aug so far: cFlow
Around 1.01 million mt of East of Suez ULSD is set to arrive in Europe in August so far, according to S&P Global Platts trade flow software cFlow and shipping fixtures.

Aug 09 - South Africa's Sapref fully back online since end-July
Refinery: Sapref, Durban Owner: Shell SA Refining, BP Southern Africa Overall capacity: 175,200 b/d.

Aug 09 - Saudi Aramco to boost capacity by 550,000 b/d by 2025 amid plans to hit 13 million b/d
- Berri, Marjan fields to contribute to 2025 increment
- Working on boosting maximum sustainable capacity to 13 mil b/d

Aug 09 - Saudi Aramco's Q2 hydrocarbon output falls 8%; profit surges almost 4 times
- Hydrocarbon output drops to 11.7 mil boe/d
- Q2 capex up by 20% to $7.5 bil.

Aug 09 - China's crude oil imports rebound as state refiners return from overhauls

China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes. China brought in 41.24 million tonnes of crude oil last month, equivalent to 9.71 million barrels per day (bpd), data from the General Administration of Customs showed on Saturday.

Aug 09 - Saudi Aramco Q2 profit soars on higher prices, demand recovery

Saudi Arabian state oil producer Aramco reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand. Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets.

Aug 06 - Exxon mulls pledging net-zero carbon emissions by 2050 - sources

Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, according to two people familiar with the matter. The deliberations come as the company is considering its future, the sources said, speaking on the condition of anonymity because the discussions are private. 

Aug 06 - Mexico probing Vitol over false import documents - tax chief

Mexico's government is investigating the world's largest independent energy trader Vitol over "irregularities" in the documenting of its refined oil products entering Mexico that could lead to criminal charges for tax evasion, the country's tax chief told Reuters. The probe of Vitol is part of a drive to investigate alleged import tax violations in Mexico that targets companies including fuel providers and energy traders, just as high-profile players in the sector are increasingly under scrutiny globally for corruption allegations.

Aug 05 - White House rolls out EV sales target, sets stage for new fuel economy standards
- Fuel savings seen around 200 billion gallons of gasoline
- Sets 50% vehicle electrification goal for sales by 2030

Aug 05 - U.S. Senate Democrats target Big Oil for carbon polluters fund

A group of Democratic U.S. senators on Wednesday unveiled legislation establishing a $500 billion fund to be financed by Big Oil and other "carbon polluters" that they hope to attach to broader climate control legislation expected later this year. Modeled after the 1980 "Superfund" program in which polluters pay the costs of cleaning up hazardous substances from contaminated lands, the EPA and Treasury Department would identify the nation's largest "fossil fuel company polluters," according to Senator Chris Van Hollen.

Aug 05 - Chesapeake Energy’s future muddied by executive departures, strategy shifts

When U.S. oil and gas producer Chesapeake Energy Corp emerged from bankruptcy in February, it touted to investors a clean balance sheet, a new board of directors and a promise to restrain spending. Since then, the company has endured a senior management shakeup and, according to two sources familiar with the matter, its interim CEO has told employees that the company is eyeing acquisitions that could help double its size.

Aug 04 - Oil price slide accelerates following unexpected US crude stock build
- US crude stocks climb 3.63 mil barrels
- Crude exports hit 12-week low

Aug 04 - Demand supports North Sea crude differentials, WAF, Med grades struggle
- West African crude hit by backwardation
- Prompt Azeri Light available amid demand struggles

Aug 04 - Fujairah Oil product stocks fall to four-month low as fuel oil exports rise
The total inventory on Aug. 2 was 18.747 million barrels, down 10.5% from a week earlier and the lowest since March 22, the data showed.

Aug 04 - BP shares climb after payout boost, energising transition

BP boosted its dividend and share buybacks on Tuesday, sending its shares up by over 5%, after beating expectations with a $2.8 billion second-quarter profit powered by higher oil prices and recovering demand. The strong results, underpinned by higher sales at petrol stations, went some way towards easing investors' concerns over BP's plan to shift away from oil and gas to renewable and low-carbon energy to combat climate change.

Aug 04 - Occidental Petroleum, Devon Energy impress Wall St as oil price bounces

U.S. oil and gas producers Occidental Petroleum Corp and Devon Energy Corp blew past Wall Street's profit expectations on Tuesday, as easing travel curbs and rising vaccinations boosted fuel demand and crude prices. Shares of Occidental rose nearly 2% to $26.95 in extended trade, while Devon climbed 1.9% to $26.70.

Aug 03 - BP raises oil price assumptions, promises output recovery after 25% Q2 slump
- Supply constraint underpins higher 2025 price outlook
- Looney defends transition plan, restructuring 'largely complete'

Aug 03 - Iran warns of response if security threatened after ship attack -TV

Iran will respond promptly to any threat against its security, the foreign ministry said on Monday, after the United States, Israel and Britain blamed Tehran for an attack on an Israeli-managed tanker off the coast of Oman. Tehran has denied any involvement in the suspected drone attack on Thursday in which two crew members - a Briton and a Romanian - were killed. 

Aug 03 - Rising crude prices lift Diamondback, Continental, Pioneer Natural earnings

U.S. oil and gas producers Diamondback Energy Inc, Continental Resources Inc and Pioneer Natural Resources Co reported strong second-quarter profit as rebounding demand for industrial activity and travel boosted fuel prices. Oil prices are trading near multi-year highs helped by output curbs by the OPEC+, and easing restrictions due to COVID-19 vaccine roll-outs. U.S. crude has climbed 52% since the start of 2021 and 24% in the June quarter.

Aug 02 - Crude slide accelerates as market weighs weak Chinese data, rising supply
An overnight price slide accelerated in midmorning trading Aug. 2 as the market digested rising supply and weaker-than-expected Chinese economic data.

Aug 02 - EU extends for five years anti-dumping measures on US biodiesel
European Union anti-dumping duties on imports of US biodiesel will remain for another five years to prevent surging imports of artificially cheaper US biodiesel, the European Commission said in the EU official journal Aug. 2.

Aug 02 - Singapore's jet fuel/kerosene MOC trade volume rises 20% on month in July on demand uptick
The volume of physical jet fuel traded during the Platts Market on Close assessment process in Singapore rose 20% month on month to 500,000 barrels in July amid firmer demand from Europe and the US West Coast, S&P Global Platts data showed.

Aug 02 - Brazil June oil exports jump 54% on year amid refinery maintenance

Brazil's crude oil exports jumped 53.7% year on year in June amid maintenance at various refineries that reduced the demand for crude, and the output of domestic refined products, the National Petroleum Agency, or ANP, said Aug. 2.

Aug 02 - Japan's Cosmo Oil to start commercial sustainable aviation fuel output by 2025

Cosmo Oil, Japan's third-largest refiner, said Aug. 2 it will start commercial production of sustainable aviation fuel by 2025 after running a government-funded pilot project over fiscal 2021-22 (April-March) to FY 2024-25.

Aug 02 - Crude slides as weak China PMI, delta spread hit demand outlooks
Crude futures settled lower Aug. 2 as weaker-than-expected Chinese economic data and the continued spread of the COVID-19 delta variant added headwinds to demand outlooks.

Aug 02 - Asia crude oil: Key market indicators for Aug. 2-6
Crude oil futures ticked lower in mid-morning trade in Asia Aug. 2 from the July 30 Asian close after OPEC+ on Aug. 1 increased production levels by 400,000 b/d.

Aug 02 - Brazil Refined-product sales advance 12.1% on year in June
Brazilian fuel distributors registered a 12.1% year-on-year advance in refined-product sales in June as demand in Latin America's largest economy continued to bounce back from the world's second-deadliest coronavirus outbreak, the National Petroleum Agency said Aug. 2.

Aug 02 - Global airline capacity slips 0.5% on week as jet fuel recovery continues: OAG
Global jet fuel demand may be slowly picking up, but scheduled airline traffic remains fragile with capacity for the period starting Aug. 2 slipping 0.5% on week to 81.3 million seats, according to aviation data company OAG.

Aug 02 - EMEA Octanes: Key market indicators
Strong demand for gasoline and high octane components puts pressure on the supply side, while blenders pivot away from butane as a blendstock destined for the US Atlantic Coast.

Aug 02 - Mexico strikes pact with Canada's TC Energy for natural gas pipeline

Mexico's state power utility has struck a deal with Canada's TC Energy Corp to develop a natural gas pipeline in the country's south and consolidate the firm's contracts in the central region, the utility said on Sunday. The pact appeared to mark a rare moment of agreement after months of dispute between energy companies and Mexico, which said such firms had benefited from contracts that put an unfair burden on taxpayers.

Aug 02 - Oil Search, Santos close to deal to create top 20 global oil firm

Oil Search said on Monday it intended to recommend an improved buyout offer from Santos Ltd, worth A$8.4 billion ($6.2 billion), in a deal that would create a top-20 global oil and gas company. The merged group would own oil and gas assets in Australia, Papua New Guinea (PNG) and Alaska, with the jewel in the crown considered to be their combined 42.5% stake in the PNG LNG project, overtaking the 33.2% stake owned by Exxon Mobil Corp, operator of the project.

Aug 02 - Exxon profit tops estimates on boost from chemicals, oil prices

Exxon Mobil on Friday posted its biggest quarterly profit in more than a year that also sailed past analysts' estimates, boosted by higher oil prices and record earnings at its chemicals business. The upbeat results following a contested board fight over the company's direction highlighted how oil producers are taking advantage of a recovery in oil prices to cut debt and boost shareholder payouts rather than spend more to raise production.

Jul 30 - Repsol's Q2 oil and gas output declines amid asset revamp
Spain's Repsol on July 29 reported a 3% year-on-year decline in its oil production in the second quarter to 208,000 b/d and a much steeper drop in gas output citing maintenance and asset sales as it slims its portfolio as part of energy transition efforts.

Jul 30 - Natural gas production to be flat, but greener, higher value: EQT
Executives at EQT, the largest natural gas producer in the US, plan to capture value by producing greener gas, not necessarily more gas, they said during a second quarter earnings call July 29.

Jul 30 - ExxonMobil aims to boost Permian output by 40,000 boe/d in Q3
ExxonMobil pumped 400,000 b/d of oil equivalent from the Permian Basin in Q2 021, which it aims to increase by 40,000 boe/d in Q3 through continued operating efficiencies, the company said July 30.

Jul 30 - Crude rally extends on weaker dollar, tightened supply outlook
Crude prices extended their rally July 29, settling higher on the back of a weaker US dollar and tightening inventories.

Jul 30 - Eni raises oil price outlook as market recovery powers strong Q2 earnings

Italy's Eni raised its near-term oil price outlook July 30 as the market rebound fueled strong second quarter earnings despite lower production volumes and negative refining margins.

Jul 30 - Enbridge prepares to finish Line 3 replacement, ramp up volumes
Enbridge's Line 3 replacement project is roughly 80% complete and still slated to come online in the fourth quarter as the Canadian oil sands industry continues to bank on Enbridge alleviating the nation's pipeline bottleneck problem after the recent cancelation of the competing Keystone XL project.

Jul 30 - India's IOC April-June refining margin at $6.58/b, focuses on LNG
State-run Indian Oil Corp.'s gross refining margin reached $6.58/b in the first quarter of 2021-22 fiscal year compared with minus $1.98/b in the year-ago quarter on inventory gain and better returns from cracks, company officials said July 30.

Jul 30 - Japan's JERA maintains 'sufficient LNG stocks' at summer power demand
Japan's largest power generation company JERA has maintained "an appropriate level of LNG stocks" as of July 30 in the midst of the current summer demand and will ensure its sufficient inventories during the demand season, a company official said.

Jul 30 - Crude rally extends as market eyes tightened supply outlooks
Crude futures extended their bull run July 30, settling higher for a third straight session, as the market looked past pandemic-related demand concerns toward tightened supply outlooks.

Jul 30 - Air France-KLM expects Q3 capacity to reach 60%-70% of 2019 capacity
Air France-KLM on July 30 said it plans to fly 60%-70% of 2019 passenger capacity over the three months to September 30, but did not provide any capacity guidance for the fourth quarter of the year.

Jul 30 - European jet fuel imports from East of Suez at 330,000 mt so far for September: cFlow
The minimum volume of jet fuel that is so far scheduled to come into Europe from the East of Suez in September stood at 330,000 mt as of July 30, according to cFlow, S&P Global Platts' trade flow software, and fixtures from shipping sources.

Jul 30 - PNG LNG working to resume LNG, condensate output: ExxonMobil PNG
The PNG LNG project in Papua New Guinea is working to resume LNG and condensate production in the coming days after power was restored at the associated Kutubu Central Processing Facility following a recent outage, a spokeswoman for ExxonMobil PNG Ltd, the operator of PNG LNG, said in an emailed response to queries.

Jul 30 - Big Oil back to boom after pandemic bust, aiding climate push 

Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from Royal Dutch Shell, TotalEnergies and Norway's Equinor were eager to highlight the rapid reversal in fortunes. 

Jul 30 - Rebound in oil demand boosts results of refiners Valero, PBF 

U.S. refiners Valero Energy Corp and PBF Energy Inc reported results that surpassed analysts' expectations, as they benefited from a rebound in fuel demand due to an easing in COVID-19-related travel curbs. After hitting record lows in 2020, fuel consumption has been rising this year as expanding vaccination drives encourage governments to lift virus-led restrictions.

Jul 29 - Shell's profit soars as it boosts dividend and launches buybacks 

Royal Dutch Shell boosted its dividend and launched a $2 billion share buyback programme on Thursday after second quarter profits jumped to their highest in over two years following a sharp rise in oil and gas prices. The Anglo-Dutch company saw a surge in cash generation, driven by higher commodity prices and a recovery in global energy demand from the pandemic slump, which also helped it to cut debt.

Jul 29 - U.S. crude stockpiles slide as imports fall - EIA 

U.S. crude stockpiles last week fell to their lowest since January 2020 as imports and production dropped, the Energy Information Administration said on Wednesday. Crude inventories fell by 4.1 million barrels to 435.6 million barrels in the week to July 23, more than analysts' expectations in a Reuters poll for a decrease of 2.9 million barrels.

Jul 28 - Climate change-fueled air turbulence set to hike jet fuel demand: scientist
Climate change is expected to drive an increase in the severity of air turbulence which could boost demand for jet fuel in the aviation sector as well as sustainable aviation fuels and carbon credits, an atmospheric scientist said July 28.

Jul 28 - June refinery output rises as gasoline, bunker fuel lead recovery
Brazil's refineries registered year-on-year output growth in June as increased production of gasoline and bunker fuel offset barrels of diesel lost to maintenance shutdowns, according to the National Petroleum Agency's latest production report released July 28.

Jul 28 - Oil steady as US crude stocks tighten while gasoline demand languishes

Crude prices were steady in midmorning trading July 28 as a resumption of US crude oil inventory draws was offset by weaker-than-expected gasoline demand.

Jul 28 - Enterprise reports rising crude flows, still bullish on Texas terminal

Enterprise Products Partners co-CEOs Jim Teague and Randy Fowler July 28 touted the ongoing rebound in energy demand and remained bullish on building a deepwater crude-exporting terminal offshore of Texas, called SPOT, as early as 2022.

Jul 28 - OMV gets production lift from Libyan assets; raises oil, gas price outlook
Austrian producer and refiner OMV reported a 6% rise in second-quarter oil and gas production July 28 helped by returning Libyan volumes and raised its outlook for oil and gas prices for the year.

Jul 28 - Thailand's Aug spot fuel oil exports likely to fall on month amid lack of volumes from PTT
Spot fuel oil cargo exports in August from Thailand are expected to fall compared to July with state-owned PTT to skip exports, according to a company source.

Jul 28 - US FERC weighs airlines' request for emergency action on jet fuel shortage at Reno
The US Federal Energy Regulatory Commission is considering airlines' emergency request to order a pipeline to allocate more space for jet fuel as Nevada's Reno-Tahoe International Airport faces a likely supply shortage through August as a result of a pandemic-related market disruption.

Jul 28 - ExxonMobil announces 'significant' discovery at Guyana's Whiptail field
An ExxonMobil-led consortium has made a "significant" discovery at Whiptail, on Guyana's offshore Stabroek block that could form the basis for a future oil development on the block's southeast area and add to current estimates of 9 billion boe of recoverable resources, according to partner Hess Corp.

Jul 28 - Crude rally extends as EIA reports tighter US inventories
Crude oil futures settled higher July 28 on the heels of a US Energy Information Administration reports showing lower US production and tightening supply.

Jul 28 - US crude oil inventories fall to 18-month low amid import slowdown: EIA
US crude oil inventory draws resumed in the week ended July 23 amid much lower imports and steady exports, Energy Information Administration data showed July 28.

Jul 28 - BHP not planning to leave Trion joint venture in Mexico, Pemex says
Australian oil, gas and mining company BHP Billiton is not planning to leave Mexico and its partnership with Pemex, the Mexican state oil company's management said July 28.

Jul 28 - Summer's gasoline recovery could fizzle on rising infection cases 

The summer rebound in global fuel demand could be turning into a slowdown, as analysts expect gasoline consumption to taper off due to resurgent coronavirus cases and structural changes in commuting patterns. Gasoline demand in the United States, the world's top oil consumer, has nearly recovered to 2019 levels following the plunge in travel and business activity during the worst of the pandemic in 2020.

Jul 28 - U.S. oil refiners set for first profit since onset of pandemic 

U.S. oil refiners are set to post their first quarterly profit since the COVID-19 pandemic, even though higher oil prices and weaker margins in June have tamed analysts' optimism fostered by the rebound in fuel demand. U.S. gasoline and diesel fuel demand has nearly recovered to 2019 levels following the plunge in travel and business activity during the worst of the coronavirus pandemic in 2020. Refiners ramped up processing on the back of the resurgence in activity, but are also grappling with higher crude oil prices, which have surged 48% this year.

Jul 27 - Crude slide extends as market eyes US inventory data, delta variant
Crude oil futures settled lower July 27 as traders looked to upcoming US inventory and economic data for signs of next direction against a backdrop of rising coronavirus infections around the world.

Jul 27 - Oil demand recovery, supply outlook favorable for clean tankers: Ardmore
The product tanker market fell into low earnings at the start of the third quarter, following typical seasonality, but forecasts of rebounding oil demand by the end of 2021 and longer-term tanker supply dynamics have given clean tanker owners a bullish outlook, Ardmore Shipping CFO Paul Tivnan, said July 27 in the company's Q2 earnings call.

Jul 27 - Europe rivals Asia for US naphtha cargoes amid short supply
Tight supply for naphtha in both Asia and Europe has seen a tug of war between the regions for US-origin cargoes, resulting in US naphtha shipments to Europe reaching a multi-year high for July arrivals while diminishing supplies to Asia.

Jul 27 - Argentina's YPF launching first shale oil pilot project in Mendoza
YPF, the biggest oil producer and second for natural gas in Argentina, said late July 26 that it is launching its first shale pilot project in Mendoza -- a western province at the northern end of the Vaca Muerta shale play -- and is seeking to squeeze more out of maturing conventional reserves.

Jul 27 - JetBlue Airways stitches sustainability into its growth strategy
As JetBlue Airways works to recover from lower air travel demand resulting from the coronavirus pandemic, it seeks to optimize operations by adding international flights, creating alliances with bigger airlines, and bolstering its commitment to energy transition.

Jul 27 - Weaker Chinese demand makes Atlantic Basin crude sellers look elsewhere
Chinese refiners are not importing as much crude oil. Poor arbitrage economics, surging outright prices, and pressure on the independent refining sector have reduced the country's demand for long-haul Atlantic basin barrels in recent trading cycles, forcing sellers of these grades to discount and look elsewhere, according to market participants.

Jul 27 - Gasoil Med-NWE cargo spread widest since Dec on divergent fundamentals

The differential between 0.1% gasoil cargo markets in the Mediterranean and Northwest Europe reached a seven-month high, as an improved outlook in the former outpaced subdued fundamentals in the latter.

Jul 27 - Singapore jet fuel M1/M2 contango time spread narrows to 11-week high on travel optimism
The Singapore front-month August-September jet fuel/kerosene contango time spread narrowed to a 11-week high July 26, spurred by travel optimism in the downstream aviation sector, industry sources said.

Jul 27 - Australia May gasoline, kerosene, jet fuel imports fall on tepid demand
Australia's oil products imports mostly fell in May, with gasoline, kerosene and jet fuel showing a sharp decline on the month as demand slowed after parts of the country grappled with COVID-19 lockdowns.

Jul 27 - NWE jet fuel cargoes hit 17-month high versus ICE LSGO on August demand
Cargoes of jet fuel trading in Northwest Europe strengthened on July 26 to their highest level since February 2020, as supply tightened slightly amid increased demand and lower-than-expected arrival volumes from East of Suez.

Jul 27 - Crude comes under pressure as delta spread clouds outlooks

Crude futures edged lower in midday trading July 27 as the market weighed tightening supply outlooks against pandemic-driven demand growth concerns.

Jul 27 - Inter Pipeline walks away from Pembina deal in favor of Brookfield bid 

Canadian pipeline operator Inter Pipeline on Monday decided against recommending a C$8.5 billion ($6.77 billion) deal with rival Pembina Pipeline Corp to shareholders and instead chose to pursue a higher bid from Brookfield Infrastructure Partners. Following Inter's U-turn, Pembina terminated the deal, choosing to walk away with a C$350 million breakup fee, while Brookfield said it expected Inter to recommend its offer to shareholders.

Jul 27 - Oil prices retrench on massive hedge fund sales: Kemp 

Portfolio managers sold petroleum last week at one of the fastest rates for a decade, after an upsurge in coronavirus cases and an OPEC+ agreement to boost output caused them to reassess the likelihood of further price increases. Hedge funds and other money managers sold the equivalent of 172 million barrels in the six most important futures and options contracts in the week to July 20, the fastest rate since July 2018.

Jul 26 - Kinder Morgan's Elba Liquefaction receives highest gas deliveries since July 1
Feedgas demand at Kinder Morgan's Elba Liquefaction terminal in Georgia reached its highest level in three weeks July 23, as strong international prices spur high utilization at US export terminals.

Jul 26 - Haynesville production surge looms as drilling, well completions accelerate

Drilling activity in the Haynesville Shale has picked up recently to levels not seen since late 2019 as producers there prepare for growth supported by strong gas prices and improving rates of return.

Jul 26 - Crude searches for direction amid delta spread, tightening supply outlook
Crude oil futures finished a directionless session mixed July 26 as the market consolidated ahead of a week laden with corporate earnings and economic indicator releases.

Jul 26 - Global airline capacity dips 1.3% on week:
Global scheduled airline capacity for the week starting July 26 slipped 1.3% week on week from a 15-month high to 81.7 million seats, dragged down by a new plunge in Southeast Asia capacity and fall in Northeast Asia, according to aviation data company OAG.

Jul 26 - Ryanair hikes passenger traffic forecast but says visibility for 2021/22 close to zero
Irish airline Ryanair, Europe's biggest carrier and a proxy for jet fuel demand, has revised slightly upwards its passenger traffic expectations for its 2021/22 year as restrictions for vaccinated travelers ease, but remains highly cautious over the outlook for the coming months.

Jul 26 - Air Products to decarbonize global truck fleet with Cummins hydrogen fuel cells
Chemicals company and leading hydrogen producer Air Products plans to decarbonize its fleet of around 2,000 trucks with hydrogen fuel cell technology from Cummins, starting from 2022, the companies said July 26.

Jul 26 - Asia Octanes: Key market indicators for July 26-30
Headwinds abound for Asian blendstock markets in the trading week to July 30 as high regional naphtha and toluene prices keep end-users and blenders on the sidelines.

Jul 26 - EMEA Octanes: Key market indicators
Improving gasoline demand in Europe and export markets will support blendstock demand for naphtha and butane, while high octane components will also see strength from the bullish gasoline complex.

Jul 26 - SoCalGas shoots for $1.50/kg green hydrogen in Los Angeles basin by 2030
Southern California Gas Company said July 26 that it has launched an initiative to develop a green hydrogen ecosystem to achieve at-scale procurement of green hydrogen at in the Los Angeles basin by 2030.

Jul 26 - Asia middle distillates: Key market indicators for July 26-30
Asian middle distillate markets are entering the July 26-30 trading week on a steady-to-firmer note, with tightening gasoil supply balances shifting the sector toward firmer ground, while demand for jet fuel/kerosene continues to face headwinds amid a spike in COVID-19 cases in the region.

Jul 26 - EMEA Middle Distillates: Key market indicators
European distillates markets looked a touch firmer amid increased demand for ULSD and jet in Europe overall and tighter supply in the Mediterranean for all products.

Jul 26 - Asia light ends: Key market indicators for July 26-30
The direction of Asia's light ends markets was mixed in mid-morning trade July 26, with gasoline driven up by a stronger US RBOB-Brent crack; though this may be balanced by ample Chinese exports in August.

Jul 26 - EMEA Light ends: Key market indicators
Strength in the light ends complex continues as demand for gasoline exports emerges and supply tightness persists.

Jul 26 - U.S. mulls crackdown on Chinese imports of Iranian oil 

The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does, a U.S. official said. Washington told Beijing earlier this year its main aim was to revive compliance with the 2015 Iran nuclear deal and, assuming a timely return, there was no need to punish Chinese firms violating U.S. sanctions by buying Iranian crude, the official said.

Jul 26 - Commodity trader Freepoint faces U.S. bribery probe, sources say 

The U.S. Justice Department is investigating Connecticut-based trading house Freepoint Commodities over whether payments to employees of Brazil's state-run oil company broke U.S. laws, two sources with knowledge of the matter told Reuters this week. The criminal probe, which is being led by prosecutors in Washington, complements a separate, ongoing bribery investigation into the company by authorities in Brazil, said the sources, who requested anonymity to discuss confidential matters.

Jul 23 - Petrobras boosts Q2 refinery output on year amid demand recovery
Brazil's Petrobras boosted output of diesel, gasoline and bunker fuel 6% on the year in the second quarter, as Latin America's biggest economy continued to rebound from the world's second-deadliest coronavirus outbreak.

Jul 23 - Crude prices post small gains to end rollercoaster week
Crude oil futures ticked up slightly July 23, ending higher for the fourth consecutive day on optimism that global production increases would fall short of a demand recovery.

Jul 23 - Australia first liquid hydrogen shipment to Japan delayed to Oct-Mar

The carrier had previously been expected in July-August.

Jul 23 - China Crude quota vacuum pushes buyers toward costly bitumen blend imports

Traders and refiners in China have continued to import bitumen blend in July despite the feedstock now attracting a new consumption tax of Yuan 1,218/mt ($188.40).

Jul 23 - China's CCPC takes centre stage in Iran, Venezuela oil trade - sources 

A Chinese logistics firm has emerged as a central player in the supply of sanctioned oil from Iran and Venezuela, even after it was blacklisted by Washington two years ago for handling Iranian crude, seven sources with knowledge of the deals told Reuters. The more prominent role of China Concord Petroleum Co, also known as CCPC, and its expansion into trading with Venezuela, have not previously been reported and highlight the limitations of Washington's system of restrictions, analysts say.

Jul 23 - Exxon refinery workers delay decision on scheduling contract offer vote - union official 

Workers at an Exxon Mobil Texas refinery on Thursday put off considering a vote on the company's contract proposal, a union official said, as a lockout neared its fourth month. About 650 United Steelworkers union (USW) members were locked out of Exxon’s Beaumont, Texas, refinery and lubricant oil plant on May 1 after a prior contract covering the 369,024 barrel-per-day (bpd) facility expired.

Jul 22 - U.S. crude stockpiles rise for first time since May as imports surge - EIA 

U.S. crude oil stockpiles rose last week, breaking a streak of eight weeks of declines, as imports surged to their highest in a year, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.1 million barrels in week to July 16 to 439.7 million barrels, compared with analysts' expectations in a Reuters poll for a 4.5 million-barrel drop. 

Jul 22 - Mercuria bulks up energy transition team with BP, Shell hires - sources 

Global commodity trader Mercuria is aggressively expanding its energy transition business, snapping up employees from oil majors BP Plc and Royal Dutch Shell, according to three people familiar with the matter and employee LinkedIn profiles. The hires illustrate the rush in the energy industry to recruit staff with knowledge of carbon trading and renewable fuels markets as the world transitions to cleaner energy sources in a bid to fight climate change. Investment firms and commodity merchants, including hedge fund Citadel, Gunvor Group and Trafigura, have bolstered and are looking to expand U.S. teams that specialize in trading renewable fuels.

Jul 21 - Falling US crude exports could remain at low levels into August
US crude exports showed a sharp fall the week-ended July 16, according to the US Energy Information Administration and a continued slowdown in fixture activity amid tough export economics could see lower export figures into August.

Jul 21 - US crude oil inventories build offset by product draws, rising demand
Increasing demand for gasoline and diesel in the US offset a 2.1 million-barrel build in commercial crude inventories for the week ended July 16, contributing to the ongoing rebound in crude prices from the biggest one-day drop in oil futures of 2021 to start the week.

Jul 21 - Crude, products prices spike as market rebound continues
Crude oil futures spiked July 21 to back above the $70/b threshold as commodities and stock markets continued to rebound from the big July 19 selloff that was triggered by concerns of rising crude production and potential demand weakness from the rapidly spreading COVID-19 delta variant.

Jul 21 - South Africa's Sapref confirms restart after temporary shutdown
South Africa's largest refinery Sapref has begun to restart its units at its Durban facility after unrest forced a suspension to operations, the company said in a statement July 20.

Jul 21 - South Africa's Sapref restarts units after temporary shut
Sapref has begun to restart its units at its 175,200 b/d Durban facility, as important supply routes had been reestablished following the resumption of operations at nearby ports, industry sources with knowledge of the matter told S&P Global Platts.

Jul 21 - Saudi May fuel oil imports jump 66% on month to highest level in 2021
The country stepped up procurement to meet demand from the utilities sector as summer temperatures rose, according to Middle Eastern traders.

Jul 21 - Japan July 11-17 oil product exports rise 81% on week to 3.05 mil barrels
Low sulfur fuel oil exports fell 26.3% on the week to 321,595 barrels in the week to July 17, while high sulfur fuel oil exports increased 71.6% on the week to 483,929 barrels.

Jul 21 - China's crude basket to see growth in Middle Eastern market share in H2: analysts
- Middle Eastern arrivals at 5.1 mil b/d in H1
- Saudi Arabia remains top supplier

Jul 21 - White House delays biofuel mandates due to political concerns - sources 

The White House has delayed an annual process meant to decide how much ethanol and other biofuels U.S. oil refiners need to blend into their fuel each year, as it seeks a solution for an issue that pits refinery workers against corn farmers, two sources familiar with the matter said. Lawmakers who represent constituents from both industries have been pushing the Biden administration on the issue for months. Refiners want low volumes of biofuels to keep costs down, while the farm industry wants high volumes to pump up sales of corn-based ethanol and other products. 

Jul 21 - BHP considering exiting oil and gas business - Bloomberg News 

Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter. The world's biggest miner is reviewing its petroleum business and considering options including a trade sale, the report said, adding that the deliberations were still at an early stage and no final decision has been made.

Jul 20 - Crude prices rebound a bit a day after biggest plunge of 2021
Crude oil futures rebounded a little July 20 after the biggest single-day drop in prices of 2021, signaling the day prior was a bit of an overcorrection and also anticipating more bullish US inventories data this week.

Jul 20 - Crude prices partially rebound a day after biggest plunge of 2021
Crude oil futures rebounded somewhat July 20 after the biggest single-day drop in prices of 2021, signaling the day prior was a bit of an overcorrection and also anticipating more bullish US inventories data this week.

Jul 20 - USGC middle distillate shipments to Europe at 120,000 mt in August so far: cFlow
European traders continue to report the arbitrage from the US Gulf Coast as closed, however the European market remains well balanced, with Asian barrels and local production meeting the rising summer demand.

Jul 20 - Crude pauses to take stock after massive sell-off
With the market still reeling from the previous day's movement, quiet after the crash was to be expected, according to analysts.

Jul 20 - European outright gasoil price drops to 8-week low but inland demand remains weak
Outright gasoil prices in Europe have fallen to an eight-week low, on the back of losses in the ICE LSGO futures market, but trading sources said the drop is unlikely to bolster moribund demand in the inland market.

Jul 20 - US issues cyber rules to pipelines, as lawmakers look to counter ransomware threat
In an ongoing effort to protect the US' critical infrastructure from cyberattacks, the Department of Homeland Security July 20 announced a slate of new requirements for pipeline owners and operators to bolster their security posture, including new mitigation measures to protect against ransomware attacks.

Jul 20 - Goldman pushes back forecast for $80/b Brent after crude price sell-off
- Brent crude seen averaging $80/b in Q4 2021
- Platts Analytics sees Brent under $70/b in Q4

Jul 20 - Saudi Arabian crude oil exports hit four-month high in May 

Saudi Arabia's crude oil exports rose in May to 5.649 million barrels per day (bpd), their highest level in four months, Joint Organisations Data Initiative (JODI) said on its website on Monday. Crude oil exports rose from 5.408 million bpd in April, while the country's total oil (crude oil and total oil products) exports stood at 6.94 million bpd in May compared with 6.62 million bpd the previous month.

Jul 20 - Papua New Guinea-focused Oil Search rebuffs $6.5 bln Santos bid 

Oil Search rejected an unsolicited takeover proposal from Santos Ltd valuing the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), but both companies said on Tuesday they wanted to pursue further talks. Oil Search said the offer was not in the best interests of shareholders, but its shares rose 8% after both companies said it made sense to create a group that would rival Australia's top independent gas producer Woodside Petroleum in market value.

Jul 19 - Q2 oil earnings calls to focus on 2021 output, shaky demand recovery
Upcoming second-quarter 2021 earnings calls will likely reflect some optimism from the oil industry because of higher crude prices, although executives will also likely remain cautious for the rest this year from potential demand roadblocks considering the rapidly spreading COVID-19 delta variant.

Jul 19 - German floods add to problems for commodities in region
Catastrophic flooding in Germany, Belgium and the Netherlands over the last week has caused transport and production disruption in the Rhine valley, a major shipping route for commodities in Northern Europe.

Jul 19 - OPEC+ deal, pandemic fears send crude plunging to two-month lows
The combination of the OPEC+ deal to hike production volumes this year and throughout 2022 combined with rising COVID-19 fears and a Wall Street selloff to send crude prices plunging to their lowest levels since May.

Jul 19 - Lukoil sees OPEC+ agreement continuing beyond 2022
Fedun said he did not see climate change policies as a risk to Lukoil's activities, but they are likely to lead to an increase in OPEC's share of the global oil market.

Jul 19 - Iran gears up to use new oil exports terminal
The new terminal, whose construction took six years, walks around the chock point of Strait of Hormuz. Iran's main exports terminal is on the Kharg island in the Persian Gulf.

Jul 19 - Saudi Crude exports rise in May with partial relaxing of production cut:
Saudi Arabia's exports of crude in May rebounded from April's 10-month low, figures from the Joint Organizations Data Initiative showed, as the kingdom began to gradually unwind a voluntary extra 1 million b/d production cut with global oil demand perking up.

Jul 19 - Crude slides as OPEC+ agrees deal
OPEC and its allies reached a deal July 18 to ease production cuts by 400,000 b/d each month starting in August, amounting to a 2 million b/d total increase by the end of the year.

Jul 19 - China: Spike in June oil product outflow squeezes export quota availability
- Only 3.21 million mt quota available for July onward
- Refiners hike June gasoil exports to trim surplus

Jul 19 - Vietnam June oil product imports fall 51% on year to 540,026 mt
Imports of fuel oil and jet fuel fell in the six-month period, while imports of diesel surged.

Jul 19 - OPEC+ agrees oil supply boost after UAE, Saudi reach compromise 

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic. The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 after Saudi Arabia and others agreed to a request from the United Arab Emirates (UAE) that had threatened the plan.

Jul 19 - Goldman Sachs sees 'upside' to oil price forecasts from OPEC+ supply deal 

U.S. investment bank Goldman Sachs said the OPEC+ deal to boost oil supply supports its view on oil prices and expects modest "upside" to its summer forecast for Brent to reach $80 a barrel. OPEC+, comprising the Organization of the Petroleum Exporting Countries, Russia and other producers, agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs.

Jul 16 - Crude prices make small gains after rough week for oil, products
Crude oil futures managed to finish a rough week by making small gains July 16 following a rollercoaster day that saw prices go up, down and ultimately up again.

Jul 16 - Crude steady amid uncertainty over demand, OPEC+ output
Prices have fallen overall in the week to July 16, driven by expectation of an agreement between Saudi Arabia and the UAE on production levels.

Jul 16 - Argentina oil, gas producers look to expand processing, transport capacity

Argentina's oil and natural gas producers are taking steps to expand processing and transport capacity with the view to increasing exports, as investment conditions look poised to improve with new legislation, oil executives said July 14.

Jul 16 - Mexico intensifies fight against illegal fuel imports
The Mexican government is stepping up its efforts to combat fuel contraband as volumes of illegal fuel rise to unprecedented levels, hurting tax revenues and biting at Pemex's market share.

Jul 16 - Med gasoline flips to premium versus NWE amid diverging fundamentals
- Med gasoline prices rise to premium versus NWE
- Lackluster NWE gasoline exports to US in H1 July

Jul 16 - OPEC sees world oil demand reaching pre-pandemic level in 2022 

OPEC forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India. The Organization of the Petroleum Exporting Countries said in its monthly report that demand next year would rise by 3.4% to 99.86 million barrels per day (bpd), and would average more than 100 million bpd in the second half of 2022.

Jul 16 - Investors balk as bankrupt St. Croix refinery needs $1 bln to be viable 

The Limetree Bay refinery, which landed in U.S. bankruptcy court on Monday, needs at least $1 billion to finish a massive overhaul to continue as a viable operation, according to bankers, lawyers and restructuring specialists involved in the case, stacking the odds against the Caribbean facility resuming operations. The St. Croix-based facility's owners burned through $4.1 billion to resurrect what was once the largest refinery in the Western Hemisphere, hoping to take advantage of rising global demand.

Jul 15 - Swoon continues for crude oil, products on supply, demand concerns
Crude oil and refined products prices continued to fall July 15 on increasing crude production from OPEC+ and the US, as well as fears of weaker-than-expected demand caused by the ongoing worldwide spread of the delta variant of the coronavirus.

Jul 15 - ARA diesel, gasoil stocks rise 0.8% in week to July 15: Insights Global
Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp hub rose 0.8% week on week and fell 15.4% on the year to 2.30 million mt in the week to July 15, according to Insights Global data.

Jul 15 - BP to deliver first carbon-offset LNG cargo to Sempra receiving terminal in Mexico
BP was nearing delivery of what was described as its first carbon-offset LNG cargo to Sempra's Energia Costa Azul receiving terminal on Mexico's Pacific Coast, the companies said July 15.

Jul 15 - UAE $1 bil green ammonia project to start in 2024; targets Europe, US markets
The company plans to target regional and international markets, mainly Europe and the United States, Marar said.

Jul 15 - Norway Aker BP hit by maintenance, infrastructure glitches, as Sverdrup surges in Q2
Norway Aker BP suffered a 5% year-on-year drop in its oil and gas output in the second quarter to 199,000 b/d of oil equivalent as rising Johan Sverdrup crude output was offset by maintenance and glitches with North Sea infrastructure elsewhere in its portfolio, it said July 15.

Jul 15 - Med 0.1% gasoil premiums at new 6-month on improving demand, tight supply
The CIF Med 0.1% gasoil premium to front-month ICE LSGO futures was assessed at $2.75/mt July 14, an increase of 50 cents/mt on the day and the highest premium since Jan. 12.

Jul 15 - European mobility edges to post-pandemic high despite rising Delta infections
Oil demand markers in France and Italy improved sharply in the week to July 11, pulling up the average in Europe's biggest economies despite the Delta variant driving up infection rates and a number of countries reviewing travel and further reopening plans.

Jul 15 - Argentina May refinery utilization rises as oil product demand rebounds
Argentina's refinery utilization rate rose to 75.4% in May from 73.1% in April as demand for petroleum products increased, even as a second wave of coronavirus cases brought a curfew and tighter restrictions, a government report showed late July 14.

Jul 15 - South Africa's SAPREF shuts down due to civil unrest, declares force majeure
The jailing of Zuma on July 8 led to widescale protests, which began in Zuma's home province of KwaZulu-Natal and has now spread to other regions.

Jul 15 - Lure of lofty margins lifts China crude runs to record highs in June
Analysts said crude runs in second-half 2021 would remain high as new capacity is expected to come online. In addition, state-run refiners would keep their throughput elevated to meet domestic demand growth.

Jul 15 - Saudi, UAE reach compromise to unlock more oil supply, says source 

Saudi Arabia and the United Arab Emirates have reached a compromise over OPEC+ policy, an OPEC+ source said on Wednesday, in a move that should unlock a deal to supply more crude to a tight oil market and cool soaring prices. Brent oil prices fell on the news by as much as $1 per barrel towards $75 per barrel after Reuters reported the two major OPEC producers had agreed a deal. 

Jul 15 - U.S. crude stockpiles fall for eighth week in a row - EIA 

U.S. crude oil stockpiles fell for the eighth straight week last week, as renewed vigor in the U.S. economy continues to drive higher fuel demand, the Energy Information Administration said on Wednesday. The report was delayed for one hour due to technical issues, the EIA said.

Jul 14 - Crude, products prices plunge on US demand weakness, potential OPEC+ deal
Crude oil and refined products prices plunged July 14 on a confluence of factors including reports of weakening demand in the US and China, a likely end of the OPEC+ stalemate with the United Arab Emirates, and the overarching fear of increasing COVID-19 cases in much of the world from the fast-spreading delta variant.

Jul 14 - Fujairah Oil product stocks rebound as fuel oil, gasoil exports slow
Oil product stockpiles at the UAE Port of Fujairah rebounded to a two-week high after a slowdown in exports of fuel oil and gasoil.

Jul 14 - Northwest European 50 ppm barge differential drops to three-month low

The 50 ppm FOB ARA barge market was assessed at a $5.75/mt discount to the ICE LSGO front-month futures contract July 13, unchanged from the previous day and the largest discount since April 7.

Jul 14 - Crude stays stable amid mixed outlook, strong dollar weighs
"Oil markets are likely to remain volatile until there is clarity on OPEC+ production policy" the IEA said.

Jul 14 - China's CNCEC to build refinery, petrochemical project in Iraq: oil ministry
The 300,000 b/d refinery will be built at the port of Fao on the Gulf.

Jul 14 - India June fuel oil consumption rises 13% on month as local lockdowns lift
India's domestic fuel oil consumption rose 13.4% month on month to 533,000 mt in June, latest Petroleum Planning and Analysis Cell data showed, even as refiners reduced operating rates amid weaker margins for refined products.

Jul 14 - EIA says total US diesel demand weakens to six-month low as stocks build
Total US ultra low sulfur diesel stocks saw a build for the second consecutive week, reaching a 13-week high as demand fell to a six-month low.

Jul 14 - Limetree Bay refinery files for bankruptcy ahead of DOJ environmental complaint
Limetree Bay filed for Chapter 11 bankruptcy in the United States Bankruptcy Court of Southern Texas, as it looks to evaluate options for its 176,400 b/d St. Croix, US Virgin Islands, refinery, including its sale, the company said in a statement.

Jul 14 - S Africa's largest refinery Sapref declares force majeure on civil unrest: sources
South Africa's largest refinery Sapref has shut down due to social unrest caused by the arrest of former President Jacob Zuma, pushing the refiner to declare majeure on the supply of all oil products, sources close to the matter said on July 14.

Jul 14 - US refined products stocks jump on falling demand as prices plunge
US gasoline and distillate stocks rose in the week ended July 9 despite an unexpected dip in refinery utilization as implied demand plunged following the Fourth of July holiday break, US Energy Information Administration data showed July 14.

Jul 14 - New Fortress begins commercial operations at LNG receiving terminal in Mexico

New Fortress Energy, a growing player in supplying LNG to power plants and industrial customers in the Caribbean and Latin America, has begun commercial operations at a receiving terminal on Mexico's Pacific Coast, the company said July 14.

Jul 14 - OPEC+ impasse means tight oil market now, volatility ahead, says IEA 

The oil market will see tighter supply for now amid a dispute inside OPEC+ about how to ease production curbs but it still faces the risk of a dash for market share if disagreement persists, the International Energy Agency (IEA) said on Tuesday. The Paris-based agency said oil prices would be volatile until differences were resolved among members of OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other oil producers.

Jul 14 - Shipping industry seeks to combat dark oil transfers at sea 

Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder for countries, such as Iran and Venezuela, to export the oil that provides their main source of revenue.

Jul 13 - India June gasoil consumption rises 12% on month, recovers from 8-month low
India's gasoil consumption rose 12% month on month in June, the latest provisional data from the Petroleum Planning and Analysis Cell showed, with the increase coming on the back of easing coronavirus-linked restrictions which helped spur demand for middle distillates.

Jul 13 - Crude, fuel prices climb amid rising demand, expected inventory draw
Crude oil futures rose July 13 as strong demand combined with the anticipation for bullish draws in US inventories to boost prices and overwhelm bearish sentiment from spiking US inflation numbers that perked up the dollar.

Jul 13 - Kuwait's new LNG import facility receives commissioning cargo
The commissioning cargo was sourced from Qatar and delivered by the 217,000 cu m Q-Flex class Al Kharsaah tanker on July 12.

Jul 13 - Commodity broker FIS to launch freight, fuel, emissions product
"We are building on FFAs (Forward Freight Agreements) to FFEs (Freight, Fuel, Emissions)" Banaszkiewicz said.

Jul 13 - High inland middle distillate stocks, competitive refineries make Rhine closure inconsequential
Inland middle distillates markets were unaffected by high water levels and closures on the Rhine, as inland stocks and refineries have been more competitive than barrels from the Amsterdam-Rotterdam-Antwerp trading hub and inland stocks remain high despite a narrow contango.

Jul 13 - Clean Tanker quarterly Markets face increased vulnerability in summer months
Overwhelming tonnage, closed arbitrage opportunities and firming bunker fuel prices were the mainstays of the clean tanker markets for most of the second quarter, and will likely be the case heading into Q3 in the West of Suez basins.

Jul 13 - Too late for an August deal, OPEC+ still hopes to head off oil squeeze
OPEC and its allies have thrown in the towel on clinching an oil supply accord for August and are now hoping for a deal to cover September and beyond, delegates told S&P Global Platts, though little progress has been made in the standoff between Saudi Arabia and the UAE.

Jul 13 - Kuwait receives first LNG import at Al Zour as power demand surges
The shipment -- delivered on a Qatari Q-Flex tanker -- consisted of 213,000 cubic meters of LNG, while a second 217,000 cu m shipment from Qatar has also been scheduled, according to a July 12 announcement on the Kuwaiti state-owned news service, Kuna.

Jul 13 - Bankers eye Europe renewable hydrogen opportunity with caution
European developers have announced over 5 GW of electrolysis projects to be commissioned by 2024 and conversations with banks have begun, but it looks like the sector will have to learn to walk before it can run.

Jul 13 - China Jan-June crude imports fall, first H1 drop since 2013 

China's crude oil imports in the first half fell 3% from a year earlier, the first contraction for the first six months of a year since 2013, as an import quota shortage, refinery maintenance and rising global prices curbed buying. Imports totalled 40.14 million tonnes last month, data released by the General Administration of Customs showed on Tuesday, equivalent to 9.77 million barrels per day (bpd).

Jul 13 - U.S. oil mergers surge as energy, share prices recover from pandemic 

U.S. oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, according to data released on Monday, as rising energy and share prices led to larger oilpatch deals. Producer are consolidating in U.S. shale as oil and natural gas prices recover from last year's pandemic swoon and this month traded at multi-year highs. Smaller producers also are snapping up unwanted properties in a bet on continued demand for oil and gas while some big oil companies shift their acquisition emphasis to renewables.

Jul 12 - Crude prices fall on unease of Delta variant, OPEC+ discord
Crude oil prices fell July 12 amid growing unease about the spreading Delta coronavirus variant as well as ongoing concerns over discord within the OPEC+ group that has been unable to agree on unwinding production cuts.

Jul 12 - Russia : Throughput at nation's seaports for Jan-June rises 0.3% on year
In the Caspian basin, overall throughput for January-June fell 12.2% on the year to 3.67 million mt, the ministry said. Dry cargoes fell 30.2% to 1.26 million mt, and liquids rose 1.4% to 2.41 million mt.

Jul 12 - Oil trader Trafigura buys stake in major US salt cavern storage facility

Jul 12 - Russia Jan-May oil product exports stay steady on year
Russia's refined oil product exports over January to May were 0.6% higher year on year at 62.081 million mt, customs data showed July 12.

Jul 12 - East of Suez ULSD flows to Europe at 810,000 mt for July so far:
Around 810,000 mt of East of Suez ultra low sulfur diesel is set to arrive in Europe in July so far, according to S&P Global Platts trade flow software, cFlow.

Jul 12 - Brazil's Petrobras to sell 62.5% Papa-Terra stake to 3R Petroleum

Brazilian state-led oil company Petrobras agreed to sell its 62.5% operating stake in the offshore Papa-Terra Field to new private-equity backed player 3R Petroleum for $106.5 million, Petrobras said July 12.

Jul 12 - US Treasury allows LPG exports to Venezuela in possible sign of easing sanctions
The US Department of Treasury granted a sanctions waiver July 12 allowing US companies to export or re-export LPG supplies to Venezuela, the first move by the Biden administration to ease sanctions on the economically hard-hit country.

Jul 12 - India June oil products demand rises 1.5% on year to 4.3 mil b/d
India's demand for oil products in June rose 1.5% year on year to 16.3 million mt, or 4.3 million b/d, the latest provisional data from the Petroleum Planning and Analysis Cell showed on July 12, reflecting an improvement in oil demand after the second wave of the coronavirus pandemic in Asia's third-largest economy.

Jul 12 - Hydraulic oil spills in Melaka Straits after bulk carrier collides with containership
The Panamax bulk carrier Galapagos has spilled hydraulic oil in the Melaka Straits after colliding with the 15,000 Teu mega container ship Zephyr Lumos over the weekend, Malaysia's maritime authority said July 12.

Jul 12 - Big Oil keeps brakes on spending even with crude rally windfall 

Leading international energy companies are resisting the temptation to rush and spend an unexpected windfall from rallying oil and natural gas prices as they focus on longer-term energy transition challenges, executives and analysts said. Benchmark crude oil prices more than doubled in the second quarter of 2021 from a year earlier and have risen further in recent weeks to close to $78 a barrel, their highest in almost three years as OPEC and other major producers failed to strike an agreement to lift output.

Jul 12 - U.S. petroleum inventories are becoming tight: Kemp 

U.S. petroleum inventories have fallen below the pre-pandemic five-year average with consumption accelerating but crude producers slow to respond to rising prices, signalling more supply is needed. Total stocks of crude and refined products outside the strategic petroleum reserve fell by 10 million barrels last week and are now down by 188 million barrels compared with the same point a year ago.

Jul 09 - NWE 0.1%S gasoil values buck trend to near 6-month high
Marine gasoil demand levels in Northwest Europe cited as possible boosts to 0.1%S gasoil barge premiums.

Jul 09 - Crude climbs as market eyes tightened near-term supply outlook

Rapid drawdown in US crude inventories in recent weeks has supported bullish near-term supply outlooks.

Jul 09 - Grangemouth operators Ineos, Petroineos sign up to Acorn CCS project

- Grangemouth CCS startup planned by 2027
- BP-led Humber and Teesside CCS to combine

Jul 09 - Maersk highlights unexpected costs of building methanol-fueled vessel
- Conventionally produced methanol 43% costlier than LNG
- Existing infrastructure for methanol as a bunker fuel

Jul 09 - High delivered WTI Midland offers support N Sea, WAF crude markets
- Weaker US arb economics support alternative light sweets
- Expectations of lower US flows to Europe in Aug, Sept

Jul 09 - ARA fuel oil stocks down 14% on week at 1.236 million mt:
Insights Global
- Stock draw comes as traders report fewer cargoes on offer
- Spread between 3.5% and 1% sulfur fuel oil widens to $61/mt

Jul 09 - Shell to sell its German Schwedt refinery stake in 2021

Royal Dutch Shell said on Thursday it agreed to sell its stake in eastern German refinery PCK Schwedt, the latest in a string of refinery disposals as part of the Anglo-Dutch company's energy transition strategy.  Shell said in a statement that it will sell its 37.5% share in the refinery for an undisclosed sum to Vienna-based Alcmene GmbH, part of the Liwathon Group, an integrated logistics and investment business headquartered in Estonia.

Jul 09 - Cairn wins freeze on India state assets in Paris in bid to recover tax damages

Cairn Energy said on Thursday a Paris court had accepted its petition that Indian state-owned assets in the city worth over 20 million euros ($24 million) be frozen, claiming a significant win in its campaign to force the Indian government to pay Cairn billion-dollar damages in a protracted tax dispute. A French tribunal ordered the freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn, the London-listed firm said.

Jul 08 - NYMEX RBOB rallies as record demand weighs on US gasoline stocks
Total US gasoline inventories fell 6.08 million barrels during the week that ended July 2.

Jul 08 - Woodside to begin drilling at Senegal Sangomar, first oil still on track for 2023
The Ocean BlackRhino drillship arrived in Senegalese waters July 8, and was just southwest of capital Dakar, according to data from cFlow, S&P Global Platts trade-flow software.

Jul 08 - India appoints new ministers for petroleum, steel, chemicals amid cabinet reshuffle
Hardeep Singh Puri has been appointed as the new minister of petroleum and natural gas, taking over the portfolio from Dharmendra Pradhan, who has been appointed as the education and skills development minister.

Jul 08 - ARA diesel, gasoil stocks fall 2.6% on week
Gasoil demand has been impacted by the seasonal reduction in domestic heating during the summer, coupled with near 18-month high flat prices encouraging consumers to delay restocking.

Jul 08 - China June bitumen blend imports remain heavy for independent refiners, but July volume to drop

- Merey, Iranian crude streams to continue
- More fuel oil cargoes expected in July

Jul 08 - Saudi-UAE still at impasse as Russia steps in to rescue OPEC+ deal

Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources said, with OPEC and its allies yet to set a date for their next oil policy meeting. Disagreement between the two Gulf OPEC allies was publicly exposed last week, with Riyadh and Abu Dhabi at odds over a proposed deal that would have brought more oil to the market -- potentially cooling a rally that has seen prices hit 2-1/2 year highs. 

Jul 08 - Shell to boost shareholder returns after oil price rise

Royal Dutch Shell will boost returns to shareholders via share buybacks or dividends earlier than expected after a sharp rise in oil and gas prices helped it reduce debt, the Anglo-Dutch energy firm said on Wednesday. Shell will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in the second quarter, the company said in a trading statement before quarterly results.

Jul 07 - Energy rout extends as market eyes OPEC+ discord, rising supply outlooks
Stronger US dollar adds to downward pressure on crude prices.

Jul 07 - Fujairah Oil product stocks fall to six-week low on higher summer demand
Heavy distillates inventories were down 33% from this time last year, according to the FOIZ data provided exclusively to Platts. Stockpiles may continue to decline after Pakistan State Oil bought 65,000 mt of 180 CST high sulfur fuel oil, with maximum 3.5% sulfur from Vitol for delivery to Port Qasim over July 21-29 at a premium of $52.28/mt to the Mean of Platts Arab Gulf 180 CST HSFO assessments, CFR, Platts reported earlier.

Jul 07 - Goldman says crude oil output path uncertain as OPEC+ talks cease

Goldman Sachs said on Tuesday the collapse of OPEC+'s oil output talks had introduced uncertainty into the prospects for output, but maintained its view that Brent crude would be around $80 a barrel this summer, and that output would increase gradually early next year.  Ministers of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, called off talks on Monday and set no new date to resume them, after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs. 

Jul 07 - U.S. shale firms hesitate to pump - or hedge - more, despite oil high prices

OPEC's sudden disarray would seem to be an opportunity for U.S. shale producers to lock in profits, with oil prices near multi-year-highs, but sources at those companies say they are not taking chances with the market's volatility. Shale producers are famous for boosting output whenever oil prices surge. However, the shale industry has been notably restrained so far this year even as oil surged past $70 a barrel. They have maintained a lower level of production after vowing to investors that they would hold the line on spending to boost returns.

Jul 06 - OPEC+ abandons oil policy meeting after Saudi-UAE clash

OPEC+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed. Saudi energy minister Prince Abdulaziz bin Salman had called for "compromise and rationality" to secure a deal after two days of failed discussions last week.

Jul 06 - Mexican oil giant says no environmental damage from raging Gulf fire

Just days after video of a massive ocean surface blaze near a Pemex oil platform in the Gulf of Mexico went viral, Mexico's national oil company has declared that environmental damage was avoided due to quick action by its workers. The July 2 blaze, caught on video apparently from a nearby helicopter, showed bright orange flames jumping out of the water as the fire raged a short distance from the oil platform. Pemex has previously said it took more than five hours to fully extinguish the fire.

Jul 05 - Saudi Arabia pushes back on UAE opposition to OPEC+ deal

Saudi Arabia's energy minister pushed back on Sunday against opposition by fellow Gulf producer the United Arab Emirates to a proposed OPEC+ deal and called for "compromise and rationality" to secure agreement when the group reconvenes on Monday. It was a rare public spat between allies whose national interests have increasingly diverged, spilling over into OPEC+ policy setting at a time consumers want more crude to aid a global recovery from the COVID-19 pandemic.

Jul 05 - OPEC+ stumbles, but an eventual compromise may be bearish for crude: Russell

The OPEC+ group of oil exporters is struggling to reach a compromise over just how much more crude to supply to the market, but assuming a deal is eventually cut, it's likely to be bearish for prices. The group had agreed last week to boost its production by a total of 2 million barrels per day (bpd) from August to December. But that accord wasn't ratified after the United Arab Emirates (UAE) wanted changes that would allow it to increase its output by a larger amount.

Jul 02 - OPEC+ delays meeting to Friday as UAE objects to new oil deal

OPEC+ delayed its ministerial meeting until Friday to hold more talks on oil output policy, OPEC+ sources said on Thursday, after the United Arab Emirates blocked a plan for an immediate easing of cuts and their extension to the end of 2022. OPEC+ sources earlier said the plan, on which top OPEC+ producers Saudi Arabia and Russia had reached a preliminary agreement, would see output rise by 0.4 million bpd a month from August to December 2021 to meet rising global demand.

Jul 02 - Oil companies bet on $100 a barrel as they rush to sell assets

Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in more than four years. Large oil companies are unloading properties from Texas to California, with some using the market rally as a chance to rake in cash for future investment in the global transition to cleaner energy.

Jul 01 - Shell plans to exit California joint venture with Exxon Mobil - sources

Royal Dutch Shell Plc plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp, four people familiar with the talks told Reuters. Shell has divested numerous carbon intensive assets this year, selling its refinery in Washington state to Holly Frontier Corp and its stake in a Houston-area refining joint venture to Petroleos Mexicanos as it shifts new investments to renewables and power.

July 01 - OPEC+ may extend oil supply cuts amid warning of glut, sources say

OPEC+ is expected to discuss extending its deal on cutting oil supply beyond April 2022, two OPEC+ sources said on Wednesday, after a panel set up by the group warned of "significant uncertainties" and the risk of an oil glut next year. The Organization of the Petroleum Exporting countries, Russia and its allies, a group known as OPEC+, agreed to record output cuts of about 10 million barrels per day (bpd), starting from May 2020 and due to phase out by the end of April 2022.