Energy News

Jun 24 - Unit at Philadelphia refinery completely destroyed in fire - sources
The alkylation unit involved in a massive fire on Friday at Philadelphia Energy Solutions Inc's oil refinery has been completely destroyed, which will hamper the supply of gasoline from the U.S. East Coast's largest refinery, sources familiar with the matter said on Sunday. The destruction of the unit, coupled with damage from the fire that ripped through the 335,000 barrel-per-day (bpd) refining complex, could force the 200,000 bpd Girard Point section of the two-section complex to remain shut for an extended period. 

Jun 24 - Lower for longer: Supply glut in focus as Asia's biggest coal meet begins
Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply. This supply-demand tandem is likely to keep prices for coal used in power plants and the manufacture of cement under pressure in coming months and perhaps longer, industry sources said as Asia's biggest coal conference got underway.

Jun 24 - Exxon's $53 bln Iraq deal hit by contract snags, Iran tensions - sources
Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq's oil output at its southern fields, a milestone in the company's ambitions to expand in the country. But now a combination of contractual wrangling and security concerns, heightened by escalating tensions between Iraq's bigger neighbour Iran and the United States, has conspired to hold back a deal, according to Iraqi government officials.

Jun 24 - Hedge funds boost bullish bets on U.S. crude - CFTC
Hedge funds and money managers raised bullish wagers on U.S. crude in the week to June 18, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday, as tensions in the Middle East flared, threatening supply disruptions. The speculator group raised its combined U.S. crude futures and options position in New York and London by 12,454 contracts to 159,141 during the period, the data showed.

Jun 24 - Oil in floating storage hit near two-year high in May - Vortexa data
Crude and condensate in long-term floating storage hit its highest since August 2017 in May at 24 million barrels, as U.S. sanctions against Venezuela and Iran hindered the ability of the OPEC members to export, data from analytics firm Vortexa showed. Floating storage rose 15 million barrels in May compared with average levels of May 2018, and levels this month have already reached 26 million barrels, the data showed on Friday.

Jun 24 - Pemex plans debt refinancing, greater output as path to healthier balance sheet
Mexican state oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil output to boost income, the firm's chief financial officer said, as pressure mounts from ratings agencies over the company's performance. Alberto Velazquez, the CFO, said in an interview that the $2.5 billion mostly includes outstanding bonds. 

Jun 24 - Trump talks to Saudi crown prince on Iran, oil
U.S. President Donald Trump spoke on Friday to Saudi Crown Prince Mohammed bin Salman about Middle East stability and the oil market, the White House said, after tensions with Iran prompted a rise in oil prices. "The two leaders discussed Saudi Arabia’s critical role in ensuring stability in the Middle East and in the global oil market. 

Jun 24 - U.S. drillers add oil rigs for first week in three -Baker Hughes
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week. Big energy price declines over the prior couple of months, however, prompted one analyst to cut rig count forecasts for 2019 and 2020.

Jun 24 - S.Korean firm wins mining leases for long-delayed Australian coal project 
An Australian state on Friday granted mining leases for a coal mine controlled by Korea Resources Corp (KORES), clearing the way for a project that green groups and some local communities have battled for more than a decade. The final approval from the New South Wales (NSW) state government follows a surprise victory for the pro-coal conservative government in an Australian election in which climate change had been a key issue.

Jun 21 - Exxon's $53 bln Iraq deal hit by contract snags, Iran tensions - sources
Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq's oil output at its southern fields, a milestone in the company's ambitions to expand in the country. But now a combination of contractual wrangling and security concerns, heightened by escalating tensions between Iraq's bigger neighbour Iran and the United States, has conspired to hold back a deal, according to Iraqi government officials.

Jun 21 - Probes and squeezed profits change the oil trading game
For the world's biggest oil traders, it feels like a return to the 1980s when earnings were diluted by an abundance of crude. After three decades of stellar expansion and booming revenues, profit margins at Vitol, Glencore, Trafigura, Gunvor, Mercuria and other merchants have been squeezed by a market again awash with crude and amid stiff competition from national oil firms.

Jun 21 - Gulf oil producers to maintain output within OPEC target in July - sources
Gulf OPEC producers will keep their July oil production within their OPEC target despite the current global supply cut pact expiring at end of June, OPEC sources said on Thursday, a signal that the Gulf exporters are reluctant to boost supply. Saudi Arabia, the top global oil exporter's crude output in June will be around the same level of its May production, and its July output will remain within its obligation under the OPEC-led supply cut deal, the sources said.

Jun 21 - Trump orders review of controversial biofuel waiver program - sources
U.S. President Donald Trump has directed members of his Cabinet to review the administration’s expanded use of waivers exempting small refineries from the nation’s biofuel policy, after hearing from farmers angry about the issue during his recent Midwest tour, according to three sources familiar with the matter. Trump's move underscores the rising political importance of the U.S. Renewable Fuel Standard, a more than decade-old law which requires refineries to blend corn-based ethanol into their gasoline to help farmers, but which also provides waivers to small refining facilities that can prove compliance would cause them financial harm.

Jun 21 - OPEC's market share is in long-term decline: Kemp
The Organisation of the Petroleum Exporting Countries' share of the global oil market is progressively eroding as it attempts to keep prices artificially high by restricting its own production. OPEC's share of global production fell to just 41.5% last year, the lowest since 2003, according to figures contained in the latest edition of the BP Statistical Review of World Energy, published on June 11.

Jun 21 - Chevron Phillips Chemical in bid to acquire Nova Chemicals - sources
Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday. Chevron Phillips Chemical, one of the world's top petrochemical producers, would gain scale and expand its footprint through the acquisition of Nova Chemicals, whose expandable polystyrene and resins are used in a range of industries, from construction to packaging.

Jun 21 - Mexico's Pemex to stick to areas it knows best, pass on deepwater - CFO
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn around a 14-year slide in crude production, a top official said on Thursday. Chief Financial Officer Alberto Velazquez outlined the approach the state-owned oil company known as Pemex will take at a conference in the colonial city of Leon on Thursday.

Jun 20 - Staff evacuated as rocket strikes near foreign oil firms in Iraq
A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions in the region. There was no immediate claim of responsibility for the attack near Iraq's southern city of Basra, the fourth time in a week that rockets have struck near U.S. installations. 

Jun 20 - U.S. refiner Phillips 66 enters offshore oil export race
U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, the company said on Wednesday, challenging at least eight other projects aiming to send U.S. shale oil to world markets. The project, called Bluewater Texas Terminal LLC, signals another major expansion of its logistics operations. 

Jun 20 - OPEC wrangle over meeting date exposes deepening Saudi-Iran rift
OPEC's month-long wrangle over a date for its next meeting has highlighted a changing dynamic in the group with decisions increasingly driven by long-time leader Saudi Arabia in tandem with non-OPEC Russia, angering member states like Iran. Decision-making has never been easy in the Organization of the Petroleum Exporting Countries, which groups 14 Arab and non-Arab oil producers, some of which have longstanding rivalries.

Jun 20 - Australian resource companies are becoming renewable energy believers: Russell
It's not quite yet a flood but Australian resource companies are increasingly embracing renewable energies into their mining and natural gas operations even in the face of a federal government that veers toward climate scepticism. Among recent developments are moves by Rio Tinto to convert its iron ore trains to hybrid power, the commissioning of a solar power plant at an oil and gas facility operated by Santos in South Australia state, and battery storage being integrated into ConocoPhillips' liquefied natural gas (LNG) plant in Darwin.

Jun 20 - Trump administration replaces Obama-era power plant rule, in boost to coal
The Trump administration finalized a new carbon emissions rule for U.S. power plants on Wednesday that it said could cut pollution without damaging the coal industry, replacing a much tougher Obama-era version to fight climate change. The move was a boost to coal companies facing tough competition from natural gas, solar and wind energy suppliers, but infuriated environmentalists and Democratic lawmakers who said the regulation was too weak to significantly reduce emissions and would put public health at risk.

Jun 20 - U.S. oil stockpiles fall across the board, crude more than expected - EIA
U.S. oil stockpiles fell across the board last week, with crude inventories dropping more than expected and refined products posting surprise drawdowns due to a rise in refining and crude exports, and drop in crude production, the Energy Information Administration said on Wednesday. Crude inventories fell 3.1 million barrels in the week to June 14, nearly thrice analysts' expectations for a decrease of 1.1 million barrels, and dropping from their highest levels since July 2017.

Jun 20 - U.S. Gulf gasoline glut sparks rare tanker voyage to Australia
A gasoline cargo is set to make a rare voyage to Australia from the U.S. Gulf Coast as swelling stockpiles have suppressed regional prices, opening up this unusual arbitrage opportunity, sources familiar with the matter said this week. Gulf Coast gasoline prices have hit their lowest seasonally since 2016 as inventories hover above the five-year average, according to U.S. Energy Information Administration data.

Jun 20 - Global economic slowdown hits oil consumption: Kemp
Global oil consumption rose last year at the slowest rate since 2014, as higher prices and broad deceleration in manufacturing activity and freight movements took their toll on fuel use and petrochemicals. Consumption is likely to rise even more slowly in 2019, given the further weakening of most manufacturing and freight indicators since the start of the year.

Jun 20 - Momentum builds for EU leaders to agree carbon neutral 2050 pledge at summit
A push by Germany, France and other EU nations for the bloc to go carbon neutral by mid-century looks likely to be endorsed by EU leaders on Thursday, despite resistance from eastern European nations worried it could cost jobs. A majority of the European Union's 28 members have signed up to the lofty target ahead of the two-day summit of EU leaders - hoping to lead by example at this year's U.N. climate talks in September abandoned by U.S. President Donald Trump. 

Jun 19 - Canada approves contentious oil pipeline expansion, expects legal challenges
Canada on Tuesday approved as expected a hotly contested proposal to expand the western Canadian crude oil pipeline it bought last year, providing hope for a depressed energy industry but angering environmental groups. Construction on the expansion of the Trans Mountain pipeline is scheduled to resume this year, Prime Minister Justin Trudeau told a news conference. 

Jun 19 - Anadarko approves $20 bln LNG export project in Mozambique
U.S. energy firm Anadarko Petroleum Corp on Tuesday gave the go-ahead for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa. The announcement, which occurred at an event in Mozambique, was widely expected after Anadarko last month flagged the decision date. 

Jun 19 - Tanker attacks seen as calibrated but risky Iranian response to U.S. sanctions
If, despite its firm denials, Iran was behind attacks on two oil tankers in the Gulf last week and a further four last month, they represent a calibrated yet risky pushback against a U.S. sanctions squeeze, regional experts say. The targeting of six vessels on a major artery for world oil supplies was a vivid reminder of the stakes involved in the standoff pitting Iran against the United States and its regional allies.

Jun 19 - OPEC still struggling with meeting dates, proposes July 1-2 -sources
OPEC has again proposed to move dates of its next meeting, now suggesting July 1-2, two sources familiar with the matter said, as Saudi Arabia, Iran and non-OPEC Russia are struggling to agree a compromise. Previous proposals included dates for a meeting of the Organization of the Petroleum Exporting Countries followed by a meeting with non-OPEC allies on June 25-26 and July 11-12.

Jun 19 - South Korea fires up on renewables, to close more coal plants
As renewable energy powers up in South Korea, coal-fired generation, long the bedrock of the country's electricity supply, is being tapped to give up room. Facing choking smog in its major cities and under pressure to meet emission reduction targets, the world's fourth-biggest coal importer is expected to accelerate targets for green energy in an updated 15-year energy plan later this year.

Jun 19 - From gas in Russia to China-bound plastics, Austria's OMV shifts focus for growth
After years of largely banking on low-cost Russia for growth, OMV is shifting attention towards the Middle East as its chemist chief executive chases his vision of making the Austrian oil and gas group a major supplier of plastics. OMV boss Rainer Seele has spent more than 4 billion euros ($4.5 billion) - 40% of the group's M&A budget until 2025 - for oil and gas concessions in the region, a 15% stake in Abu Dhabi National Oil Co's (ADNOC) refining business and a to-be-formed trading joint venture with ADNOC and Italy's Eni.

Jun 18 - Iran, Russia talks end without deal on OPEC+ meeting date
Iran's oil minister met his Russian counterpart in Iran on Monday, industry sources said, raising hopes of progress in resolving an impasse over when OPEC and its allies will hold their next policy gathering. The Organization of the Petroleum Exporting Countries and partners including Russia, an alliance known as OPEC+, have been considering since last month moving the date of their policy meeting in Vienna to July 3-4 from June 25-26.

Jun 18 - U.S. shale oil output to rise to record 8.52 mln bpd in July - EIA
U.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bpd) in July to a record 8.52 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 55,000 bpd to a fresh peak at 4.23 million bpd in July.

Jun 18 - Saudi Energy Minister calls for collective effort to secure shipping lanes
Saudi Arabian Energy Minister Khalid al-Falih said on Monday that countries need to cooperate on keeping shipping lanes open for oil and other energy supplies after last week's tanker attacks in the Middle East to ensure stable supplies. While he did not outline any concrete steps after the attacks that damaged two tankers on June 13, Falih said the kingdom would do everything necessary to ensure safe passage of energy from Saudi Arabia and its allies in the region.

Jun 18 - Hedge funds sell more oil, but balance of risks is shifting - Kemp
Hedge fund managers sold yet more oil last week as a weaker outlook for the global economy and expectations of a hit to consumption more than offset concerns about sanctions on Iran and Venezuela and other production problems. Hedge funds and other money managers were net sellers of another 96 million barrels of petroleum-related futures and options contracts in the week to June 11, exchange and regulatory data shows.

Jun 18 - Enterprise Products explores sale of Texas oil terminal stake - document
U.S. pipeline operator Enterprise Products Partners LP is looking to sell its 50% stake in a recently-completed South Texas crude export terminal, according to a marketing document viewed by Reuters. Enterprise is weighing an exit from the joint venture with terminal operator Plains All American Pipeline LP after proposing to build its own offshore port near Houston. 

Jun 18 - BofA cuts crude price outlook for second half of 2019 on faltering demand
Bank of America Merrill Lynch lowered its oil price forecasts for the second half of this year and into next year as an escalating trade war dampening the global economic outlook also translates into lower demand for oil. Brent prices  the global benchmark for oil, are now projected at $63 per barrel for the second half of 2019, down from the previous forecast of $68 a barrel.

Jun 17 - Saudi seeks oil supply protection as U.S and Iran face off
Saudi Arabia called for swift action to secure Gulf energy supplies and joined the United States in blaming Iran for attacks on two oil tankers in a vital shipping route that have raised fears of broader confrontation in the region. Thursday's tanker attacks in the Gulf of Oman exacerbated the antagonistic fallout from similar blasts in May that crippled four vessels. 

Jun 17 - Saudi Energy Minister hopes OPEC agrees to extend production cut "early July"
Saudi Energy Minister Khalid al-Falih said on Sunday that OPEC would probably meet in the first week in July in Vienna and that he hoped it would reach consensus on extending its agreement to cut oil output. Falih said earlier this month that OPEC was close to agreeing to extend the agreement beyond June, although more talks were still needed with non-OPEC countries that were part of the production deal. 

Jun 17 - Canada set to approve hotly-debated pipeline expansion, Trudeau unlikely to benefit
Canada looks set to approve a hotly-debated plan to expand an oil pipeline this week, people familiar with the process told Reuters, but the move is unlikely to help Prime Minister Justin Trudeau rebuild flagging support ahead of an October election. The Liberal government last year took the unprecedented step of buying the Trans Mountain pipeline from Kinder Morgan Canada for C$4.5 billion ($3.4 billion) to ensure the expansion went ahead to help solve crude transportation bottlenecks.

Jun 17 - Myths and reality: Adani's Australian coal mine torches rationality: Russell
Adani Enterprises' Carmichael coal mine in Australia is assuming mythical status way out of proportion to its actual significance, even before meaningful construction starts on the controversial project. For its opponents, the mine should never be built because it is not supported by a majority of Australians and aims to send coal to India, a country that says it doesn't want or need imports of the fuel.

Jun 17 - U.S. allows Iraq to import Iranian energy for three more months
The United States has allowed Iraq to import Iranian gas for its power grid for another three months by extending a waiver to sanctions - but insists that Baghdad seek alternative sources. Iraq has had several extensions to the waiver first granted last year after Washington reimposed sanctions on Tehran's oil sector forbidding countries from purchasing Iranian energy.

Jun 17 - IEA cuts 2019 estimate for oil demand growth on global trade worries
The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the International Energy Agency (IEA) said on Friday, although stimulus packages and developing countries should boost growth going into 2020. The Paris-based IEA, which coordinates the energy policies of industrial nations, revised down its 2019 demand growth estimate by 100,000 barrels to 1.2 million barrels per day (bpd), but said it would climb to 1.4 million bpd for 2020.

Jun 17 - Trump mulled plan in 2018 to scale back U.S. biofuel waivers - documents
President Donald Trump's advisers presented him with a plan last year to curtail the administration's use of small refinery waivers under the nation's biofuel law - a key demand of the powerful U.S. corn lobby, according to documents made public by the Environmental Protection Agency. While the June 2018 plan was ultimately rejected, the fact it reached the president's desk shows that Trump's advisers believed at the time he had the ability to adjust the controversial waiver program, even as his EPA defended the expanded use of the exemptions by citing legal requirement.

Jun 14 - U.S. blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion 
The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices and raised concerns about a new U.S.-Iranian confrontation, but Tehran bluntly denied the allegation. It was not immediately clear what befell the Norwegian-owned Front Altair or the Japanese-owned Kokuka Courageous, which both experienced explosions, forcing crews to abandon ship and leave the vessels adrift in waters between Gulf Arab states and Iran.

Jun 14 - OPEC, Russia nearing accord on long term oil supply coordination - Nikkei 
OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan's Nikkei reported, citing Russian energy minister Alexander Novak. Novak also told the Nikkei that discussions with OPEC on moving the date of the meeting to early July from the originally-planned dates of June 25-26 were nearly finalised.

Jun 14 - Business and pleasure: how Russian oil giant Rosneft uses its corporate jets 
Jets used for corporate travel by Russian state-owned oil major Rosneft flew at least 13 times to Mallorca, Ibiza, Sardinia and the Maldives when CEO Igor Sechin or people from his social circle were in the same vacation spots. Using publicly available data, Reuters tracked 290 Rosneft flights between January, 2015 and May, 2019. Of those round trips, 96 took place during Russian public holidays or between Friday lunchtime in Moscow and Monday morning.

Jun 14 - OPEC cuts oil demand outlook, building case to keep supply curbs 
OPEC has cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for prolonged supply restraint in the rest of 2019. The producer group and its allies meet in the coming weeks to decide whether to maintain supply curbs. Some members are worried about a steep slide in prices, despite demands from U.S. President Donald Trump for action to lower the cost of oil.

Jun 14 - As Iran nuclear deal flounders, France turns to Saudi for oil 
Over the past year, France has led a European push to keep trade with Iran alive after the United States tore up the nuclear deal with Tehran and re-imposed sanctions. But over the same period, data shows France has cut purchases of Iranian oil and sharply increased imports from Iran's arch-enemy Saudi Arabia. In recent weeks, France has used its energy needs to justify a surge in arms sales to the kingdom, even if there is no evidence the 50 percent increase in Saudi purchases of French arms last year was conditional on France buying Saudi oil.

Jun 14 - Norway wealth fund must ditch ConocoPhillips after index review 
Norway's wealth fund will have to divest its holdings in ConocoPhillips and Hess after both U.S. oil companies were added to a list which effectively excludes them from the Nordic country's portfolio. As part of Norway's efforts to shift its $1 trillion "rainy day" fund away from oil, the country's parliament on Wednesday adopted a plan to drop all dedicated oil and gas explorers and producers, as defined by stock market indices provider FTSE Russell, from the fund's benchmark index. 

Jun 14 - Having a gas: Australia dominates China's LNG supply 
Australia's fast-expanding liquefied natural gas industry has this year been supplying the lion's share of China's growing demand for imports of the commodity, with appetite surging as Beijing shifts away from dirtier fuels such as coal. Australia supplied over 53% of China's LNG imports during the first five months of 2019, shipping data in Refinitiv showed, up from around 40% in 2016 when a previous round of new Australian export projects started to ramp up.

Jun 13 - Algeria floats idea of larger OPEC+ oil cut, rollover still likely - sources 
Algeria has floated an idea of increasing an oil supply cut by OPEC and its allies in the second half of 2019 as demand falters, OPEC sources said, although rolling over current output curbs is still the most likely scenario. Oil has tumbled from a 2019 peak above $75 a barrel in April to $61 a barrel now on concerns about weakening demand due to a U.S.-China trade dispute and an economic slowdown, raising alarm among some oil exporters.

Jun 13 - Trump considering sanctions over Russia's Nord Stream 2 natgas pipeline 
President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project -- which the United States has told European companies to avoid -- and warned Germany against being dependent on Russia for the fuel. "We're protecting Germany from Russia and Russia is getting billions and billions of dollars from Germany," Trump told reporters at an appearance with Polish President Andrzej Duda at the White House.

Jun 13 - Oil demand growth grinding to lowest in years as global economy stalls 
World oil markets have undergone a U-turn, switching from supply-side risks like OPEC's production cuts or U.S. sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption amid fears of a global recession. As a result, crude oil prices have turned a 45% price rally in the first four months of the year into a slump of more than 15% since late April.  

Jun 13 - U.S. crude stockpiles rise unexpectedly for second week - EIA 
U.S. crude oil stockpiles rose unexpectedly for a second straight week, despite the highest refining rates in six months and lower imports and production, the Energy Information Administration said on Wednesday. Gasoline inventories increased last week in line with forecasts, while distillates posted an unexpected drawdown, the statistical arm of the EIA said.

Jun 13 - Glencore puts Chad oilfields up for sale - sources 
Mining and trading giant Glencore has put its oilfields in Chad up for sale, three sources familiar with the matter said, in a retreat from its foray into oil production following asset writedowns over the past decade. Like its oil trading peers, Glencore expanded in the upstream sector around a decade ago in order to secure oil flows, but the value of the assets tumbled with the oil price slump in late 2014.

Jun 13 - India's Adani wins green light for long delayed Australian coal mine 
India's Adani Enterprises on Thursday received the go-ahead to start construction of a controversial coal mine in outback Australia, after a state government approved a final permit on ground water management. The Carmichael mine has been a lighting rod for climate change concerns in Australia, and was seen as a factor in the surprise return to power of the conservative Liberal/National coalition in a national election in May. 

Jun 13 - Canada gov't rejects effort to ease review of major energy and transport projects 
Canada's Liberal government is pressing ahead with a bill that would impose more stringent reviews on major projects like pipelines and interprovincial highways, to the dismay of the nation's main crude-producing province and the energy industry. The government late on Tuesday rejected most of the amendments proposed by Conservative senators to dilute the bill, saying the changes ignored environmental concerns.

Jun 12 - Iran scrambles to lift petrochemical sales as sanctions hammer oil 
Iran has been racing to step up exports of petrochemicals and tap new markets to compensate for sliding oil sales, Iranian and international industry sources said, but now risks losing that crucial revenue as Washington tightens the screw on sanctions. Tehran has been selling increased volumes of petrochemical products at below market rates, in countries including Brazil, China and India, since the United States reimposed sanctions on Iranian oil exports in November, according to the six sources who include two senior Iranian government officials.

Jun 12 - OPEC nears deal to keep production curbs in place - UAE energy minister 
Members of the Organization of the Petroleum Exporting Countries are close to reaching an agreement on extending production cuts, the energy minister of the United Arab Emirates said on Tuesday. Speaking at the International Economic Forum of the Americas, Energy Minister Suhail bin Mohammed al-Mazroui said that given existing oil inventories the output curbs should remain in place or be extended "at least until the end of the year."

Jun 12 - BP raises Saudi oil reserves 12% in first big change in 30 years 
BP has raised estimates for Saudi Arabia's crude oil reserves by 12%, marking the first major change to the country's estimated reserves since 1989. In its benchmark 2019 Statistical Review of World Energy, BP recalibrated some Saudi gas reserves as oil, allowing Riyadh to close in on Venezuela's top spot as the world's largest reserves holder.

Jun 12 - U.S. oil output to rise less in 2019 than previously expected - EIA 
U.S. crude oil production will rise 1.36 million barrels per day to 12.32 million bpd in 2019, 140,000 bpd less than previously forecast, according to a monthly Energy Department report on Tuesday. In 2020, U.S. crude production is expected to rise 94,000 bpd, 1,000 bpd more than previously forecast, the report from the EIA, the statistical arm of the Energy Department, said.

Jun 12 - Coal price slump in Asia even as demand grows shows supply is the issue: Russell 
Whenever coal prices decline it's tempting for those opposed to the polluting fuel to think that demand is falling amid a move to cleaner renewable energies, but in the current cycle it appears oversupply is the main culprit. Coal prices in Asia, especially the benchmark thermal grade at Australia's Newcastle Port, have come under pressure in recent weeks, even as coal exports have actually been rising.

Jun 12 - Trafigura profit leaps as oil and gas trading offsets losses at associates 
Trading house Trafigura's six-month net profit jumped by 92% after strong performance from its oil and gas desks helped to offset weakness at the metals division and losses at key associates. The company attributed the profit leap to favourable market conditions, strong U.S. oil exports and its own oil desk's restructuring.

Jun 12 - Hedge funds sell oil as economic fears intensify: Kemp 
Hedge fund managers are liquidating bullish oil positions at the fastest rate since the fourth quarter of 2018 amid increasing fears about the health of the global economy. Hedge funds and other money managers were net sellers of 104 million barrels of futures and options linked to the six most important petroleum contracts in the week to June 4.

Jun 11 - Russia says still a risk of excessive oil output, sharp price fall 
There is a still a risk that oil producers pump out too much crude and prices fall sharply, Russia's energy minister said on Monday, suggesting Moscow might support an extension of output cuts at a meeting of leading oil producing countries next month. The Organization of the Petroleum Exporting Countries and some non-members including Russia, known collectively as OPEC+, have curbed supplies since January to prop up prices.

Jun 11 - China's oil import slump is more than just the loss of Iranian crude: Russell 
China's imports of crude oil stumbled in May, and while the loss of Iranian cargoes offers a convenient explanation, there are other reasons to be cautious over the strength of demand in the world's biggest oil importer. China brought in 9.47 million barrels per day (bpd) in May, a drop of 11% from April's record 10.64 million bpd, according to calculations based on customs figures released on Monday. 

Jun 11 - Compensation for tainted Russian oil to be decided company by company - official 
Compensation for the tainted Russian oil supplied to Europe earlier this year via the Druzhba pipeline and in cargoes will be decided company by company, Russia's Deputy Energy Minister Pavel Sorokin told Reuters. Russia halted some oil supplies in April after excessive levels of organic chloride were found in the million barrel-per-day Druzhba pipeline that crosses Belarus and serves customers as far west as Germany.

Jun 11 - New marine fuel rules to boost diesel prices for at least a year - analysts 
Global prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said. Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.5% currently used, to power ocean-going vessels will be required for ships without exhaust scrubbers on Jan. 1, under the International Maritime Organization (IMO) 2020 standard.

Jun 11 - U.S. senators target $1 bln a year coal subsidy, ask IRS for test results 
Three U.S. senators on Monday urged the Internal Revenue Service to crack down on a $1 billion-a-year subsidy for burning chemically treated refined coal, after a new study showed some power plants using the fuel produced surging amounts of mercury and smog instead of cutting pollution. Scrutiny from Rhode Island's Sheldon Whitehouse, as well as fellow U.S. Senate Democrats Elizabeth Warren of Massachusetts and Sherrod Brown of Ohio, comes after a Reuters special report in December revealed that many power plants burning refined coal pumped out more smog, not less.  

Jun 11 - U.S. refiner group sues Trump EPA over high-ethanol gasoline 
The main U.S. refining industry association said on Monday it sued to block the Trump administration's effort to expand sales of higher ethanol blends of gasoline, arguing the move exceeded the administration's authority. The legal challenge from the American Fuel and Petrochemical Manufacturers (AFPM) association escalated a battle between the oil and corn industries over the nation's biofuel policy, which requires refiners to blend biofuels like corn-based ethanol into their gasoline, often at great expense.

Jun 10 - China May crude oil imports drop after April record 
China's crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world's top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. China's crude imports dropped to 40.23 million tonnes in May from 43.73 million tonnes in April, General Administration of Customs data showed on Monday.

Jun 10 - Iran has no plans to leave OPEC despite tensions - oil minister 
Iran has no plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published on Saturday. “Iran has no plans to leave OPEC...and regrets that some members of OPEC have turned this organization into a political forum for confronting two founding members of OPEC, meaning Iran and Venezuela,” Zanganeh told the Iranian parliament news site ICANA.

Jun 10 - Canadian oil pipeline congestion sets up lucrative storage play 
Upheavals in the Canadian crude market are providing unique opportunities for firms with sizeable long-term leases on Alberta storage tanks, a cluster that sources say includes Mercuria Energy Group and oil major BP Plc's trading arm. Canada holds the world's third-largest crude reserves, but years of delay in building new pipelines has led to oil production outpacing takeaway capacity. A glut of crude has thus been created, increasing demand for storage tanks in the oil sands province of Alberta, which this year introduced production cuts to deal with the oversupply.

Jun 10 - Poland confirms partial resumption of clean oil supply from Russia 
Polish pipeline operator PERN confirmed that clean oil supplies from Russia had been partially restored on Sunday after Russia's oil export flows to Europe were disrupted in April because of contamination. Belarus state energy company Belneftekhim earlier said that it had partially resumed oil transit towards Poland and that its daily Western-bound transit plan for June was 65,000 tonnes. 

Jun 10 - Aging Enbridge oil pipelines face setbacks over fears of Great Lakes spills 
Fears about oil spills into the Great Lakes from two aging U.S. pipelines have flared, raising doubts about their future and creating fresh headaches for operator Enbridge Inc and the Canadian energy sector. Canada has faced years of delay in getting new oil pipelines built because of environmental opposition, resulting in severe congestion in Alberta, the country's main crude-producing province, that forced the provincial government to impose production cuts this year. Pipelines face increasing scrutiny from environmental groups worried about leaks, and U.S. Great Lakes states are taking a hard look at the risks.

Jun 10 - Greenpeace activists halt BP's North Sea oil rig 
Greenpeace activists said on Sunday they halted the progress of an oil rig destined for BP Plc's North Sea exploration programme off the coast of Scotland. The activists demanded that one of the world's biggest energy companies immediately end drilling new wells and invest only in renewable energy or shut its operations and return cash to investors.

Jun 10 - Challenges slow Mexico's billion-dollar oil hedge this year - sources 
The world's biggest and most secretive financial oil trade is facing unusual roadblocks this year. Mexico typically buys as much as $1 billion worth of financial positions to protect its revenues from oil sales for the coming year against price fluctuation. It is the most widely anticipated hedging deal in oil markets, and can make or break an investment bank's dealbook.

Jun 10 - Hedge funds cut bullish crude bets in week - CFTC 
Hedge funds and other money managers cut their net long U.S. crude positions as prices plunged, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group cut its combined futures and options position in New York and London by 13,196 contracts to 198,884 during the week to June 4.

Jun 07 - Putin says Russia disagrees with OPEC on fair oil price 
President Vladimir Putin said on Thursday Russia had differences with OPEC over what constituted a fair price for oil, but that Moscow would take a joint decision on output with OPEC colleagues at a policy meeting in the coming weeks. Putin's comments have set a stage for tough talks between Russia and its partners over their policy on the global oil market, which are expected to take place within a month.

Jun 07 - Russia's Sechin accuses U.S. of using energy as political weapon 
Igor Sechin, CEO of Russian oil giant Rosneft, accused the United States of using energy as a political weapon and said on Thursday that the U.S. golden age of energy had become an "era of energy colonialism" for other countries. Speaking at an economic forum in St Petersburg, Sechin said a third of global oil reserves were restricted by U.S. sanctions on Iran and Venezuela and that Washington was losing moral ground as a self-styled leader of open markets.

Jun 07 - As Permian oil production turns lighter, price outlook darkens 
The United States may now be the world's biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners or for exports, eroding prices for these orphan barrels. Over the past year, production from the Permian in West Texas and New Mexico has changed, with more super-light oil being extracted, as producers focus drilling in the western part of the basin. 

Jun 07 - Fitch downgrades Pemex debt to 'junk' in fresh blow to Mexico 
Fitch on Thursday became the first major ratings agency to downgrade the debt of Mexican oil company Pemex to "junk" status, in a major setback for President Andres Manuel Lopez Obrador's plans to revive the struggling state-run firm. Fitch changed Pemex's credit rating from investment grade to speculative grade, or "junk", with a negative outlook, a day after it downgraded Mexico's sovereign debt, a decision criticized by the Mexican finance ministry.

Jun 07 - U.S. tightens Venezuela oil sanctions, indicates more actions to come 
The U.S. Treasury Department on Thursday tightened its pressure on Venezuela's state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. The change, announced on the Treasury Department's website, is the latest U.S. measure aimed at pressuring Venezuelan President Nicolas Maduro by limiting access to oil export revenue from PDVSA.

Jun 07 - UAE says 'sophisticated' tanker attacks likely the work of a state actor 
The United Arab Emirates told United Nations Security Council members on Thursday that attacks on four tankers off its coast on May 12 bore the hallmarks of a "sophisticated and coordinated operation," most likely by a state actor. In a document on the briefing to Security Council members, the UAE, joined by Norway and Saudi Arabia, did not say who it believed was behind the attacks and did not mention Iran, which has been accused by the United States of being directly responsible.

Jun 07 - Petrobras, Brazil government dodge bullet as Supreme Court approves asset sales 
Brazil's Supreme Court ruled on Thursday that state-run firms do not need congressional approval to sell their subsidiaries, a major victory for the government of President Jair Bolsonaro and state-run oil firm Petrobras. Also on Thursday, Supreme Court Justice Edson Fachin, who ruled in May to suspend the $8.6 billion sale of Petrobras' TAG pipeline unit to France's Engie SA, reversed his decision in light of the full court's ruling, allowing Petroleo Brasileiro SA, as the firm is formally known, to go ahead with the divestment.

Jun 06 - U.S. refiners warn Trump: Mexico tariffs could result in higher fuel prices 
U.S. refiners warned the Trump administration that tariffs on imports from Mexico could deliver a punishing blow to refiners and raise the cost of gasoline just as the U.S. driving season kicks into high gear, according to sources familiar with the discussions. Trump surprised Mexico last week with a threat to impose 5% tariffs on all its exports to the United States unless the Mexican government took measures to stem the flow of illegal immigrants into the United States.

Jun 06 - U.S. crude stocks surge unexpectedly as oil builds across the board - EIA 
U.S. crude stockpiles posted another unexpected build last week, sending oil prices 4% lower, while gasoline and distillate inventories grew more than forecast, the Energy Information Administration said on Wednesday. Crude inventories rose 6.8 million barrels in the week to May 31, compared with analyst expectations for a decrease of 849,000 barrels, mainly due to a jump in imports, record high production and sluggish refining rates for summer.

Jun 06 - Shunned by China, U.S. crude exports surge to the rest of Asia: Russell  
U.S. crude producers may have lost the fast-growing China market because of President Donald Trump's trade dispute, but they have more than compensated by making inroads into the rest of top oil-consuming region Asia. While crude is currently excluded from the tariffs Beijing has imposed on U.S. goods, Chinese refiners have steered clear of U.S. oil, with only two cargoes totalling 3.87 million barrels arriving in the first five months of 2019, according to vessel-tracking and port data compiled by Refinitiv.

Jun 06 - Oil output at Kazakhstan's Kashagan hits record of 400,000 bpd - sources 
Oil output at Kazakhstan's Kashagan field reached an all-time high of 400,000 barrels per day (bpd) on Tuesday, three sources familiar with daily production data told Reuters. Oil production on Kashagan might rise further to 410,000 bpd in coming months, two industry sources familiar with the development plan said.

Jun 06 - Global climate goal measures an 'enormous challenge', says Equinor
Oil demand needs to halve, gas use must drop by 10% and coal use nees to be all but eradicated by 2050 to achieve the goals of the Paris agreement to limit global warming, oil company Equinor said in its energy outlook on Thursday. Equinor's so-called Renewable energy scenario consistent with the Paris pact's goal of limiting warming to less than 2 degrees Celsius requires cumulative CO2 emissions at a little more than 770 gigatonnes (Gt) between 2017 and 2050.

Jun 05 - Iran sets scene for tough OPEC meeting, opposes date change 
Iran has told OPEC that it opposes delaying the oil producer group's next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just a trickle. OPEC gatherings are often fraught due to acrimony between Iran and its arch-rival Saudi Arabia, the group's de facto leader and top global oil exporter.

Jun 05 - Russia's oil output falls to 3-year low due to contamination crisis 
Russia's average daily oil output has dropped to a three year-low after contaminated crude clogged its main export route. Average oil output was 10.87 million barrels per day (bpd) on June 1-3, down from an average of 11.11 million bpd in May, two sources familiar with official data said on Tuesday.

Jun 05 - Norsk Hydro Q1 core profit plunges after cyber attack 
Aluminium-maker Norsk Hydro, the victim of a cyber attack in March that paralysed its IT systems, posted an 82% drop in first-quarter core profits on Wednesday and said global market uncertainty could impact its markets. The Norwegian company's underlying operating result fell to 559 million Norwegian crowns ($64.3 million) from 3.15 billion crowns a year ago, while analysts in a Reuters poll on average had expected a profit of 123 million crowns.

Jun 05 - Lower oil prices start to rebalance the market: Kemp  
Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019. U.S. crude production rose 241,000 barrels per day (bpd) to 11.905 million bpd in March from February, according to the U.S. Energy Information Administration (“Petroleum Supply Monthly”, EIA, May 2019).

Jun 05 - Commodity firms push to meet new Papua New Guinea PM as he sets out agenda 
Commodity companies are pushing to meet Papua New Guinea's new prime minister, who is set to deliver a nationwide address on Wednesday as he starts to overhaul the way the gas-rich country manages its vast natural resources. James Marape's speech is due to be broadcast around 6 p.m. local time (0800 GMT), just as thousands around the rugby league-loving nation gather at their televisions ahead of the State of Origin match, a big derby in Australia. 

Jun 05 - Venezuela's oil exports drop 17% in May as sanctions kick in - data 
Venezuelan PDVSA's oil exports took another hit in May, following a deadline for customers to wind-down purchases in order to comply with U.S. sanctions, according to documents from the state-run company and Refinitiv Eikon data. The energy firm's exports of crude and refined products fell 17% in May from the previous month to 874,500 barrels per day (bpd), mainly due to difficulty in selling off barrels of upgraded crude that used to be bought by U.S. refiners.

Jun 05 - Biden unveils $1.7 trillion climate plan to end U.S. carbon emissions by 2050 
Joe Biden, the front-runner for the Democratic 2020 presidential nomination, released a climate change plan on Tuesday that would pour $1.7 trillion of investment into achieving 100% clean energy and net-zero emissions by 2050, in part using revenues from reversing Trump administration corporate tax cuts. The former vice president unveiled the plan after weeks of pressure from rivals and green activists who said he was not taking global warming seriously enough and would rely too heavily on Obama-era ideas.

Jun 04 - Saudi's Falih says OPEC+ consensus emerging on output deal in second half 
Saudi Energy Minister Khalid al-Falih said consensus was emerging among the OPEC+ group of oil producers to continue working towards oil market stability in the second half of the year, the Saudi-owned Arab News newspaper reported on Monday. Oil prices in May sustained their worst monthly fall in six months on worries that trade disputes would hit demand for crude.

Jun 04 - Oil, gas and coal markets pummelled by economic slowdown
Energy markets are being battered by spreading concerns that an economic slowdown will hit consumption of oil, natural gas and coal. Oil, the world's most used fuel, has seen prices fall by 20% from their 2019 peak in late April, with Brent crude oil futures threatening to fall below $60 per barrel for the first time since January. 

Jun 04 - U.S. court rejects environmental assessment for Enbridge pipeline in blow to Canadian oil sector
A Minnesota court ruled on Monday that Enbridge Inc's environmental impact statement for the replacement of its Line 3 oil pipeline is inadequate, raising the possibility of further delays. The Line 3 project would double current capacity to 760,000 barrels per day of Canadian crude from Alberta to Wisconsin, providing much-needed relief from congestion on existing Canadian pipelines.

Jun 04 - Glencore's head of oil, Alex Beard, retires amid U.S. probes 
Glencore's head of oil, Alex Beard, who helped make the firm one of the world's top three oil trading houses, will retire this month, the company said on Monday in yet another management shake-up amid U.S. probes into its activities. Glencore, founded by trader Marc Rich, has come under U.S. scrutiny in the past year over its business in the Democratic Republic of Congo, where it produces cobalt and copper, and in Venezuela and Nigeria, where it trades oil and refined products.

Jun 04 - Compensation for Russian dirty oil to be decided by buyers and sellers 
Compensation for the contamination of Russian oil in the Druzhba pipeline should be agreed between the buyers and sellers of this oil, Russia's Deputy Energy Minister Pavel Sorokin told reporters on Monday. Russian officials and oil suppliers met European buyers in Moscow on Monday to discuss the incident, in which several million tonnes of oil were found contaminated with high levels of organic chloride. That has disrupted deliveries to Belarus, Germany, Poland, Ukraine and other countries since April.

Jun 03 - Iran warns any clash in the Gulf would push oil prices above $100 
U.S. military vessels in the Gulf are within range of Iranian missiles, a top military aide to Iran’s Supreme Leader Ayatollah Ali Khamenei said on Sunday, warning any clash between the two countries would push oil prices above $100 a barrel. Iran and the United States have been drawn into starker confrontation in the past month, a year after Washington pulled out of a deal between Iran and global powers to curb Tehran’s nuclear programme in return for lifting international sanctions.

Jun 03 - Saudi Arabia raises July crude oil prices to Asia 
Saudi Aramco has raised its July price for its Arab Light grade for Asian customers by $0.60 a barrel versus June to a premium of $2.70 per barrel to the Oman/Dubai average, the state oil company said on Sunday. It cut its July Arab Light OSP for Northwest Europe, setting it at a discount of $1.10 a barrel to ICE Brent, down $1.10 a barrel from June.

Jun 03 - Russia's May oil output hits 11-month low on dirty oil crisis 
Russian oil output fell to 11.11 million barrels per day (bpd) in May, its lowest level since June 2018, from 11.23 million bpd in April, Energy Ministry data showed on Sunday. The production fall resulted mainly from the closure due to oil contamination of Russia's Druzhba pipeline, which usually ships 1 million bpd, or 1 percent of global oil demand.

Jun 03 - U.S. crude output rises 2.1% in March to near record high - EIA
U.S. crude oil production rose 241,000 barrels per day (bpd), or 2.1%, in March to 11.905 million bpd, just below its record high, the Energy Information Administration (EIA) said on Friday. The monthly increase in U.S. oil production from a revised 11.664 million bpd in February followed two months of declines in January and February, the statistical arm of the Department of Energy said in its monthly 914 production report.

Jun 03 - Oil loses lustre as banks cash in on cleaner commodities 
Investment banks are beefing up trading teams in markets such as gas, metals and carbon permits that are flourishing as businesses and economies become greener, according to recruitment consultants. The shift in staffing at the world's biggest investment banks comes at the expense of oil, which has fallen out of favour after being the most profitable and best-staffed commodities business for years.

Jun 03 - Trump's Mexican tariffs could hit U.S. refiners, add to fuel costs 
U.S. President Donald Trump's threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world's biggest buyer of U.S. energy products. Mexico sends 600,000 to 700,000 barrels of oil to the United States every day, mostly to refiners that process that crude into gasoline, diesel and other products.

Jun 03 - U.S. drillers cut oil rigs for sixth straight month - Baker Hughes 
U.S. energy firms this week increased the number of oil rigs operating for the first time in four weeks but cut the rig count for the sixth straight month as most drillers cut spending plans. Companies added three oil rigs in the week to May 31, bringing the total count to 800, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.  

Jun 03 - Hedge funds cut bullish crude oil bets last week - CFTC
Hedge funds and other money managers cut their net long U.S. crude futures and options positions in the week to May 28, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group cut its combined futures and options position in New York and London by 38,030 contracts to 212,080 during the period.

Jun 03 - Trump lifts curbs on E15 gasoline to help farmers, angering Big Oil 
The Trump administration on Friday lifted restrictions on the sale of higher ethanol blends of gasoline, keeping a campaign promise to farmers suffering from the trade war with China but drawing a legal threat from the oil industry. The announcement will allow gasoline stations to sell blends containing up to 15 percent corn-based ethanol, called E15, year-round, ending a summertime ban that President Barack Obama's Environmental Protection Agency imposed in 2011 to reduce smog pollution.

May 31 - Trump's sanctions hit OPEC oil output despite Saudi boost - survey 
Top oil exporter Saudi Arabia has raised production in May, a Reuters survey found, but not by enough to compensate for lower Iranian exports which collapsed after the United States tightened the screw on Tehran. The 14-member Organization of the Petroleum Exporting Countries pumped 30.17 million barrels per day (bpd) in May, the survey showed, down 60,000 bpd from April and the lowest OPEC total since 2015, the Reuters survey showed.

May 31 - Burning tyres: the murky oil business polluting parts of Asia 
When local investigators scoured a riverbed in southern Malaysia for clues in a chemical dumping case that hospitalised over one thousand people earlier this year, they found a cocktail of toxins, including a colourless liquid commonly secreted when tyres are recycled. That led environment officials and police to a small firm called P Tech Resources involved in pyrolysis - a business of burning old tyres to make low-grade oil that industry sources say is also common elsewhere in Southeast Asia, China and India.

May 31 - U.S. says countries buying Iranian oil will be subject to sanctions
The United States will sanction any country which buys oil from Iran after the expiration of waivers on May 2, U.S. Special Representative for Iran Brian Hook said on Thursday. Sanctions would be imposed "even if a country had not met its previously-negotiated purchase caps," Hook said in a statement. "Our firm policy is to completely zero out purchases of Iranian oil. Period."

May 31 - Loss of Iranian crude, China product exports hurt Asian refiners: Russell 
As the first month of theoretically no Iranian crude oil exports comes to a close it seems that Asian refiners have been able to cope with the loss of supplies, but it has come at the expense of their profits. The United States didn't renew the waivers granted to eight importers of Iranian crude, which expired at the beginning of May, and the administration of President Donald Trump has been clear in saying it intends to stop all shipments from Iran.

May 31 - U.S. vows first oil lease sale in Alaska Arctic refuge this year 
The U.S. Interior Department is determined to sell oil leases for the first time this year in the ecologically sensitive but presumably petroleum-rich coastal plain of Alaska's Arctic National Wildlife Refuge, a Trump administration official said on Thursday. “That lease sale will happen in 2019,” Joe Balash, the assistant interior secretary for lands and minerals management, told an oil industry conference in Anchorage.

May 31 - Russia disputes volume of tainted oil in Europe - newspaper 
Contaminated Russian oil volumes sent to Europe are much smaller than claimed by Belarus and Poland, Russia's pipeline monopoly said on Thursday, in the latest twist in the country's worst oil export crisis. Some 3 million tonnes of oil was contaminated with organic chloride, not the 5 million estimated by Belarus which transits Russian oil to Poland, Sergei Andronov, vice-president of pipeline firm Transneft, told the Kommersant newspaper.

May 31 - U.S. crude stockpiles fall less than expected, gasoline builds sharply - EIA
U.S. crude oil stockpiles fell less than expected last week, while gasoline stocks posted a hefty surprise build ahead of the Memorial Day long weekend as refiners boosted their rates to the highest in five months, the Energy Information Administration said on Thursday. Crude inventories fell 282,000 barrels in the week to May 24, compared with analysts' expectations for an decrease of 857,000 barrels and the industry group the American Petroleum Institute report of a 5.3 million-barrel draw.

May 30 - Saudi Arabia expected to hike crude prices to Asia in July for 3rd mth - sources 
Top oil exporter Saudi Arabia is expected to raise prices for all crude grades it sells to Asia in July for a third straight month after Middle East crude benchmarks jumped, trade sources said on Thursday. The producer is likely to increase the official selling price (OSP) for flagship Arab Light crude by up to $1 a barrel to the highest since January 2014, a Reuters survey of four sources at refineries showed.

May 30 - Exxon shareholders reject resolutions on climate and separating CEO-chairman 
Exxon Mobil Corp shareholders on Wednesday rejected a proposal to split the chief executive officer and board chairman roles that some had promoted to protest a decision to strike an unrelated climate change resolution from the ballot. Two institutional shareholders had urged a vote in favor of the role split after Exxon got the U.S. Securities and Exchange Commission to strike a climate change measure from its ballot.

May 30 - Azerbaijan sees OPEC+ meeting in July, would agree to extension 
Azerbaijan would agree to a possible extension of the global output reduction pact between the Organisation of Petroleum Exporting Countries (OPEC) and other oil exporters, Azeri Energy Minister Parviz Shahbazov told Reuters on Thursday. Shahbazov said he expected the group to convene in the beginning of July in Vienna to discuss further actions.

May 30 - Transneft on the defensive as Russia says won't fund oil clean-up 
More than a month into the biggest crisis to hit Russia's Druzhba ("Friendship") pipeline, operator Transneft and the government are at odds over who should pay to clean up the contamination that halted flows. Buyers are keen to know who will resolve the impasse, which has seen five million tonnes of oil contaminated with high levels of organic chloride disrupt deliveries to Belarus, Germany, Poland, Ukraine and a number of central European countries.

May 30 - Global economic slowdown hits diesel consumption: Kemp 
Global manufacturing and trade volumes have been decelerating since the third quarter of 2018 and the slowdown is starting to show up in sluggish consumption of middle distillates such as gasoil and diesel. Global manufacturers have reported falling export orders for eight months since September, according to the new export orders component of the JP Morgan global purchasing managers’ index.

May 30 - Oil producer Canadian Natural doubles down on Canada in $2.8 bln deal with Devon 
Oil and gas producer Canadian Natural Resources Ltd said on Wednesday it would buy the Canadian assets of U.S.-based Devon Energy Corp for C$3.8 billion ($2.81 billion) in cash, investing further in Canada's struggling energy sector as some rivals divest. Shares of Canadian Natural rose the most in nearly two months as investors who have been otherwise skeptical of Canada's oil sector saw a good fit.

May 29 - Russia to consider extension of oil output cut deal with OPEC - deputy PM
Russia will consider a possible extension of its oil output reduction agreement with the Organization of the Petroleum Exporting Countries (OPEC) and other producers, Russian First Deputy Prime Minister Anton Siluanov told Reuters on Wednesday. "There are many economic issues and strategic issues (related to this)," Siluanov said on the sidelines of a conference in Kazakhstan. "We will look into this."

May 29 - Midwest flooding disrupts U.S. crude, fuel cash markets 
Unexpected pipeline outages and refinery shutdowns over the past week - in part caused by bad weather in the U.S. Midwest - has roiled cash markets for both crude oil and refined products, traders said on Tuesday. Volatile trading was seen both in crude markets in the Cushing, Oklahoma hub and for gasoline and diesel traded in the Tulsa, Oklahoma region.

May 29 - Washington warns Hong Kong to watch for vessel carrying Iranian oil 
The United States has warned Hong Kong to be on alert for a vessel carrying Iranian petroleum that may seek to stop in the Asia financial hub, and said that any entity providing services to the vessel will be violating U.S. sanctions. The news comes nearly a month after U.S. President Donald Trump’s administration stepped up moves to choke off Iran’s oil exports by scrapping waivers it had granted to big buyers of Iranian crude oil, including China.

May 29 - In bold anti-graft push, Mexico sets sights on ex-president's confidant
Mexican President Andres Manuel Lopez Obrador made his boldest move yet to root out entrenched corruption by going after one of his predecessor's closest aides, a former chief of state oil firm Pemex, for alleged bribery, tax fraud and other crimes. The target, Emilio Lozoya, headed Pemex from 2012 to 2016 and ran former president Enrique Pena Nieto's election campaign.

May 29 - Occidental to sell parts of Anadarko after debt-fueled acquisition 
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled its debt - to $40 billion - at a time when investors are calling for spending cuts and higher dividends.

May 29 - Hedge funds bang defensive drum on oil: Kemp
Hedge funds liquidated more of their bullish petroleum positions as concerns about the health of the global economy and oil usage outweighed European and Middle Eastern supply disruptions. But selling in the most recent week was notably lighter than in the three previous, suggesting at least some managers think prices have pulled back enough for the time being.

May 28 - "It's time to tell our story" - Australia's LNG industry finally fights: Russell
It's taken a while but Australia's liquefied natural gas (LNG) industry is putting on the gloves and stepping into the ring against the activists who want to condemn it and all fossil fuels to history's dustbin. The central theme of virtually every speech on the opening day of the annual Australian Petroleum Production and Exploration Association (APPEA) conference was that the industry has to fight its corner and not allow environmentalists all the space in the fight for the hearts and minds of the populace.

May 28 - Russia's oil production continues to fall after Druzhba contamination - sources
Russia's oil production continued to fall this month, two industry sources told Reuters on Monday, under pressure from lower exports after shipments via the Druzhba pipeline to Europe were found to be contaminated in April. Five million tonnes of oil were contaminated last month with organic chloride and some of the dirty crude is still stuck in pipelines in Belarus and eastern Europe.

May 28 - Kuwait oil minister sees balanced oil market towards end 2019
The oil market is expected to be in balance towards the end of 2019, as global inventories fall and demand remains strong, but OPEC's job is not done yet, Kuwait's oil minister told Reuters. There are still uncertainties around oil demand growth due to concerns about the impact of the U.S./China trade dispute on global economy, while U.S. shale oil production is still rising, Khaled al-Fadhel said on Monday.

May 28 - IEA rings alarm bell on phasing out nuclear energy 
A steep decline in nuclear energy capacity will threaten climate goals and power supply security unless advanced economies find a way to extend the lifespan of their reactors, the International Energy Agency said. Nuclear is currently the world's second-largest source of low-carbon electricity, behind hydropower, and accounting for 10 percent of global electricity generation. But nuclear fleets in the United States and Europe are on average more than 35 years old and many of the world's 452 reactors are set to close as cheap gas and tighter safety requirements make it uneconomical to operate them.

May 28 - Algeria to seek "good compromise" over Total's Anadarko deal - minister
Algeria's energy minister said on Monday he would seek a "good compromise" when asked about his earlier comments that Algiers would block a plan by France's Total to buy Anadarko's Algerian assets. Occidental Petroleum agreed to sell Anadarko Petroleum Corporation's assets in Algeria, Ghana, Mozambique and South Africa to Total for $8.8 billion if the U.S. oil company succeeds in completing its plan to take over of Anadarko.

May 27 - SK Innovation replaces Iranian condensate with crudes from Russia, elsewhere 
SK Innovation, owner of South Korea's top refiner SK Energy and petrochemical maker SK Incheon Petrochem, has been replacing Iranian condensate with crude oil from other countries including Qatar and Russia, a top official said on Monday. "The share of Iranian condensate was high, but that has been replaced with crude oil from Russia, Kazakhstan and Qatar and we also have been diversifying our crude sources," Choi Nam-kyu, chief executive of SK Incheon Petrochem, told a news conference.

May 27 - China's crude oil imports from Saudi Arabia up 43% y/y in April
China's crude oil imports from Saudi Arabia rose 43% last month, making the Middle Eastern OPEC kingpin once again the top supplier to the world's second-biggest economy, boosted by demand from new private refiners. Saudi imports grew to 6.30 million tonnes, or 1.53 million barrels per day (bpd) on a daily basis, compared with 1.07 million bpd in the year ago period, according to data from the General Administration of Customs released on Saturday.

May 27 - Asian renewable investment to overtake upstream oil and gas spending in 2020 - Rystad 
Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday. Total capital expenditure in renewables will rise above $30 billion in the region by 2020, just overtaking investment into exploration and production for oil and natural gas, the consultancy said.

May 27 - Russia to pump dirty oil back from Belarus - sources 
Russia will pump dirty crude oil back from Belarus as it tries to clear a major pipeline of the contaminated oil that has caused the worst ever disruption to its oil exports, sources and officials said on Friday. Some 5 million tonnes of oil were contaminated in April with organic chloride and the dirty crude is now stuck in pipelines in Belarus and further West - in Poland, Germany, Ukraine, Slovakia, Hungary and the Czech Republic.

May 27 - Hedge funds cut bullish bets on U.S. crude last week - CFTC 
Hedge funds and other money managers cut their bullish positions on U.S. crude futures and options in the week to May 21, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group cut its combined futures and options position in New York and London by 12,529 contracts to 250,108 during the period. The move was the fourth consecutive decline in bullish positions.

May 27 - Total seeks to reduce stake in giant Kashagan oilfield - sources 
France's Total is seeking to sell part of its stake in Kazakhstan's giant Kashagan oilfield to raise up to $4 billion, four banking sources said. Total holds a 16.8% stake in Kashagan, one of the world's largest oilfields with production of about 400,000 barrels per day (bpd), and is seeking to sell around a third of its stake, according to the sources.

May 27 - U.S. oil drillers cut rigs for third week in a row - Baker Hughes 
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as weaker oil prices encourage drillers to follow through on plans to cut spending. Drillers cut five oil rigs in the week to May 24, bringing the total count down to 797, the lowest since March 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. 

May 27 - Britons set for $7.6 bln energy windfall from network curbs
Britons could see a 6 billion pound ($7.6 billion) cut in energy bills over five years from 2021, saving the average household 40 pounds per year, under plans to curb what gas and electricity network firms can pay shareholders. Regulator Ofgem, which introduced a price cap on standard energy bills in January after lawmakers said customers were being overcharged, is now targeting the operators whose network fees make up around a quarter of British household energy bills.

May 24 - Russia removed 2 mln t of tainted Druzhba oil using rail, sea, storage - sources 
Russia is using rail, storage tanks and ships to remove contaminated oil from an export pipeline, and has so far extracted around 2 million tonnes of the tainted oil - or over a third of volumes hit, industry sources and data showed. A month ago, Russia had to stop exports via the Druzhba pipeline to Poland and Germany at the northern branch of the line and to Ukraine, Hungary, Slovakia and the Czech Republic in the south. Routes split at the Mozyr refinery in Belarus.

May 24 - U.S. tells foreign firms to stop jet fuel trading with Venezuela -sources 
The United States told some large foreign firms this week they should stop trading jet fuel with Venezuela or face sanctions, according to two industry sources, ratcheting up pressure intended at removing Venezuelan President Nicolas Maduro from power. U.S. State Department officials made calls into several large Swiss-and British-based trading houses aimed at limiting commercial and military flights in Venezuela, said the sources.

May 24 - Iran stores more oil on land and at sea as exports slump 
Iran's oil storage on land and at sea is on the rise as U.S. sanctions on exports bite and Tehran battles to keep its ageing fields operational and crude flowing, according to data and industry sources. Washington announced in May the end of sanctions waivers for foreign countries importing Iranian oil, hitting Tehran's biggest source of income.

May 24 - Australian state says Adani coal approvals due by mid June 
Australia's Queensland state said on Friday that the process to obtain final approvals for Adani Enterprise's controversial Carmichael coal mine must be wrapped up by mid-June. Adani has been working for a decade to obtain approvals to develop the project in the remote Galilee Basin, but the process has been slow as the mine has become a touchstone for concerns about climate change.

May 24 - Shipowners see increase in IMO-compliant fuels, but doubts persist 
Shipowners, who are facing one of the biggest changes in the oil industry in decades, are seeing more fuels that will be compliant with new rules on sulphur emissions from ships, but some say the way forward is far from clear. The United Nations shipping agency the International Maritime Organization (IMO) will from January 2020 limit the sulphur content in fuel ships use to 0.5%.

May 24 - Asia oil refiners mull run cuts with margins at 16-year low for season - sources, data
Asia's oil refiners are considering reducing output after margins slumped to their lowest for the season since 2003, according to industry sources and Refinitiv data. Companies that planned to trim output include SK Energy, a unit of SK Innovation, the Singapore Refinery Company (SRC), owned by PetroChina and Chevron Corp and at least one refiner in Thailand, five people familiar with the matter said.

May 23 - Guaido says Washington should help Venezuela keep U.S. refiner Citgo 
The United States should help Venezuela keep control over U.S. refiner Citgo by preventing its seizure by creditors seeking to collect on unpaid Venezuelan debts, opposition leader Juan Guaido said in an interview with Reuters on Wednesday. Venezuela's opposition is pushing to remove President Nicolas Maduro amid a catastrophic economic collapse that has created a humanitarian crisis. It also wants to protect overseas assets that it says will be crucial for a future economic recovery after Maduro leaves office.

May 23 - U.S. crude stocks highest since July 2017 on weak refining demand - EIA 
U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Wednesday. Crude inventories rose 4.7 million barrels in the week ended May 17, compared with analysts' expectations for a decrease of 599,000 barrels. That boosted overall crude inventories, not including the U.S. government's Strategic Petroleum Reserve, to 476.8 million barrels, their highest since July 2017.

May 23 - Groningen gas output should be cut more quickly, says minister 
Production at the Groningen gas field in the Netherlands should be reduced at a faster pace following a 3.4 magnitude earthquake in the northern Dutch region on Wednesday, Economic Affairs Minister Eric Wiebes said. Wiebes made the comment to journalists in The Hague ahead of a debate on production at the field that will consider government plans to end output by 2030.

May 23 - U.S. lawmaker wants EPA's use of biofuel waivers investigated 
Democratic Senator Tammy Duckworth on Wednesday asked the U.S. Environmental Protection Agency's Office of Inspector General to investigate why the agency vastly expanded its use of waivers to exempt small refineries from the nation's biofuel law. The request, made in a letter from Duckworth's office to Acting Inspector Charles Sheehan, follows a May 16 Reuters report that the EPA decided to expand the waiver program months before a 2017 court decision it has often cited to justify the move to the corn lobby.

May 23 - Saudi Aramco inks 20-year deal with Sempra for LNG supply
Saudi Aramco signed a 20-year agreement to buy liquefied natural gas (LNG) from a forthcoming export terminal in Texas that U.S.-based Sempra Energy is developing, the two companies said on Wednesday. The Saudi state oil giant plans to become a major global gas player, and this deal will provide it with access to some of the world's cheapest and most abundant natural gas via the U.S. shale boom.

May 22 - Russian pipeline restart hit by dirty oil evacuation problems
Hopes for a speedy resumption of oil exports from Russia to Poland and Germany along the Druzhba pipeline route are fading after plans to remove dirty oil from the pipeline had a major setback last week, three trading sources said. Russia halted oil flows along the pipeline to Eastern Europe and Germany in April because of contaminated crude, leaving refiners in Europe scrambling to find supplies.

May 22 - Norsk Hydro to boost alumina output as Brazil lifts restrictions 
Albras aluminium smelter in Brazil, partly owned by Norsk Hydro, started to ramp up its output on Tuesday after a Brazilian federal court lifted production restrictions at the Alunnorte alumina plant, the Norwegian company said. The Alunorte plant, an important supplier to the aluminium industry, has been forced to operate at half capacity since a spill in February 2018 which prompted regulators and courts to restrict output.

May 22 - Magnitude 3.4 quake hits gas field region of north Netherlands 
A 3.4 magnitude earthquake hit the north Dutch region of Groningen, home to one of Europe's largest natural gas fields, early on Wednesday, Dutch meteorology institute KNMI said. Decades of gas extraction have led to dozens of minor tremors every year in Groningen, damaging thousands of homes, sparking unrest among locals and prompting authorities to impose caps on activity.

May 22 - Saudi Arabia waits for higher spot prices before raising oil exports: Kemp 
Saudi Arabia is in no rush to increase oil production and exports, fearing that additional supply would risk a renewed build up of stockpiles and push prices lower. “Our preference is to maintain production management to keep inventories on their way declining gradually, softly, but certainly towards normal levels”, the kingdom’s oil minister said on Monday.

May 22 - BP faces climate protests at investor meeting, Shell gets boost 
Activists disrupted BP's annual shareholder meeting on Tuesday shouting "this is a crime scene" in the latest climate protest against the oil and gas group, while rival Royal Dutch Shell got some rare praise from investors on its emissions policies. Both oil giants have been working with shareholders in recent years to try to define a path towards meeting the goals of the 2015 Paris climate agreement to limit global warming. U.S. rivals Exxon Mobil and Chevron are also under pressure from investors, but have so far not committed to any targets.

May 21 - Australia's shock election shows killing coal mining is no sure thing: Russell 
While Australia's opposition Labor Party is the obvious loser from the weekend election, the anti-coal environmental lobby suffered probably a bigger blow and will need to re-think its strategy to end mining of the polluting fuel. The conservative Liberal Party-led coalition is likely to have pulled off one of the great political escapes by returning to office for a third term, confounding polls and pundits who thought Labor was a near certainty to win the May 18 election.

May 21 - Oil traders try to ship dirty Russian crude to Asia 
Trading companies Vitol and Unipec are sending around 700,000 tonnes of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data. A key Russian pipeline to Europe, Druzhba, and a major port Ust-Luga have been contaminated with organic chloride, which can damage refining equipment. As a result, Russia was forced to reduce exports in the worst ever supply disruption.

May 21 - OPEC+ considers moving oil policy meeting to early July - sources 
OPEC and its allies are considering moving the date of their next oil policy meeting in Vienna to July 3-4 from June 25-26, two OPEC sources said on Monday. The date change has been proposed but has not been officially confirmed, the sources said.

May 21 - Funds sell oil as economic fears trump supply threats: Kemp 
Hedge funds continued to liquidate some of their bullish position in oil last week as concerns about the economy and the outlook for consumption outweighed escalating tensions and the threat to supplies in the Middle East. Hedge funds and other money managers cut their combined net long position in the six major petroleum futures and options contracts by 19 million barrels in the week to May 14.

May 21 - Carlyle in talks with pipeline firms to sell 25% stake in U.S. oil export project - source 
Carlyle Group LP is in discussions with three companies that operate pipelines and terminals to sell a 25% stake in its Corpus Christi, Texas, crude oil export terminal for $625 million, according to a source familiar with the matter. Carlyle is also in talks with the three companies to jointly operate a crude oil pipeline from Houston to Corpus Christi, the source said. The identities of the companies could not be immediately learned.

May 20 - Saudi Arabia says oil producers want to reduce inventories 
Saudi Energy Minister Khalid al-Falih said on Sunday there was consensus among OPEC and allied oil producers to drive down crude inventories "gently" but his country would remain responsive to the needs of what he called a fragile market. Falih said a possible rollover in the second half of 2019 of output curbs agreed by OPEC and non-members was the main option discussed at a ministerial panel meeting during the day but "things can change by June".

May 20 - In coal we trust: Australia's voters back PM Morrison's faith in fossil fuel 
Australia's re-elected Prime Minister Scott Morrison once brandished a lump of coal in parliament, crying, "This is coal - don't be afraid!" His surprise win in what some dubbed the 'climate election' may have stunned the country, but voters should know what comes next in energy policy - big coal. Battered by extended droughts, damaging floods, and more bushfires, Australian voters had been expected to hand a mandate to the Labor party to pursue its ambitious targets for renewable energy and carbon emissions cuts.

May 20 - Australia's shock election shows killing coal mining is no sure thing: Russell 
While Australia's opposition Labor Party is the obvious loser from the weekend election, the anti-coal environmental lobby suffered probably a bigger blow and will need to re-think its strategy to end mining of the polluting fuel. The conservative Liberal Party-led coalition is likely to have pulled off one of the great political escapes by returning to office for a third term, confounding polls and pundits who thought Labor was a near certainty to win the May 18 election.

May 20 - Iraq oil minister says deal with Exxon close, slowed by evacuation 
A major oil deal between Iraq and Exxon Mobil was "very close" but had been slowed by Exxon's decision on Saturday to evacuate its international staff from the West Qurna oil field, Iraq's Oil Minister Thamer Ghadhban said on Sunday. "Had we concluded we would have signed a heads of agreement," he said, referring to a preliminary document that would set out terms of cooperation on the South Integrated Project. "But now they are out of the country, why should I run after them?" he said at an oil meeting in Jeddah.

May 20 - Insurer says Iran's Guards likely to have organised tanker attacks 
Iran's elite Revolutionary Guards (IRGC) are "highly likely" to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers' report seen by Reuters. The UAE, Saudi Arabia and Norway are investigating the attacks, which also hit a UAE- and a Norwegian-flagged vessel.

May 20 - Kazakhstan to seek damages from Transneft for tainted oil loaded in Ust-Luga 
Kazakh oil flowing via Russia to be loaded on tankers at the Baltic Sea port of Ust-Luga has been contaminated and Kazakhstan plans to seek compensation from Russian pipeline monopoly Transneft, a senior Kazakh energy official said. Russia's oil export flows have been disrupted since April, when high levels of organic chloride were found in crude pumped via the Druzhba pipeline to Ust-Luga and other European countries.

May 20 - Global demand upturn, IMO rule could boost Brent oil to $90/bbl-BofA 
De-escalation of a trade war could result in a weaker dollar and stronger global growth, which along with International Maritime Organization (IMO) changes to shipping fuel rules could raise Brent oil to $90 a barrel, Bank of America Merrill Lynch said. "The new shipping fuel rules by IMO could result in the largest ever surge in middle distillate demand ... The net result will likely be a large bump up in oil demand from the global power generation sector."

May 20 - U.S. oil drillers cut rigs to lowest count since March 2018 - Baker Hughes 
U.S. energy firms this week reduced the number of oil rigs operating for the second week in a row, with the rig count at its lowest since March 2018, as some drillers follow through on plans to cut spending. Despite those cuts, production in the nation's biggest shale formations was expected to keep rising from record levels.

May 20 - Saudi to supply an extra 2 mln barrels/month to Indian Oil Corp from July
Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month from July to December, an IOC executive said on Friday, as New Delhi seeks to make up for a loss in supplies from Iran. Saudi Arabia approached Indian buyers last month offering them additional supplies to compensate for lost Iranian oil after U.S. sanctions kicked in.

May 17 - Why Zimbabwe faces worst power cuts in three years 
Zimbabwe is experiencing its worst power cuts in three years, lasting up to 10 hours daily in some areas and threatening mining output in one of the world's biggest platinum and gold producers. The sector, which generated most of Zimbabwe's $4.8 billion of export earnings last year, is crucial to President Emmerson Mnangagwa's pledge to revive an economy ravaged by drought and soaring inflation.

May 17 - Trump EPA did not await court ruling to loosen biofuel rules for refiners - documents 
The Trump administration made it easier for oil refineries to get waivers from the nation's biofuel law at least four months before a 2017 court decision it often cites to justify the move to the corn lobby, and the move was motivated by a desire to save the oil industry money, Reuters has learned. The timing and motivation for the Environmental Protection Agency's policy change, revealed through court documents and an interview with a former top agency official, have not been previously reported. 

May 17 - U.S. coasts face tight gasoline supplies ahead of summer driving season
Tight gasoline supplies on the U.S. East and West Coasts have left both regions vulnerable to potential price spikes at the pump ahead of the peak summer driving season. Supplies on both coasts are at seasonal five-year lows just days ahead of the May 27 Memorial Day holiday weekend starts, the unofficial beginning of summer.

May 17 - Russia's Transneft to compensate buyers for dirty oil, but they must prove loss 
Russia's state pipeline monopoly Transneft will compensate all parties for losses incurred from contaminated oil, but they must prove the damage, a government official said on Thursday, as the first European refinery declared force majeure. Russia's oil export flows have been disrupted since April when high levels of organic chloride were found in crude pumped via the Druzhba pipeline to the Baltic port of Ust-Luga and other European countries.

May 17 - Gas station lines reappear in Venezuela as refinery halts, fuel imports plunge 
Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the country's second-largest oil refinery halted operations. Shortages of motor fuel have become a periodic occurrence across OPEC member Venezuela, particularly in border regions where smuggling to neighboring countries is common, the result of generous subsidies from state-run oil company PDVSA that have led to nearly-free gasoline.
May 17 - Brent spreads point to tightest market since 2014: Kemp
Oil traders anticipate a big draw down in crude stocks in the second half of this year as sanctions on Iran and Venezuela coupled with other supply disruptions and a sluggish response from OPEC cause a severe shortage. Brent's six-month calendar spread has moved into a backwardation of almost $3.80 per barrel up from $2.20 a month ago and a contango of more than $1 per barrel at the beginning of the year.

May 17 - Norsk Hydro eyes Brazil progress as court lifts one of two embargoes 
A Brazilian federal court has lifted one of two production embargoes on a key plant owned by Norwegian metals maker Norsk Hydro, the company said on Thursday, raising hopes that full production can soon resume. Shares in the company rose 5.4% in early trade on the news, and were up 4.3% at 33.42 Norwegian crowns by 0745 GMT.

May 16 - UAE says it will show restraint after tanker attacks, Iran's behavior a concern 
The United Arab Emirates will show restraint after attacks on oil tankers off its coast and is committed to de-escalation during a "difficult situation" caused by Iranian behavior in the region, a senior official said on Wednesday. Minister of State for Foreign Affairs Anwar Gargash said he would not speculate about who was behind Sunday's sabotage acts on four vessels, including two Saudi tankers, near Fujairah emirate while an investigation was under way and due to be completed within days.

May 16 - Tanker unloads Iranian fuel oil at China port after near 5-month trek - data 
A tanker carrying Iranian fuel oil in violation of U.S. sanctions has unloaded the cargo into storage tanks near the Chinese city of Zhoushan, according to ship tracking data on Refinitiv Eikon. The discharging of the nearly 130,000 tonnes of Iranian fuel oil onboard the tanker, the Marshal Z, confirmed by a representative of the oil storage terminal, marks the end of an odyssey for the cargo that began four months ago.

May 16 - In limbo: the dirty Russian oil no one wants to pay for
The bills are due for millions of barrels of contaminated Russian oil that have been stuck for weeks in pipelines from Belarus to Germany - but no one wants to pay. Western oil companies and European refiners that bought the oil a month ago, before discovering it was unusable, have so far refrained from freezing payments as they are keen to maintain good long-term relations with the world's second biggest oil exporter and avoid protracted legal battles in Russian courts.

May 16 - U.S. crude stockpiles rise unexpectedly to highest since 2017 - EIA
U.S. crude oil stockpiles rose unexpectedly last week, climbing to their highest since 2017 amid a release from the national emergency reserve, while gasoline inventories decreased more than forecast, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.4 million barrels in the last week, compared with analysts' expectations for a decrease of 800,000 barrels.

May 16 - Rising U.S. oil output helps fill gap left by Iran, Venezuela - IEA
The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Wednesday. The IEA, which coordinates the energy policies of industrial nations, said Washington's decision to end sanctions waivers that had allowed some importers to continue to buying Iranian crude added to the "confusing supply outlook."

May 16 - Venezuela's crude upgraders scale back output as exports dwindle - sources 
Venezuela's crucial oil upgraders have stopped processing heavy crude because a decline in exports due to U.S. sanctions has left the OPEC nation without sufficient storage space, seven sources familiar with the facilities told Reuters. Three of the four upgraders, which convert extra-heavy Orinoco oil into lighter exportable grades, have started "recirculating" - a process that keeps systems running to prevent damage but does not yield new upgraded oil.

May 16 - Oil prices trapped by grim news from emerging markets: Kemp 
Consumption concerns have kept oil prices under pressure since the middle of April, even as threats to production and seaborne exports multiply. U.S. sanctions have slashed exports from Venezuela and Iran, Libya's production is threatened by renewed fighting, and tensions between Iran and the United States have ratcheted up.

May 15 - Saudi oil facilities attacked, U.S. sees threat in Iraq from Iran-backed forces
Saudi Arabia said armed drones struck two of its oil pumping stations on Tuesday, two days after the sabotage of oil tankers near the United Arab Emirates, and the U.S. military said it was braced for "possibly imminent threats to U.S. forces in Iraq" from Iran-backed forces. The attacks took place against a backdrop of U.S.-Iranian tension following Washington's decision this month to try to cut Iran's oil exports to zero and to beef up its military presence in the Gulf in response to what it said were Iranian threats.

May 15 - Russia's Transneft blames oil firms for contamination, no easy fix in sight
Russian pipeline monopoly Transneft said on Tuesday that oil producing firms were to blame for the recent contamination of an export pipeline, as sources said there was no quick fix to the problem. Russian export flows have been disrupted since April when high levels of organic chloride were found in crude pumped via the Druzhba pipeline to the Baltic port of Ust-Luga.

May 15 - OPEC sees more 2019 demand for its oil as it keeps cutting output 
OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including U.S. shale producers slows, pointing to a tighter market if the exporter group refrains from raising output. But the Organization of the Petroleum Exporting Countries, in a monthly report, said its output fell in April. Top exporter Saudi Arabia cut output despite oil prices hitting a 2019 high above $75 a barrel and U.S. President Donald Trump urging action to lower prices.

May 15 - Saudi Aramco bets on oil supply to Europe, trading expansion
Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day (bpd) within the next two years as it expands its trading operations there with an office opening this summer in London, a senior company executive said. Aramco, the world’s biggest oil producer, is expanding its downstream, or refining and marketing, footprint globally by signing new deals and boosting the capacity of its plants to secure new markets for its crude.

May 15 - Mexico's rising oil nationalism faces debt-rating crisis
Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country's oil wealth. The leftist oil nationalist's ambitions include building a new $8 billion refinery, refurbishing existing refineries and reversing a steady decline in crude production.

May 15 - Houston Ship Channel bottleneck eases after vessel collision - officials 
A bottleneck of traffic on the Houston Ship Channel eased on Tuesday though one-way travel restrictions remained following a weekend collision between a deep-draft ship and a barge, officials said on Tuesday. About 11,280 barrels of gasoline spilled into the channel near Bayport, Texas, officials said in an update on Tuesday, after a 755-foot (230-meter) tanker collided over the weekend with a Kirby Inland Marine tugboat towing two barges containing the fuel.

May 15 - Cash-rich Canadian oil firms favor buybacks as other options narrow 
Canadian oil producers are raking in the highest revenues in five years thanks to strong global oil prices and Alberta's production cuts, but government intervention has hamstrung their spending abilities, encouraging many to buy back shares and pay down debt. Canada's main crude-producing province effectively became a mini-OPEC this year after the Alberta government imposed production quotas to relieve pipeline congestion and drain a glut of crude in storage.

May 14 - U.S. faces hurdles in push to build electric vehicle supply chain
The United States faces stiff challenges as it moves to create its own electric vehicle supply chain, industry analysts say, with the extent of the country's metal reserves largely unknown and only a few facilities to process minerals and produce batteries. Legislation making its way through the U.S. Congress aims to help offset those gaps, but China remains the global EV sector leader, a dominance seen by some as difficult to supplant.

May 14 - Asia's refiners brace for surge in spot oil prices on tight supply 
Asian oil buyers are bracing for surging prices in the spot crude market as global supplies have tightened after stringent U.S. sanctions on producers, disruptions of Russian oil flows in Europe and maintenance at oilfields in the Atlantic Basin and Asia. Buyers have already paid a premium of $6 a barrel to benchmark Dubai quotes for Russia's Sokol crude for July loading, the highest premium since 2014. The premium for July-loading Oman crude futures to Dubai is at $3.46 a barrel, the most for this time of year in four years.

May 14 - Saudi oil tankers among those attacked off UAE amid Iran tensions 
Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions between the United States and Iran. The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world's largest bunkering hubs lying just outside the Strait of Hormuz. It did not describe the nature of the attack or say who was behind it.

May 14 - Russian oil quality back to normal at Baltic port after contamination
Russia has begun shipping clean oil via the Baltic after a contamination problem disrupted flows for three weeks and it is working to resume supplies by a pipeline to Europe although traders said this might take several more weeks to fix. High levels of organic chloride, used in oil extraction but which must be removed before being sent to clients, was found in crude pumped to the Baltic port of Ust-Luga and through the Druzhba pipeline in late April, disrupting Russian exports.

May 14 - U.S. shale output to hit new record of 8.49 million bpd in June - EIA 
U.S. oil output from seven major shale formations is expected to rise by about 83,000 barrels per day (bpd) in June to a fresh peak of about 8.49 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. One of the largest changes is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 56,000 bpd to a new record of about 4.17 million bpd in June. That would be the biggest increase since February.

May 14 - Hedge funds cautious on oil as economic outlook darkens: Kemp
Hedge fund managers have started to turn more bearish on oil as concerns about a slowing global economy and an over-extended price rally outweigh fears about sanctions and supply disruptions. Hedge funds and other money managers were net sellers of 25 million barrels of futures and options in the six major contracts linked to petroleum prices in the week to May .

May 14 - U.S. liquefied natural gas shipments to China face mounting tariffs
China said on Monday it would raise tariffs on liquefied natural gas (LNG) imports from the United States amid a series of additional levies, a move that could further reduce U.S. LNG shipments to the world's fastest growing importer of the fuel. So far this year, only two LNG vessels have gone from the United States to China, versus 14 during the first four months of 2018 before the start of the 10-month trade war.

May 14 - Outages from Russia to North Sea give physical crude a boost 
Crude oil markets in Europe and West Africa are gaining support from unplanned Russian, Iranian and North Sea supply losses, and analysts say Brent futures have yet to fully reflect this. Nigeria's biggest crude grade, Qua Iboe, was being offered at a $2.50 a barrel premium to benchmark dated Brent, the highest since 2014. In the North Sea, Forties crude reached a six-week high on Friday.

May 14 - Houston port restrictions could continue all week -official
The Houston Ship Channel could remain under one-way travel restrictions all week following a collision between a deep-draft ship and a barge that spilled petrochemicals into the waterway, according to an official. About 9,000 barrels of gasoline spilled into the channel near Bayport, Texas, when a 755-foot (230-m) tanker collided with a Kirby Inland Marine tugboat towing two barges containing the fuel. One barge ruptured and the other capsized.

May 14 - Oil supply crunch to test OPEC's spare capacity 
Oil production capacity could fall to under one percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say. Spare capacity is the extra oil a producing country can bring onstream and sustain at short notice, providing global markets with a cushion in the event of natural disaster, conflict or any other cause of an unplanned supply outage.

May 13 - Saudi Arabia says two Saudi oil tankers attacked near UAE waters 
Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a "sabotage attack" off the coast of the United Arab Emirates (UAE), condemning it as an attempt to undermine security of global crude supplies. The UAE said on Sunday that four commercial vessels were hit by sabotage near the emirate of Fujairah, one of the world's largest bunkering hubs lying just outside the Strait of Hormuz.

May 13 - Hedge funds cut bullish bets on U.S. crude to lowest in a month - CFTC 
Hedge funds cut their bullish wagers on U.S. crude oil to the lowest level in a month and upped their bets on Brent crude to the highest in nearly seven months, data showed on Friday, as oil prices whipsawed amid concerns over trade battle between the U.S. and China. The speculator group cut its combined futures and options position in U.S. crude futures in New York and London by 32,429 contracts to 275,699 during the week ending May 7. That was the lowest level since early April.

May 13 - 'We are the rightful owners' of Anadarko, Occidental CEO tells shareholders 
Occidental Petroleum Chief Executive Vicki Hollub on Friday touted her $38 billion deal for Anadarko Petroleum Corp and defended the pricey terms she negotiated in a 90-minute session with billionaire investor Warren Buffett to secure the deal without seeking shareholder approval. Hollub, 59, beat out larger rival Chevron Corp with a long-shot bid that some Occidental investors called risky because it saddles Occidental with $46 billion in new debt. By deftly lining up allies and cash, she put together a strategy that on Thursday prompted Chevron to withdraw.

May 13 - U.S. refiners' 2020 plans could shift as heavy fuel becomes expensive 
U.S. refiners had a plan for 2020: use their complex operations to maximize profits by making products that would comply with new international laws capping sulfur content in shipping fuels. But after a series of unexpected market moves, heavy, sour crude oil processed by U.S. refiners has become more expensive, eating up hoped-for profit windfalls before they even materialized, forcing refiners to rethink plans to invest more in heavy crude processing units.

May 10 - Chevron drops Anadarko takeover battle after Occidental raises bid
Chevron Corp abandoned its takeover bid for Anadarko Petroleum Corp on Thursday, outmaneuvered by Occidental Petroleum Corp's higher, $38 billion offer that included more than three times as much cash. With a financing assist from billionaire investor Warren Buffett, Occidental, which is one-quarter the size of Chevron, is the likely victor in a contest that again proved the allure of U.S. shale.

May 10 - In a sunset industry, economics of Adani's Australian coal mine questioned 
A crash in Australian thermal coal prices is raising fresh questions about the viability of a controversial $4 billion coal mine just a week ahead of a national election in which climate change is a key issue. Final approval of the Carmichael coal mine in Queensland, owned by India's Adani Enterprises, should come in "a matter of weeks, not months" following nearly a decade on the drawing board, the company's mining chief executive, Lucas Dow, told Reuters last month. 

May 10 - OPEC in the dark on oil supply as Russia, Iran cut exports 
OPEC is in the dark on the oil supply outlook for the second half of this year, with Iranian and Russian outages looking increasingly significant but Saudi Arabia reluctant to pump more due to fears of a price crash, sources in the organisation said. An oil contamination forced Russia to halt flows along the Druzhba pipeline, a key conduit for crude into Eastern Europe and Germany, in April. The suspension left refiners scrambling to find supplies and its duration is unclear. Iran's oil exports are likely to drop further in May as the United States tightens the screw on Tehran's main source of income. Shipments from Venezuela, also under U.S. sanctions, could fall more in coming weeks.

May 10 - Lacklustre gasoline, naphtha markets pummel Asian refining margins 
A weak light oil distillates market, awash in supplies, has sent Asia's refining margin plunging below $3 a barrel this week for the first time since February, with no short-term rebound in sight for naphtha or gasoline. With some refineries coming back on stream after outages or maintenance, coinciding with lower demand from Indonesia, the region's top gasoline importer, Asia's gasoline refining margin, or crack, dived 54 percent to $2.83 a barrel by Thursday compared with the start of the week. 

May 10 - China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end -sources 
China Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC), the country's top state-owned refiners, are skipping Iranian oil purchases for loading in May after Washington ended sanction waivers to turn up pressure on Tehran, three people with knowledge of the matter said. The United States has decided not to renew any exemptions for sanctions on Iran, taking a tougher line than expected on the expiry of the waivers. The waivers were granted last November to buyers of Iranian oil.

May 10 - Japan refiners tap more oil from Middle East to replace Iran supply 
Japanese refiners are tapping more oil from the Middle East after the United States ended all waivers from sanctions on Iran starting from this month. Fuji Oil Co bought 1.5 million barrels of Oman crude, Banoco Arab Medium from Bahrain, and Upper Zakum, an Abu Dhabi grade, to load in June in a spot tender held last month, according to trade sources.

May 10 - How Total's CEO pounced on Anadarko's African energy assets 
It took Total's chief executive and a small group of advisers just days to line up the French energy major's biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron's $33 billion bid for Anadarko in April with an offer that includes raising financing by selling some of Anadarko's operations worth up to $15 billion. Chevron walked away from the race on Thursday.

May 10 - Oil quality problems at Russia's Ust-Luga seen lasting until May 11 - trade 
Russian oil quality from the Baltic port of Ust-Luga was improving on Thursday but was still not good enough for refiners in Europe, with required standards expected to be reached only by May 11, trading sources said. Oil contamination at the port, with organic chlorides that can destroy refining equipment, was first reported late last month.

May 10 - Mexico ditches outside help for refinery plan, says Pemex can oversee 
Mexican President Andres Manuel Lopez Obrador said on Thursday Pemex will oversee construction of a new refinery, dismissing private sector suitors for the project and fueling fresh doubts about the financial health of the cash-strapped state oil firm. Lopez Obrador told his regular morning news conference that the firms invited to bid had balked at his $8 billion price tag for the facility and could not meet the government's three-year construction deadline, while Pemex could.

May 09 - Trading houses caught in crossfire of Russian oil contamination
Trading houses Vitol, Glencore and Trafigura are caught in the crossfire between Russian oil producers and Western buyers, which have refused to take contaminated Russian crude bought by the traders. At least 10 crude tankers with 1 million tonnes of oil, worth more than $500 million in normal circumstances, are marooned across Europe and still looking for buyers because they have been tainted with organic chloride.

May 09 - U.S. crude stocks fall 4 mln barrels as imports fall
U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said on Wednesday, and strong gasoline demand could point to additional drawdowns in coming weeks as driving season approaches. Crude inventories fell by 4 million barrels in the week to May 3, compared with analysts' expectations for an increase of 1.2 million barrels.

May 09 - Norwegian oil companies seek mediation after wage talks break down
Wage talks between Norwegian oil firms and their employees broke down on Thursday, setting the stage for mediation later this year in order to prevent a strike, Norwegian Oil and Gas (NOG) said in a statement on Thursday. While Norway's collective bargaining rules prevent the two largest unions involved in the talks from going on strike this year, the smaller of the three, representing close to 1,000 workers, has the right to do so if no deal is ultimately reached.

May 09 - Marathon Petroleum combines midstream units, surprise loss drags down shares
Marathon Petroleum Corp said on Wednesday it would combine its midstream units in a $9 billion deal, but shares fell more than 5 percent following a surprise quarterly loss on lower-than-expected refining margins. The deal comes months after the U.S. refiner said it had been weighing a possible merger of MPLX and Andeavor Logistics LP, the two master limited partnerships (MLPs) in its midstream segment that transport, store and market crude oil and its refined products. 

May 09 - Saudi Arabia's oil exports to stay below 7 mln bpd in June- Gulf source
Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output will stay under its production quota under a global deal to cut oil supply, a Gulf source familiar with Saudi oil plans said on Wednesday. This shows how Riyadh is reluctant to boost oil supply too quickly and risk a price crash and a build-up in inventories, despite pressure from Washington to reduce oil prices.

May 09 - China's crude conundrum: How to replace Iranian oil? - Russell
China's monthly crude oil imports jumped to a record in April, and while it's likely May will see a pullback, the broader question is how the world's biggest importer is going to fare without supplies from Iran? The market consensus in the wake of Wednesday's customs data was that imports, which hit 10.64 million barrels per day (bpd), were boosted as Chinese refiners stocked up on Iranian crude ahead of the expiry of U.S. waivers on purchases from Tehran.

May 08 - China April crude oil imports hit monthly record, refiners stocked up ahead of sanctions 
China's crude oil imports in April unexpectedly surged to a record despite refinery maintenance outages and tepid domestic fuel demand, customs data showed, as state-run refiners built up stocks of Iranian crude oil anticipating a sanctions clampdown. Imports last month were 43.73 million tonnes, equal to 10.64 million barrels per day (bpd), according to data from the Chinese General Administration of Customs.

May 08 - Iran says it is close to EU oil sales deal despite U.S. sanctions - report 
Iranian Foreign Minister Mohammad Javad Zarif told Russian news agency RIA on Tuesday that Iran was close to an oil sales deal with the European Union, despite the sanctions which have been re-imposed by the United States. "Iran and the EU are on the brink of agreement, which, despite the return of unilateral American sanctions, will make Iranian oil sales possible," he was quoted as saying.

May 08 - Petrobras plan to end refining monopoly in Brazil comes with caveats 
Brazil's Petroleo Brasileiro SA drew plaudits from investors last month for announcing a plan to sell off eight of its refineries in a process the company says could fetch some $15 billion. But analysts and industry experts say that while the divestments will help Petrobras shore up its finances, it may fail to create a competitive refining market in Brazil, an oft-stated goal of regulators and Petrobras executives.

May 08 - Enbridge seeking at least 8-year oil shipping commitments on Canada Mainline, worrying small producers 
Canada's Enbridge is asking oil shippers to sign at least eight-year contracts to move crude on its Mainline pipeline network, as it proposes to shift away from a monthly allocation system, people with knowledge of the matter told Reuters. The minimum term Enbridge Inc is seeking, previously unreported, is raising fears among small Canadian producers that they will lose out to bigger players, at a time when pipeline congestion has damaged the energy sector's outlook.

May 08 - Iraq close to signing $53 bln deal with Exxon, PetroChina; denies Iran link 
Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and U.S. permission for Iraq to do business with Iran.
Iraq expects to make $400 billion over the 30 years the deal will be in effect, the prime minister said. The southern mega-project involves the development of the Nahr Bin Umar and Artawi oilfields and raising production from the two fields to 500,000 barrels per day (bpd) from around 125,000 bpd now, Abdul Mahdi said.

May 08 - Midwest diesel demand sluggish on farmers' planting delays 
Diesel demand in the U.S. Midwest has shown signs of weakness, dropping prices to seasonal lows not seen since 2016, due to wet conditions in the region forcing farmers to delay planting. Farmers typically use more diesel during the spring to power tractors and other equipment to plant crops. However, planting is behind schedule this year, with corn only 10 percent planted in Illinois so far, versus 66 percent on average, according to the U.S. Department of Agriculture.

May 08 - Oil prices correct lower on hedge fund sales: Kemp 
Hedge fund managers have started to increase their bearish oil positions for the first time since the start of the year, amid signs the previous bull run had become overextended and prices were ripe for a correction.  Hedge funds and other money managers were net sellers of the six major petroleum futures and options contracts in the week to April 30, bringing to an end a record-breaking 15-week run of net purchases.

May 06 - Iran using all resources to sell oil in "grey market" - deputy minister 
Iran has mobilised all its resources to sell oil in a "grey market", bypassing U.S. sanctions that Tehran sees as illegitimate, state media quoted Deputy Oil Minister Amir Hossein Zamaninia as saying on Sunday. The United States, which last year withdrew from a 2015 Iran nuclear deal with world powers, has told buyers of Iranian oil to stop purchases by May 1 or face sanctions. 

May 06 - Occidental tweaks $38 bln Anadarko bid to remove shareholder vote 
Occidental Petroleum Corp increased the cash component of its $38 billion bid to acquire Anadarko Petroleum Corp on Sunday, removing a requirement for any deal to receive the approval of Occidental's shareholders. The move means Occidental shareholders who oppose the bid, including T Rowe Price, will not get an opportunity to vote it down. It adds more certainty to the offer for Anadarko, but also risks the ire of billionaire investor Carl Icahn, who sources have said has been amassing a stake in Occidental to challenge its Anadarko offer.

May 06 - Saudi Arabia raises June crude prices to Asia and Europe, cuts to U.S.  
Top oil exporter Saudi Arabia has raised its crude oil prices for June to its Asian and European customers, and cut prices to the United States, a signal that Riyadh is in no hurry to boost oil supply ahead of an OPEC meeting next month. Saudi Aramco raised the June price for its Arab Light grade for Asian customers by $0.70 a barrel versus May to a premium of $2.10 per barrel to the Oman/Dubai average, the state oil company said on Sunday.

May 06 - Mercuria enters LNG trading after poaching EDF team
Mercuria Energy Group is building a liquefied natural gas desk with the hire of three LNG traders from French utility EDF's trading arm, having eyed the market for several years, sources familiar with the matter said. The traders, Julien Bourdeau, Andrea Nardella and James Bloom, were London-based and resigned within the last two weeks, one of the sources said.

May 06 - Hedge funds cut bullish U.S. crude bets for first time since Feb - CFTC 
Hedge funds and other money managers cut their bullish wagers on U.S. crude oil last week for the first time since February as prices fell on expectations supply would decline, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group cut its combined futures and options position in New York and London by 18,689 contracts to 308,130 during the week ending April 30.

May 06 - Two of Venezuela's four crude upgraders still shuttered after blackout -document 
Two of Venezuela's four crucial crude upgraders, needed to convert extra-heavy crude from the Orinoco oil belt into exportable grades, remained shuttered a month after a major blackout, according to a document seen by Reuters on Saturday. State-owned oil company PDVSA nonetheless boosted its production of upgraded crude to 313,000 barrels on May 2 and 326,000 barrels on May 3, up from 298,000 in early April, as its two other upgraders and the Sinovensa mixing facility - a joint venture with China's CNPC- came close to or exceeded expectations, the PDVSA document showed.

May 06 - Oil market will tighten sharply when U.S. refineries return from maintenance: Kemp 
U.S. commercial crude oil inventories have been rising in recent weeks, which some observers have interpreted as evidence the global oil market is adequately supplied and blame for a sudden decline in oil prices. But this narrative cannot explain the steep backwardation in futures prices for global grades such as Brent, which is usually associated with a market that is significantly under-supplied.

May 06 - Louis Dreyfus could consider selling stake to regional player 
Louis Dreyfus Company, one of the world's biggest agricultural commodities houses, may consider selling a stake to a regional player to support its development although there are no specific plans to do so, the company said on Friday. Agricultural commodities traders have been grappling with lower profits from sourcing and shipping commodities such as grain and oilseeds, prompting cutbacks in trading teams, investments in food processing activities and acquisition speculation.

May 03 - Clean oil arrives in Belarus as Russia tackles tainted fuel flows 
Belarus said on Thursday that clean oil had reached it via the Druzhba pipeline from Russia, after several countries suspended such imports due to a contamination scandal that shocked the oil market and forced some states to open up strategic reserves. Poland, Germany, Ukraine, Slovakia and other countries halted Russian oil imports via the pipeline last week after finding contaminants that could damage refinery equipment.

May 03 - Occidental shareholders criticize bid for Anadarko, Buffett financing 
Several major Occidental Petroleum Corp shareholders have voiced opposition to the oil company's $38 billion bid for rival Anadarko Petroleum Corp that now includes a pricey financing deal with billionaire Warren Buffett. Occidental and Chevron Corp are battling for Anadarko and its holdings of nearly a quarter million acres in the Permian Basin, the top U.S. shale field, where low-cost production has helped turn the United States into the world's top oil producer at 12.3 million barrels per day.

May 03 - Iran will respond if OPEC members threaten its interests -oil minister 
Iran will respond if other OPEC members threaten its interests, Oil Minister Bijan Zanganeh said on Thursday amid rising pressures from Washington to bring Iranian crude sales to zero with the help of Tehran's regional rivals. The United States has demanded that buyers of Iranian oil stop purchases by the start of May or face sanctions, ending six months of waivers that had allowed OPEC member Iran’s eight top customers, most of them in Asia, to import limited volumes.

May 03 - Venezuelan PDVSA's oil exports steady in April, flow to Cuba continues -data 
Venezuela's state-run PDVSA exported 1.06 million barrels per day (bpd) of crude and refined products last month, an eight percent increase from March as the sanctioned company managed to boost shipments to China, according to Refinitiv Eikon data. The U.S. government imposed the toughest sanctions yet on PDVSA in late January, causing an abrupt disruption in flows of Venezuelan oil to the United States, formerly the OPEC-member country's first destination for crude exports.

May 03 - U.S. House backs Paris agreement in first climate bill in a decade 
The U.S. House of Representatives on Thursday passed its first climate-change bill in a decade, voting 231-190 to require that Trump administration keep the United States as a party to the Paris Climate Agreement. The Climate Action Now Act would require President Donald Trump to develop a plan for the United States to meet the goals it committed to in the Paris agreement to reduce its greenhouse gas emissions and block federal funds from being used to advance the formal U.S. withdrawal from the pact.

May 03 - Trump administration relaxes safety rules sparked by 2010 Gulf oil spill 
The Trump administration unveiled on Thursday its final plan to roll back offshore drilling safety measures put in place by the Obama administration after the fatal 2010 BP Deepwater Horizon oil spill, the worst in U.S. history, raising concerns by some groups over potential risks to workers and the environment. The changes are projected to save oil and gas drillers at least $1 billion over 10 years, according to an Interior Department spokeswoman.

May 03 - DowDuPont profit falls 28 pct on delayed shipments, weak chemical demand 
DowDuPont Inc posted a 28 percent slump in quarterly profit on Thursday, as floods in the United States delayed seed shipments and demand for its specialized chemicals used by the auto and smartphone industries declined, sending shares down about 6 percent. The company, which sells everything from circuit packaging and display materials for smartphones to lubricants and break fluid for car makers, reaffirmed its full-year forecast for net sales to be about flat.

May 02 - How Trump's hawkish advisors won debate on Iran oil sanctions
U.S. President Donald Trump's unexpected decision to ban all Iranian oil purchases after May 1 - ending exemptions for eight nations - came after hawkish economic and security advisors allayed the president's fears of an oil price hike, according to three sources familiar with the internal debate. The unprecedented move to fully sever Tehran’s financial lifeline - finalized just days before the April 22 announcement - underscores the influence of hard-liners within Trump’s National Security Council, which two of the sources said were the biggest advocates for the decision. They had for months argued for tightening the sanctions over the objections of State Department officials who favored allowing some partners and allies to keep buying Iranian oil.

May 02 - U.S. crude stocks soar 9.9 mln bbls to highest since Sept 2017 -EIA
U.S. crude stockpiles, including Gulf Coast inventories, rose last week to their highest since September 2017 as production set a new record high, imports rose while refining rates fell, the Energy Information Administration said on Wednesday. Gasoline stockpiles also increased unexpectedly after 10 weeks of drawdowns, while distillate inventories fell, the EIA said in its weekly report.

May 02 - Goal of June OPEC meeting to extend output cuts - Oman energy minister
The Organisation of the Petroleum Exporting Countries, Russia and other producers will be looking to extend their oil output cut agreement when they meet in June, Oman's energy minister Mohammed bin Hamad al-Rumhy said on Wednesday. The alliance, known as OPEC+, agreed last year to reduce output by 1.2 million barrels per day for six months from January 1.

May 02 - EPA has received DOE input for 2018 small refinery waivers - sources
The Department of Energy has given the Environmental Protection Agency its scoring results for the 40 outstanding 2018 applications made by small refineries for waivers from U.S. biofuel laws, four sources familiar with the matter said on Wednesday. The recommendations from the Energy Department are a crucial step in the EPA’s process for weighing the exemption requests, which can save refineries millions of dollars in regulatory costs and have become the center of a bitter dispute between the rival oil and corn industries.

May 02 - Poor April for global seaborne coal exporters masks overall resilience: Russell
Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn't quite as gloomy as it may appear. April is not traditionally a strong month for coal demand as it falls between the winter and summer power demand peaks - declining seaborne volumes are to be expected.

May 02 - U.S. oil output decelerates in response to lower prices: Kemp
The second U.S. shale oil drilling boom has started to cool as a decline in oil prices since the end of the third quarter of 2018 filters through to lower well boring and completion rates. The first boom ended when prices plunged in the second half of 2014; something similar is happening now, albeit on a milder scale corresponding to the smaller fall in prices.

May 02 - Republican senator says Trump will not waive U.S. shipping rules
A Republican U.S. senator on Wednesday said President Donald Trump will not waive rules requiring that only U.S.-flagged ships move natural gas from American ports to Puerto Rico and the U.S. Northeast. The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts. Republican senators said the administration was seriously considering waiving the requirements for 10 years. Bloomberg News reported last week that Trump was leaning in favor of some kind of waiver.

May 01 - The debate behind Trump's move to tighten Iran oil sanctions
U.S. President Donald Trump's unexpected decision to ban all Iranian oil purchases after May 1 - ending exemptions for eight nations - came after hawkish economic and security advisors allayed the president's fears of an oil price hike, according to three sources familiar with the internal debate. The unprecedented move to fully sever Tehran’s financial lifeline - finalized just days before the April 22 announcement - underscores the strong influence of hard-liners within Trump’s inner circle.

May 01 - How Russia contaminated $2.7 bln of oil exports to Europe
It was a quiet Easter holiday at the offices of major European oil companies and refiners when an email in Russian landed. "What the hell does it say?" one manager recalled thinking as he sent it to his Moscow office for translation.He was in for a shock. The letter was from the state pipeline company in Belarus, Gomeltransneft, telling oil refiners and pipeline operators in Poland, Ukraine, Hungary, Slovakia and the Czech Republic that the crude heading towards them from Russia down the 5,500 km (3,400 mile) Druzhba pipeline network was heavily contaminated.

May 01 - Buffett's Berkshire helps bankroll Occidental's $38 bln bid for Anadarko
Warren Buffett's Berkshire Hathaway Inc committed $10 billion on Tuesday to Occidental Petroleum Corp's $38 billion cash-and-stock bid for Anadarko Petroleum Corp, boosting its chances of snatching a deal from Chevron Corp. Occidental and Chevron are locked in the biggest oil-industry takeover battle in years as they eye Anadarko's prized assets in West Texas' huge Permian shale oilfield.

May 01 - OPEC oil output hits four-year low in April on Iran, Venezuela
OPEC oil supply hit a four-year low in April, a Reuters survey found, due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Arabia. The 14-member Organization of the Petroleum Exporting Countries pumped 30.23 million barrels per day (bpd) this month, the survey showed, down 90,000 bpd from March and the lowest OPEC total since 2015, the Reuters survey showed.

May 01 - U.S. crude output declines in Feb for second month
U.S. crude oil production fell 187,000 barrels per day in February to 11.7 million bpd as output dropped in the Gulf of Mexico and key on-shore oil producing states including Oklahoma and North Dakota, according to U.S. government data on Tuesday. The production decline was the second consecutive slip, following a fall in January, according to the U.S. Energy Information Administration data.

May 01 - Diesel traders anticipate shortage, but not just yet: Kemp
Gasoil traders expect the middle distillates market to stay well supplied until almost the end of 2019 before swinging into deficit with the introduction of new maritime fuel regulations. Calendar spreads for low-sulphur gasoil delivered to Europe's Amsterdam-Rotterdam-Antwerp hub are currently in contango through until October before shifting to backwardation from November onwards.

Apr 30 - Iran to keep exporting crude oil despite U.S. pressure - Iran president
Iran will continue to export oil despite U.S. pressure aimed at reducing the nation's crude oil shipments to zero, Iran President Hassan Rouhani said in a speech broadcast live on Iranian state TV on Tuesday. "America's decision that Iran's oil exports must reach zero is a wrong and mistaken decision, and we won't let this decision be executed and operational" Rouhani said.

Apr 30 - Anadarko to negotiate sale to Occidental 'superior' to Chevron deal
Anadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed $33 billion sale to Chevron Corp. The development represents a breakthrough in Occidental Chief Executive Vicki Hollub's two-year effort to buy Anadarko, one of the top U.S. oil and gas producers in the lucrative Permian Basin in Texas and New Mexico. Anadarko announced a deal with Chevron on April 12 after snubbing a higher bid from Occidental, prompting Occidental to try to upend the Chevron deal.

Apr 30 - Guards repel assault on Libya's biggest oilfield as Tripoli battle rages
An armed group attacked Libya's largest oilfield on Monday, but was repelled after clashes with its protection force, while fighting escalated in eastern commander Khalifa Haftar's effort to capture the capital Tripoli. The state oil company National Oil Corporation (NOC) said unknown gunmen fired a rocket propelled grenade at a control station of the El Sharara oilfield. Guards at the site eventually repelled the attackers, an oil engineer there told Reuters.

Apr 30 - Clean Russian oil has reached Belarus via key pipeline, Moscow says
Clean Russian oil had reached the border with Belarus by midday on Monday, a Russian official said, five days after European refineries suspended imports because of contamination in the Druzhba pipeline. Poland, Germany, Ukraine, Slovakia and other countries on the network suspended oil imports via the Druzhba pipeline after finding contaminants that can damage refinery equipment.

Apr 30 - Oil prices stumble as hedge funds become overextended: Kemp
Hedge fund managers added even more bullish long positions in crude oil and refined fuels last week, but positions showed signs of becoming stretched, setting prices up for a setback. Hedge funds and other money managers were net buyers of another 46 million barrels of futures and options in the six major petroleum contracts in the week to April 23, according to exchange and regulatory data.

Apr 30 - U.S. oil-storage industry fines soar on air, water violations
Fines for violations of air, water and waste regulations by U.S. petroleum storage facilities so far this year have exceeded all of last year - even without including two major Houston-area disasters in the last month still under investigation - according to a Reuters analysis of federal data. Federal and state fines of storage-tank operators totaled $5.2 million as of April, from $4.1 million for all of 2018 and $2.5 million in 2017, according to data on federal and state penalties analyzed by Reuters from the U.S. Environmental Protection Agency.

Apr 29 - Trafigura ships its first-ever West Texas Light cargo - source
Trafigura exported its first-ever cargo of U.S. West Texas Light (WTL) oil last month, according to a source familiar with the matter, sending the shipment to South Korea, which has been testing this oil as a replacement for Iranian barrels. Reuters reported earlier this month that South Korea has been testing WTL, a super-light oil, as a possible substitute for Iranian condensate as it seeks alternatives for those shipments after Washington reimposed sanctions on the Middle Eastern nation. 

Apr 29 - U.S. sanctions on Iran, Venezuela set up crunch for heavier oil
Tighter U.S. sanctions on Iranian oil planned for May are adding to a wealth of factors curbing global supply of heavy-medium crude, driving up prices for scarcer barrels and setting up a stand-off between buyers and sellers. The new curbs on Iranian exports come on top of Washington's earlier ban on Venezuelan crude and output snags in Angola, another big producer of the dense crude grades that best yield lucrative refined products like jet fuel.

Apr 29 - Trump says he told OPEC to lower oil prices
U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices. "Gasoline prices are coming down. I called up OPEC, I said you've got to bring them down. You've got to bring them down," Trump told reporters.

Apr 29 - Putin flags wider investigation into contaminated Russian oil
Russia's pipeline monopoly Transneft is investigating a case of contaminated oil, Russian President Vladimir Putin said on Saturday, adding that this could lead to a wider inquiry, possibly including law enforcement agencies. Poland, Germany, Ukraine and some other countries suspended imports of Russian oil via the Druzhba pipeline this week due to the contamination. Russia said it plans to restore the pipeline to Europe to stability in two weeks.

Apr 29 - Anadarko to pursue deal talks with Occidental Petroleum-sources
Anadarko Petroleum Corp, the U.S. oil and gas exploration and production company that agreed this month to sell itself to Chevron Corp for $33 billion, decided on Sunday to begin negotiations to sell itself to Occidental Petroleum Corp instead, according to people familiar with the matter. The bidding war for Anadarko underscores the value of its assets in the lucrative Permian Basin of West Texas and New Mexico. The vast shale field holds oil and gas deposits that can produce supplies for decades using low-cost drilling techniques.

Apr 29 - No stone unturned: S.Korea to sweep world for Iran oil replacement
South Korea will likely return to a familiar game plan to replace Iranian oil it will no longer have access to after May now that the United States intends to tighten sanctions on Iranian exports. South Korea is the biggest buyer of Iranian condensate, an ultra-light oil prized by the country's refiners as a raw material for petrochemicals manufacturing.

Apr 29 - Putin hopes Iran will continue oil exports despite U.S. warning
Russian President Vladimir Putin said on Saturday he hoped Iranian oil exports would continue despite Washington's efforts to stop them. Washington has demanded that buyers of Iranian crude halt purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues. 

Apr 29 - Japanese utilities turn away from coal plans amid green energy boom
Japanese utilities are turning away from new coal-fired power projects in the country amid tighter environmental regulations and increasing demand for greener energy from their key customers. Osaka Gas last week pulled out of plans to build a 1.2 gigawatt coal-fired project, which followed the cancellation in January of a 2 GW coal power station by Kyushu Electric Power, Tokyo Gas and Idemitsu Kosan.

Apr 29 - Air strike hits Tripoli as eastern Libyan forces send warship to oil port
Air strikes hit the Libyan capital late on Saturday as eastern forces loyal to Khalifa Haftar pursued a three-week campaign to take Tripoli and also confirmed for the first time they had dispatched a warship to an oil port. The Libyan National Army (LNA) force of Haftar, which is allied to a parallel government, has repeatedly flown air strikes since starting an offensive three weeks ago to take the capital held by the internationally recognised government.

Apr 29 - Exxon Mobil, Chevron dogged by refining, chemicals troubles
Exxon Mobil Corp and Chevron Corp on Friday reported lower profits, citing lower margins and refining weaknesses, areas that have plagued the two oil companies off and on for more than a year. Exxon posted the first loss in its refining business since 2009, citing the worst refining margins on gasoline and other profits it had seen in a decade. Chevron reported its refining and chemical profits fell 65 percent.

Apr 26 - U.S. oil shipments sailing for Australia highlight growing reach
Two cargoes of U.S. crude oil have been booked to sail to Australia, trade sources and data companies said, highlighting the increasing global reach of exports from the United States. Aframax tanker Esther Spirit loaded U.S. oil in early April at Enterprise Houston Terminal and is scheduled to discharge at Kwinana in Western Australia on May 20, ship-tracking data from Refinitiv and Vortexa showed.

Apr 26 - Poland, Russia, Belarus and Ukraine to talk on polluted Russian oil
Representatives of Poland, Russia, Belarus and Ukraine will meet on Friday in Minsk, the capital of Belarus, to discuss how to solve the problem of polluted Russian oil, Poland's pipeline operator PERN said on Thursday night. Poland, Germany and Slovakia suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world's second-largest crude exporter.

Apr 26 - Warp factor: Asia's LNG markets distorted by oil price surge
Asia's liquefied natural gas market is being distorted as the cost of LNG bought under long-term contracts linked to oil prices jumps to double spot gas cargoes amid tighter U.S. sanctions on Iran's crude exports and cuts in OPEC oil supply. The price gap between LNG traded in the spot market and term cargoes linked to benchmark Brent crude oil has stretched to its widest in about 8 years, driving some buyers locked in to term deals to try to delay shipments or look to adjust contracts.

Apr 26 - Iran will not let any country replace its oil in the market - ministry
Iran will not allow any country replace its oil sales in the global market, the Foreign Ministry said on Thursday, after the United States told importers to halt Iranian purchases from May. Washington has decided not to renew its exemptions from U.S. sanctions against Iran that it granted last year to buyers of Iranian oil. 

Apr 26 - Iraq says it has enough oil capacity to meet customer needs
Iraq's oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day (bpd) if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply. Thamer Ghadhban also said there were no acute oil shortages for the time being, but Iraq would continue to monitor the market to assess any need for additional barrels at the next OPEC meeting, due in June.

Apr 26 - Anadarko Petroleum profit beats on higher sales volumes, lower costs
Anadarko Petroleum Corp, the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, beat analysts' estimates for quarterly profit on Thursday, fueled by higher sales volume and lower costs. Occidental made a counterbid for Anadarko's vast shale holdings in the prolific Permian Basin of West Texas and New Mexico on Wednesday, offering $57 billion compared with Chevron's $50 billion bid, both including debt. 

Apr 26 - Pipeline operator Noble Midstream Partners up for sale -sources
Noble Midstream Partners LP, a pipeline operator controlled by U.S. oil and gas exploration and production company Noble Energy Inc, is up for sale, people familiar with the matter said on Thursday. The decision to seek to sell Noble Midstream Partners comes at a time when oil and gas companies are coming under intense pressure from shareholders to direct their focus on core operations to maximize returns and minimize expenses.

Apr 25 - Occidental offers $38 bln for Anadarko, topping Chevron
Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp. Both suitors are offering a premium for Anadarko's holdings in the Permian Basin of West Texas and New Mexico. The vast shale field holds oil and gas deposits that can produce supplies for decades using new, low-cost drilling techniques.

Apr 25 - Saudi Arabia says China has not yet asked for more oil amid tighter Iran sanctions
Saudi Arabia's energy minister Khalid al-Falih told Reuters on Thursday that China has "not yet" asked for more crude oil after the United States decided to end sanction waivers on Iranian oil imports that had permitted Beijing to keep buying from Tehran. The United States re-imposed sanctions against Iran's oil exports last November, but Washington initially allowed the eight biggest buyers of Iranian oil - China is number 1 - to keep purchasing limited imports for six months ending April.

Apr 25 - Saudi's Falih sees no need for swift output action after Iran oil waivers end
Saudi Arabia's energy minister said on Wednesday he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that the kingdom would respond to customers' needs if asked for more oil. Khalid al-Falih said he was guided by oil market fundamentals not prices, and that the world's top oil exporter remained focused on balancing the global oil market.

Apr 25 - U.S. oil exports to Asia to slow as Gulf Coast grades rise -traders
U.S. crude shipments to Asia are expected to slow over the coming weeks as the window to profitably send crude to that continent has repeatedly slammed shut over the last month as U.S. Gulf Coast grades rallied, traders said. U.S. Gulf Coast crude grades have strengthened over the past few weeks as U.S. crude's discount to Brent has widened. Grades got a further boost after the spread hit its widest level in a month after the United States this week demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions. 

Apr 25 - U.S. crude stockpiles jump on rise in imports - EIA
U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output ahead of the summer driving season, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels in the week to April 19, much more than analysts' expectations in a Reuters poll for an increase of 1.3 million barrels.

Apr 25 - Russian oil flow contamination roils Europe's refiners
The quality of Russian oil flowing to northern and central Europe has deteriorated significantly in recent days, traders and Russian officials said, roiling the continent's refining industry. Oil flows via the Baltic port of Ust Luga and via the Druzhba pipeline to Belarus, Poland, Germany, Hungary and the Czech Republic have been contaminated with high levels of organic chloride since April 19.

Apr 25 - Australia's pro-coal lobby should heed South Korea warning: Russell
A change in South Korea's energy policy should have absolutely no bearing on the current Australian election campaign, but it should, as it's a stark warning to politicians who still see a rosy future for coal mines and exports. Australia is the world's largest exporter of coal and South Korea has been a reliable customer for decades, taking 43.4 million tonnes of the polluting fuel from Australia in 2018, according to vessel-tracking data compiled by Refinitiv.

Apr 25 - Hedge funds bet big on spike in U.S. gasoline prices: Kemp
Hedge funds are betting heavily on higher gasoline prices this summer, anticipating that refiners will struggle to produce enough gasoline to replenish depleted stocks while ramping up diesel output for the shipping industry. Hedge funds and other money managers have accumulated 118 million barrels of bullish long positions in futures and options linked to U.S. gasoline prices compared with just 3 million barrels betting on prices falling.

Apr 25 - Shell strikes big oil in Blacktip well of Gulf Of Mexico
Royal Dutch Shell's U.S. unit said on Wednesday that it had made one of its biggest oil discoveries in the Blacktip deepwater well in the U.S. Gulf of Mexico. Blacktip, operated by Shell and co-owned by U.S. oil giant Chevron Corp, Equinor ASA and Repsol, is the company's second material discovery in the Perdido Corridor, Shell's Upstream Director Andy Brown said.

Apr 24 - Gulf OPEC members ready to raise output if there is demand - sources
Gulf OPEC producers can step in to meet any oil supply shortage following a U.S. decision to end waivers on buyers of Iranian crude, but will first wait to see whether there is actual demand, OPEC and industry sources said. The United States has decided not to renew exemptions from sanctions against Iran granted last year to buyers of Iranian oil, taking a tougher line than expected. 

Apr 24 - Tighter U.S. sanctions on Iranian oil will cost Asia but supply will flow
Asian buyers of Iranian crude are well placed to overcome the end of U.S. sanctions waivers as they have demonstrated they can live without it and as global producers have the capacity to make up a shortfall, according to analysts and trade data. The United States on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran's eight biggest buyers, most of them in Asia, to continue importing limited volumes. 

Apr 24 - Global oil markets adequately supplied - IEA
Global oil markets are adequately supplied and spare production capacity remained at comfortable levels, the International Energy Agency (IEA) said on Tuesday, while highlighting the need to avoid higher oil prices amid fragile global economic growth. The agency's comments come against the backdrop of the United States tightening its sanctions on leading oil producer Iran.

Apr 24 - Oil traders to Saudi Arabia: "show us the barrels" - Kemp
"The United States, Saudi Arabia and the United Arab Emirates ... are committed to ensuring that global oil markets remain adequately supplied," the White House said in a press statement issued on Monday. "Oil markets are well-supplied and oil inventory levels are seasonally strong," the U.S. State Department wrote in an accompanying briefing note explaining the rationale for eliminating sanctions waivers for buyers of Iranian oil.

Apr 24 - Glut forces LNG producers to offer flexible deals from global portfolios
The world's biggest liquefied natural gas (LNG) producers including Shell, Total and Petronas are increasingly selling from global supply pools instead of dedicated projects as buyers leverage a fuel surplus to force ever more flexible deals. This marks an accelerated turning from traditional long-term contracts that lock customers into taking regular volumes from specific projects under oil-linked pricing formulas.

Apr 24 - Iran sanctions decision rewards hedge fund oil bulls: Kemp
Hedge fund managers added even more bullish long positions in crude oil and gasoline last week as traders bet prices will continue rising despite a sluggish economy and political sensitivity around escalating motoring costs. The Trump administration's decision to toughen sanctions on Iran's oil exports has rewarded fund managers who have been increasingly confident that the oil market will tighten significantly this year, lifting prices.

Apr 24 - Sanctions on Iranian oil bring U.S. drivers pain at the pump
American middle class consumers are enjoying the strongest wage growth in a decade, but higher gasoline prices are eating a good chunk of that increase for many, and it looks like pump prices are headed higher. Gasoline pump prices have already jumped about 25% this year, the fastest rate in three years. Trump administration sanctions against Iranian crude oil exports had something to do with that, and this week's move to tighten sanctions could soon send prices even higher.

Apr 23 - U.S. to end all waivers on imports of Iranian oil, crude price jumps
The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran's oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch. The Trump administration on Monday said it will not renew exemptions granted last year to buyers of Iranian oil, a more stringent than expected decision that caught several key importers who have been pleading with Washington to continue buying Iranian oil sanctions-free. 

Apr 23 - Brazil's Petrobras revisits whistleblowers in wake of trading scandal
Brazil's Petroleo Brasileiro SA is re-examining its treatment of whistleblower complaints after the indictment of six of the state-run oil firm's traders in December indicated that efforts to root out corruption had faltered, according to three people familiar with the matter. In recent weeks, officials at Petrobras, as the firm is known, have summoned a number of current and former employees who had flagged instances of corruption at the company, particularly in relation to its trading operations, the sources said.

Apr 23 - In Iran oil sanctions poker game, Trump shows his hand, relies on other players: Russell 
U.S. President Donald Trump has shown his cards on sanctions against Iran's crude oil exports, but whether he has played a winning hand depends on what the other players are holding. The decision by the Trump administration not to renew any of the waivers extended six months ago to eight importers of Iranian crude, including top buyers China and India, is a clear escalation of Washington's campaign against Tehran's nuclear programme. 

Apr 23 - On South America's largest solar farm, Chinese power radiates
In an arid, lunar-like landscape in the sunny highlands of northern Argentina, South America's largest solar farm is rising, powered by funding and technology from China. Local officials said they had sought help at home, the United States and Europe without success. Potential lenders and partners, they said, were spooked by the project's size and the fiscal woes of Jujuy province, one of the poorest in the country.

Apr 23 - Halliburton sees signs of price recovery, shares dip
Halliburton Co sought to convince investors on Monday that weak pricing which has undermined oilfield services providers over four years was on the verge of turning a corner. Better-than-expected revenue in North America, along with the company's claim that prices were bottoming out, initially drove shares in the oilfield services giant almost 5 percent higher after it published first quarter results.

Apr 23 - Weak first quarter seen for U.S. refiners, but brighter summer expected
U.S. independent refiners are expected to roll out lower than expected first-quarter profits after a spate of outages, weak gasoline margins and a surge in the price of Canadian oil, according to analysts. Major independent refiners cut production dramatically during the quarter, with some electing to undergo maintenance rather than produce barrels at a time when gasoline margins slumped.

Apr 23 - JERA aims to double profit by FY25/26 with focus on LNG, renewable energy
JERA, Japan's biggest thermal power generator and the world's biggest buyer of liquefied natural gas (LNG), aims to double its profit by the financial year through March 2026 by stepping up investment in LNG and renewable energy, its new head said. The joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power Co became a major electricity generator this month with the takeover of 26 power stations owned by its two shareholders and representing about half of Japan's thermal power capacity.

Apr 18 - Spain's Repsol suspends swap deal for Venezuelan oil under U.S. pressure
Spain's Repsol has suspended its swaps of refined products for crude with Venezuela's state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weigh penalties for foreign firms doing business with Venezuela. The Spanish oil company has been swapping fuel and waiving payments due from a joint venture with PDVSA in exchange for crude, even as the United States rolled out new sanctions aimed at ousting Venezuela's socialist President Nicolas Maduro.

Apr 18 - Aramco in talks to buy stake in refining business of India's Reliance
Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake of atleast 20 percent in the refining and petrochemicals businesses of India's Reliance Industries Ltd, sources familiar with the matter said on Wednesday. State-owned Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.

Apr 18 - Australia's GrainCorp flags $29 mln earnings hit as China probes barley imports
Australia's GrainCorp Ltd said on Thursday it will take a A$40 million ($28.7 million) hit to half-year earnings, blaming international trade tensions and a severe drought, sending its shares to a three-week low. The country's largest listed agribusiness did not give further details, but industry sources said there had been a slowdown in Chinese demand for barley as Beijing considers whether to introduce tariffs on Australian supplies.

Apr 18 - U.S. crude stockpiles drop unexpectedly last week - EIA
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.4 million barrels in week to April 12, compared with analysts' expectations for an increase of 1.7 million barrels. A majority of the decline came from the Midwest region, where inventories fell 2.4 million barrels to 135.3 million barrels.

Apr 18 - Energy Secretary Perry planning to leave Trump administration - source
U.S. Energy Secretary Rick Perry is planning to leave the Trump administration, but his departure is not imminent, a source familiar with the situation said on Wednesday.
Perry, a former governor of Texas who has taken a leading role in President Donald Trump's policy of boosting energy production, has been finalizing his departure, the source said.

Apr 18 - Indian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap
Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said. All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters.

Apr 18 - U.S. shale producers see rising ultralight crude output hitting pricing
Much of the new crude coming from the top U.S. shale field is so light that it is starting to affect pricing for the region's oil, producers attending an energy conference this week said. Permian producers generally sell their crude at WTI benchmark prices, but rising supplies of ultralight oil may require them to offer $1 to $2 a barrel discounts to refiners requiring heavier grades, some said. 

Apr 18 - Petrobras hikes diesel price, eyes divestments amid investor unease
Brazilian state-run oil firm Petroleo Brasileiro SA hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference. In an impromptu news conference at the Rio de Janeiro headquarters of Petrobras, as the company is known, Chief Executive Roberto Castello Branco announced a diesel price hike of 10 cents per liter and said Petrobras has complete control over its pricing strategy.

Apr 18 - White House will tie Iran sanctions review to response by Saudi Arabia: Kemp
The White House will have to weigh costs and benefits carefully before tightening sanctions on Iran and Venezuela further – and decide whether the economic price is worth the diplomatic gains. If the White House toughens sanctions on Iran and Venezuela significantly (and the next decision on Iran sanctions is scheduled for the first week of May) any decision is likely to be tied to production increases by Saudi Arabia.

Apr 17 - China March refinery runs ease off record, crude output accelerates
Refinery output in China, the world's second-largest oil consumer, eased from record highs in March after maintenance shutdowns offset production from a new mega refinery. Refinery throughput in March rose 3.2 percent from a year earlier to 53.04 million tonnes, or 12.49 million barrels per day (bpd), data from the National Bureau of Statistics showed on Wednesday.

Apr 17 - Upstart Russian oil firm, with Goldman Sachs backing, bucks industry blues
In the frozen taiga of eastern Siberia, where bears roam in spring after waking from hibernation, an independent Russian oil company is bucking the domestic industry trend by rapidly ramping up its output and expanding operations. Irkutsk Oil Company, known by the Russian acronym INK, has increased its crude production levels 30-fold over the past decade and has negotiated access to a pipeline network that allows it reach the Asian market.

Apr 17 - Aramco in talks for 25 pct of Reliance's refining, petrochemical units - report
Saudi Aramco, the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses, the Times of India reported on Wednesday. A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company's refining and petrochemicals businesses at around $55 billion to 60 billion, the report said.

Apr 17 - Brazil government pledges to keep hand off Petrobras
Petroleo Brasileiro SA's market-based diesel pricing policy remains unchanged and Brazil's president has no intention of meddling in Petrobras' internal affairs, high-ranking government officials said on Tuesday. A call by President Jair Bolsonaro last week to the chief executive of Petrobras led the state-run company to call off a sharp diesel price increase and revived investor fears about political influence, hammering the share price of Petrobras.

Apr 17 - Turkey expects Washington to extend sanctions waiver on Iran oil
Turkey expects the United States to extend a waiver granted to Ankara to continue oil purchases from Iran without violating U.S. sanctions, Turkish presidential spokesman Ibrahim Kalin said on Tuesday. The U.S. reimposed sanctions in November on exports of Iranian oil after President Donald Trump unilaterally pulled out of a 2015 nuclear accord between Iran and six world powers. Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East.

Apr 17 - Venezuela's Guaido to seek to annul $8.7 bln Conoco award
Venezuelan opposition leader Juan Guaido will seek to annul an $8.7 billion arbitration award to U.S. oil producer ConocoPhillips as he moves to preserve foreign assets, Guaido's chief legal representative said on Tuesday. If accepted, the annulment request would halt enforcement of the award over the 2007 loss of Conoco's projects in the South American country. 

Apr 17 - Climate change targets are slipping out of reach: Kemp
For all the commentary around a transition to a clean energy system, the amount of carbon dioxide (CO2) in the atmosphere is still continuing to rise rapidly and shows no sign of slowing down. Climate change targets are slipping out of reach as the concentration of CO2 in the atmosphere continues to march higher, leaving policymakers confronting uncomfortable choices.

Apr 16 - U.S. shale output forecast to hit record 8.46 million bpd in May - EIA
U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 42,000 bpd to a fresh peak of about 4.14 million bpd in May.

Apr 16 - Hyundai Heavy says Aramco buys 17 pct stake in S.Korean refiner unit for $1.2 bln
The biggest shareholder in South Korean oil refiner Hyundai Oilbank said on Monday that state-owned Saudi Aramco had agreed to buy a 17 percent stake in its oil processing operations for 1.4 trillion won ($1.24 billion). Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco that included an option for Aramco to buy an additional 2.9 percent stake in Hyundai Oilbank.

Apr 16 - Hedge funds' oil positions start to look stretched
Hedge fund managers continue to accumulate positions in crude and gasoline in the most sustained bull market since 2017 but the market is starting to look stretched and the balance of risks is shifting to the downside. Hedge funds and other portfolio managers have boosted their net long position in the six most important petroleum futures and options contracts by 503 million barrels over the last 13 weeks.

Apr 16 - Petrobras CEO denies government interference after diesel price hike canceled
Roberto Castello Branco, chief executive officer of oil company Petroleo Brasileiro SA, denied there was government interference even after the state-controlled oil company delayed a diesel price hike after a call from President Jair Bolsonaro. Castello Branco, the CEO of Petrobras, said President Bolsonaro warned him in the call about the risks of a potential new truckers strike if diesel prices rose.

Apr 15 - Iran says U.S. pressures on Iran, Venezuela making oil market fragile
Iran's oil minister said on Sunday that U.S. sanctions on Iran and Venezuela and tensions in Libya have made the supply-demand balance in the global oil market fragile, and warned of consequences for increasing pressures on Tehran. Oil prices have risen more than 30 percent this year on the back of supply cuts led by the Organization of the Petroleum Exporting Countries and U.S. sanctions on oil exporters Iran and Venezuela, plus escalating conflict in OPEC member Libya. 

Apr 15 - Abu Dhabi's pension fund joins KKR, BlackRock in ADNOC pipeline deal
Abu Dhabi National Oil Company (ADNOC) said on Sunday that Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) has signed a deal to invest in a pipeline infrastructure entity that ADNOC is setting up with BlackRock and KKR. ADRPBF will invest 1.1 billion dirhams ($300 million) and will acquire a 3 percent stake in the newly formed entity, ADNOC Oil Pipelines, with BlackRock and KKR together holding 40 percent and ADNOC the remaining 57 percent, ADNOC said in a statement.

Apr 15 - Row with U.S. energy trader worsens Haiti's fuel crisis
A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise's government following the collapse of a supply deal with Venezuela last year. The capital Port-au-Prince’s fragile power grid was dealt a blow when Novum Energy Trading Corp suspended shipments in February, leaving residents without electricity for days and many gas stations with no fuel at the pumps.

Apr 15 - China's commodity imports look tepid, may be slightly warmer: Russell
If you were looking for evidence that China's economy has lost momentum, you may be tempted to think that you've found it in the unimpressive growth, or lack thereof, in imports of major commodities in the first quarter. Customs data for the first quarter show only crude oil has recorded significant growth in import volumes in the first quarter, with copper data mixed and iron ore and coal dropping. 

Apr 15 - No further cut to Pemex credit rating expected - Mexican minister
Mexican Finance Minister Carlos Urzua said on Saturday he does not expect rating agencies to further downgrade the credit rating of state-owned energy company Pemex. With $106 billion in financial debt, Pemex is the world's most indebted oil company and is teetering on the brink of having its debt downgraded to below investment grade.

Apr 15 - Russia, OPEC may ditch oil deal to fight for market share - Russian minister
Russia and OPEC may decide to boost production to fight for market share with the United States but this would push oil prices as low as $40 per barrel, TASS news agency сited Russia's Finance Minister Anton Siluanov as saying on Saturday. "There is a dilemma. What should we do with OPEC: should we lose the market, which is being occupied by the Americans, or quit the deal?" Anton Siluanov, speaking in Washington, said, TASS reported.

Apr 15 - Chevron's Anadarko deal to pressure U.S. shale producers to explore sales
Oil major Chevron Corp's $33 billion deal on Friday to acquire Anadarko Petroleum Corp has some investors and industry executives asking whether it is time for other U.S. shale oil and gas producers to consider selling themselves. Anadarko has been one of the pioneers of the shale revolution, which turned the United States into the world's biggest oil producer, overtaking Russia and Saudi Arabia.

Apr 15 - U.S. EPA revives provision that may name refiners applying for biofuel waivers
The U.S. Environmental Protection Agency on Friday took the first step to revive part of a rule that could, if finalized, reveal the names of oil refineries which applied for exemptions from the nation's biofuel laws. The move is seen as a win for the corn industry, which has criticized the waiver program due to its lack of transparency. 

Apr 15 - Hedge funds raise bullish crude bets in latest week - CFTC
Hedge funds and other money managers raised their bullish bets on U.S. crude in the week to April 9, as prices rose and oil touched a five-month high, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 30,726 contracts to 281,713 during the period. 

Apr 15 - U.S. drillers add oil rigs for second week in a row -Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with crude futures up more than 40 percent so far this year. Companies added two oil rigs in the week to April 12, bringing the total count to 833, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Apr 12 - Russia cashes in as European oil refiners pay for U.S. sanctions
European refiners are paying the price for U.S. oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed. Compounding the impact of sanctions, OPEC members have mainly cut sour crude output as part of their deal with allied producers to boost oil prices while a large, new refinery, designed to run on sour oil, has just started up in Turkey.

Apr 12 - OPEC could raise oil output if prices increase, shortages mount - sources
OPEC could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could overtighten the market, sources familiar with the matter said. Venezuelan crude production has dropped below 1 million barrels per day (bpd) because of U.S. sanctions. 

Apr 12 - U.S. super-light oil output rise roils Texas, Oklahoma markets
Growing production of Texas super-light oil - and worries about its quality compared with other types of crude - is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas. In the last several months, drillers are producing more oil known as West Texas Light (WTL), a type of crude that differs from what is blended at the Cushing, Oklahoma hub to produce the benchmark U.S. oil grade.

Apr 12 - Venezuela oil output plummets to 870,000 bpd on outages, sanctions - IEA
Global oil supply dropped in March as U.S. sanctions and power outages pushed Venezuela's crude output to a long-term low of 870,000 barrels per day (bpd), the International Energy Agency said on Thursday, even lower than OPEC reported the day before. "The blackouts are an additional challenge for Venezuela's oil sector, already set back by economic collapse, corruption, mismanagement and - more recently - by U.S. sanctions," the Paris-based IEA said in its monthly report.

Apr 12 - U.S. EPA may grant fewer biofuel waivers due to low credit prices - Wheeler
The U.S. Environmental Protection Agency could grant fewer waivers exempting small refineries from the country's biofuel policy as lower prices for blending credits have reduced the cost of compliance, the agency's administrator Andrew Wheeler told Reuters on Thursday. The Trump administration's use of such waivers to save the oil industry money has become a lightning rod of controversy for the powerful corn lobby, which claims the exemptions have been over used and threaten demand for corn-based ethanol at a time farmers are already struggling.

Apr 12 - As conflict flares once more, what's at stake for Libya's oil ?
Eastern-based Libyan forces commanded by Khalifa Haftar launched an offensive last week to take control of Tripoli, the capital, plunging the OPEC country into a new round of armed conflict. Haftar's Libyan National Army (LNA) faces fierce resistance from rival military groups, and oil prices have risen above $70 per barrel on fears of new losses to Libyan production. 

Apr 12 - Arrival of Putin's judo partner squeezed Shell out of LNG project: sources
Royal Dutch Shell pulled out of a project to build a Russian liquefied natural gas plant partly because Gazprom suddenly added another partner with links to an ally of President Vladimir Putin, according to five sources. After three years work on the Baltic Coast project, Shell discovered that Gazprom was bringing in a company linked to Arkady Rotenberg, who is on a U.S. sanctions blacklist.

Apr 11 - Venezuela reports collapse in oil supply, tightening global market - OPEC
Venezuela's oil output sank to a new long-term low last month due to U.S. sanctions and blackouts, the country told OPEC, deepening the impact of a global production curb and further tightening supplies. Supply cuts by OPEC and partners led by Russia, plus involuntary reductions in Venezuela and Iran, have helped drive a 32 percent rally in crude prices this year, prompting pressure from U.S. President Donald Trump for the group to ease its market-supporting efforts.

Apr 11 - Trump signs orders targeting states' power to slow energy projects
President Donald Trump signed two executive orders in the heart of the Texas energy hub on Wednesday targeting the power of states to delay natural gas, coal and oil projects as he looks to build support ahead of next year's election. Trump's orders direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states to delay projects on environmental grounds. 

Apr 11 - Climate goals could sink oil demand from mid 2020s - LGIM
Legal and General Investment Management (LGIM), which manages assets worth 1 trillion pounds ($1.3 trillion) worldwide, said oil demand could start to decline from 2025 if countries impose strict policies to curb climate change. The impact of moves to ensure the global rise in temperature remains below 2 degrees could be such that by the early 2040s oil demand would have dropped by around 40 percent from current levels to below 60 million barrels a day, LGIM said in a report published on Thursday.

Apr 11 - U.S. crude stockpiles surge to 17-month high; steep gasoline drawdown - EIA
U.S. crude oil stocks rose more than expected last week to the highest in nearly 17 months as imports climbed, while gasoline inventories posted their steepest drawdown since September 2017, the Energy Information Administration said on Wednesday. Crude inventories  rose 7 million barrels to 456.6 million barrels in the last week, their highest since November 2017, compared with analysts' expectations for an increase of 2.3 million barrels.

Apr 11 - How Trafigura lost $254 million on oil and gas hedges
One of the world's biggest traders, Trafigura, booked a $254 million loss from oil and gas market hedges last year, highlighting the challenges traders face when taking large loans to protect against price swings in illiquid commodities. To be sure, those losses are on paper and could be eliminated or turn into gains in the future if the market turns in Trafigura's favour. 

Apr 11 - Brazil's transfer-of-rights oil area: What's next?
Brazil's government and state-controlled oil company Petroleo Brasileiro SA have settled a long-running dispute about one of the world's most promising offshore oil areas, clearing the way for a blockbuster auction later this year. The national energy council announced on Tuesday that the government would pay Petrobras, as the company is known, $9.058 billion to end their contract dispute regarding the "transfer of rights area" (TOR). 

Apr 11 - Aramco bonds' modest gains suggest demand was inflated - sources
Saudi Aramco's debut $12 billion bonds booked at best modest gains on Wednesday, their first trading day after some $100 billion in orders, suggesting part of the record-breaking demand was inflated, three banking and investment sources said. Aramco chose to only issue $12 billion of debt, as its focus was to obtain favourable pricing to set a benchmark for its future financing activities.

Apr 10 - Aramco sells $12 billion bonds out of record $100 billion demand
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant which has faced investor concerns about government influence over the company. State-owned Aramco's bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company's eventual initial public offering.

Apr 10 - U.S. shale producers turn to jobs cuts as investor pressures mount
Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns. Pioneer Natural Resources Co, one of the largest producers in the Permian Basin of West Texas and New Mexico, and Laredo Petroleum Inc another Permian producer, this week disclosed plans to shed workers.

Apr 10 - EIA raises forecast for 2019 U.S. crude output growth
U.S. crude oil production is expected to rise by 1.43 million barrels per day (bpd) in 2019 to average 12.39 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, up from its previous forecast for a rise of 1.35 million bpd.  Output in 2020 is forecast to rise by 710,000 bpd to 13.10 million bpd, a smaller increase than the EIA previously estimated.

Apr 10 - Talks with China to cut ethanol tariffs 'positive' - U.S. agriculture secretary
U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing's tariff on U.S. ethanol products were "positive," but cautioned the discussions were not over. "There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry," he told reporters. "While things look positive, it's never over till it's over with the Chinese."

Apr 10 - India delays May order for Iran oil, awaits clarity on sanctions waiver - sources
Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from U.S. sanctions against the OPEC-member, four sources said. In November, U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions.

Apr 10 - China to cap 2019 coal imports to help domestic producers
China's government will cap coal imports this year at 2018 levels, four sources with direct knowledge of the matter told Reuters on Tuesday, to support domestic producers. The world's biggest coal consumer imported 281.23 million tonnes of coal in 2018 including thermal coal, coking coal and anthracite.

Apr 10 - U.S. crude exports to Europe falter as WTI-Brent spread tightens
U.S. crude cargoes bound for Europe dropped to the lowest in more than a year in March and will remain low with the narrow spread between U.S. crude and Brent limiting demand, according to trade sources and data from Refinitiv Eikon. Tankers carrying about 265,000 barrels per day (bpd) of U.S. crude are scheduled to arrive in Rotterdam, Fawley, Trieste and other European ports this month, following a record 718,500 bpd that arrived in March, Eikon data showed.

Apr 09 - Russia signals OPEC and allies could raise oil output from June
One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signalled on Monday that Russia wanted to raise oil output when it meets with OPEC in June because of improving market conditions and falling stockpiles. Dmitriev, head of Russian sovereign wealth fund RDIF, was the first Russian official to predict a deal with OPEC in 2016 and since then has become a key defender of the pact despite pressure from domestic oil firms to drop the agreement.

Apr 09 - Investors flock to Saudi Aramco's debut international bond
Saudi Aramco has received bids for more than three times the $10 billion it was expected to raise in a debut international bond issue, which is being watched as a gauge of potential investor interest in the oil company's eventual initial public offering. The demand prompted the world's largest oil firm to market the six-part deal - which will price on Tuesday and could see Aramco raise more than $10 billion - with a smaller than expected premium to the Saudi government that owns it.

Apr 09 - China thermal coal imports to fall 10 mln-12 mln tonnes in 2019 - Noble's Echeverri
China's thermal coal imports will decline by between 10 million and 12 million tonnes in 2019, a leading industry analyst said on Tuesday, largely because of rising domestic output in the world's top producer and consumer. China's coal output will increase from the second quarter of 2019, reducing its reliance on overseas supplies, Rodrigo Echeverri, head of hard commodities at trader Noble Group  told an industry conference in Shanghai.

Apr 09 - Venezuela pledges to honor oil commitments to Cuba despite sanctions
Venezuela will "fulfill its commitments" to Cuba despite United States sanctions targeting oil shipments from the South American country to its ideological ally, Foreign Minister Jorge Arreaza said on Monday. Washington on Friday imposed sanctions on 34 vessels owned or operated by state-run oil company Petroleos de Venezuela as well as on two companies and a vessel that have previously delivered oil to Cuba, aiming to choke off a crucial supply of crude to the Communist-run island. 

Apr 09 - Shell enters China's shale oil scene with joint study with Sinopec
Royal Dutch Shell has entered China's shale oil sector, signing an agreement with state-owned Sinopec to study an East China block, part of the nation's early efforts to unlock the potentially massive unconventional resource. China is already in the initial stages of developing its vast shale gas resources, with production last year making up just 6 percent of total gas output after more than a decade of work. 

Apr 09 - Oil traders hail output cuts but wary on economic outlook: Kemp
Hedge fund managers are becoming progressively more bullish on the outlook for crude and gasoline prices, but they are turning increasingly against diesel, notwithstanding the IMO marine fuel deadline at the end of the year. Hedge funds and other money managers were net buyers of 23 million barrels of futures and options linked to crude and refined products in the week to April, according to exchange and regulatory position records.

Apr 09 - Is coal's slump overdone? Australia's resilient exports suggest maybe: Russell
Australian thermal coal prices plummeted last week, dropping to a 10-month low after succumbing to a series of blows including concern over imports by China and a lower contract price with Japan. But while one should always be wary of trying to catch a falling knife, there are some signs that the rapid decline in prices in recent months has moved the market into oversold territory.

Apr 08 - Midwest floods hammer U.S. ethanol industry, push some gasoline prices toward 5-year high
The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country's interior while the U.S. coasts suffer from shortages of the biofuel. The historic March floods have dealt a series of blows to large swaths of an ethanol industry that was already struggling with high inventories and sluggish domestic demand growth. 

Apr 08 - Iran says reaches understanding with Iraq to develop two oilfields
Iran and Iraq have reached an understanding about developing two oilfields on their mutual border, Iran's oil minister was quoted saying on Sunday, a day after Iranian President Hassan Rouhani called for increased trade between the two countries. The focus of the understanding is the development of the Naft Shahr and Khorramshahr oilfields, Oil Minister Bijan Zanganeh said according to a report on Iran’s oil ministry website on Sunday, without giving any details of the plan.

Apr 08 - U.S. crude output growth could slow as shale revolution loses momentum
After Texas pushed the United States over the last decade to become the world's biggest oil producer last year, the heart of the shale revolution is starting to show fatigue. The volume of crude being pumped out of Texas recently saw its first monthly dip in a year. Oil well productivity in Texas's Permian basin - the country's largest oil field - is falling, and the number of drilling rigs operating in the United States declined for six straight weeks before rebounding this week. 

Apr 08 - U.S. targets Cuba's oil supply from Venezuela in new sanctions
The United States on Friday targeted oil shipments from Venezuela to Cuba in its latest round of sanctions to pressure the government of President Nicolas Maduro, aiming to choke off a crucial supply of crude to the Communist island. The U.S. Treasury imposed sanctions on 34 vessels owned or operated by Venezuelan state-run oil company Petróleos de Venezuela, S.A, or PDVSA, and also on two companies and a vessel that delivered oil to Cuba in February and March.

Apr 08 - Hedge funds raise bullish U.S. crude bets as price climbs
Hedge funds and other money managers raised their bullish wagers on U.S. crude as futures rose more than 4 percent in the latest week, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 7,779 contracts to 250,989 during the week ended April 2.

Apr 08 - Saudi Arabia tries to develop counter-leverage with dollar threat: Kemp
Saudi Arabia's threat to sell its oil in currencies other than the dollar if the United States enacts anti-OPEC legislation is an empty one, but it illustrates the extent of tensions between the two governments over oil prices. Senior Saudi officials have discussed a plan to stop invoicing oil in dollars and switch to other currencies if the No Oil Producing and Exporting Cartels Act (NOPEC), recently introduced in Congress, becomes law.

Apr 08 - U.S. drillers add oil rigs for first week in seven - Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks after oil futures soared nearly 40 percent this year. Companies added 15 oil rigs in the week to April 5, the biggest increase since May, bringing the total count to 831, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Apr 05 - Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC' - sources
Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said. They said the option had been discussed internally by senior Saudi energy officials in recent months. 

Apr 05 - Venezuela's PDVSA braces for low output from crucial crude upgraders
Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and energy blackouts hit the OPEC nation's oil industry. Venezuela depends on the upgraders, which are mostly operated by joint ventures with foreign companies, to convert the extra-heavy crude oil produced in the Orinoco Belt into exportable grades usable in overseas refineries. Together, they have a capacity of some 700,000 barrels per day.

Apr 05 - Australia coal posts biggest weekly drop in a decade amid weak demand
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged with the end of winter and amid worries over the strength of the global economy. Coal prices for prompt loading at Australia's Newcastle terminal have lost almost 20 percent since last Friday, dropping to $72 per tonne, their lowest since May 2017, and marking the steepest weekly decline since the global financial crisis of 2008/2009.

Apr 05 - Aramco treads carefully on Saudi ties as it markets debut bond
For Saudi Aramco and its advisers, a debut international debt issue that could raise well over $10 billion presents a key challenge - how to forge an identity as a state-owned major while in the same league as the likes of Exxon Mobil and Shell. At stake is the likely multi-million dollar difference in interest payments over coming years between its standing as an independent international corporate and one tied closely to the host kingdom whose oil it ships to global markets.

Apr 05 - South Korea tests U.S. super light oil as Iran waiver uncertainty grows - sources
South Korea has begun testing super-light U.S. oil sold by Anadarko Petroleum Corp as a substitute for Iranian crude while it awaits word from Washington on whether it can keep buying oil from the Middle Eastern nation, sources said. South Korea is one of Iran's biggest Asian customers and was one of eight importers that received waivers to keep buying Iranian oil when the United States re-imposed sanctions in November.

Apr 05 - Value of U.S. oil deals plunges 93 pct in 1st qtr as investors demand higher returns
The value of U.S. oil and gas mergers and acquisitions fell to a 10-year low in the first quarter, according to data released on Thursday, as investors pushed shale producers that have driven a recent merger boom to focus on lifting shareholder returns rather than production. The value of oil and gas deals tumbled plunged 93 percent to $1.6 billion last quarter from a year ago to the lowest in a decade, energy consultancy Drillinginfo said in its quarterly M&A review.

Apr 05 - U.S. LNG to China will increase despite trade tension - Cheniere
Shipments of liquefied natural gas (LNG) from the United States to China will increase over the long term despite ongoing trade tensions, senior executives of Cheniere Energy  the biggest U.S. exporter of the super-chilled fuel, told Reuters. "It's clear that the U.S. LNG trade with China is just beginning because U.S. LNG has just started," Cheniere Vice President Robert Fee told Reuters on the sidelines of the LNG2019 conference in Shanghai on Thursday.

Apr 05 - Opponents of Alaska drilling say it threatens climate, wildlife
Opponents of drilling for oil in the Arctic National Wildlife Refuge are lining up in Alaska and in Washington, calling the White House's efforts to open up the land "ecologically unsound." Those against oil development in the ANWR coastal plain say the territory deserves protection from oil rigs, pipelines and roads that crisscross the rest of Alaska’s North Slope.

Apr 04 - U.S. crude stocks build sharply, production hits fresh peak
U.S. crude oil stockpiles soared unexpectedly last week as imports climbed and production edged higher to a new record, the Energy Information Administration said on Wednesday. Refined fuel inventories fell more than expected, with gasoline drawing down for a seventh straight week, as refining rates remained low, the data from the statistical arm of the Department of Energy showed.

Apr 04 - Flooding, refinery outages push gasoline prices higher in U.S. West
Severe flooding in the U.S. Midwest this season has had ripple effects for drivers further west, as washed-out rail lines disrupted ethanol supply, causing spikes in gasoline prices and even forcing some retail stations to shut down. Ethanol producers in flood-ravaged states have had trouble getting their product to markets over the past two weeks, as rail lines have been shut or hampered by rising waters.

Apr 04 - Western Canadian oil inventories rise in March despite curtailments
Western Canadian crude oil storage inventories rose in March, data from energy information provider Genscape showed on Wednesday, as reduced crude by rail volumes offset mandatory oil production cuts imposed by the Alberta government. It was the first monthly increase since the government of Canada's largest crude-producing province introduced curtailments on Jan. 1 2019 and highlights the difficult balancing act Alberta faces as it intervenes in the market.

Apr 04 - U.S. natural gas prices unmoved by colder winter, low inventories: Kemp
U.S. natural gas prices remain mired below $3 per million British thermal units despite a relatively cold winter that has left the volume of gas in storage well below normal for the time of year. Futures prices for natural gas delivered to Henry Hub in June 2019 are just over $2.70 per million BTUs, down from $2.90 in the middle of March, and have remained well below $3 throughout the last two years.


Oil and spot gold may extend gains moderately in Q2 before reversing the uptrend. Palm oil is expected to complete a corrective cycle by approaching a key resistance at 2,398 ringgit again.  Grains and cocoa are bullish, while base metals and the peaking spot palladium look very bearish. Special attention is drawn to dollar index which is poised to soar. To read the full report, click here.

Apr 03 - Three importers cut Iran oil shipments to zero - U.S. envoy
Three of eight importers granted waivers by Washington to buy oil from Iran have now cut their shipments to zero, a U.S. official said on Tuesday, adding that improved global oil market conditions would help reduce Iranian crude exports further. The United States reimposed sanctions on Iran after President Donald Trump last May withdrew the country from a 2015 nuclear deal between Iran and several world powers, accusing it of supporting terrorism and conflicts in Syria and Yemen.

Apr 03 - China's Sinopec dials back oil-purchase strategy after record Q4 loss - sources
China's Sinopec Corp has ended a five-year crude oil purchasing strategy to rein in the speculative derivatives activity of its trading arm Unipec after a record trading loss late last year, four people with direct knowledge of the matter told Reuters. Sinopec, Asia's largest crude oil buyer and its largest refiner, in January abandoned a buying formula used since 2014 to establish performance targets for Unipec and aimed at driving down its crude feedstock costs to a pre-set discount to global oil benchmarks.

Apr 03 - Citing climate differences, Shell walks away from U.S. refining lobby
Royal Dutch Shell Plc on Tuesday became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies, citing its support for the goals of the Paris climate agreement. In its first review of its association with 19 key industry groups, Shell said it had found "material misalignment" over climate policy with the American Fuel & Petrochemical Manufacturers (AFPM) and would quit the body in 2020.

Apr 03 - Venezuela oil exports stable in March despite sanctions, blackouts
Venezuela's state-run energy company, PDVSA, kept oil exports near 1 million barrels per day in March despite U.S. sanctions and power outages that crippled its main export terminal, according to PDVSA documents and Refinitiv Eikon data. The OPEC member stabilized exports in March after shipments fell about 40 percent in February from the prior months, in the immediate aftermath of the United States announcing it would impose sanctions on oil sales to choke off the main source of revenue for socialist President Nicolas Maduro.

Apr 03 - Cash flow still weak at U.S. shale firms, stock prices underperform
U.S. shale producers last year again spent more money than they collected, extending a years-long streak of putting oil output above cash flow and investor returns, according to a Reuters analysis of top independent producers. All but seven of 29 of these producers last year spent more on drilling and shareholder payouts than they generated through operations, according to securities filings. 

Apr 03 - Energy secretary says U.S. should debate shrinking the oil reserve
U.S. Energy Secretary Rick Perry said on Tuesday that Congress should consider whether to shrink the government's emergency oil reserve as the boom in domestic oil production has cut reliance on petroleum imports. The Strategic Petroleum Reserve (SPR), which stores crude oil in a series of salt caverns at heavily guarded sites on the Texas and Louisiana coasts, was authorized by Congress after the Arab oil embargo of the 1970s sparked a U.S. fuel crisis.

Apr 03 - Exxon offers first glimpse of results from expanded trading unit
Exxon Mobil Corp has offered a glimpse of the scale of its nascent energy trading operation, disclosing operating profit and losses of about $230 million during each quarter last year, the first time it has revealed the figures. The world's largest publicly traded oil producer last year launched a major push into energy trading, hiring veterans from Glencore, Noble Group, BP Plc and elsewhere in the United States, Europe and Asia. It also recruited market analysts and specialists with experience in crude, natural gas, gas-liquids and gasoline.

Apr 02 - OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts 

OPEC oil supply sank to a four-year low in March, a Reuters survey found, as top exporter Saudi Arabia over-delivered on the group's supply-cutting pact while Venezuelan output fell further due to sanctions and power outages. The 14-member Organization of the Petroleum Exporting Countries pumped 30.40 million barrels per day (bpd) last month, the survey showed on Monday, down 280,000 bpd from February and the lowest OPEC total since 2015.

Apr 02 - Saudi Arabia may keep May crude prices little changed
Top oil exporter Saudi Arabia is expected to keep prices of various grades of crude it sells to Asia little changed in May from the previous month, trade sources said on Tuesday. State-owned Saudi Aramco may cut the official selling price (OSP) for its flagship Arab Light crude by 5 cents a barrel for May, according to the median of responses of five refining sources. 

Apr 02 - Aramco's $10 bln-plus bond plan shows profits put top earner Apple in shade
Saudi Aramco, the world's biggest oil producer, made core earnings of $224 billion last year, almost three times as much as Apple, figures from the state-owned company showed on Monday ahead of its debut international bond issue. Previously reluctant to disclose its financials, Aramco had to reveal them in order to obtain a public rating and start issuing international bonds.

Apr 02 - Alberta crude inventories rise despite production curtailments
The amount of oil in storage in Alberta rose in February, monthly data shows, despite moves by the government of Canada's largest crude-producing province to reduce inventories by imposing curtailments on production. The reason is a sharp decline in crude by rail shipments, analysts say. A significantly narrower discount on Canadian crude compared with U.S. barrels as a result of the curtailments has made rail shipments uneconomic.

Apr 02 - Hedge funds bullish on slowing oil output growth: Kemp
Hedge funds are becoming increasingly bullish on oil prices amid signs of slowing production growth as a result of output cuts by Saudi Arabia and a reduction in U.S. shale drilling. Hedge funds and other money managers bought 37 million barrels of futures and options in the six most important contracts linked to petroleum prices in the week to March 26.

Apr 02 - Oil-rich sovereign funds look to renewables alongside fossil fuels
Sovereign wealth funds from oil-rich countries in the Middle East are moving to diversify into renewable energy, pushed by regulators and pledges on climate change, but are stopping short of following Norway in shedding some oil and gas investments. Total sovereign wealth fund investments within the oil and gas industry have dwarfed those within renewable energy in the past decade.

Apr 01 - Iranian fuel oil cargo sits off Malaysia as U.S. urges sanctions compliance
A tanker of Iranian fuel oil was sitting offshore Malaysia, ship tracking data on Refinitiv Eikon showed, as a top U.S. sanctions official visiting Singapore on Friday urged local governments to comply with oil trading restrictions on Iran. The U.S. government reintroduced sanctions against Iran's oil industry in November. While it still allows some buyers limited purchases of Iranian crude oil, petroleum products have not received official sanctions waivers. 

Apr 01 - Saudi Aramco gets first credit ratings ahead of bond debut
Saudi Aramco, the world's top oil producer, has been rated A+ by Fitch and A1 by Moody's in its first-ever credit ratings, ahead of the state oil giant's first global bond sale and following 2018 earnings that dwarfed those of international oil majors. Aramco will start meeting international bond investors this week for its debut in the international capital markets, opening its books to investor scrutiny for the first time. Given Aramco is fully state owned, its ratings are in line with the credit rating of Saudi Arabia. 

Apr 01 - Trump tries fresh approach with long-delayed Keystone XL pipeline
U.S. President Donald Trump on Friday signed a new permission for TransCanada Corp to build the long-delayed Keystone pipeline for imports of Canadian oil, replacing his previous permits in a fresh attempt to get around the blocking of the $8 billion project by a court in Montana. In granting the permission in an executive order, Trump revoked a previous permit for the pipeline issued in March 2017 and an executive order approving the project he issued two days after taking office in January that year.

Apr 01 - Commodity prices, investment poised to extend upswing
A rebound in commodities prices and investment is poised to extend in coming months as the sector gets its traditional boost during the final stages of the global economic cycle along with other drivers. While some investors worry about a possible recession, commodities are due to benefit from an expected U.S.-China trade deal, tightening oil supply and potential short-covering in beaten-down U.S. grain futures.

Apr 01 - Trump and Saudi Arabia at odds over oil prices: Kemp
U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020. In keeping with his iconoclastic approach to governing, Trump has kept up a public commentary on oil prices and the role of Saudi-led OPEC in messages on Twitter as well as television interviews.

Apr 01 - Cutbacks continue at two oil refineries over Texas petrochemical disaster
Lyondell Basell Industries may keep production cuts at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of shipping disruptions in a key oil port from a chemical spill, Gulf Coast market sources said on Friday. Royal Shell Plc plans to increase production on April 3 at its 275,000 bpd joint-venture Deer Park, Texas, refinery, which was cut because of the shipping shutdown, the sources said.

Apr 01 - U.S. crude output eases from record to 11.9 mln bpd in Jan - EIA
U.S. crude oil production edged lower in January to 11.87 million barrels per day, from a revised record 11.96 million bpd in December, the U.S. Energy Information Administration said in a monthly report on Friday. Production in Texas fell by 64,000 bpd in the month and in North Dakota output rose by 9,000 bpd. Meanwhile, production in the federal waters of the Gulf of Mexico was largely unchanged, according to the report.

Apr 01 - Hedge funds boost bullish U.S. crude, Brent bets -CFTC
Hedge funds and money managers raised bullish wagers on U.S. crude to the highest in more than five months, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday, as prices climbed on tightening global supplies. The speculator group increased its combined futures and options net long position in New York and London by 29,103 contracts to 243,209 in the week to March 26.

Apr 01 - U.S. drillers cut most oil rigs in a quarter in three years - Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019. Drillers cut eight oil rigs in the week to March 29, bringing the total count down to 816, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. 

Mar 29 - OPEC struggles to keep Russia on board with oil cut, may offer shorter extension
Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cutting oil supply, and Moscow may agree only to a three-month extension, three sources familiar with the matter said. Russian Energy Minister Alexander Novak told his Saudi counterpart Khalid al-Falih when the two met in Baku this month that he cannot guarantee an extension to the end of 2019, the sources said.

Mar 29 - Japanese refiners halt Iran oil imports as waiver expiry looms
Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on U.S. sanctions, according to industry sources and data on Refinitiv Eikon. The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires in early May. However, Japanese refiners want to ensure enough time for all cargoes already loaded to arrive in Japan and for payments to be completed.

Mar 29 - Australia is enjoying a windfall commodities boom, but it won't last: Russell
The good news for Australia is that it can expect a flood of cash from resource exports this fiscal year because of rising exports and relatively strong prices for iron ore, coal and liquefied natural gas (LNG). The bad news is this windfall is unlikely to be sustained for long, and export earnings are likely to fall in four of the five years after the current 2018/19 fiscal year.

Mar 29 - U.S. orders foreign firms to further cut down on oil trades with Venezuela
The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. The move comes as Washington's efforts to oust President Nicolas Maduro in favour of opposition leader Juan Guaido have stalled, and is further evidence of how it is leaning on non-U.S. firms to achieve its foreign policy goals.

Mar 29 - Trump calls for OPEC to boost oil production, says price too high
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity. "Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!" Trump wrote in a post on Twitter.

Mar 29 - U.S. EPA likely to release decisions on 2018 small refinery waivers in April - sources
The U.S. Environmental Protection Agency is likely to release its decisions on applications for small refinery waivers from the U.S. biofuel laws for 2018 in April, three sources familiar with the matter said on Thursday. One of the sources said the 2018 waiver decisions could come in a couple of weeks. But refiners were expecting to find out about their petitions before the end of the month, which is the deadline for proving compliance under the U.S Renewable Fuel Standard for the 2018 calendar year.

Mar 28 - Uncovering Iran's sanctions-busting sale of fuel oil on the high seas
It was a quiet day in January, and many oil traders were still on holiday, when two sources in the industry called to alert me to something unusual - a supertanker that had gone off radar for two weeks appeared off the coast of the United Arab Emirates and was pumping out fuel oil to two smaller vessels. The sources said it appeared that the supertanker was selling Iranian oil in violation of U.S. sanctions. If confirmed, the sale would shine a rare light on how traders and shippers were evading the sanctions. Click here to read full stories

Mar 28 - Saudi Aramco to buy SABIC in $69 bln chemicals megadeal
The world's largest oil producer Saudi Aramco has agreed to buy a 70 percent stake in Saudi Basic Industries Corp (SABIC) from the kingdom's wealth fund for $69.1 billion in one of the biggest deals in the global chemical industry. The agreement to help boost Aramco's downstream growth plans comes after months of talks between Aramco and the Public Investment Fund (PIF), which contributed to the delay of Aramco's planned multi-billion dollar initial public offering. Click here to read full stories

Mar 28 - Mitsui to produce more heavy crude oil in 2019
Japanese trading company Mitsui & Co will produce more heavy crude oil this year once projects in Australia and Italy are completed, a senior company official said, in part boosting its ability to provide low sulphur marine fuel. Heavy crude production from the Tempa Rossa project in Italy could start soon, while the Greater Enfield project in Australia is on track to resume production by the middle of this year, Yuji Kikkawa, general manager of strategic planning for Mitsui's energy business units, told Reuters. Click here to read full stories

Mar 28 - Oil traders wait to assess impact of IMO regulations - Kemp
If oil traders and consumers are worried about the impact of new maritime fuel regulations from the start of next year, they have not yet started to mark up prices for low-sulphur middle distillate fuels. Under new rules agreed by the International Maritime Organization (IMO), ships will be forced to switch to using low-sulphur fuels rather than high-sulphur residual fuel oil, or fit scrubbers to remove sulphur dioxide emissions. Click here to read full stories

Mar 28 - China bucking global shift from coal-fired power - environmental study
China restarted construction on more than 50 gigawatts (GW) of suspended coal-fired power plants last year, bucking a global shift away from fossil fuels, a new study showed on Thursday. China has repeatedly pledged to reduce its reliance on coal, a major source of smog and climate-warming greenhouse gases, and it has already cut coal's share of its total energy mix to 59 percent, down from 68.5 percent in 2012. Click here to read full stories

Mar 28 - Australia's east faces gas shortage from 2024, market operator warns
Australia will face a gas shortage from 2024 unless new reserves are developed, pipeline capacity is increased or eastern states start importing liquefied natural gas, the country's energy market operator warned on Thursday. The Australian Energy Market Operator's (AEMO) annual gas outlook was more dire than in June last year, when it forecast no shortage before 2030. Since then, companies have cut reserve and production estimates, AEMO said. Click here to read full stories

Mar 27 - Bakken, Niobrara crude flows to Cushing slow, boosting prices
Crude flows from the Bakken and Niobrara shale basins to Cushing, Oklahoma slowed in March due to winter production outages, dealers said, helping support prices both regionally and at the delivery point for U.S. crude futures. Production climbed in North Dakota's Bakken shale patch and the Rockies' Niobrara region in March, and is expected to reach new peaks in April, according to U.S. Energy Department data. Click here to read full stories

Mar 27 - Activity halted at Venezuela's oil port, upgraders after blackout - sources
Venezuela's main oil export port of Jose and four crude upgraders have been unable to resume operations following a power blackout on Monday, according to industry workers and a union leader close to the facilities. The most recent oil shipment for export, on the carrier Dragon chartered by Russia's Rosneft, left Jose, which is owned by state-run PDVSA, on March 24, according to Refinitiv Eikon vessel-tracking data and PDVSA's trade documents. Click here to read full stories

Mar 27 - U.S. oil projects begin to falter as producers curb spending
The number of pipeline and storage terminal projects proposed to move shale to the U.S. Gulf Coast has dwindled amid steps by oil producers to pare exploration spending. Last year, booming West Texas production overwhelmed existing pipelines out of the region, sinking local prices and helping launch nine projects proposing to add 5.4 million barrels per day (bpd) through the first half of 2021. Click here to read full stories

Mar 27 - Top traders see oil price sustained by tighter market in H2 2019
Four of the world's biggest traders expect the Brent oil price in 2019 to largely linger in the $60s a barrel with a slight rise in the second half of the year due to a tightening market, they said on the sidelines of the FT Commodities Global Summit. Glencore's head of oil Alex Beard expects Brent to stay in the mid-$60s while Gunvor chief executive Torbjorn Tornqvist saw $60s to low $70s a barrel. Click here to read full stories

Mar 26 - Stalled Aramco IPO sets back deal-making at U.S. subsidiary Motiva
Saudi Aramco's delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share. After dissolving a partnership with Royal Dutch Shell PLC two years ago, Motiva set out to rebuild and boost market share in the Americas. It evaluated deals for LyondellBasell Industries NV's  Houston refinery, with the Caribbean government of Curacao, and considered expanding its sole U.S. oil refinery. Click here to read full stories

Mar 26 - Trading firm Trafigura sees oil price rising to $70s/bl in 2020
Global commodities trader Trafigura Group sees Brent oil staying around current levels, about $66-$67 a barrel, or slightly higher for the rest of the year, and rising to the $70s in 2020, its co-head of oil trading Ben Luckock said on Monday. "We're gently bullish. We have a more stable and almost sensible market. We traded between $50 and $87 a barrel last year. $87 was probably too much ... The Iranian oil waivers caught many people by surprise," Luckock told a briefing for journalists at the company's Geneva headquarters. Click here to read full stories

Mar 26 - South Korean officials to press for Iran sanctions waiver in United States
South Korean government officials are expected to press for extending a sanctions waiver on Iran's petroleum exports that expires in May on a visit to Washington this week. South Korea's Deputy Foreign Minister for Economic Affairs Yoon Kang-hyun and other leaders will meet with U.S. State Department officials on Wednesday and Thursday to discuss the waiver issued in November to keep buying Iranian oil in exchange for having reduced such purchases, the Seoul government said in a news release on Monday. Click here to read full stories

Mar 26 - Texas refineries cut output as petrochemical spill curbs shipping
Royal Dutch Shell Plc and LyondellBasell Industries cut production on Monday at their Houston-area oil refineries because of shipping disruptions along a waterway affected by a petrochemical fire and spill, according to people familiar with the matter. A fire and fuel leak at Mitsui & Co Inc's, Intercontinental Terminals Co (ITC) storage facility in Deer Park, Texas, last week sent gasoline, water and fire suppressant foam into the Houston Ship Channel, which connects Houston to the Gulf of Mexico, and is home to nine oil refineries. Click here to read full stories

Mar 26 - China's ShFE launches crude oil futures index; plans more products
China's Shanghai Futures Exchange (ShFE) will start on Tuesday publishing an index linked to the prices of its crude oil futures contracts, a year after the launch of futures trading, the ShFE said in a release posted on its WeChat channel. The crude oil futures index will measure the price movements and the rate of return for the most actively traded contract for the ShFE's crude futures, according to the release. Click here to read full stories

Mar 25 - U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Those two companies produce notable amounts of crude oil that refiners have settled on as the immediate replacement for the heavy Venezuelan crude that U.S. refiners relied on for years.  Click here to read full stories.

Mar 25 - More shale, who cares? Saudi Arabia pushes for at least $70 oil
Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of global crude markets might be further eroded. Riyadh, OPEC's de facto leader, said it was steeply cutting exports to its main customers in March and April despite refiners asking for more of its oil.  Click here to read full stories.

Mar 25 - LNG supply glut, price slump should raise questions over future projects: Russell 
The slump in the spot price of liquefied natural gas (LNG) in Asia to its lowest in three years should give pause for thought to the slew of companies planning new ventures to produce the super-chilled fuel. But it probably won't. The spot price for LNG delivered to Northeast Asia dropped to $4.65 per million British thermal units (mmBtu) in the week to March 21, the lowest since May 2016. Click here to read full stories.

Mar 25 - U.S. warns it can act against people helping Iran evade energy sanctions
The United States reserves the right to take action against any person helping Iran evade U.S. sanctions on energy shipments, a State Department official said on Friday. The official, who spoke on condition of anonymity, was responding to a request for comment on a Reuters report this week that at least two tankers have sent Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments.  Click here to read full stories.

Mar 25 - China's Sinopec lifts upstream capex to four-year high, plans record crude runs
Asia's top refiner China Petroleum & Chemical Corp (Sinopec) boosted spending on exploration and production by 41 percent last year as crude oil reserves tumbled at its biggest oilfield. Sinopec's upstream capital expenditure rose to 59.6 billion yuan ($8.9 billion), its highest since 2014, as the company prepares to ramp up exploration at the Shengli oilfield and shale gas blocks in the southwestern Sichuan province. Click here to read full stories.

Mar 25 - India's Reliance says not breaching U.S. sanctions against Venezuela
India's Reliance Industries, operator of the world's largest oil refining complex, on Friday said in a statement it was not breaching U.S. sanctions against Venezuela. The company said its recent fuel exports to Venezuela were agreed to before Washington imposed sanctions in January, and that they were meant to settle Reliance's crude oil imports from Venezuela. Click here to read full stories.

Mar 25 - Hedge funds boost bullish U.S. crude wagers - CFTC
Hedge funds and other money managers raised their net long U.S. crude futures and options positions in the latest week as crude futures touched four-month highs, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 50,210 contracts to 214,105 during the period to March 19. This was the fourth consecutive increase. Click here to read full stories.

Mar 25 - U.S. oil drillers cut rigs for fifth week in a row -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output. Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 22 - Iran's oil exports fall in March even before further U.S. clampdown - sources
Iran's oil exports have dropped in March to their lowest daily level this year, according to tanker data and industry sources, even before Washington formally requires importing countries to reduce purchases to avoid infringing U.S. sanctions. Shipments are averaging between 1.0 and 1.1 million barrels per day (bpd) so far this month, according to Refinitiv Eikon data and three other companies that track Iranian exports. Click here to read full stories.

Mar 22 - China to cut coal from new green bond standards - sources
Chinese regulators are close to releasing new "green bond" standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters. Beijing has in recent years promoted new green financing methods to help industry pay for its transition to cleaner modes of growth. Click here to read full stories.

Mar 22 - A tale of two projects: Mozambique LNG terminals echo global risks
Mozambique, one of the world's poorest nations, is set to become a top global gas exporter thanks to two huge terminals about to be built in a northern province. The two liquefied natural gas (LNG) projects, by Anadarko and Exxon Mobil, will extract, liquefy and ship gas, found in such quantities offshore Mozambique that it amounts to a decade's worth of European consumption. Click here to read full stories.

Mar 22 - Houston suburbs lift travel restrictions imposed after petrochemical fire
Two Houston-area cities told residents to stay indoors and closed schools on Thursday due to air pollution from a petrochemical plant fire, then lifted the travel restrictions after airborne levels of the chemicals abated. The three-day blaze at Mitsui unit Intercontinental Terminals Co (ITC) in Deer Park, Texas, was extinguished on Wednesday after sending a plume of smoke over the area from 11 burning fuel tanks. Click here to read full stories.

Mar 21 - Reliance selling fuels from India to Venezuela to avoid U.S. sanctions 
India's Reliance Industries, operator of the world's biggest refining complex, has turned to selling fuels to Venezuela from India and Europe to circumvent sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha, and other fuel to Venezuela though its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member's oil exports and ousting Socialist President Nicolas Maduro. Click here to read full stories.

 Mar 21 - U.S. crude stockpiles slump unexpectedly on strong export, refining demand - EIA 
U.S. crude oil stockpiles last week fell by nearly 10 million barrels, the most since July, boosted by strong export and refining demand, the Energy Information Administration said on Wednesday. Refined product inventories also fell more than expected. Crude inventories fell by 9.6 million barrels in the week to March 15, surprising analysts who had expected an increase of 309,000 barrels, according to a Reuters poll. Click here to read full stories.

 Mar 21 - Qatar asks IAEA to intervene over 'threat' posed by UAE nuclear plant 
Qatar has called on the International Atomic Energy Agency (IAEA) to intervene in a dispute over a $24 billion nuclear power plant which the United Arab Emirates (UAE) is building. Relations between Qatar and its neighbour are already strained after the UAE, Saudi Arabia, Egypt and Bahrain severed diplomatic, trade and transport ties with Doha in June 2017 over allegations that it supports terrorism, a charge Qatar denies. Click here to read full stories.

Mar 20 - How Iran fuel oil exports beat U.S. sanctions in tanker odyssey to Asia 
At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders. The shipments were loaded onto tankers with documents showing the fuel oil was Iraqi. But three Iraqi oil industry sources and Prakash Vakkayil, a manager at United Arab Emirates (UAE) shipping services firm Yacht International Co, said the papers were forged. Click here to read full stories.

Mar 20 - Asia's coal, LNG price slump serves notice to oil markets 
Sharp falls in Asian coal and gas prices over the past six months are a reminder to oil markets on where prices could go in the absence of OPEC-led supply cuts or any pull-back in U.S. sanctions, analysts said. Benchmark coal and liquefied natural gas (LNG) prices in Asia have slumped amid healthy supply and only tepid demand, leaving some producers struggling to find a home for their products. Click here to read full stories.

Mar 20 - Oil majors rush to dominate US shale as independents scale back 
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles. Workers at its Remuda lease near Carlsbad - part of a staff of 5,000 spread across New Mexico and Texas - are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines. Click here to read full stories.

Mar 20 - Ship owners worry about clean fuel bill as ports ban "scrubbers" 
More ports around the world are banning ships from using a fuel cleaning system that pumps waste water into the sea, one of the cheapest options for meeting new environmental shipping rules. The growing number of destinations imposing stricter regulations than those set by the International Maritime Organization (IMO) are expected to be a costly headache for cruise and shipping firms as they face tough market conditions and slowing world trade. Click here to read full stories.

Mar 19 - Global spot LNG prices slide below $6/MMBtu (ICIS)
     Global LNG markers dropped below $6/MMBtu over the last four weeks, with prices in major import regions closely aligned, limiting the potential for arbitrage between Atlantic and Pacific basins. Mild weather in north Asia and Europe has reduced heating demand, while new liquefaction projects continue to make progress, boosting supply.
     The East Asia Index (EAX) for April spot deliveries to Japan, China, South Korea and Taiwan slid from $6.30/MMBtu in mid-February to $5.40/MMBtu in mid-March. The monthly average of $5.994/MMBtu was down 18% from the previous month and 29% from the previous year

Mar 19 - OPEC scraps April meeting but keeps oil cuts in place 
Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. A ministerial panel of OPEC and its allies recommended that they cancel the extraordinary meeting scheduled for April 17-18 and hold the next regular talks on June 25-26. Click here to read full stories.

Mar 19 - Venezuela may divert U.S.-bound oil to Rosneft, says Jose generator working 
Venezuela may divert oil originally bound for the United States to Russian oil company Rosneft or other destinations due to U.S. sanctions, Venezuelan oil minister and president of state-run oil company PDVSA Manuel Quevedo said on Monday. Speaking at a gathering of OPEC and other oil ministers in Baku, Azerbaijan, Quevedo added that the generator at Venezuela's primary Jose oil terminal was now working after a blackout that halted crude exports last week. Click here to read full stories.

Mar 19 - U.S. shale output seen rising to record 8.59 mln bpd in April -EIA 
U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day in April to a record 8.59 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. Although April's total, if accurate, would be a record high, the increase continues a pattern of shrinking gains since September and would be the smallest monthly increase since May 2018, when drillers boosted output by just 25,900 bpd. Click here to read full stories.

Mar 19 - Mexico's Pemex plans to triple oil well drilling this year to boost output 
Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production. The government-funded plan involves drilling 506 new wells spread across 20 recently-discovered fields, according to a presentation from Pemex CEO Octavio Romero. That would be more than three times the number of wells Pemex drilled in 2018. Click here to read full stories.

Mar 19 - Surging LNG imports drive down British wholesale gas prices 
Britain's imports of liquefied natural gas (LNG) for March are at their highest levels since October 2015, helping British wholesale gas prices slide to a more than 18-month low. Britain is set to receive 14 cargoes in March, with six tankers scheduled for this week. The country is on track to import 1.18 million tonnes of LNG this month, amounting to 1.63 billion cubic metres of gas or 52 million cubic metres a day. Click here to read full stories.

Mar 19 - Texas petrochemical storage fire rages, may burn for two days 
A fire at a Houston-area petrochemical storage site continued to rage late on Monday and is expected to burn for up to two more days, officials said, sending thick black smoke into the air for miles around. Firefighters were making progress seeking to contain the blaze at Intercontinental Terminals Co (ITC), with the number of giant storage tanks on fire reduced to six from seven earlier, said ITC spokeswoman Alice Richardson. Click here to read full stories.

Mar 19 - Canada's Alberta increases crude output limit for May and June 
The Canadian oil-producing province of Alberta will increase crude production limits by 25,000 barrels per day in May and a further 25,000 bpd in June, the government said on Monday. The increases mean that by June, oil companies will be limited to 3.71 million bpd of production. Alberta mandated production cuts this year to ease congestion on export pipelines that resulted in crude getting bottlenecked in storage and the discount on Canadian heavy crude widening to record levels. Click here to read full stories.

Mar 18 - Saudi signals OPEC may need to extend oil cuts until end-2019 
Saudi Arabia said on Sunday OPEC's job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signalling it may need to expand output cuts into the second half of 2019. Russia, which is cutting oil output in tandem with OPEC, also said production cuts would stay in place at least until June, when Washington's next steps on reducing Iran's and Venezuela's oil exports become clearer. Click here to read full stories.

Mar 18 - Wastewater - private equity’s new black gold in U.S. shale 
Mike Christensen strides among rows of gleaming steel tanks, pointing to pipelines that arrive from miles around to this corner of former farmland near Midland, Texas, the heart of the largest oil patch in the United States. His company is one of dozens opening sites like this one that handles, not the lucrative oil, but the shale industry's dirty secret: wastewater. Click here to read full stories.

Mar 18 - Iran's Rouhani inaugurates four new phases of South Pars gas field 
Iranian President Hassan Rouhani formally inaugurated four new phases of South Pars, the world’s largest gas field, on Sunday, according to a statement posted by the Iranian oil ministry on Twitter. Iran has invested $11 billion to complete the four phases and they will increase the country’s gas production capacity by up to 110 million cubic meters per day, the statement said. Click here to read full stories.

Mar 18 - All the world a stage: Rising U.S. oil clout on show in Houston 
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics. Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials, and most OPEC nations. Click here to read full stories.

Mar 18 - Chinese go-slow on Australian coal imports may be starting to show: Russell 
China's unofficial go-slow on clearing Australian coal through customs didn't show up in the first two months of this year, but it may now be starting to have an impact. Chinese coal traders are reported to have cut back on buying from Australia, the world's largest exporter of the fuel, after the length of time taken by customs to clear cargoes reportedly doubled to at least 40 days.  Click here to read full stories.

Mar 18 - IEA sees oil market flipping into deficit in second quarter 
The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday. The IEA, which coordinates the energy policies of industrialised nations, kept its forecast of growth in global oil demand this year unchanged at 1.4 percent, or 1.4 million barrels per day (bpd). Click here to read full stories.

Mar 18 - Hedge funds increase long U.S. crude bets - CFTC 
Hedge funds raised bullish wagers on U.S. crude futures and options positions in the latest week as prices rose, buoyed by signs of tightening global supply, the U.S. Commodity Futures Trading Commission said on Friday. The speculator group raised its combined futures and options position in New York and London by 8,471 contracts to 163,898 during the week to March 12. Click here to read full stories.

Mar 18 - U.S. oil rig count falls to lowest since April 2018 - Baker Hughes 
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts. Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.  Click here to read full stories.

Mar 15 - Fearing new oil glut, OPEC builds case for keeping supply cuts 
OPEC on Thursday cut the forecast of global demand for its oil this year as rivals boost production, building a case for extending supply curbs beyond June to stop any new glut. Continued supply reductions would further support oil prices, which are up about 25 percent this year at $68 a barrel, and incur the wrath of U.S. President Donald Trump, who has demanded OPEC ease its efforts to bolster the market. Click here to read full stories.

Mar 15 - How Russia sank billions of dollars into Venezuela quicksand 
At the end of 2015, managers at Rosneft, the Russian state-controlled oil firm, sounded the alarm to their bosses about the company's investments in Venezuela. Rosneft's local partner, Venezuelan state oil company PDVSA, owed it hundreds of millions of dollars, according to internal documents, and there seemed no prospect things would get better. "It will be like this for eternity," a Rosneft internal auditor wrote in an email to a colleague in November 2015, complaining there was no progress in getting PDVSA to explain a $700 million hole in the balance sheet of a joint venture. Click here to read full stories.

Mar 15 - U.S. acts to keep Citgo operating in face of Venezuela sanctions 
The U.S. Treasury on Thursday gave U.S. refiner Citgo Petroleum Corp a further 18 months to buy crude and make debt payments while under sanctions against its parent, Venezuelan state-run energy firm Petróleos de Venezuela (PDVSA). The United States levied sanctions in January on PDVSA and Venezuela aimed at the removal of socialist President Nicolas Maduro, whom the United States and about 50 other countries no longer recognize as the country's legitimate leader.  Click here to read full stories.

Mar 15 - S.Korea's Feb Iran oil imports down 12.5 pct on-year 
South Korea's oil imports from Iran fell 12.5 percent year-on-year in February, customs data showed on Friday, as it resumed buying from the Middle Eastern nation under a waiver from U.S. sanctions, which restricted trading volumes. South Korea shipped in 983,497 tonnes of crude from Iran in February, or 256,412 barrels per day (bpd), compared to 1.12 million tonnes a year earlier, according to the customs data. February imports more than quadrupled from January volumes of 227,941 tonnes. Click here to read full stories.

Mar 15 - Environmental review could delay Carlyle deepwater oil export project up to 18 months 
A Carlyle Group $1 billion deepwater crude export project faces a delay of up to 18 months after regulators called for a full environmental review, officials said, a setback in the private equity firm's race to be first to open a new deepwater, U.S. Gulf Coast export hub. Carlyle and commodities trader Trafigura AG are vying to open the first Texas port in Corpus Christi that can fully load supertankers.  Click here to read full stories.

Mar 15 - India LNG demand journey to be shaky, slow due to infrastructure limits 
India's demand for liquefied natural gas (LNG) is set to rise by about 10 percent this year even as the country adds import capacity at a faster clip, because infrastructure constraints keep gas from getting to consumers and hinder growth rates. New Delhi made a commitment in the Paris Agreement of 2015 to reduce the carbon emissions intensity of India's economy by one-third, and aims to more than double the share gas has in its energy mix to 15 percent by 2030, from 6.2 percent now. Click here to read full stories.

Mar 15 - Despite Andean sun, renewable energy in Colombia faces cloudy outlook 
The 36,000 solar panels gleam in the tropical heat of a valley outside the city of Yumbo in western Colombia, feeding dozens of megawatts to a nearby soft drinks factory as well as the national grid. The solar farm, built on the site of a former coal plant, is one of two mounted by electricity generator Celsia - the first such commercial farms in the South American country. Click here to read full stories.

Mar 14 - U.S. aims to cut Iran oil exports to under 1 mln bpd from May - sources 
The United States aims to cut Iran's crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters. U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran's main source of revenue. Washington is pressuring Iran to curtail its nuclear program and stop backing militant proxies across the Middle East. Click here to read full stories.

Mar 14 - Oil storage tanks explode in Venezuela, while main terminal resumes shipments 
Two storage tanks exploded at a heavy-crude upgrading project in eastern Venezuela on Wednesday, according to an oil industry source and a legislator, while the country's main oil terminal resumed shipments after a prolonged blackout. The tanks at the Petro San Felix project were holding diluent, which is mixed with extra-heavy Orinoco belt heavy crude to make it lighter, legislator Jose Brito said in a telephone interview. Click here to read full stories.

Mar 14 - China's Jan-Feb refinery runs hit record, gas output up 9 pct on-yr 
Crude throughput at China's oil refineries in the first two months of 2019 rose 6.1 percent from a year earlier to a record on a daily basis, data showed on Thursday, as new privately-owned refiners started up their processing facilities. China's refiners processed 102.49 million tonnes of crude oil during January and February, according to the data from the National Bureau of Statistics (NBS).  Click here to read full stories.

Mar 14 - Exxon eyes Israel gas bid in major Middle East shift 
Exxon Mobil Corp is considering exploring for oil and gas in Israel, said a person with direct knowledge of the matter, in what would make Exxon the first oil major to operate in the country still technically at war with Gulf Arab states. A number of large gas discoveries offshore Israel and in nearby eastern Mediterranean waters in the last decade have made Israel a potentially lucrative prospect for big energy firms. The region is emerging as a new hot spot for gas exploration and production. Click here to read full stories.

Mar 14 - Reliance halts diluents export to Venezuela, not raised oil buying 
India's Reliance Industries Ltd, operator of the world's biggest refining complex, said on Wednesday it had halted supply of diluents to Venezuela's national oil company PDVSA and will not resume such sales until sanctions are lifted. Washington is preparing to impose "very significant" Venezuela-related sanctions against financial institutions in the coming days, U.S. special envoy Elliott Abrams said on Tuesday.  Click here to read full stories.

Mar 14 - Large-scale solar power set for double-digit growth - Goldman Sachs 
Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, U.S. bank Goldman Sachs said on Thursday. Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and natural gas as governments and companies increasingly introduce clean energy targets. Click here to read full stories.

Mar 14 - First coal, now LNG jolted by climate change measures in Australia: Russell 
The concept that producers of fossil fuel will have to pay for the carbon emissions created by their use is something the industry will no doubt fight tooth and nail, but two recent developments in Australia show the battle may be starting. Australian liquefied natural gas (LNG) major Woodside Petroleum reacted angrily to recent moves by the environmental regulator in Western Australia state to require that projects offset their emissions. Click here to read full stories.

Mar 14 - U.S. crude stockpiles drop unexpectedly last week - EIA 
U.S. crude oil stockpiles declined unexpectedly last week as output slipped from record highs and refining rates edged up, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.9 million barrels in the last week, compared with analysts' expectations for an increase of 2.7 million barrels. Click here to read full stories.

Mar 14 - Deadly 2017 wildfire found sparked by So. California Edison power lines 
The devastating Thomas Fire that killed two people and destroyed more than 1,000 structures northwest of Los Angeles in December 2017 was sparked by power lines owned by Southern California Edison Co, fire officials said on Wednesday. An investigation of the fire's origins found that high winds blew Edison power lines into one another, creating an electrical arc that "deposited hot, burning or molten material" into dry vegetation on the ground, setting off the blaze, the Ventura County Fire Department said in a statement. Click here to read full stories.

Mar 13 - Venezuela's Guaido readies to open up oil industry after years of nationalization 
Venezuelan congress head Juan Guaido is preparing a groundbreaking reversal of late President Hugo Chavez's energy industry nationalization, allowing private companies a bigger role in its oilfields and shrinking state-run PDVSA, according to opposition advisers and a draft seen by Reuters. To Guaido, the self-declared interim president seeking to oust President Nicolas Maduro, the proposal is vital to reverse the collapse of the OPEC-member nation's oil industry. Click here to read full stories.

Mar 13 - Iran hunts for more ships to keep its oil flowing 
Iran is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as U.S. sanctions start to bite, Iranian and Western sources said. Since U.S. President Donald Trump reimposed sanctions in November, exploratory talks with South Korea for up to 10 new supertankers have stalled, Panama has removed at least 21 Iranian tankers from its registry and Tehran is now looking for extra vessels in places such as Vietnam, the sources said. Click here to read full stories.

Mar 13 - Pompeo calls on oil industry to support U.S. foreign policy agenda 
U.S. Secretary of State Mike Pompeo urged the oil industry on Tuesday to work with the Trump administration to promote U.S. foreign policy interests, especially in Asia and in Europe, and to punish what he called "bad actors" on the world stage. Addressing top executives of the world's largest energy companies and oil ministers in Houston, Pompeo said in prepared remarks that America's newfound shale oil and natural gas abundance would "strengthen our hand in foreign policy." Click here to read full stories.

Mar 13 - Iraq's SOMO drops partners, elbows its way into oil trading 
Iraq's state oil marketer SOMO has scrapped two joint ventures (JVs) and reduced contracts with some European customers to push its way into trading by selling more of its crude ad hoc, trading and industry sources said. After years of watching oil majors and independent traders benefit from large trading operations, state oil firms in North Africa and the Middle East have decided to grab back what they see as lost potential revenues. Click here to read full stories.

Mar 13 - U.S. shale oil may be the answer to Asia's heavy crude problem: Russell 
The historic discount that Asian buyers have enjoyed on heavier crudes has evaporated recently as such grades become scarcer, but it may just be that the answer lies in more light oil. Prices for heavier grades of crude have risen faster relative to light oils in Asia as the market tightens amid renewed U.S. sanctions against Iran, the ongoing political disintegration of Venezuela, and production curbs by OPEC and its allies. Click here to read full stories.

Mar 13 - EIA cuts forecast for 2019 U.S. crude output growth 
U.S. crude oil production is expected to grow slower than previously expected in 2019 and average about 12.30 million barrels per day (bpd) the U.S. Energy Information Administration (EIA) said on Tuesday. Production is expected to rise 1.35 million bpd from the prior year, but grow more slowly than the agency's previous forecast of a 1.45-million bpd rise. Click here to read full stories.

Mar 13 - Trump's EPA unveils plan to pump up ethanol as Big Oil cries foul 
The U.S. Environmental Protection Agency on Tuesday released its proposed rule lifting a summer ban on higher-ethanol blends of gasoline to help farmers, putting the agency on a collision course with Big Oil which has called the move illegal. The proposal to broaden sales of the so-called E15 rule marks the latest flashpoint in an ongoing battle between the corn and oil industries - two crucial constituencies for President Donald Trump - over America's biofuels policy. Click here to read full stories.

Mar 13 - Talk to 'Green New Deal' backers, BP CEO tells oil industry 
The oil industry should engage with proponents of the "Green New Deal," a Democratic initiative seeking to radically reduce U.S. dependence on fossil fuels, BP Chief Executive Officer Bob Dudley said on Tuesday. Dudley made the rare foray into U.S. politics in a keynote speech at the largest U.S. annual gathering of the oil and natural gas sector in Houston, urging peers to engage with young people or lose the trust of society. Click here to read full stories.

Mar 13 - PG&E spared criminal charges in deadly 2017 California wildfires 
An investigation into fierce wildfires that swept Northern California's wine country in 2017, killing 46 people, found no basis to criminally charge PG&E, the utility whose power lines helped spark the conflagration, prosecutors said on Monday. The decision, which leaves the company potentially liable for billions of dollars in civil damages, capped a review by the district attorneys of Sonoma, Napa, Humboldt and Lake Counties, as well as the state attorney general's office, according to a joint statement. Click here to read full stories.

Mar 12 - Barkindo says OPEC has helped U.S. shale, as the two plan to meet again 
U.S. shale companies have benefited from the supply-cut efforts from OPEC and its allies that boosted prices, OPEC Secretary General Mohammed Barkindo said during a Houston energy conference on Monday. His comments came ahead of an OPEC meeting with U.S. oil producers for the third straight year at IHSMarkit's CERAWeek conference, though this sit-down has attracted less attention than in past years. Click here to read full stories.

Mar 12 - Citgo, Valero try to return Venezuelan oil following sanctions -document 
The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions on the South American nation and its state-run energy firm PDVSA. PDVSA's U.S. refining subsidiary Citgo Petroleum Corp and Valero Energy are proposing to return 2 million barrels of crude loaded before sanctions, while a third U.S. oil company, Chevron Corp, has sought so far unsuccessfully to legally pay for 4.3 million barrels, according to an internal PDVSA document seen by Reuters. Click here to read full stories.

Mar 12 - IEA sees U.S. leading global oil supply growth to 2024 
The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day to the country's already booming output, the International Energy Agency said on Monday. U.S. oil output, including natural gas liquids (NGLs) and other hydrocarbons, will climb to 19.6 million bpd by 2024 from 15.5 million last year, the Paris-based agency said. Click here to read full stories.

Mar 12 - Pakistan to offer gas fields to foreign explorers, investors - official 
Pakistan plans to offers dozens of gas field concessions in the coming year to fill in a fuel shortage, a senior official said, with Islamabad hoping a sharp drop in militant violence and changes to exploration policy will attract foreign investors. Much of the mineral-rich South Asian nation remains unexplored despite gas discoveries dating back to the 1950s. Conventional gas reserves are estimated at 20 trillion cubic feet (tcf), or 560 billion cubic meters, and shale gas reserves, which are untouched, at more than 100 tcf. Click here to read full stories.

Mar 12 - Chinese energy exec sees room for cooperation with U.S.  
China's demand for natural gas leaves room for greater cooperation with the United States once a trade dispute is resolved, a China National Petroleum Corp Ltd executive said on Monday, citing ongoing talks on liquefied natural gas. China cut its U.S. LNG purchases last year after a trade dispute flared, causing the Trump administration to levy tariffs on Chinese goods and China to counter with a 10 percent tariff on imports of U.S. LNG. Click here to read full stories.

Mar 11 - Saudi's Falih says no OPEC+ output policy change until June 
Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group's meeting in April and that China and the U.S. would lead healthy global demand for oil this year. The Organization of the Petroleum Exporting Countries and its allies such as Russia -- known as the OPEC+ alliance -- will meet in Vienna on April 17-18, with another gathering scheduled for June 25-26. Click here to read full stories.

 Mar 11 - U.S. presses India to stop buying oil from Venezuela's Maduro - envoy 
The United States is pressing India to stop buying oil from Venezuelan President Nicolas Maduro's government, Washington's top envoy for Venezuela said, as the Trump administration this week threatened more U.S. sanctions to cut off Maduro's financial lifelines. "We say you should not be helping this regime. You should be on the side of the Venezuelan people," Elliott Abrams told Reuters in an interview. Click here to read full stories.

 Mar 11 - Oil majors strut into Houston for annual energy conference 
The oil industry converges this week on Houston at CERAWeek, the largest gathering of top energy executives in the Americas, with oil majors showing a bigger presence as the United States has taken the crown as the largest crude producer in the world. After a year that saw international crude oil prices surge to more than $87 a barrel in the fall then tumble, the market has been calmer of late, even with production limitations imposed by a combination of OPEC's output cuts and large-scale sanctions placed on Iran and Venezuela by the United States. Click here to read full stories.

Mar 11 - Occidental emerges as heavy hitter in U.S. oil export boom 
Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 million every day. It is showing no signs of slowing down, with plans to double crude exports to 600,000 barrels per day in 2020, Cynthia Walker, senior vice president midstream and marketing at Occidental, said in an interview. Click here to read full stories.

Mar 11 - Nerves fray, tempers flare as Venezuela blackout hits fourth day 
Furious Venezuelans lined up to buy water and fuel on Sunday as the country endured a fourth day of a nationwide blackout that has left already-scarce food rotting in shops, homes suffering for lack of water and cell phones without reception. Authorities have managed to provide only patchy access to power since the outage began on Thursday in what President Nicolas Maduro called an act of U.S.-backed sabotage, but critics insist it is the result of incompetence and corruption. Click here to read full stories.

Mar 11 - Hedge funds raise bullish U.S. crude bets - CFTC 
Hedge funds and other speculators raised their bullish bets on U.S. crude in the latest week as prices firmed on hopes of a U.S.-China trade deal, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. The speculator group raised its combined futures and options position in New York and London by 21,416 contracts to 155,426 in the week ended March 5. Click here to read full stories.

Mar 11 - U.S. oil drillers cut rigs for third week in a row - Baker Hughes 
U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more. Drillers cut nine oil rigs in the week to March 8, bringing the total count down to 834, the lowest since May, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 08 - China's resilient commodity imports contrast with weak exports: Russell 

If the sharp plunge in China's exports in February shows anything, it's that a gap is opening between what the country is shipping out and its still resilient imports of major commodities. Exports dropped 20.7 percent in February from the same month a year earlier, the largest decline in three years and much bigger than the 4.8 percent fall forecast by analysts.  Click here to read full stories.

Mar 08 - China's Feb crude imports surge 22 pct; gas imports drop from Jan 

China's crude oil imports rose to the third-highest volume on record on a daily basis on increasing purchases by new private refineries, while natural gas imports eased as demand dropped amid warmer temperatures, customs data showed on Friday. China, the world's biggest crude oil importer, took in 39.23 million tonnes of crude oil last month, the data from the General Administration of Customs showed. Click here to read full stories.

Mar 08 - At Brazil's Petrobras, an uphill struggle to vanquish graft 

Five years after Brazilian prosecutors exposed a long-running bribes-for-contracts racket at state-run oil firm Petrobras, the company is proclaiming it has cleaned up its act. It has run TV spots touting its whistleblower hotline as well as a compliance department created in the wake of Brazil's epic "Car Wash" corruption scandal, which damaged the oil giant, helped tip Brazil into recession and landed a former president behind bars. Click here to read full stories.

Mar 08 - Goldman Sachs further shrinks commodities trading 

Goldman Sachs Group Inc, once one of the most active banks in commodities trading, has cut 10 roles to further downsize its global commodities trading division amid rising costs and shrinking profits. Three sources familiar with the matter said on Thursday the cuts were announced this week following an annual review of headcount across all divisions and regions. Goldman Sachs declined to comment. Click here to read full stories.

Mar 08 - Amid rising trade tensions with U.S., India wants to extend Iran oil sanctions waiver - sources 

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of U.S. sanctions past early May, two sources in India with knowledge of the matter said. India has reduced its purchases of Iranian oil, but has been in talks on extending a sanctions waiver, known as a significant reduction exception, a senior India official said in January.  Click here to read full stories.

Mar 08 - Venezuela's PDVSA says still working with German shipping firm 

Venezuela's state-run oil company PDVSA said on Thursday it has not halted business with maritime contractor Bernhard Schulte Shipmanagement (BSM), after the German firm notified it would remove crews operating 10 of 15 PDVSA vessels over unpaid fees and return the tankers. PDVSA's maritime arm PDV Marina declared an emergency on Tuesday due to lack of staff to immediately receive the vessels that BSM proposed to return to Venezuelan ports due to unpaid bills of at least $15 million. Click here to read full stories.

Mar 08 - US EPA aims to curb biofuel credit speculation by blocking outsiders 

The Environmental Protection Agency will attempt to stamp out speculation in the U.S. biofuel credit market by barring trading by non-industry players, publicizing large positions, and improving price transparency, a source familiar with the agency's proposals told Reuters on Thursday. The measures, included in a broader policy reform under review by the Trump administration, are intended to help U.S. oil refiners cope with the costs of complying with the U.S. Renewable Fuel Standard.  Click here to read full stories.

Mar 08 - U.S. LNG exports pick up, with Europe a major buyer 

Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far. But winter demand for gas is fading, while steady supplies of gas and LNG have kept inventories well stocked, depressing European gas hub prices. This has raised the question: how many more cargoes can Europe absorb? Click here to read full stories.

Mar 07 - Venezuela's PDVSA declares emergency as tankers returning - document 

Plans by the German operator of a portion of the Venezuelan state oil company's tanker fleet to return 10 vessels because of unpaid fees prompted a unit of state-run PDVSA on Tuesday to declare a maritime emergency, according to a document from the state-run firm and sources. PDVSA's weak finances, the result of mismanagement, a sharp decline in oil output and U.S. sanctions designed to oust President Nicolas Maduro, have prompted dozens of suppliers and partners to stop working for the company. Click here to read full stories.

Mar 07 - Exxon Mobil CEO sets plan to boost spending; shares dip 

Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company's shares fell after he laid out a strategy to "lean in" while the rest of the industry cuts back. Exxon shares fell more than 1 percent after the company told analysts attending its annual investor meeting that it plans to lift spending by 10 percent or more for the next several years as rivals are sidelining equipment and capping spending to boost shareholder returns. Click here to read full stories.

Mar 07 - Britain targets a third of electricity from offshore wind by 2030  

Britain plans to generate a third of its electricity from offshore wind farms by 2030 and boost the value of exports of offshore wind services and equipment to 2.6 billion pounds ($3.4 billion) a year, the government said on Thursday. Britain, which aims to lift industrial productivity as it leaves the European Union, is the world's biggest offshore wind market with almost 40 percent of global capacity. On and offshore wind turbines met 17 percent of UK power needs in 2018. Click here to read full stories.

Mar 07 - U.S. crude inventories rise more than expected - EIA 

U.S. crude oil stockpiles rose much more than expected last week, while gasoline and distillate inventories fell more than forecast, drawing down for the third consecutive week as refining rates remained low, the Energy Information Administration said on Wednesday. Crude inventories rose 7.1 million barrels in the week to March 1, far exceeding analysts' expectations for an increase of 1.2 million barrels. Click here to read full stories.

Mar 07 - Rosneft opens trading arm in Singapore as part of Asian pivot 

Rosneft is opening a trading arm in Singapore as part of a pivot to Asia, the world's biggest and fastest-growing energy-consuming region, where the Russian state oil major plans to manage new projects and boost oil sales. Six sources familiar with Rosneft's strategy told Reuters the arm, Rosneft Singapore, had been registered at the end of 2018 and that several employees would relocate from Moscow during the spring and summer of 2019. Click here to read full stories.

Mar 06 - Chevron, Exxon take turns wooing investors with shale boasts 

The two biggest U.S. oil companies tried to outdo each other on Tuesday, boasting about their prowess in shale to lure investors to their side. Chevron Corp and Exxon Mobil Corp released dueling Permian Basin projections that, if realized, would cement the rivals as the dominant players in the West Texas and New Mexico field, with one-third of Permian production potentially under their control within five years. Click here to read full stories.

Mar 06 - When insanity makes sense. Australia's best option is LNG imports: Russell 

Australia has painted itself into a corner with its natural gas industry and faces the stark reality that there are no easy choices to alleviate the dual problem of a looming supply crunch and the associated higher prices. Australia is far from the first country to find itself with an energy issue, but it is unusual insofar as the country is about to become the world's largest exporter of liquefied natural gas (LNG), and still it can't get its policy settings right to ensure domestic supplies. Click here to read full stories.

Mar 06 - Carlyle in final talks to clinch $3.4 bln deal for Cepsa stake -sources 

Private equity firm Carlyle Group is ahead of other contenders to buy a 30 percent stake in Spain's Cepsa for up to 3 billion euros ($3.4 billion), just four months after owner Mubadala shelved a listing of the energy company, three sources familiar with the matter told Reuters. Carlyle, whose energy and natural resources division includes funds such as Neptune Energy, could reach an agreement within weeks, one of the sources said. Click here to read full stories.

Mar 06 - United States and China inch towards limited trade deal: Kemp 

China and the United States appear to be inching towards a trade deal, with leaders in both countries anxious to avoid a further, politically unpopular slowdown in their economies. China has reportedly offered to boost its purchases of farm and energy products substantially while making more modest concessions on technology transfer, intellectual property, market access, industrial policy and subsidies. Click here to read full stories.

Mar 05 - OPEC likely to defer output policy decision until June - sources 

OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their supply cuts on the market by then, three OPEC sources said on Monday. The sources said the production policy by the so-called OPEC+ alliance is expected to be agreed on in June with an extension of the pact the likely scenario so far, but much depends on the extent of U.S. sanctions on both OPEC members Iran and Venezuela. Click here to read full stories.

Mar 05 - Hedge funds carry on buying oil despite Trump intervention: Kemp 

Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to "relax and take it easy". Hedge funds and other money managers were net buyers of an extra 16 million barrels of Brent crude futures and options in the week to Feb. 26, according to ICE Futures Europe. Click here to read full stories.

Mar 05 - Libya's NOC lifts force majeure at El Sharara oilfield 

Libyan state oil company NOC said on Monday it had lifted force majeure at the El Sharara oilfield, the country's biggest, which has been closed since December when state guards and tribesmen seized it. An oil engineer said oil production of the 315,000 barrels a day field was being restarted with a return to regular output expected in the next days, according to NOC. Click here to read full stories.

Mar 05 - Oil trader AOT Energy reviews Asia business plan 

Swiss commodities trader AOT Energy said on Tuesday it is reviewing its business plan in Asia and will restructure some business lines in the region. The move comes a year after the Zug-based group pared some staff in other regions and began talks with potential investors amid shrinking credit lines. Click here to read full stories.

Mar 05 - Australia's competition watchdog warns high gas prices threaten manufacturers 

Australia's gas prices are so high they could force the imminent shutdown of some manufacturing on the east coast, the nation's competition watchdog said on Tuesday, urging gas producers to step up output and offer reasonable prices. The warning comes three years after the Australian Competition and Consumer Commission first flagged prices were rising amid uncertainty over domestic gas supply, due to the start-up of liquefied natural gas (LNG) exports from the eastern state of Queensland, cuts in exploration spending and drilling bans. Click here to read full stories.

Mar 04 - Russian oil output down in February, misses global deal target 

Russian oil output stood at 11.34 million barrels per day (bpd) in February, down some 75,000 barrels per day from the October level, the baseline for a global deal, but still missing the accord target, Energy Ministry data showed on Saturday. This was also down from 11.38 million bpd in January. In tonnes, oil output reached 43.303 million versus 48.113 million in January. The production data was in line with what a source told Reuters on Friday.  Click here to read full stories.

Mar 04 - Australia planning to import LNG: What's next? Coals to Newcastle?  

Australia is on the verge of becoming the biggest exporter of liquefied natural gas, with dozens of tankers a week carrying fuel to North Asia. It could also soon be importing LNG as supply sources in its southern states run out. Five LNG import projects are vying to start up between 2021 and 2022, possibly forcing gas users in New South Wales, South Australia, Tasmania and Victoria into more direct competition with Asian buyers for gas from northern Australia. Click here to read full stories.

Mar 04 - NOPEC bills provide useful leverage for the White House: Kemp 

For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment. The amount of attention being paid to the proposed legislation is out of all proportion to its probability of being enacted into law - unless oil prices spike higher at some point during the remainder of 2019 and 2020. Click here to read full stories.

Mar 04 - U.S. oil rig counts falls to lowest since May 2018 -Baker Hughes 

U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year. Drillers cut 10 oil rigs in the week to March 1, bringing the total count down to 843, the lowest since May 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. Click here to read full stories.

Mar 01 - Venezuela's oil exports drop 40 pct after U.S. sanctions - data 

Venezuela's oil exports sank 40 percent in the first full month after the beginning of U.S. sanctions designed to oust Socialist President Nicolas Maduro, according to data from state-run oil firm PDVSA and Refinitiv Eikon. On Jan. 28, President Donald Trump's administration barred U.S. customers from paying for Venezuelan oil until a new government being formed by the nation's congress head Juan Guaido could be established to accept the proceeds.  Click here to read full stories.

Mar 01 - Norway's Aker BP switching gears from M&A to exploration 

Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels. The company said the change of tack was prompted by falling exploration costs, partly as a result of new technologies, as well as the rising cost of acquisitions in the energy sector because of stronger oil prices. Click here to read full stories.

Mar 01 - U.S. energy secretary warns OPEC bill could spike oil prices longterm 

The United States needs to be cautious about pending legislation that would allow the Justice Department to sue OPEC and other oil producers over supply cuts because it could result in higher prices in the long term, U.S. Energy Secretary Rick Perry said on Thursday. "We need to be really careful before we pass legislation that may have an impact that goes way past its intended consequences," Perry said at a news conference. Click here to read full stories.

Mar 01 - U.S. crude oil output falls in Dec for first time since May - EIA 

U.S. crude oil production edged lower in December to 11.85 million barrels per day, its first decline since May, the U.S. Energy Information Administration said in a monthly report on Thursday. Production fell 56,000 bpd from a record 11.91 million bpd in November, the agency said. While output rose in Texas and North Dakota, the largest onshore oil-producing states, the gains were offset by production declines in the U.S. Gulf of Mexico. Click here to read full stories.

Mar 01 - India's diesel demand to hit record highs in 2019 as country goes to polls 

India's diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world's third-largest oil user, underscores the country's importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India's burgeoning fuel consumption may help underpin oil and fuel prices. Click here to read full stories.

Mar 01 - Exxon's Cyprus gas discovery adds another giant to East Med collection 

ExxonMobil added another giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus but infrastructure bottlenecks and geopolitical disputes mean output from the field could be far off. Exxon, together with partner Qatar Petroleum (QP), estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas, similar order of magnitude to the Aphrodite and Calypso gas finds nearby, also in Cypriot waters. Click here to read full stories.