- — European refiners hike jet fuel output after cracks hit 3-year highs: traders
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at 1/21/22 7:00amEuropean refiners are increasing their jet fuel production after physical cracks versus Brent hit three-year highs and jet fuel forward cracks settled above diesel cracks for the remainder of 2022, trading sources said. Jet cracks rise The January CIF NWE jet fuel cargo versus Brent crack was assessed at $18.69/b Jan. 18, a small drop ... The post European refiners hike jet fuel output after cracks hit 3-year highs: traders first appeared on Hellenic Shipping News Worldwide.- — Qatar raises March al-Shaheen term price to 2-month high after tender sale – sources
- at 1/21/22 7:00amQatar Energy has sold three al-Shaheen crude cargoes for March-loading at the highest premiums in two months, in line with the rebound seen for Middle East grades this month, trade sources said on Wednesday. The producer sold the cargoes at an average premium of $2.67 a barrel to Dubai quotes and set the term price ... The post Qatar raises March al-Shaheen term price to 2-month high after tender sale – sources first appeared on Hellenic Shipping News Worldwide.
- — Libya mulling increasing oil production for 2022
- at 1/21/22 7:00amLibyas state-owned National Oil Corporation (NOC) is considering its plans for 2022, including the increase of oil production and reserves, NOC Chairman Mustafa Sanalla said on Wednesday. Sanalla made the remarks during a speech following a series of the meetings of its 28 subsidiary or related companies held in the capital Tripoli and the city ... The post Libya mulling increasing oil production for 2022 first appeared on Hellenic Shipping News Worldwide.
- — Yamal gas pipeline’s eastward flows from Germany to Poland decline
- at 1/21/22 7:00amGas supplies via the Yamal-Europe pipeline, which sends Russian gas west into Europe, have declined from Germany to Poland, running in a reverse mode eastward for a month, data from German network operator Gascade showed on Friday. Since Dec. 21, the link between Poland and Germany had been operating in reverse mode, putting upward pressure ... The post Yamal gas pipeline’s eastward flows from Germany to Poland decline first appeared on Hellenic Shipping News Worldwide.
- — ANALYSIS: European diesel tightness widens backwardation to 3-year highs in January
- at 1/21/22 3:00amEuropean diesel market structure has rallied to a strong backwardation in January, widening further from December, as changing middle distillate yields and trade flows limit diesel supply. Backwardation widens rapidly Intermonth spreads in the ICE low sulfur gasoil futures the key European futures benchmark for middle distillate markets, and indicator of market strength ... The post ANALYSIS: European diesel tightness widens backwardation to 3-year highs in January first appeared on Hellenic Shipping News Worldwide.
- — Oil falls on U.S. inventory build, profit taking
- at 1/21/22 3:00amOil prices fell on Friday, after rising to seven-year highs this week, after an unexpected rise in U.S. crude and fuel inventories and as investors took profits. Brent crude futures were down $1.49, or 1.6%, to $86.89 a barrel by 1010 GMT. The contract earlier fell by as much as 3%, the most since Dec. ... The post Oil falls on U.S. inventory build, profit taking first appeared on Hellenic Shipping News Worldwide.
- — Escalating oil prices will become politically sensitive: Kemp
- at 1/21/22 3:00amOil prices have risen to their highest for more than seven years, climbing above levels that triggered a U.S.-led release of strategic petroleum reserves last November. Policymakers may be less likely to respond at this time as consumers and businesses have had more time to grow accustomed to prices around current levels. However, if prices ... The post Escalating oil prices will become politically sensitive: Kemp first appeared on Hellenic Shipping News Worldwide.
- — ENGINE: Europe & Africa Bunker Fuel Availability Outlook
- at 1/20/22 3:00pmIndependently held fuel oil stockpiles in the ARA were drawn to near yearly lows last week, while the bunker hubs gasoil stocks continued to regain weight after slumping to seven-year lows last month, according to consultancy Insights Global. Prompt supply came under pressure amid strong bunker demand in the ARA at the beginning of the ... The post ENGINE: Europe & Africa Bunker Fuel Availability Outlook first appeared on Hellenic Shipping News Worldwide.
- — Petroecuador hopes to boost oil output to 425,000 boed by end of year
- at 1/20/22 3:00pmEcuadors state-owned oil company, Petroecuador, is targeting average output of 425,000 barrels of oil equivalent per day (boed) by the end of 2022, manager Italo Cedeno said on Wednesday. Petroecaudors production averaged some 380,000 boed until November. It dwindled to a trickle in December after pumping through the SOTE pipeline was suspended and exports halted ... The post Petroecuador hopes to boost oil output to 425,000 boed by end of year first appeared on Hellenic Shipping News Worldwide.
- — Dated Brent assessed above $90/b for first time since 2014 on tight physical supply
- at 1/20/22 3:00pmPlatts Dated Brent was assessed above $90/b for the first time since 2014, as the global crude market continued to demonstrate tightness for prompt-loading cargoes. Dated Brent was assessed $1.985/b higher on the day at $90.51/b Jan.19, the highest since a $90.64/b assessment on Oct. 7, 2014. The increase in Dated Brents outright price reflected ... The post Dated Brent assessed above $90/b for first time since 2014 on tight physical supply first appeared on Hellenic Shipping News Worldwide.
- — Brazil’s Eletrobras calls general meeting on privatization plans
- at 1/20/22 3:00pmBrazil’s state-run power company Eletrobras on Thursday called an extraordinary shareholders meeting to approve its privatization plan, one of the government’s most expected financial events this year. The meeting is scheduled for Feb. 22, at 2 p.m. local time (1700 GMT), and will be held remotely, according to documents sent by the company to Brazil’s ... The post Brazil’s Eletrobras calls general meeting on privatization plans first appeared on Hellenic Shipping News Worldwide.
- — Urals oil overtakes Brent soaring past $88 per barrel in Europe, says Argus
- at 1/20/22 3:00pmRussia’s export oil, Urals, has soared past the Brent benchmark in Europe in terms of its price growth, surging above $88 per barrel for the first time since October 2014, according to the data provided by the Argus international price agency obtained by TASS. Urals breached seven-year highs for the first time on January 14 ... The post Urals oil overtakes Brent soaring past $88 per barrel in Europe, says Argus first appeared on Hellenic Shipping News Worldwide.
- — Brazil’s oil production reaches 2.84 mln bpd in December -regulator
- at 1/20/22 3:00pmBrazil’s oil production reached 2.84 million barrels per day (bpd) in December 2021, up from 2.73 million bpd in the same period of the previous year, local oil regulator ANP said. The country’s natural gas output averaged 132.23 million cubic meters per day in the last month of 2021, up 4% year-on-year, ANP said. Combined ... The post Brazil’s oil production reaches 2.84 mln bpd in December -regulator first appeared on Hellenic Shipping News Worldwide.
- — Biden White House again under pressure as oil prices race toward $90/b
- at 1/20/22 11:00amThe White House once again faces few options to respond to high oil prices as they race toward $90/b just two months after the Biden administration tapped emergency crude stocks. Analysts expect the administration to consider the usual grab bag of policies and rhetoric that get brought out when domestic fuel prices rise. Those include ... The post Biden White House again under pressure as oil prices race toward $90/b first appeared on Hellenic Shipping News Worldwide.
- — Argus brings new transparency to key US Gulf Coast crude oil export market
- at 1/20/22 11:00amGlobal energy and commodity price reporting agency Argus has broken new ground today with the launch of an Argus Crude Market Ticker (ACMT), an application which will provide unparalleled transparency in two of the worlds most important crude oil markets, those for WTI Houston and WTI Midland. The volume of physical and derivative trade in ... The post Argus brings new transparency to key US Gulf Coast crude oil export market first appeared on Hellenic Shipping News Worldwide.
- — U.S. crude oil inventories, oil prices up amid concerns over supply side
- at 1/20/22 11:00amThe American Petroleum Institute (API) on Wednesday reported an increase of 1.404 million barrels of crude oil in U.S. inventories for the week ending Jan. 14. Analysts had expected an decrease of about 1.367 million barrels for this week. The API reported a drop of 1.077 million barrels in the previous week. Oil prices advanced ... The post U.S. crude oil inventories, oil prices up amid concerns over supply side first appeared on Hellenic Shipping News Worldwide.
- — Oil prices slip from 2014 highs, supply concerns limit losses
- at 1/20/22 7:00amOil slipped on Thursday on indications of rising U.S. stocks and as investors took profits after a recent price rally, but strong demand and short-term supply disruptions continue to support prices close to their highest since 2014. Brent crude futures were down 45 cents, or 0.5%, at $87.99 a barrel by 1242 GMT after dropping ... The post Oil prices slip from 2014 highs, supply concerns limit losses first appeared on Hellenic Shipping News Worldwide.
- — Oil and gas should be part of UAE’s COP28 talks as they’re still needed: minister
- at 1/20/22 7:00amDiscussions during COP28, to be held in the UAE in 2023, should include input from oil and gas experts because the world cant unplug suddenly from the current energy system, the UAEs minister of Industry and Advanced Technology said. The UAE, OPECs third biggest producer, is hosting COP28 at a time when the countrys top ... The post Oil and gas should be part of UAE’s COP28 talks as they’re still needed: minister first appeared on Hellenic Shipping News Worldwide.
- — Permian oil output forecast to hit record high in February -EIA
- at 1/20/22 7:00amThe largest U.S. shale basins output will surge to a record in February, according to a monthly forecast from the U.S. Energy Information Administration (EIA). The largest U.S. crude basin, the Permian basin of Texas and New Mexico, is expected to have an output increase of 80,000 barrels per day (bpd) to 5.076 million bpd, ... The post Permian oil output forecast to hit record high in February -EIA first appeared on Hellenic Shipping News Worldwide.
- — In 2021, 14 petroleum liquids pipeline projects were completed in the United States
- at 1/20/22 7:00amIn 2021, pipeline companies completed 14 petroleum liquids pipelines projects in the United States, according to our recently updated Liquids Pipeline Projects Database. This total includes seven crude oil pipeline projects and seven hydrocarbon gas liquids pipeline projects; no petroleum product pipeline projects were completed last year. Of the 14 completed projects: Six projects were ... The post In 2021, 14 petroleum liquids pipeline projects were completed in the United States first appeared on Hellenic Shipping News Worldwide.
- — OPEC+ can’t solve oil market challenges amid scarce energy investments: UAE minister
- at 1/20/22 7:00amOPEC+ cant solve current oil market challenges alone because the world needs more energy investments to avert future oil price hikes that may impact global economic growth, the UAEs energy minister said Jan. 19. The world needs more investments in various crudes from around the world, international oil companies working in this sector should continue ... The post OPEC+ can’t solve oil market challenges amid scarce energy investments: UAE minister first appeared on Hellenic Shipping News Worldwide.
As of 1/21/22 11:15am. Last new 1/21/22 8:12am.
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