Europe
Iraq gives full February crude supply to three Asia, Europe buyers despite OPEC cut
(Reuters) -- Iraq, OPEC's second-largest oil producer, has given full supply allocations of Basra crude to three refiners in Asia and Europe for February, three sources with direct knowledge of the matter said on Monday.
Neste begins deliveries of low-sulfur marine fuel to Polferries
Neste and Polferries, a Polish company with a fleet of ferries operating on the Baltic Sea, have agreed on the delivery of low-sulfur marine fuel for the Nynäshamn-Gdansk route in 2017.
Axens takeover bid on Heurtey Petrochem successful
Axens announces the successful outcome of its tender offer on the Heurtey Petrochem shares. The results of this offer were published by the Autorité des marchés financiers (the AMF, the French capital market regulator).
Rosneft to supply extra 70 MMt of oil to China from 2017-2023
MOSCOW (Reuters) -- Russian state oil company Rosneft and China's CNPC have signed an agreement to increase by 70 MMt the amount of crude oil Rosneft will supply to China via Kazakhstan over the period from Jan. 1, 2017, to Dec. 31, 2023.
Azerbaijan to raise oil shipments via Russia to 1.5 MMt in 2017
BAKU (Reuters) -- Azerbaijan's state oil company SOCAR plans to increase its shipments via Russia to 1.5 MMt in 2017 from 1.21 MMt last year, a source at SOCAR said on Monday.
Russia cuts oil output by 100,000 bpd in early January
MOSCOW (Reuters) -- Russia cut its oil production in early January by around 100,000 bpd from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sector told Reuters on Monday.
European gasoline arb to US East Coast widens; freight rates limit flows
(Reuters) -- US gasoline prices recently soared to multiyear seasonal highs over European prices, setting the stage for more imports from across the Atlantic, but high freight costs mean not everyone will be able to take advantage of the arbitrage opportunity.
Vitol clinches $1-B pre-finance oil deal with Iran
LONDON/DUBAI (Reuters) -- The world's largest oil trader, Vitol, has clinched a deal with the National Iranian Oil Co. (NIOC) to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with the matter said.
Rosneft raises exposure to Germany's oil refining after BP deal
MOSCOW (Reuters) -- Russia's largest oil producer and its shareholder BP have completed dissolution of Ruhr Oel, their refining joint venture in Germany, Rosneft said on Thursday.
Viewpoint: Reshaping the industry toward innovation, certainty and efficiency
It is no secret that capital costs of major projects have skyrocketed over the past decade. A July 2015 industry report noted that the average megaproject’s cost increase is 80% of its original value, with an average schedule slippage of 20 months.
- Eastern Mediterranean petrochemical cluster developed by Rönesans attracts over $3 billion in investment 7/24
- Energia Costa Azul, Mexico’s second LNG terminal, ships first cargo 7/24
- Indorama Ventures advances circular economy "Zero Waste-to-Landfill" initiative 7/24
- Honeywell Technologies raises 2026 profit forecast in first post-split earnings 7/24
- Chemicals maker Dow beats second-quarter profit estimates 7/24
- Vietnam's Nghi Son refinery secures crude oil to operate through end-September 7/24
