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ITC tank farm fire reignites: Update 2

23 March 2019 - 16:30
A fire reginited today at Intercontinental Terminals' (ITC) storage facility in Deer Park, Texas.

Oil Refiners Reveal Hints About Expected Boom

19 March 2019 - 14:45
Oil refiners are getting ready for a boom. The plants in Europe and the US are scaling back planned maintenance later this year in anticipation of a surge in demand and fatter margins as the shipping industry gets ready for a historic fuel switch.

OPEC to Keep Oil Cuts in Place

19 March 2019 - 13:50
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of US sanctions on Iran and the crisis in Venezuela.

UK Crude Loadings Continue to Fall

19 March 2019 - 00:29
The UK’s crude oil loadings remained below 800,000 barrels per day for the third month in a row in February, while authorities expect Britain’s crude production to decline through at least 2024, Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime and Trade at IHS Markit, said.

OPEC’s Mohammad Barkindo: Rebound in Oil Investments Minimal

18 March 2019 - 17:41
Investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said.

NIOC Hunting for Ships to Keep Exporting Oil

14 March 2019 - 20:00
National Iranian Oil Company is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as US sanctions start to bite, Iranian and western sources said.

Iran Increases April Asia-Bound Crude OSPs

14 March 2019 - 19:50
State-owned National Iranian Oil Company has raised the official selling price differentials for all of its four crude oil grades loading in April and headed to Asia, a company source told S&P Global Platts Wednesday.

OPEC Warns Wall Street on NOPEC

14 March 2019 - 19:26
OPEC is sending a clear message to Wall Street banks and big investors: If Washington passes legislation that would allow the US government to sue the organization; the first victim will be shale.

Germany Oil, Gas Output Falls 3 Percent

13 March 2019 - 19:18
Germany produced 10.3 million tons of oil and 26.1 billion cubic meters of gas in 2018, both down 3% year-on-year, industry association BVEG data showed on Tuesday.

Oil's big reset: Energy majors learn to thrive after price crash

11 March 2019 - 14:21
When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed. In reality, the giant oil majors suffered most — burdened by expensive mega-projects, Chevron Corp., BP Plc and the rest struggled to adapt to the fall in energy prices.
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