06282016Tue
Last update: Tue, 28 Jun 2016 03am

Europe

Markets - Energy - Europe

North Sea Crude-Forties diffs fall, dented by unsold barrels LONDON: Forties differentials fell on Thursday to their lowest level since early May, as an overhang of unwanted crude continued to drag on the market. Total once again offered barrels from the Maran Thetis via ship-to-ship transfer (STS) but was unable to find a buyer. The French port and oil refinery strikes are mostly over, following nearly four weeks of disruptions, which should theoretically provide some support for crude diffs. Reuters trade flows data shows no North Sea crude has discharged in France since May 20. There are, as yet, no fixtures for July-loading cargoes of Forties bound for Asia. So far this month, some 6 million barrels have loaded and sailed, with another 2 million due to load this week onto the VLCC Sara, chartered by Shell. Of the 22 million barrels of Forties that have loaded and sailed for Asia this year, Shell has moved 14 million barrels. ...

Markets - Energy - Europe

Russia announces tender to build 3rd line of Sakhalin-2 ST PETERSBURG: Russia's Sakhalin Energy has called a tender to build a third production line at the Sakhalin-2 liquefied natural gas (LNG) plant on Russia's Sakhalin island in the Pacific, the company said on Thursday. Sakhalin-2, controlled by Russian gas giant Gazprom , currently has two LNG production lines with a combined capacity of around 10 million tonnes of LNG per year. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Angola's August crude oil exports to rise to 1.74 million bpd LONDON: Angola plans to export 56 crude oil cargoes in August, up from the 55 planned for July, according to a provisional loading programme circulated to traders.The programme seen by Reuters included 1.74 million barrels per day (bpd) compared with about 1.71 million bpd planned for July.Angola's July programme was almost totally sold out by Thursday.The strong demand was spurred by the comparative unreliability of Nigeria's oil exports, which have been hampered by a spate ...

Markets - Energy - Europe

Oil loses more ground LONDON: Oil fell for the sixth straight session Thursday on lingering worries over weaker-than-expected crude demand in top consumer the United States, and on the back of the strong dollar.Sentiment was also dented by worries over Britain's potential exit from the European Union, as a key referendum looms on June 23.At about 1610 GMT, Brent North Sea crude for delivery in August sank $1.71 to $47.26 per barrel.US benchmark West Texas Intermediate (WTI) for July ...

Markets - Energy - Europe

Gasoline appeal fades as refiners chase the next profit boost LONDON: Just as drivers hit the road for summer holidays, refiners are turning the taps down on gasoline as a global excess cuts into their profits. Refiners in Europe, Asia and the United States, from the mighty ExxonMobil down to smaller players such as Italy's Saras, amped up the proportion of gasoline they churned out to cash in on record driver demand. But now they are moving back to the diesel, jet fuel and heating ...