05302016Mon
Last update: Mon, 30 May 2016 11am

Markets - Energy

Markets - Energy - Americas

Colombia April crude output down 11.1pc year-on-year BOGOTA: Colombia produced an average of 914,000 barrels of crude oil per day (bpd) in April, the Mines and Energy Ministry said on Monday.The output was down 11.1 percent from the year before, according to Reuters calculations. The ministry did not give a reason for the decline.Natural gas production rose 7.28 percent year-on-year to 1.031 billion cubic feet per day.State-run Ecopetrol produces more than one-half of Colombia's oil, while Toronto-listed Pacific Exploration and Production Corp is the biggest private player.Copyright Reuters, 2016

Markets - Energy - Americas

Exxon's Baton Rouge refinery prepares Tuesday restart of CDU: sources HOUSTON: Exxon Mobil Corp was preparing to restart a crude distillation unit on Tuesday at the 502,500-barrel-per-day Baton Rouge, Louisiana refinery, sources familiar with plant operations said on Monday. Exxon spokeswoman Lana Venable declined on Monday to discuss operations at the Baton Rouge refinery. "We continue to meet all contractual commitments," Venable said. The 90,000-bpd CDU called PSLA 7 was shut on May 17 for de-coking, which removes excess carbon that accumulates within the unit. ...

Markets - Energy - Europe

ENI CEO says Nord Stream 2 would raise gas prices in Italy BRUSSELS: Italian gas prices will increase if the Nord Stream 2 pipeline is built to double the amount of gas Russia pumps to Germany, the CEO of Italian oil and gas major Eni said on Monday. Hinting at the political divisions that the pipeline has sparked within the European Union, Eni CEO Claudio Descalzi said it was a project that would advantage northern members of the 28-nation bloc, while Italy may face higher transit fees. ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks extend gains on French strikes LONDON: Benchmark European diesel refining margins extended their gains on Monday, as strikes at French refineries widened, raising concerns of supply disruptions. France's hardline CGT and FO unions launched a 24-hour strike at the Fos-Lavera oil terminals and blockaded a fuel depot in the southern port city of Marseille on Monday as they toughened their stance against labour market reforms. Total, which operates five of the eight refineries in France, has started the process of ...

Markets - Energy - Europe

West Africa Crude-Angolan July sales start, but backlog remains LONDON: West African crude differentials were steady on Monday as July-loading cargoes started to find buyers, although unsold June shipments could weigh on the market. A crude oil pipeline in Nigeria operated by Eni was attacked on Sunday, adding to the country's supply disruptions. ANGOLA State oil firm Sonangol has been offering two July-loading Dalia cargoes and one Nemba and Saturno, traders said. Unipec bought one of the Dalia cargoes, which was last offered at ...

Markets - Energy - Americas

Oil slides on Iran supply, US rigs; Cushing draw cuts loss NEW YORK: Oil prices slid early on Monday as Iran vowed to ramp up output and rig reductions paused in the United States, then crude futures pared losses on data showing a stockpile drawdown at the U.S. delivery hub.Oil fell $1 a barrel or more in early trade, the day after the Mehr news reported that Iran's Deputy Oil Minister Rokneddin Javadi said the country's crude exports, excluding gas condensates, would reach 2.2 million barrels ...

Markets - Energy - Middle East & Africa

Iraq's southern oil exports fall so far in May LONDON: Oil exports from southern Iraq so far in May have fallen by more than 200,000 barrels per day (bpd) from the previous month's near-record, adding to supply losses caused by unusually high global outages.The drop, if prolonged, could add to concern about the sustainability of export growth from Iraq, where oil firms have warned the government that projects to boost output will be delayed if Baghdad cuts spending this year.Iraq's southern exports in the ...