06282016Tue
Last update: Tue, 28 Jun 2016 06pm

Markets - Energy

Markets - Energy - Americas

Brazil gasoline sales rose 4.7pc in May to 21.57mn barrels RIO DE JANEIRO: Brazilian fuel distributors sold 21.57 million barrels of c-blend gasoline in May, 4.7 percent more than a year earlier, while diesel sales fell 3.1 percent to 28.3 million barrels, the country's petroleum regulator ANP said on Monday.Sales of hydrated ethanol fell 8 percent in the month to 8.3 million barrels compared with a year earlier while total sales of refined products and biofuels in Brazil fell 2.2 percent to 70.4 million barrels in May 2016 compared with May 2015. Copyright Reuters, 2016

Markets - Energy - Middle East & Africa

Saudi Arabia's crude oil exports fall in April despite high output DUBAI: Saudi Arabia's crude oil exports in April fell despite high production levels, while more crude was used domestically for power generation and to feed rising demand from local refineries. Crude exports in April fell to 7.444 million barrels per day from 7.541 million bpd in March, official data showed on Monday. The world's largest oil exporter and OPEC heavyweight produced 10.262 million bpd in April, compared with 10.224 million bpd a month earlier, the ...

Markets - Energy - Europe

Europe Product Swaps-Gasoline swaps fall on high stocks, weak demand LONDON: Gasoline refining margins swaps in northwest Europe weakened in the week to Monday, as high inventories failed to keep up with demand.Gasoline stocks in Europe and the United States are elevated due to months of yield-shifting toward lighter products, according to traders and the US Energy Information Administration.The high stocks have pressured margins even as peak driving season comes into full swing, and arbitrage to the United States was narrowing.But refiners in Europe, Asia ...

Markets - Energy - Europe

BP approves investment in Egypt gas field 15 months after discovery LONDON: British oil major BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt, only 15 months after it first announced its discovery. BP, which declined to give an investment figure for the project, said the field was on track to deliver its first gas in the first half of 2018, set to pump 300 million cubic feet a day of gas to the Egyptian market. BP decided ...

Markets - Energy - Asia

Middle East Crude-Dubai falls for 7th session; Murban's discount widens SINGAPORE: The Middle East crude market weakened further on Monday with cash Dubai down for the seventh session, while ample supplies of light grades depressed Murban's value.Cash Dubai slipped into a deeper discount of 14 cents a barrel to swaps after Chinaoil sold two August partials to Shell at $46.50, traders said.Murban stayed under pressure from a rise in Saudi light crude supplies and as Russian ESPO became cheaper. Several cargoes of the Abu Dhabi ...

Markets - Energy - Americas

With oil price near $50, resilient US shale producers eye new chapter HOUSTON: Two years into the worst oil price rout in a generation, large and mid-sized US independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency. That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back OPEC's attempt to sideline them would have been unthinkable just months ago, when oil plumbed $26 a barrel and collapses were ...

Markets - Energy - Europe

Shell puts revamped shale arm at heart of growth drive LONDON: Having turned round its North American shale business, Royal Dutch Shell is putting so-called unconventional energy at the heart of its growth plans, and believes lessons from the revamp can be applied across the company. Greg Guidry, head of the Anglo-Dutch group's unconventionals business, told Reuters a drive to slash costs and streamline decision-making had put his division largely on a par with leading rivals in terms of productivity and efficiency. And now the ...