09302016Fri
Last update: Fri, 30 Sep 2016 04pm

Markets - Energy

Markets - Energy - Americas

Venezuela's PDVSA bonds fall after swap proposal unveiled CARACAS: Venezuelan state oil company PDVSA's bonds fell on Monday, in what could signal initial market disappointment over the borrower's $7.1 billion debt swap offer. Under the exchange proposal unveiled on Friday evening, the new 2020 bond carries a 8.5 percent coupon and would replace bonds maturing in November 2017 and April 2017 .An incentive for investors is that the new bond's coupon is higher than the April 2107 bond's 5.25 percent coupon though equal to that of the November 2017 paper. Another is that PDVSA would use shares of its US refiner CITGO unit as a collateral guarantee. Nomura analyst Siobhan Morden said the uncertainty of how the collateral would be valued partly account for the initial disappointment in the bond market over the swap proposal. On Monday, the November 2017 debt bond fell 2.45 points, or 2.9 percent, to a bid price of 78.35, while the April 2017 ...

Markets - Energy - Europe

W. Africa Crude-Angolan Nov. programme emerges, Nigerian OSPs awaited LONDON: Angolan crude exports are set to rise to around 1.57 million barrels per day (bpd) in November, a preliminary programme showed on Monday, up from a smallest schedule in 10 years in October. Angola's offshore Plutonio oilfield resumed production over the weekend after being shut down for about 10 days for maintenance, industry sources said on Monday. Angola's parliament on Monday approved a smaller 2016 budget than it had originally planned, after lower oil ...

Markets - Energy - Europe

Med crude-Azeri light traded firmer, Urals stable in thin trade MOSCOW: Premiums for Azeri light were slightly supported as demand for October-loading cargoes improved among European refiners and more cargoes loading in the first half of the month were sent out of the region. In the Platts window, Statoil offered 135,000 tonnes of Azeri light loading from Supsa or Ceyhan on Oct. 1-5 from a premium of $1.50 down to $1.25 a barrel to BFOE, and at this level it was booked by Japan's Itochu, ...

Markets - Energy - Europe

North Sea Crude-Ekofisk edges higher as gasoline strength persists LONDON: North Sea crude oil differentials held broadly steady on Monday, although Ekofisk was bid higher, as an outage on a major US products pipeline lent support to lighter, sweeter grades. An outage on a key US pipeline operated by Colonial Pipeline Co late last week has pushed up retail gasoline prices and opened up an opportunity for other Atlantic Basin exporters to send both crude and products west. In flows, Reuters shipping data showed ...

Markets - Energy - Middle East & Africa

Saudi Arabia crude exports rise to 7.622mn bpd in July ABU DHABI: Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied. The world's largest oil exporter has been maintaining high output levels since mid-2014 despite a global supply glut, in line with a strategy of defending market share against rival producers. Saudi Arabia's crude oil exports in July rose to 7.622 million barrels per day from 7.456 million bpd in June, official ...

Markets - Energy - Americas

Oil rebounds on producer deal speculation; gasoline falls NEW YORK: Oil prices rose 1 percent on Monday after Venezuela hinted that OPEC members and other major oil producers could agree to a deal to freeze output, and as clashes in Libya disrupted attempts to restart crude exports from key ports.US gasoline futures fell on profit-taking from last week's rally on the outage of a key gasoline pipeline due to a leak. Oil was also supported by higher equity prices on Wall Street and ...

Markets - Energy - Europe

Oil advances on unrest, hopes for output deal LONDON: World oil prices rebounded Monday on supply concerns in Libya and Nigeria, and after OPEC member Venezuela indicated a deal to limit output was close.Additional support came from the weaker US greenback, which makes dollar-priced commodities like oil cheaper for buyers using stronger currencies.At about 1645 GMT, Brent North Sea crude for delivery in November won 51 cents to $46.28 a barrel compared with Friday's closing level.US benchmark West Texas Intermediate for October added ...