12062016Tue
Last update: Tue, 06 Dec 2016 07am

Markets - Energy

Markets - Energy - Middle East & Africa

Saudi energy minister in Algiers for talks ALGIERS: The Saudi energy minister was visiting Algiers for talks on OPEC policy with his Algerian counterpart Nouredine Bouterfa, agreeing there should be a new date for technical committee talks, an energy source told Reuters on Saturday. The two ministers agreed on sticking to a September Algiers deal on an output cut, the Algerian energy source said. "We have also agreed to set a new date for the meeting of the high committee of experts which was scheduled on November 25. The new date is November 21," said the source, who asked not to be named. OPEC members are still in talks on details of the output reduction. In September, OPEC agreed at a meeting in Algeria on modest preliminary oil output cuts in the first such deal since 2008, with special conditions given to Libya, Nigeria and Iran, whose output has been hit by wars and sanctions. Copyright Reuters, ...

Markets - Energy - Middle East & Africa

Qatar Petroleum affiliate signs LNG deal with Brazil DUBAI: Qatar Petroleum said on Saturday its affiliate Ocean LNG has signed a long-term deal to provide Brazil-based CELSE-Centrais El?tricas de Sergipe with liquefied natural gas (LNG) from 2020. Under the deal, Qatar will ship 1.3 million tonnes of LNG per year on an Ex-Ship basis, it said in a statement."The shipments, which will begin in 2020, will be for use at CELSE's Porto de Sergipe power project near Aracaju, in the Brazilian state of ...

Markets - Energy - Asia

Middle East Crude-Benchmarks rise on news al-Shaheen exports would drop SINGAPORE: The Middle East crude benchmarks rose to their strongest this month on Friday on news that oilfield maintenance in Qatar will hit exports of al-Shaheen.Al-Shaheen exports are expected to fall to 10 cargoes in January from the usual 16-18 cargoes, traders said.Tasweeq only offered two cargoes in its tender. (see below)Physical trade kicked off on Friday after an oil major sold 500,000 barrels of Qatar Land to a southeast Asian end user at 25 ...

Markets - Energy - Europe

Oil prices dip on persistent fuel supply overhang LONDON: Oil prices dipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate unless OPEC and other producers cut their output significantly. International Brent crude futures traded at $45.70 per barrel at 0945 GMT, down 14 cents from their last close. US West Texas Intermediate (WTI) crude futures were trading 29 cents lower at $44.37 per barrel, weighed down by weakening US demand. "This week, both ...

Markets - Energy - Asia

Asia-Pacific Crude-PV Oil offers Jan Thang Long crude SINGAPORE: The Asia-Pacific crude market saw more offers emerging for January-loading after PV Oil issued a sell tender for Thang Long on Friday.The Vietnamese state-owned marketer is offering 250,000 barrels of Thang Long crude for Jan. 2-8 loading. The tender will close on Nov. 18 with validity until Nov. 21.Thang Long crude supplies for January were stable compared with December when PV Oil sold its cargo to South Korean refiner SK Energy at a premium ...

Markets - Energy - Asia

Asia Distillates-Jet fuel weakens against firm gasoil SINGAPORE: The Asian jet fuel differentials weakened against stronger gasoil prices, boosted by demand from Winson Oil in Singapore, trade sources said.India's Essar Oil likely sold 60,000 tonnes of jet fuel for Dec. 1 to 5 loading at a premium of 40 cents a barrel to Middle East quotes, traders said. The deal could not immediately be confirmed.India's Mangalore Refinery and Petrochemicals Ltd (MRPL) sold 40,000 tonnes of jet fuel for Dec. 13 to 15 ...

Markets - Energy - Asia

Asia Naphtha/Gasoline-Gasoline supported by Vietnam demand SINGAPORE: Spot demand from Vietnam and term demand for reformate from Taiwan supported gasoline margins, traders said.Potential demand increase from Indonesia ahead of a refinery maintenance in March could also support fundamentals, they added.Indonesia's Pertamina will shut its Balikpapan refinery for maintenance and carry out maintenance on the single point mooring (SPM) system for its Cilacap refinery in March, according to three sources close to the matter.The 260,000 barrel per day (bpd) Balikpapan refinery in ...