09262016Mon
Last update: Mon, 26 Sep 2016 05am

Europe

Markets - Energy - Europe

West Africa Crude-Nigerian offers high, more programmes appear LONDON: Sellers of Nigerian crude continued to seek high prices on Wednesday as disruption to output of several streams tightens supply. The delayed October loading programme for Nigerian crude Bonga was issued, although several other schedules have yet to appear. NIGERIANigeria's Forcados, Qua Iboe, Bonny Light and Brass River crude grades remain under force majeure. Offers have been strong for other grades. Bonny Light was offered at dated Brent plus $2.80 a barrel and Bonga was offered at dated plus $2.25. A potential buyer saw those levels as ambitious. The Bonga loading programme for October was issued and schedules six cargoes with a possible seventh shipment, to be confirmed, loading at the end of the month. ANGOLA About 15-20 cargoes of October-loading Angolan crude were left, traders said, plus a handful of cargoes from the September programme. Remaining grades include Cabinda, CLOV, Girassol, Kissanje and Nemba. No change was heard ...

Markets - Energy - Europe

Britain's FTSE posts third straight month of gains LONDON: UK shares ended lower on Wednesday, hit by a late slump in the energy sector, although the FTSE 100 posted its third monthly gain in a row. The blue chip FTSE 100 index closed down 39.28 points, or 0.6 percent, at 6,781.51 points, slightly underperforming the broader European market.The index ended the month up 0.8 percent, and has risen 6 of the last 7 months. The FTSE 100 is now 7 percent above its ...

Markets - Energy - Europe

Europe Distillates-Diesel margins slide on surprise US stock build LONDON: Northwest European diesel margins fell below $9 a barrel to their lowest since Aug. 12 on Wednesday as US weekly middle distillate stocks rose unexpectedly, while increased imports into region also kept a lid on margins. US distillate inventories, which include diesel and heating oil, rose 1.5 million barrels last week, versus expectations for a 157,000-barrel drop, the EIA data showed. The rise in inventories is likely to encourage US distillate exports to Europe. ...

Markets - Energy - Europe

Total, Erg prepare sale of Italian petrol-station network LONDON/MILAN: French oil major Total and Italian renewable energy group Erg have tapped banks to sell one of Italy's biggest petrol station networks, known as TotalErg, sources familiar with the matter said. A sales process led by HSBC and Rothschild is expected to kick off in late September, the sources said. Italy's petrol station network is over-crowded, with around 21,000 stations across the country, twice the number in France and almost three times that in ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks edge higher on weaker crude futures LONDON: Gasoline refining margins edged higher following a fall in oil futures while a draw in US gasoline stocks failed to boost cracks further as the remaining volume in storage was still considered high. Even with upcoming refinery maintenance on the US east coast, traders were still bearish owing to significant stockpiles in PADD 1 and the end of summer driving season. US gasoline stocks fell 691,000 barrels, compared with analysts' expectations in a Reuters ...

Markets - Energy - Europe

Oil prices dip before US inventories data LONDON: Oil fell further Wednesday as dealers awaited the latest update on crude reserves in the United States.At around 1145 GMT, US benchmark West Texas Intermediate for delivery in October declined 36 cents at $45.99 a barrel.Brent North Sea crude for October lost 54 cents to $47.83 a barrel compared with the close on Tuesday.Prices also fell on the back of the stronger greenback, which makes dollar-denominated commodities more expensive for buyers using weaker currencies. ...

Markets - Energy - Europe

Lukoil sees Q2 profits dip on oil price slide MOSCOW: Russia's largest private oil firm Lukoil said Monday that a slide in oil prices had caused its profits to dip slightly in the second quarter. Net profit dropped to 62.6 billion rubles ($961 million, 860 million euros), a 2-percent fall year-on-year, a better performance than analysts had predicted. Lukoil's revenues fell by nine percent to 1.34 trillion rubles as falling oil prices, which early this year hit their lowest level since 2003, took their ...