Edition:
United Kingdom

Ahmad Ghaddar

Sanctions choke Iran's crude sales, but oil product exports booming

02 Sep 2019

LONDON While U.S. sanctions on Iran's oil industry have slashed the OPEC member's crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.

Trader BB Energy seeks growth in biofuels, petrochems

22 Aug 2019

LONDON Commodity trader BB Energy has expanded into renewables and petrochemicals as it seeks to diversify away from the more crowded conventional oil markets, it said on Thursday.

Dirty shipping fuel margins plunge as cleaner fuel rules loom

16 Aug 2019

LONDON Margins for European high sulphur fuel oil (HSFO), used to power ships, sank this week as preparations for a global shift to cleaner maritime fuel next year start to weigh on prices.

Libya's biggest oilfield shut, NOC declares force majeure

31 Jul 2019

LONDON Libya's Sharara oilfield, the country's largest, was forced to shut down after a valve on the pipeline linking it to the Zawiya oil terminal was closed late Tuesday evening, state-owned National Oil Corp (NOC) said on Wednesday.

Global oil market in glut, but not a big enough one for OPEC

24 Jul 2019

LONDON/DUBAI OPEC has shifted the goalposts for assessing an overhang in oil inventories, giving the group more room to prolong production cuts, while analysts warn the move will offer a distorted view of market conditions.

OPEC set for oil cut extension if Iran endorses pact

30 Jun 2019

VIENNA OPEC and its allies look set to extend oil supply cuts next week at least until the end of 2019 as Iraq joined top producers Saudi Arabia and Russia on Sunday in endorsing a policy aimed at propping up the price of crude amid a weakening global economy.

OPEC set for rollover, may discuss deeper oil curbs - Iraq

27 Jun 2019

LONDON OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq's oil minister on Thursday.

RPT-Algeria floats idea of larger OPEC+ oil cut, rollover still likely - sources

13 Jun 2019

LONDON/DUBAI, June 12 Algeria has floated an idea of increasing an oil supply cut by OPEC and its allies in the second half of 2019 as demand falters, OPEC sources said, although rolling over current output curbs is still the most likely scenario.

Algeria floats idea of larger OPEC+ oil cut, rollover still likely - sources

12 Jun 2019

LONDON/DUBAI, June 12 Algeria has floated an idea of increasing an oil supply cut by OPEC and its allies in the second half of 2019 as demand falters, OPEC sources said, although rolling over current output curbs is still the most likely scenario.

Asian naphtha profit margins hit lowest in more than a decade

10 Jun 2019

SINGAPORE/LONDON Profit margins for making petroleum feedstock naphtha have hit their weakest in over a decade in Asia and a seven-year low in Europe as the global economy weakens and large-scale processing unit outages hurt demand.

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