Edition:
United Kingdom

Julia Payne

PES refinery outage adds to plight of homeless light sweet crude

19 Jul 2019

LONDON A June 21 fire and explosion set to permanently close the biggest oil refinery on the U.S. East Coast has shaken markets as far away as the North Sea and West Africa, leaving millions of barrels of unsold oil in need of a new home.

Eni files fraud complaint, rejigs trading arm over oil tanker fiasco

18 Jul 2019

LONDON/MILAN Eni has filed a fraud complaint against its former head of oil trading over a suspect Iraqi crude oil shipment, amid concerns inside the Italian oil major that the failed delivery may have included Iranian crude targeted by U.S. sanctions.

Nigeria's state oil firm awards oil-for-fuel swap deals: sources

16 Jul 2019

LAGOS/LONDON Nigerian state oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel for one year, oil industry sources told Reuters.

Exclusive: UAE plans oil trade overhaul to boost Middle Eastern clout

16 Jul 2019

DUBAI/LONDON The United Arab Emirates' state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its trading operations as it seeks to emulate the success of rival oil majors and bolster its regional influence.

Trafigura's Puma Energy hires BAML for asset sale: sources

21 Jun 2019

LONDON Puma Energy, the retail and storage arm of commodities trader Trafigura, has hired Bank of America Merrill Lynch (BAML) to run the sale of some of its assets, sources familiar with the matter said, in an effort to trim debt.

Probes and squeezed profits change the oil trading game

20 Jun 2019

GENEVA/LONDON For the world's biggest oil traders, it feels like a return to the 1980s when earnings were diluted by an abundance of crude.

Probes and squeezed profits change the oil trading game

20 Jun 2019

GENEVA/LONDON, June 20 For the world's biggest oil traders, it feels like a return to the 1980s when earnings were diluted by an abundance of crude.

Short-seller Iceberg Research turns focus to Trafigura bond

20 Jun 2019

* Brazilian bond's book value rose despite fall in quoted price

Glencore puts Chad oilfields up for sale - sources

12 Jun 2019

LONDON Mining and trading giant Glencore has put its oilfields in Chad up for sale, three sources familiar with the matter said, in a retreat from its foray into oil production following asset writedowns over the past decade.

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