Category Archives: General News

Petroleum demand rises in August

Total U.S. petroleum deliveries (a measure of demand) increased 1.0 percent last month from August 2013 to average 19.3 million barrels per day. These were the highest August deliveries in three years. “Petroleum demand last month showed slow but steady … Continue reading

Posted in General News | Leave a comment

OPEC Supply Risks Mount as Biggest Libyan Field Is Halted

A reduction in OPEC crude output deepened as Libya’s biggest producing oilfield stopped pumping amid supply cuts from Saudi Arabia and potential disruptions to Nigerian exports. Libya halted the Sharara oilfield as a precaution after a rocket attack on the … Continue reading

Posted in General News | Leave a comment

India ships in 50 pct more Iranian oil in Jan-Aug -trade

Indian imports of Iranian oil rose by nearly half to 271,000 barrels per day (bpd) in January-August from a year ago, when refineries cut purchases due to worries about insurance coverage for processing crude from Tehran, data from trade sources … Continue reading

Posted in General News, Local News | Leave a comment

US weekly Angolan crude oil imports at highest level since November: EIA

Weekly US imports of Angolan crude have hit their highest level since November 2013, according to Platts analysis of EIA data. Some 319,000 b/d of Angolan crude traveled to the US for the week ending September 12, an increase of … Continue reading

Posted in General News | Leave a comment

U.S. considering options if oil export ban challenged

Obama administration officials are concerned about the legality of a ban on oil exports and have begun discussing how to deal with potential challenges from nations that want to buy U.S. crude, two sources said. Officials in the Office of … Continue reading

Posted in General News | Leave a comment

Indonesia 2015 Coal Exports Seen Down 14% on New Curbs

Indonesia’s coal exports are expected to decline by around 14 percent to 300 million metric tons in 2015 as a result of China’s newly announced import curbs and upcoming local export rules, the country’s top coal industry association said. China … Continue reading

Posted in General News | Leave a comment

Deeper Saudi Oil Cuts Seen After Biggest Drop Since ’12

Saudi Arabia will need to keep cutting oil output to sustain prices above $100 a barrel, even after the kingdom’s largest reduction in two years, according to BNP Paribas SA and Societe Generale SA. The world’s biggest crude exporter told … Continue reading

Posted in General News | Leave a comment

Asia thermal coal (CCI 7&8): CCI 8 down on Chinese import restrictions

Bearish sentiment swept across the Chinese market following the import restrictions reported Monday, with bids and offers reported lower, sources said Tuesday. An October-delivered mini-Capesize cargo of 5,500 kcal/kg NAR Australian thermal coal was heard offered at $55.80/mt FOB or … Continue reading

Posted in General News | Leave a comment

OPEC’s Badri says he expects OPEC to lower output target

OPEC Secretary General Abdallah El-Badri told reporters on Tuesday he expected the group to lower its oil output target when it meets next in late November. Badri was asked if OPEC’s 30 million barrels per day output target would still … Continue reading

Posted in General News | Leave a comment

Russian central bank sees oil price returning to $100

The Russian central bank sees crude oil prices returning to above $100 per barrel in coming quarters and staying above that mark in 2016-2017, according to the bank’s quarterly monetary policy document published on Tuesday. By supporting the rouble, a … Continue reading

Posted in General News | Leave a comment

Indonesian thermal coal: Indian buying supports certain grades

Indian thermal coal buying supported prices for specific grades of Indonesian thermal coal, but further gains were capped due to the uncertainty surrounding the implementation of the Indonesian export license rule, sources said Monday. Platts assessed the price of FOB … Continue reading

Posted in General News, Local News | Leave a comment

Iran’s oil exports stands at 1.2 million barrels, official says

Iran oilWhen the current administration took the office, Tehran’s oil exports dropped to 700,000-800,000 barrels from the previous figure of 1.3 million barrels, Iran’s Fars news agency quoted an unnamed source at the country’s Oil Ministry as saying. “But the … Continue reading

Posted in General News | Leave a comment

Iron Ore Rebound Seen by Morgan Stanley as Vale Sees $100

Iron ore is heading for an end-of-year rally as some high-cost supplies are closed and steel demand picks up, according to Morgan Stanley, which said prices may first extend losses by a few more dollars before rebounding. The steel-making raw … Continue reading

Posted in General News | Leave a comment

S.Korea’s Iran oil imports double in Aug, but down for Jan-August

South Korea’s imports of Iranian crude doubled in August from a year ago but fell 8 percent in the first eight months year-on-year, reflecting moves by the world’s fifth-largest crude oil importer to navigate terms of sanctions reliefs. Preliminary customs … Continue reading

Posted in General News | Leave a comment

Indonesia sees 11 pct drop in 2014 coal exports as royalty hike looms

Indonesian coal exports are expected to drop 11 percent this year due to lower production, a government official said, as miners grapple with new rules the industry fears will put some firms out of business. Indonesia ships about $2 billion … Continue reading

Posted in General News | Leave a comment

Libya exports, supply glut pressure Nigerian oil

Assessments of Nigerian crude oil differentials for October loading cargoes fell further on Friday on strong competition from oil from other regions and slack European demand. A glut of physical oil has led to increased storage of West African and … Continue reading

Posted in General News | Leave a comment

Seaborne iron ore market rallies as some buying returns, steel improves

The seaborne iron ore market finally took back gains Friday after a steady period of weakening, tracking a small flow of buying interest ahead of the Chinese holidays and a slight boost in steel prices. Platts assessed the 62% Fe … Continue reading

Posted in General News, Shipping News | Leave a comment

Japan utilities burn record thermal coal in August

Japan’s regional power monopolies consumed record volumes of thermal coal last month to generate electricity amid a complete shutdown of the nation’s 48 nuclear reactors, industry data showed on Friday. Coal use totalled 5.71 million tonnes, up 0.3 percent from … Continue reading

Posted in General News | Leave a comment

Urgent Opec talks over lower oil price ruled out

opexOpec member Kuwait yesterday said there was no need to call an emergency meeting for the producers’ group to discuss sliding oil prices after crude hit a 17-month low. ‘We do not believe there is a need to call an … Continue reading

Posted in General News | Leave a comment

Crude Imports to U.S. Midwest Advance to Record, EIA Says

Crude oil imports to the U.S. Midwest increased to a record last week, according to the Energy Information Administration. Shipments to the region, known as PADD 2, climbed to 2.21 million barrels a day in the week ended Sept. 5, … Continue reading

Posted in General News | Leave a comment

Iran LPG exports to Asia rebound to nearly 300,000 mt in September

Iran’s LPG exports to Asia rebounded to nearly 300,000 mt for September loading after sliding to 152,000 mt in August, with most cargoes bound for China and one set for India, shipping sources said, September 11. China is scheduled to … Continue reading

Posted in Energy News, General News | Leave a comment

Indian thermal coal: South African 5,500 NAR supply seen tight

Supply tightness in South African 5,500 kcal/kg NAR coal was being seen, sources said Thursday, even as competitive offers for Australian and Indonesian material were not translating to deals amid limited demand.“There is demand, but there are no offers,” an … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

France Soft Wheat Exports to Decline by 15% on Quality

France’s soft-wheat exports, the European Union’s largest, are forecast to slump 15 percent after wet summer weather hurt quality, reducing the amount of grain suitable for milling into bread flour. French soft-wheat shipments may fall to 16.2 million metric tons … Continue reading

Posted in General News | Leave a comment

OPEC Cuts Demand Outlook by Most in 3 Years on U.S. Shale

OPEC reduced forecasts for the amount of crude it will need to supply by the most in at least three years as surging North American shale output reduces reliance on the group’s supplies. The Organization of Petroleum Exporting Countries expects … Continue reading

Posted in General News | Leave a comment