Aramco tells Japan’s top distributor about possible shipment change: Report

Sunday, 22 September 2019

Saudi Aramco has notified Japan’s biggest oil distributor about potentially changing the oil grade it supplies from light to heavy and medium starting in October, Nikkei Asian Review said on Sunday. According to JXTG Nippon Oil & Energy, Japan’s biggest distributor, Aramco did not mention why it wants to change the shipments. JXTG officials told the Nikkei Asian Review that they believe Aramco is taking more time than expected to repair its desulfurization facility, which is ...

Poland's PKN says receiving Saudi oil as scheduled

Friday, 20 September 2019

Poland’s biggest oil refiner PKN Orlen receives oil from Saudi Aramco as scheduled and shipments with September and October delivery dates are on their way, CEO Daniel Obajtek said on Friday. PKN Orlen has a long-term deal with Saudi Aramco on deliveries of 300,000 tons of crude per month. It was also supposed to receive up to 800,000 tons of crude oil from Saudi Aramco Products Trading company in six spot deliveries between May and October. “Oil ...

Saudi Aramco books at least 120,000 T European naphtha for Asia after attacks

Friday, 20 September 2019

Saudi Aramco has booked at least 120,000 tonnes of naphtha for September loading from Europe in a rare move as it seeks to plug a supply gap following attacks on its oil facilities on Saturday, industry sources said. Data from Refinitiv Oil Research shows that Aramco chartered vessel British Resolution to lift 80,000 tonnes of naphtha from Tuapse, Russia, on September 17 followed by the STI Exceed to lift 60,000 tonnes from Eleusis, Greece, on September 24.

Saudi Aramco confident full output from Khurais to resume by end of Sept

Friday, 20 September 2019

Saudi Aramco is confident full production will resume by the end of September from Khurais, one of two oil sites attacked about a week ago, a company executive said on Friday. Aramco was shipping equipment from the US and Europe to rebuild the damaged facilities, Fahad Abdulkarim, Aramco’s general manager for the southern area oil operation, told reporters on a tour organised by the state company. Reuters reporters were shown repair work under way, with cranes erected around two ...

Exxon Mobil, Shell among groups picked to build five Pakistan LNG terminals

Friday, 20 September 2019

Pakistan has selected groups that include Exxon Mobil Corp and Royal Dutch Shell to build five liquefied natural gas (LNG) terminals as it aims to triple imports and ease gas shortages. The terminals could be in operation within two to three years, Omar Ayub Khan, Pakistan’s minister of power and petroleum, said in an interview on Friday. Pakistan is chronically short of gas for power production and to supply manufacturers such as fertilizer makers, hobbling the ...

Quick return of Saudi oil output would demonstrate resilience: Moody’s

Thursday, 19 September 2019

Saudi Arabia’s ability to quickly restore oil production after the weekend’s attacks on its oil facilities would demonstrate an important degree of resilience to potentially very damaging shocks, Moody’s said on Thursday. Energy Minister Prince Abdulaziz bin Salman on Tuesday the kingdom will restore its lost oil production by the end of September. The attacks on state-owned oil company Saudi Aramco’s plants in Abqaiq and Khurais, including the world’s largest oil ...

Iraq’s oil marketer SOMO denies Saudi Arabia requested crude supplies: Report

Thursday, 19 September 2019

Iraq’s State Organization for the Marketing of Oil (SOMO) on Thursday denied that Saudi Arabia had asked it for crude supplies for its domestic refineries, the Iraqi state news agency reported. SOMO “categorically denies any request from the Kingdom of Saudi Arabia to supply it with crude,” the news agency cited its head Haidar al-Kaabi as saying. The Wall Street Journal earlier reported that Saudi Arabia had asked for as much as 20 million barrels of crude.  

Iran oil minister Zangeneh says US using oil as a ‘weapon’

Thursday, 19 September 2019

Iranian Oil Minister Bijan Zangeneh on Thursday accused the United States of using oil as a “weapon” and said that balance in the oil market would be restored “soon.” “The United States is now using oil as a weapon; oil is not a weapon,” Zangeneh was quoted as saying by the Iranian oil ministry’s SHANA news agency. He also said OPEC members must “get along with each other” under the current circumstances.

Oil price drops for second day as Saudi Arabia’s crude output recovers

Thursday, 19 September 2019

The price of oil fell Wednesday after Saudi officials announced oil production halted by an attack on the heart of its oil industry would be fully restored within weeks. Prices continued to slide even as the Saudi military blamed Iran for the attacks and US Secretary of State Mike Pompeo called the strike an “act of war.” Benchmark US crude fell more than two percent to $57.88 per barrel in midday trading. Brent crude, the international benchmark, fell two percent to $63.16 per ...

Ethiopia rejects Egypt’s plan for operating giant dam on the Nile

Wednesday, 18 September 2019

Ethiopia on Wednesday rejected a proposal by Egypt to operate a $4 billion hydropower dam the Horn of Africa country is constructing on the Nile, further deepening a dispute between the two nations over the project.In a press conference in Ethiopia’s capital Addis Ababa, Sileshi Bekele, minister for water, irrigation and energy described Egypt’s plan including the volume of water it wants the dam to release annually as “inappropriate.”“The proposal from Egypt was ...

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