Page 4 - Basrah Light News Today

India still interested in Farzad B gas field as refineries eye Iran crude India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking forward to resuming crude trade with Iran...

India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking ...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Irans President Hassan Rouhani said May 20 that a "main agreement" has been reached, with the US broadly committing to lifting its sanctions targeting Irans oil, petrochemical, shipping, insurance and banking sectors, though final details have yet to be settled. US officials have been more circumspect, saying only that the four rounds of discussions so far have "crystalized" what s...

Sanctions relief for Iran would pressure rival heavy crude, condensate producers Four rounds of indirect talks between the US and Iran have so far failed to achieve a breakthrough in negotiations to revive the nuclear deal, but rival producers and traders have been eyeing how the competitive landscape may shift if sanctions are lifted on Iranian oil sales. Most experts expect an agreement on the Joint Comprehensive Plan of Action to be reached within months, if not weeks, which could eventually...

13 hours Gasoline Shortages Still Lingering Post-Colonial Pipeline Hack 15 hours California Requires Most Uber And Lyft Trips To Be Electric By 2030 17 hours China Bans Teslas At Government Compounds 18 hours Tanzania, Uganda Finalize Oil Pipeline Deal 19 hours Six-Year High Margins Prompt U.S. Refiners To Boost Gasoline Production 1 day UAE: Oil Demand Has Already Increased To 95 Million Bpd ...

REFINERY NEWS ROUNDUP: Mixed run rates in Asia-Pacific The BPCL Mumbai refinery on the west coast of India is currently running at full capacity even as partial lockdown has been introduced in many parts of the western region. It recorded a 118% run rate in March compared with 116% a year ago, while the run rate for 2019-20 (April-March) was 95%, compared with 115% in 2019-20, reflecting the impact of lockdown in 2020. However, India’s Reliance Industries Ltd. in March ran at 84% at its two r...

Singapore — Indian refiners are unlikely to pick up much spot Middle Eastern crude cargoes over the June and July trading cycle as several state-run refineries mull cutting down their operation rates and reduce middle distillates production amid faltering domestic fuel demand, putting a downward pressure on the Dubai crude market structure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Many Asian refineries have bee...

Source: Saudi Aramco. This being said, Saudi Aramco decided on a 20-50 cents per barrel increase with its Asia-bound May 2021 prices. Interestingly, the heavier the grade the bigger was the month-on-month hike, with both Arab Heavy and Arab Medium witnessing 50-cent upward moves, fuelling speculation that spot trading will bring about deep discounts to the OSP. After a blatantly weak February (4.56mbpd), Saudi loadings en route to Asian customers remained tame in March 2021 at 4.58mbpd. Compare...

SHARE The launch of Abu Dhabis Murban crude futures contract as well as the establishment of a new platform at the Dubai Mercantile Exchange to trade in different grades, allow for greater transparency and offer more choice to the market, according to an analyst. Last week, the DME, which trades Omans crude oil futures contracts, unveiled a new trading platform that will allow several crude grades to be traded through the exchange. The exchange, which is based within the Dubai International Fin...

IRAQ DATA: March oil exports drop 0.8% amid signs of tighter OPEC+ compliance Iraq’s total crude exports in March, including flows from the semi-autonomous Kurdistan region, fell 0.8% month on month, data from the oil ministry and shipping reports showed, amid signs of tighter compliance with OPEC+ output cuts. OPEC’s second largest producer exported 3.280 million b/d in March, down from 3.305 million b/d in February, according to published data from the oil ministry and shipping reports fr...