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Oil was steady in Asia after jumping almost five percent on Wednesday as U.S. stockpiles data added to signs the demand outlook is improving.
(Bloomberg) Oil was steady in Asia after jumping almost 5% on Wednesday as U.S. stockpiles data added to signs the demand outlook is improving.
Futures in New York traded near $63 a barrel after closing higher for a third day, the longest run of gains in more than a month. U.S. crude inventories dropped the most in almost two months last week, while a gauge of gasoline demand ticked higher for a seventh straight week. The bullish data followed upbeat assessments by OPEC and the International Energy Agency.
The USCGG announced Wednesday that it had recovered one unresponsive person and that it was continuing to search for 12 missing people from a capsized commercial lift vessel south of Port Fourchon.
The U.S. Coast Guard (USCG) announced Wednesday that it had recovered one unresponsive person and that it was continuing to search for 12 missing people from a capsized commercial lift vessel eight miles south of Port Fourchon.
Rescue crews have so far searched more than 1,440 square miles during a combined search period of nearly 40 hours, the USCG revealed. The search area is larger than the state of Rhode Island, the USCG highlighted. Rescue assets involved in the search so far comprise the following;
West Africa s oil exports due for loading next month have struggled to sell, due to weak demand from the region’s regular customers in Asia and Europe and tougher competition from rival suppliers.
(Bloomberg) West Africa’s oil exports due for loading next month have struggled to sell, due to weak demand from the region’s regular customers in Asia and Europe and tougher competition from rival suppliers.
As much as half of Nigeria’s planned crude loadings for May haven’t yet found buyers, according to oil traders specializing in West African grades. The nation West Africa’s biggest oil producer is due to export around 1.68 million barrels of crude a day in May, the largest rate in three months, according to data compiled by Bloomberg.
Pemex s share of the gasoline and diesel market has fallen by double-digits with the arrival of competition.
(Bloomberg) Mexican President Andres Manuel Lopez Obrador’s controversial proposal to tighten control over the country’s fuel market has cleared the lower house of congress, another step in his long-sought goal of resuming the state’s energy monopoly.
With 292 lawmakers in favor, 153 opposed, and 11 abstaining, the chamber approved in general terms the president’s proposal to give national oil company Petroleos Mexicanos greater control over the recently liberalized fuel market that lured investments from Royal Dutch Shell Plc, BP Plc, Chevron Corp. and Exxon Mobil Corp. After debate on certain articles, the bill will be taken up by the senate, where the ruling Morena party and its allies have a majority.
One non-profit plans to make high-emitting methane and CO2 sources publicly visible at the facility level.
(Bloomberg) Efforts to identify and attribute global emissions will get a boost from satellites to be launched by a consortium including Carbon Mapper, the State of California, NASA’s Jet Propulsion Laboratory and Planet Labs Inc.
Data collected by the satellites will pinpoint and measure sources of methane and carbon dioxide, as well as more than two dozen other environmental indicators, the group said in a statement on Thursday. The first two satellites are set to launch in 2023, with more to be added two years later.