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November-loading heavy sweet crude cargoes have traded at lower prices than for October despite initial expectations of increases on the back of gas-to-oil switching by power utilities amid amid skyrocketing LNG prices, market sources said Oct. 12. Most recently, Petronas was heard to have sold via tender a 600,000-barrel cargo of Sudan/South Sudan’s Dar Blend ...
London — Norway's Equinor together with Shell, Total and the US' ConocoPhillips have agreed a plan to extend provision of low-carbon electricity to the giant Troll field, as the country increases its lead over the UK industry both in production and the decarbonization of the industry. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In a statement, state-controlled Equinor said the partners would spend nearly $1 billion on the project to provide low-carbon electricity, derived from the renewables-based national grid,...
Singapore — Spot cash premiums for June-loading barrels of Malaysian and Vietnamese crude oil have eased on the month amid demand concerns as COVID-19 cases spike in Asia, ample availability of arbitrage cargoes, and a wide Brent/Dubai EFS, market participants said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now COVID-19 resurgences in key demand centers in Asia, such as Thailand and India, raised concerns on demand for regional crudes weakening, they said. "There is a potential for further lockdowns in Thailand a...
Asia crude: Key market indicators this week Asia’s crude oil market continued to surge above $70/b at the start of the week March 8-12, after Saudi Arabia’s energy ministry reported a drone attack by Iranian-backed Houthi rebels from Yemen on the morning of March 7, that hit a petroleum storage tank at the Ras Tanura port. May ICE Brent crude futures was pegged at $71.17/b at 0300 GMT March 8, $3.50/b higher from the 0830 GMT Asian close on March 5. MIDDLE EAST CRUDE **The week commences with the issuance of official selling prices by Middle East producers. Saudi Aramco issued OSPs for Ap...
Spot premiums of Australia’s Vincent crude hit a new record amid strong demand for low sulfur marine fuel, trade sources said. Two 550,000-barrel cargoes of Vincent crude for March-loading were heard to have traded at premiums of around $11.50/b to Platts Dated Brent crude assessments, FOB, much higher compared to the high-$9s/b premiums heard for ...