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November 29, 2020

Oil

India’s palm oil imports set to jump as tax cut lures refiners

Reuters
By Rajendra Jadhav, Mei Mei Chu MUMBAI/KUALA LUMPUR (Reuters) – India’s imports of palm oil are set to rise by as much as 100,000 tonnes a month from December after the government slashed import tax on the tropical oil, making it cheaper than rival edible oils, industry officials said on......

Venezuela judge convicts 6 American oil execs, orders prison

Detriot News
Detroit News – For more and to sign up click here Caracas, Venezuela – Six American oil executives held for three years in Venezuela were found guilty of corruption charges by a judge Thursday and immediately sentenced to prison, dashing hopes of a quick release that would send them home......

Venezuela judge orders prison time for 6 American oil executives

TheHill
USA TODAY – For more and to sign up click here Joseph Choi A Venezuelan judge sentenced six American oil executives to jail on Thursday after they were found guilty of corruption charges. The six Citgo executives were sentenced to more than 8 years in prison each after being asked to......

Colorado oil and gas regulators overhaul rules amid mission change

WashingtonExaminer
USA TODAY – For more and to sign up click here After months of hearings, Colorado’s oil and gas regulators on Monday adopted several new rules addressing everything from permitting to setbacks and wildlife protections. The rules changes were required by Senate Bill 19-181 which rewrote the Colorado Oil &......

Oil takes breather after vaccine rally as stockpiles rise

Reuters
TOKYO (Reuters) – U.S. oil edged lower on Wednesday, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials. FILE PHOTO: A TORC Oil & Gas pump jack is seen......

Iraq amends oil density compensation plan starting with 2021 exports

Reuters
FILE PHOTO: A worker sprays disinfectant as a preventive measure against coronavirus, at Nahr Bin Umar oil field, north of Basra, Iraq March 15, 2020. REUTERS/Essam Al-Sudani SINGAPORE (Reuters) – Iraq’s Oil Marketing Company (SOMO) has revised the price mechanism used to compensate buyers for fluctuations in the density of......

Oil prices extend gains on COVID vaccine hopes

Reuters
FILE PHOTO: A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. REUTERS/Jason Lee/File Photo SINGAPORE (Reuters) – Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were......

European shares supported by gains in retail, oil stocks

Reuters
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 18, 2020. REUTERS/Staff (Reuters) – European stocks edged higher on Friday as gains in retail and oil shares offset worries about U.S. politics and an impasse over fresh stimulus measures to support a......

Oil prices slip as surging COVID-19 cases overshadow vaccine hopes

Reuters
TOKYO (Reuters) – U.S. crude futures fell in early trade on Thursday, giving up some of gains from the previous day as surging COVID-19 cases and widening lockdowns raised fears over fuel demand, offsetting further upbeat vaccine news. FILE PHOTO: The sun sets behind a crude oil pump jack on......

TSX futures rise on higher oil prices, inflation data eyed

Reuters
(Reuters) – Canadian stock futures rose on Wednesday, helped by firmer oil prices, with investors awaiting inflation data due later in the day for clues about the domestic economy’s health. FILE PHOTO: A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch......

Aramco markets five-tranche bonds, seeking cash amid cheap oil

Reuters
DUBAI (Reuters) – Saudi Aramco 2222.SE began marketing a five-tranche U.S. dollar-denominated bond sale on Tuesday, as the world’s largest oil producer seeks cash after low oil prices dented its finances. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12,......

China makes rare, but small, draw on crude oil inventories: Russell

Reuters
(The opinions expressed here are those of the author, a columnist for Reuters.) FILE PHOTO: A China Ocean Shipping Company (COSCO) vessel is seen near oil tanks at the China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp in Dalian, Liaoning province, China October 15, 2019. REUTERS/Stringer LAUNCESTON, Australia (Reuters) –......

Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes

Reuters
SINGAPORE (Reuters) – Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France......

Trump Administration, in Late Push, Moves to Sell Oil Rights in Arctic Refuge

@BreaknNews
In a last-minute push to achieve its long-sought goal of allowing oil and gas drilling in the Arctic National Wildlife Refuge in Alaska, the Trump administration on Monday announced that it would begin the formal process of selling leases to oil companies. That sets up a potential sale of leases......

OPEC+ starts meetings to weigh further steps to support market

Reuters
By Alex Lawler, Ahmad Ghaddar LONDON (Reuters) – The Organization of Petroleum Exporting Countries and allies started meetings on Monday that will look at further action to support the oil market in 2021, as the second wave of coronavirus weighs on demand and prices. FILE PHOTO: The OPEC logo pictured......

IEA says Covid vaccine ‘unlikely to ride to the rescue’ of world oil market for some time

CNBC
CNBC – For more and to sign up click here Rail wagons for oil, fuel and liquefied gas cargo stand in sidings at Yanichkino railway station, close to the Gazprom Neft PJSC Moscow refinery in Moscow, Russia, on Monday, April 27, 2020. Andrey Rudakov | Bloomberg | Getty Images LONDON......

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