From Reuters India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said on Friday. “The price offered was very competitive,” Venkatesh said. The state-run refiner placed an order to buy 1 million barrels of the sour oil, he said.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vessel suspected of carrying Iranian oil to Syria in violation of EU sanctions An Iranian supertanker carrying oil allegedly bound for Syria was detained in Gibraltar by British Royal Marines this Thursday for violating sanctions put in place by the European Union, further straining the already tense relationship between and Tehran
From The Houston Chronicle Saudi Arabian Oil Co. has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer. “We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply through the Red Sea
From Reuters Talks between OPEC and its allies next month about whether to extend their pact on cutting oil supplies “won’t be easy” and may be complicated by the situation facing Iran and Venezuela, Kazakh Energy Minister Kanat Bozumbayev said. The Organization of the Petroleum Exporting Countries and other large oil producers, including Russia and Kazakhstan, meet in Vienna on
From Bloomberg WTI futures gain, as some see demand rising for U.S. barrels, why protect key Persian Gulf transit point, president asks? Oil investors delivered a split decision Monday that reflected the muddy outlook for the U.S.-Iran confrontation, with global benchmark Brent crude retreating while U.S. futures gained for the third straight day. Brent closed down 0.5% while U.S. West
By Tyler Losier, Energy Reporter, Oil & Gas 360 Downed drone leads to comments from White House As of mid-afternoon Thursday, WTI crude oil prices are trading at almost $57 after President Trump tweeted that Iran made a “very big mistake” by shooting down a U.S. spy drone over the Strait of Hormuz. According to CNBC, U.S. officials are reporting
By Tyler Losier, Energy Reporter, Oil & Gas 360 Two vessels seriously damaged after seemingly intentional strike Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as markets opened today. U.S. officials are blaming Iran for the incidents; however the country has vehemently denied any involvement. Source:
From Bloomberg Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for the city that allegedly violated sanctions on Iran. Washington wants to put China and the autonomous city on notice that
Plans to disrupt global oil trade would almost certainly involve hampering tankers moving through the world’s busiest oil choke point: Strait of Hormuz About two thirds of the world’s largest oil tankers travel through the straight; and one-third of the world’s LNG trade From The Daily Caller Iranian plans to disrupt the oil trade will likely involve hampering the world’s
From Bloomberg When OPEC and its allies gather in the Saudi Arabian city of Jeddah this weekend, their conversation will be dominated by a member of the group that isn’t there: Iran. As U.S. President Donald Trump squeezes oil exports from the Islamic Republic with sanctions, the discussions among other producers such as Saudi Arabia and Russia will likely focus
Iran abandons parts of nuclear deal amid heightened Mideast tensions
The latest U.S. State Department advisory simply warned: “Do not travel to Iraq” From the Washington Post BEIRUT — Two Saudi Arabian oil tankers and a Norwegian ship were damaged over the weekend near the Persian Gulf in what Saudi Arabia claimed Monday was an “act of sabotage,” further heightening regional tensions with Iran. There was no immediate indication as to who
