crude oil | Egypt Oil & Gas - Part 27
$3.5 Bn Joint Iran-China-Indonesia Crude Projects
Iran, China and Indonesia have reached a final agreement on building a refinery on the East Java island to process 150,000 barrels per day of heavy crude oil, an Iranian official said on Wednesday. The joint venture p...
Mashreq Petroleum to Establish Pipeline to Transport Oil from Port Said to the Mostorod Refinery
Mashreq Petroleum plans to construct a pipeline to transport crude oil from Port Said to Mostorod refining plant. In statements made to Al-Bourse, Mashreq Petroleum Chairman Tamer Abu Bakr said that the estimated inve...
Ruptured Pipeline Near Santa Barbara Leaks 21,000 Gallons of Crude Oil
By Matt Hamilton and Javier Panzar A ruptured pipeline near Santa Barbara leaked an estimated 21,000 gallons of crude oil Tuesday, some of which flowed into the ocean and left a thick coat of black tar along the coun...
Adnoc Balancing Crude Prices for Asia and Local Supply
Abu Dhabi National Oil Company (Adnoc) raised the retroactive prices of crude sold to Asia in April, after robust demand pushed up spot premiums for its grades. Prices were also boosted by a cut in supply of flagship ...
Oman May Issue Tenders Soon for Floating Storage Unit
Oman Tank Terminal Company (OTTCO) plans to start operating a floating storage unit later this year to ease trade of crude oil futures on the Dubai Mercantile Exchange (DME), trade sources said on Tuesday. The storage...
Tunisia Signs a Guarantee Agreement with ITFC
A bill on a guarantee agreement signed between Tunisia and the International Islamic Trade Finance Corporation (ITFC) was passed, Tuesday, at a plenary session of the House of People’s Representatives (HPR). It ...
India Beefing Up Reserves, Refining Iraqi Crude
India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply. India’s...
Oil Oversupply Not Helping Old Tankers As Originally Anticipated
As tanker owners with aged VLCC tankers were looking for an opportunity in the scrap market, in order to send their vessels for demolition, the opportunity of floating storage plays rose, giving those older ship anoth...
