Less mixed has been the effects of the long oil trading boom on the New York Mercantile Exchange itself. NYMEX Holding Inc (NYSE:NMX) has more than doubled its quarterly profit since last year. The market is in the process of being acquired by CME Group Inc (NASDAQ:CME).
Royal Dutch Shell’s second-quarter profit climbed 33 percent due to record crude prices and higher natural gas. For full story, click here
India’s Reliance Industries plans to test-run its huge new refinery by September, as per company officials. An official was quoted as saying: Trial runs will begin in August-September as we started filling tankages this month only. Click here for more information
The U.S. Interior Department will continue selling to small refiners crude oil turned over to the government as royalties. For full story, click here
Mexico’s Pemex is planning for a new oil refinery with a processing capacity of 300,000 barrels per day of heavy crude. For full news, click here
South Korea’s spot fuel exports will decline in August by 16 per cent from July, due to a fuel oil production cut by SK Energy. For full news, click here
Indian Oil Corp (IOC), India’s largest fuel retailer, on Wednesday reported a 71% dip in its Q1 net profit as good refinery margins was not enough to cover the revenue loss on fuel sales. For full news, click here
Crude-oil inventories fell for the second consecutive week. Gasoline stockpiles also declined by nearly 2 percent, as per weekly US government data. For full news, click here
Even though U.S. government weekly oil data showed an unexpected decline in the country’s gasoline inventories, market participants questioned demand resilience in the face of record-high prices. For full news, click here
Canada based Verenex Energy Inc., a Canada-based has confirmed oil discovery in Ghadames Basin in Libya. For full news, click here
Get our independent commentary on oil trends and companies delivered to your inbox.
