Asia’s top refiner Sinopec Corp. declared that it has processed 86.9 million tonnes of crude oil, or 3.5 million barrels per day, in the first half of this year, up 1.82 percent from a year earlier. For full story, click here
Colombia’s June crude oil output surged to an average 660,000 barrels a day from 585,000 barrels a day in the same month last year. For full story, click here
Nigerian crude exports for August have expected to total at least 1.46 million barrels a day from the 10 provisional loading programs seen so far by traders Thursday. For full story, click here
Crude oil output by LukOil Group surged by 3.2 percent y-o-y to 1.976 million barrels per day. For full story, click here
OPEC-related output cuts at Chevron’s oil fields in Venezuela have held steady at between 50,000 and 70,000 barrels per day in recent months. For full story, click here
Oil traders who have been keeping as much as 100 million barrels of crude on tankers to profit from forward prices are likely to commence selling the cargoes as the incentive to store wanes. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Cameroon’s oil output is expected to stabilise at 84,000 barrels a day for the next two years then rise a little in 2011 when six fields are put into production, a senior official at the state-owned oil company. Simon Tamfu, exploration manager at the state-owned National Hydrocarbons Corporation, stated: Production will stabilise at this level [...]
India’s leading state run refiner, Indian Oil Corp, bought four million barrels of West African crude oil via its third tender for June loading sweet crude. For full story, click here
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
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