Oil prices eased modestly early on March 28 after advancing rebels in Libya announced that they would be able to resume crude exports in a week and Qatar promised to help them market their product on world markets.The price remains 8 percent higher than it was a month ago, and 30 percent higher than a year ago, challenging global economic recovery.
Continue reading "Oil Prices to be Volatile"
Monday, March 14, 2011
Spot market oil prices fell to a two-week low in New York on speculation that the worst earthquake in Japan’s history will hurt growth and reduce fuel demand in the world’s third largest economy.
Continue reading "Oil Industry Impact from Earthquake in Japan"
Thursday, July 8, 2010
Japanese and South Korean refiners have increased oil purchases from Russia, eroding the dominance of Middle Eastern suppliers and electing for a more competitive crude source that is three weeks closer by ship. While Russian exports have surged over the last 6 months, the Middle East remains dominant, with total Middle East output in June around 19.9 million barrels, while Russia’s output was 10.3 million barrels, peaking at 330,000 barrels a day in June.
Continue reading "Russia and Middle Eastern Oil Sources Competing for Asian Business"
Thursday, July 23, 2009
A plunge in Japanese crude imports last month and weekly refining rates just over 70 percent show that demand in the world’s third-leading oil consumer is still weak and any pick-up promises to be slight. For full story, click here
Continue reading "Japan Crude Imports Plunged, Run Rate has Inched Up"
Thursday, July 23, 2009
Japan’s Nippon Oil Corp declared that it had filed a lawsuit with the Tokyo District Court, asking for a rejection of the National Tax Tribunal’s findings in January that imposed extra taxes on the refiner on gains from energy derivatives trading. For full story, click here
Continue reading "Nippon Oil has filed suit over Japan Tax Office Finding"
Thursday, June 25, 2009
Japan Energy Corp, the nation’s sixth-biggest oil refiner, declared that it plans to cut its crude oil processing volumes for July-September by 9 percent from a year earlier due to slow domestic demand. For full story, click here
Continue reading "Japan Energy will cut Q3 refining on weak demand"
Wednesday, June 24, 2009
Japan Energy Corp, the nation’s sixth-biggest oil refiner, declared that it plans to cut its crude oil processing volumes for July-September by 9 percent from a year earlier due to slow domestic demand. For full story, click here
Continue reading "Japan Energy will cut Q3 refining on weak demand"
Wednesday, June 3, 2009
Kuwait News Agency declared that Kuwait’s crude oil exports to Japan plunged 28.2% in April from a year earlier to 10.59 million barrels or 353,000 barrels per day. Japan is Kuwait’s leading oil buyer with accounting for 20% of its total crude exports. For full story, click here
Continue reading "Kuwait Crude Oil Exports to Japan dipped 28%"
Tuesday, June 2, 2009
Japan may be forced to shut more than a fifth of its refining capacity, at least 1 million barrels per day, in the next five years as oil demand slipped faster than expected. For full story, click here
Continue reading "Nippon Oil declared that Japan must shut 1 mln bpd by 2013"
Friday, May 29, 2009
Japan’s leading refiner, Nippon Oil Corp. declared plans to refine 4 percent less crude in June from a year ago, a company executive declared on Friday, as domestic demand for oil products remains sluggish. For full story, click here
Continue reading "Japan’s Nippon Oil has seen June Crude refining dips 4 percent"
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Monday, March 28, 2011