Oil prices rose on Tuesday after Libya declared force majeure on some of its supplies, while an ongoing Canadian outage lifted U.S. crude to levels not seen since late 2014. U.S. West Texas Intermediate (WTI) crude futures were at $74.73 at 0724 GMT, up 79 cents, or 1.1 percent, from their last settlement. They earlier […]
Day: July 3, 2018
Prepared to work with nations that are reducing oil imports from Iran: US
The US is prepared to work with nations that are reducing their oil imports from Iran on a “case-by-case basis”, but will not grant waivers to countries like India and Turkey as it could substantially reduce pressure on sanctions-hit Tehran, according to a senior Trump administration official. Iran is India’s third-largest oil supplier behind Iraq […]
Coal imports in Apr-May dip marginally to 36 mn tonnes
Coal imports in the first two months of the ongoing fiscal registered a marginal decline of 2.6 per cent at 36.49 million tonnes (MT). The drop in coal imports comes at a time when some regions, including the national capital, are facing power shortage due to fast depleting coal stockpiles at power plants. “Overall, coal […]
India’s MRPL buys first Iraqi Basra Heavy crude from Shell
Mangalore Refinery and Petrochemicals Ltd has bought its first cargo of Iraqi Basra Heavy crude from Royal Dutch Shell via a tender, two sources with knowledge of the matter said on Tuesday. MRPL is likely to blend the 1 million barrels Basra Heavy crude, which will be delivered in September, with lighter grades so it […]
JERA beefs up into Asian trading giant with EDF’s LNG business
Japan’s JERA has bulked up into one of Asia’s biggest energy traders with its second acquisition of a key team from France’s EDF Trading – its LNG business – a deal aimed at making the utility more savvy and nimble, as well as gaining better access to European markets. The signing of the deal, which […]