Latest news
Biggest oil refinery in Europe will be temporary off
In October and November, Royal Dutch Shell will be dealing with the upkeep of its 12 units at the Pernis oil refinery in Rotterdam, Netherlands.
read more... 05/10/2017
Lukoil aims to sell some foreign assets due to Crimea sanctions
Lukoil is seeking to reduce its refinery complex in Italy and concentrate on internal production.
read more... 22/09/2017
Daily (29.08.2017): Gasoline prices boosted by Hurricane Harvey, but crude oil prices lower
Oil prices fell on Monday as diminished oil supply was offset by the refinery shutdowns due to Hurricane Harvey. Traders expect refineries demanding less oil as they take weeks to come back on line. Brent crude, on the other hand, stayed stronger as the U.S. will demand product from Europe as well as due to some shut down of Libyan oil production over the weekend. Brent crude closed 1% down at $51.89, while WTI price lost 2.71% to end at $46.57 a barrel.
read more... 29/08/2017
Rosneft extends to the Asian market, buys India’s Essar Oil
Russian oil company has made a $12.9 billion worth purchase of the Indian refinery Essar Oil, which will enable them to establish and expand their services in one of the world’s fastest growing oil consumers.
read more... 23/08/2017
Daily (09.08.2017): Oil prices were bearish on Tuesday due to higher oil exports
Oil prices were bearish on Tuesday on increasing exports from United States, Libya and Nigeria. A recent recovery in Libya's oil output, and higher production in Nigeria, have complicated OPEC's efforts to curb supply. The U.S. EIA petroleum status report will be published on Wednesday, giving details on stockpiles and refinery runs that are expected to decline. Brent crude decreased by 0.44% to close at $52.14 a barrel, while WTI price fell by 0.45% to end at $49.17 a barrel.
read more... 09/08/2017