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Global Search News Archives
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1 hr agoRussian refiners start raising runs as works end, bitumen output startsWith fuel oil exports having tumbled since Russia's invasion of Ukraine, refineries in the country opted to cut processing in March and April.
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1 hr agoFUJAIRAH DATA: Bunker sales fall to two-month low in AprilTotal sales came to 670,063 cu m in April, down 3.8% from March and 1.4% lower than a year earlier, according to Fujairah Oil Industry Zone data compiled by S&P Global Commodity Insights.
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1 hr agoShipping integral to net zero fuel ambition: ICSS&P Global Commodity Insights assessed the lowest cost of hydrogen production via alkaline electrolysis in Qatar at an average of $2.59/kg in April, or 20% of highest priced region -- the UK -- at $13.14/kg.
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3 hrs agoEuropean ULSD swap differentials jump on future exclusion of Russian-origin dieselThe change in methodology follows feedback gathered that shows the market has moved away from Russian origin being traded on the same basis as other origins.
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3 hrs agoS&P Global Commodity Insights eliminates use of 'hand blends' in trades reported through US MOC process for 0.5%S marine fuelS&P Global understands that the stricter sulfur requirements imposed by the IMO 2020 regulations for 0.5%S marine fuel has resulted in trades that are often close to the maximum specifications compared to HSFO, and feedback suggests that hand blends may have a higher likelihood of specification and quality issues.
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3 hrs agoAsia residual fuels: Key market indicators for May 17-20The Singapore marine fuel oil market is expected to remain firm in the May 17-20 trading week, as tight availability of cutter stocks persist given relatively stronger gasoil crack spreads compared with low sulfur fuel oil.
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3 hrs agoREFINERY NEWS ROUNDUP: Biofuels consumption set to surge in EuropeConsumption of biofuels in the EU among three key sectors -- road, marine and aviation -- is set to surge further with major industry players advocating for long-term mandates and more ambitious targets in a bid to secure investment in infrastructure as well as energy independence.
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3 hrs agoWorld leaders have not done enough to deliver on COP26 commitments: UK's SharmaHe called for concrete action to accelerate progress in low-carbon steel and hydrogen, as well as for progress in exiting fossil fuels.
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3 hrs agoREFINERY NEWS: Hydrogen cluster to be set up in Germany's Ingolstadt areaA consortium is planning to set up a hydrogen infrastructure under a project dubbed HyPipe Bavaria / H2-Cluster Ingolstadt, which will supply the participating industrial sites and the region with hydrogen.
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3 hrs agoOIL FUTURES: Crude rises on potential China lockdown relaxation, supply tightnessShanghai has reported no new COVID-19 cases for three days in row, prompting Chinese authorities to move the city of 25 million inhabitants closer to a reopening at the beginning of June. This reopening is contingent on the city reporting no new cases until May 21.
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3 hrs agoNo longer possible to do business under old oil market model: PutinRussia's key crude grade Urals has been trading at record low values. Urals was assessed by Platts at $77.78/b on May 16, compared to Dated Brent at $113.135/b, S&P Global Commodity Insights data showed.
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3 hrs agoREFINERY NEWS: Spain's Bilbao restarting FCC, boilerThe Bilbao refinery is restarting its halted fluid catalytic cracker and boiler unit in Plant 3, which were halted May 14 and May 15 respectively for maintenance.
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18 hrs agoOIL FUTURES: Crude pushes higher as supply tightness offsets China demand concernsCrude prices rose midday, shaking off early-session selling pressure as the market weighed tighter global supply outlooks against uncertain Chinese demand.
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20 hrs agoEMEA Middle Distillates: Key market indicatorsWhile flat prices have remained volatile, European middle distillates markets have been broadly stable amid relatively tight supply of cargoes of jet fuel, 0.1% gasoil and ultra low-sulfur diesel -- especially in the Mediterranean -- but thin buying appetite to bring barges from ARA to inland demand centers.
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20 hrs agoPetrobras reaffirms fuel-pricing policy amid Bolsonaro criticism, shakeupState-led oil company Petrobras reaffirmed its commitment to keeping Brazil's domestic fuel prices at parity with international imports, despite renewed criticism of the company and an energy industry shakeup by President Jair Bolsonaro.
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20 hrs agoBearish factors steadily gripping oil market: analystsThe oil market is gradually being weighed down by bearish factors on both the demand and supply side, even as prices remain supported above $100/b amid the geopolitical ructions stemming from the Russia-Ukraine war, industry analysts said May 16.
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21 hrs agoUS product draws likely extend amid continued strong export demandUS refined product inventories likely declined in the week ended May 13, analysts surveyed by S&P Global Commodity Insights said May 16, with distillate stocks expected to test 17-year-lows amid continued strong export demand.
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21 hrs agoAMERICAS BUNKERS: Key market indicators May 16-20Volatility continues to be the main factor in pricing for bunkers in Latin America, with participants reacting cautiously and in a lagging way to the steep day-to-day changes seen in global oil markers.
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16 MayREFINERY NEWS ROUNDUP: Plants in Europe look for alternative suppliesFinland's Neste has "mostly replaced" Russian crude, while its remaining supply contracts will end in July.
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16 MayEU Council approves final regulation on priority EU energy projectsIt was agreed to end support for new fossil gas and oil projects, but to allow a transitional period to the end of 2029 for funding of gas projects that would be converted to hydrogen.