European jet fuel oversupply steals spotlight in 2015
With a tumultuous year for oil prices now in the rear-view mirror, Platts editors assess the structural shift observed on the European jet fuel market in 2015 and the outlook for 2016.
Signs point to increasing UAE oil supply; Iraq struggles to meet production targets
While the United Arab Emirates' major petroleum projects are going ahead as planned, Iraq is facing challenges to oil production growth.
Questions linger over US crude production, transportation, exports
Platts editors share what they heard in sessions and on the sidelines at the 2015 IHS CERAWeek, from questions over crude oil production to reassessing transportation and storage to reconsidering export restrictions.
Texas Gulf Coast crude landscape shifts with new production, imports
Crude oil markets are shifting along the Texas Gulf Coast, where imports of Canadian heavy crude and increasing light sweet from the Permian and Eagle Ford are creating new market opportunities.
Conclusions from International Petroleum Week 2015 events in London
Platts editors examine International Petroleum 2015 events in London, the general mood amongst the delegates and the impact of recent crude oil price volatility on traders.
Americas crude oil production, transportation trends to continue into 2015
It was a tumultuous year for crude oil in the Americas, and Canadian, Latin American and US crudes will keep evolving into 2015.
Higher crude prices see Saudis losing market share in China, India
Platts oil team discusses the shift in China's crude imports, the trend in Middle Eastern crude oil prices, and the growing appetite of other Asian crude buyers.
Canadian crude pushing out Saudi imports along US Gulf Coast
American crude editors discuss how information from the US EIA is pointing toward shifting North American oil import/export trends and new pipeline projects opening up more options for the industry.
Prospects, challenges as Australia explores new oil discoveries
Platts' oil team discusses Apache's find in northwest Australia; Santos' material gas condensate discovery; and the prospects of other fields in the area.
Tougher approach: EU mulls fresh Russia sanctions after Malaysian jet shot down
Platts' oil team discusses the importance of Russian crude oil and diesel supply to Europe, as the EU mulls fresh Russia sanctions after Malaysian jet shot down over Ukraine.
New report on Macondo disaster; liberalizing crude export policy; train car safety standards; OPEC sneak peak
Platts oil editors discuss conditions that lead up to the Macondo disaster, a new study on condensate and crude exports, a US DOT proposal for tank car safety standards, and a sneak peak into next week's OPEC meeting.
Prospect of Libyan oil ports reopening; the changing ICE Gasoil futures contract
Platts oil editors discuss an agreement between the Libyan government and rebels which could lead to the main crude oil ports reopening; and the latest move by ICE to cut the sulfur content in the specification of its benchmark Gasoil futures contract.
Industry insiders talk crude by rail concerns, Texas oil production boom at conferences
Platts editors discuss Texas oil production growth, including in the Eagle Ford and Permian Basin, and ideas of how to make crude rail transport safer, possibly by reducing volatility at the wellhead.
WAF crude exports to US recover on N. American logistics constraints
Platts oil editors discuss an increase in crude exports from West Africa to the US; the resulting price increase for related Nigerian and Med crude grades; and continuing Libyan problems relating to a tanker carrying illegal crude at Es Sider.
Transportation of North American crude affects market prices as industry faces regulatory uncertainty
Platts North American crude oil editors discuss how transportation, including rail and pipelines, are affecting prices, and more regulations could be on the horizon.
Renewable Fuel Standard debate continues; US midcontinent bottleneck loosens; Gulf rig efficiency goes up
Platts oil news team discusses the oil and ethanol industries' thoughts on the Renewable Fuel Standard, an increase in crude coming down to Texas, and how fewer rigs are producing more crude than ever.
Mexican crude production impacted by US shale development
Platts oil news team discusses Mexico's energy reforms which will allow investment by foreign oil operators, and the huge impact of US shale development on Mexico's crude production.
Partial lifting of Iranian sanctions; political chaos hits Libyan oil sector
Platts oil news team discusses the implications for the Iranian oil sector of the partial lifting of US and EU sanctions, and how the resignation of Libya's oil minister has added to the confusion in the country's oil sector.
Shallow-water drilling in Gulf of Mexico; rail safety standards and costs
Platts editors discuss discuss a public oil company preparing to access untapped resources below existing fields, the potential effects of tighter safety regulations on US crude-by-rail shipping rates and on railcar construction.
US-Mexico transboundary bills; the Brent/WTI spread; takeaways from a World Economic Forum meeting
Platts editors discuss a US-Mexico agreement to govern joint exploration of oil and gas resources, the Brent/WTI spread, and the New York meeting of the oil and gas division of the World Economic Forum.
Libyan crude exports resume; Jubail refinery in Saudi Arabia on stream
Platts editors discuss the recent resumption of some of Libya's crude exports and the possible impact of Saudi Arabia's Jubail refinery on global markets.
Asian buyers push for lower LNG contract prices at Tokyo conference
Platts Asia oil news team discusses the possibility of lower LNG prices, the pressure for change, and the main take-aways from the event.
Rep. Shimkus and the Renewable Fuel Standard; Bakken revives US East Coast; bunker fuel market transformation
Platts editors discuss how the Bakken has revived the US East Coast refining sector, and a shift to ships being outfitted with scrubbers and Shimkus' comments on the RFS.
Oil prices rise on prospect of Syrian conflict; Libya's oil output falls to 275,000 b/d
Platts oil news team discusses the impact of recent geopolitical events in the Middle East on oil prices, which have risen considerably over the last two weeks, amid heightened tension over Syria.
India mulls cutting oil demand as Chinese economy rebounds
Platts Asia oil news team discusses oil demand in India and China as well as issues surrounding Iranian crude imports.
Brent/WTI spread narrows to parity; Libyan protests hit production, exports
Platts oil news team discusses what has been behind the recent narrowing of the Brent/WTI spread and the steepening of the Brent backwardation curve.
Chevron deal for Argentina shale; Nigerian oil output struggling
Platts oil news team examines Chevron's recent deal to develop part of Argentina's Vaca Muerta, and also look at the latest problems affecting Nigeria's oil production.
US Bakken crude by rail arbitrage; oil industry job prospects; tighter sulfur regulations
US oil editors discuss the US Bakken crude by rail arbitrage shrinking as prices rise, the hiring situation in oil and gas companies, and tigher sulfur regulations going into effect in Europe and N. America in 2015.
Narrowing Brent/WTI spread; distillate production up; IEA medium-term outlook
Platts US editors examine the recent narrowing in the Brent/WTI spread, refineries moving toward diesel, and the medium-term IEA summary.
Browse LNG partners eye alternatives after shelving onshore plan
Platts oil news team examines the reasons for and reactions to Woodside's decision to shelve Browse, one of the biggest LNG projects in Asia, and the possible shift in focus to floating production options.
Proposed budget cuts of oil and gas tax allowances, more crude by rail to California, possible drilling boom in Illinois
Platts' editors discuss the Obama administration's proposed 2014 budget, which includes plans to cut $40 billion in oil and gas company tax allowances, California refiners to see more crude by rail to meet increasingly stringent state "carbon intensity" environmental guidelines, and how Illinois may be on the verge of renewed oil drilling boom.
New pattern of lease sale bidding; fracking wastewater recycling; spread between Brent and WTI
Platts' editors discuss a big Gulf of Mexico lease sale that reflected what may be a new pattern of bidding, regulatory changes that could affect wastewater recycling in hydraulic fracturing, and the narrowing spread between the European benchmark Brent crude and the US benchmark WTI.
Prices at the pump rise; Canada looks to send crude to Asia; shale plays get more focus
Platts Houston oil team discuss why gasoline prices at the pump are rising in the wintertime, the potential for sending crude produced from Canadian oil sands to Asia, and a growing trend among international upstream companies switching focus to huge shale and unconvential plays in the US.
Oil majors' earnings results announced; developments in sweet crude grade markets
Platts editors discuss key points surrounding the oil majors, following the release of their full year and Q4 earnings for 2012; examine sweet crude grades, where excess supply has been building up.
Drillers report earnings, deja vu for Keystone XL pipeline, climate change legislation
Platts editors discuss earnings reports from drillers and oil services, US senators urging Obama to quickly approve the Keystone XL pipeline, and the Obama administration's plans for climate change legislation.
BP suspended from new federal government contracts; Macondo fallout examined
Platts editors discuss the importance of the federal Gulf of Mexico lease sales and how BP is suspended from bidding on government contracts.
Evaluating ONGC's $5 billion gamble in Kazakhstan
Platts editors discuss ONGC's $5 billion swoop of ConocoPhillips' stake in the Kashagan oil field, and how winter demand affected partials trading and strong trading of grades compared to their official selling prices.
Market participants unprepared for Dodd-Frank; CME group lawsuit against CFTC for swap data reporting
Platts editors discuss the latest developments under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
China to expand refinery capacity; Canada getting cold feet over CNOOC-Nexen deal?
Platts editors discuss China's ongoing Communist Party Congress, their plans to expand refinery capacity, as well as the latest with the CNOOC-Nexen deal.
European refining margins stay strong in light of supply issues in North Sea, Southern Europe
Platts' European oil team discusses the supply disruptions in North Sea crude and the Southern European pipeline system, against a backdrop of strong refining margins in the region.
Late Japanese summer hits Pertamina premiums; North Asian sulfur bunker prices stay low
Platts markets editor Atsuko Kawasaki and Asian fuel oil editor Rajesh Nair, discuss low North Asian sulfur bunker prices, as well as Pertamina's decision to sell low sulfur waxy residue at lower premiums.
What impact will China and India's recent domestic oil price hikes have?
Platts oil market editors Song Yen Ling and Mriganka Jaipuriyar take a look at the different reasons why China and India have raised gasoil prices.
Asian middle distillates demand rises; VLCC market in slump
Platts senior managing editor for price assessments, Jonty Rushforth, and Pradeep Rajan, our Singapore-based shipping reporter, discuss the latest trends in the Asian oil markets.
Rising oil prices trigger speculation about a stock release
Platts' EMEA oil news team discusses the recent rise in world oil prices and the causes of the rally; whether or not the increase in prices might prompt the US to tap its emergency stockpiles.
Oil demand in China rises; InterOil facing trouble in Papua New Guinea
Platts editors Song Yen Ling and Christine Forster consider China's increase in oil demand, as well as InterOil's struggles in Papua New Guinea.
Affects of Chevron refinery fire on US gasoline market; high corn prices caused by US drought
Platts US editors dIscuss the affects of the Chevron refinery fire on the US gasoline market and high corn prices caused by the US drought.
Slowing economy hurting China oil demand; HSFO premiums hitting new highs
Asia-Pacific editor for Platts Oilgram News, Mriganka Jaipuriyar, and Oil Markets Editor, Jonathan Nonis, discuss the latest updates in oil prices and demand in Asia.
Ethane/propane mix oversupply; increased US diesel exports
Platts US news team discusses the increased diesel exports to Latin America out of the US West Coast, and the ethane/propane mix in the US midwest trading at an historic low due to oversupply.
US grants China exemptions on Iran oil; overlapping claim at South China Sea heats up
Platts Oilgram News' senior editor Mriganka Jaipuriyar speaks to news director Thomas Hogue, and senior writer Song Yen Ling, on the US granting exemptions on Iranian oil, as well as the Chinese recent claims in the South China Sea that have infurated Vietnam.
Implications of US, European sanctions on the global oil market, shipping industry
Platts' EMEA oil news team discusses the implications on the global oil market of US financial sanctions against Iran, in addition to the EU embargo on Iranian oil imports effective July 1; and with the shipping industry having been at the forefront of the EU sanctions, how well prepared the market has been for their onset.
First Central Gulf lease sale post Macondo; ATP Corp. sues US government; crude futures tumble
Alison Ciaccio, futures editor, and Starr Spencer and Gary Gentile, senior editors, discuss the first Central Gulf lease sale since the Macondo oil spill, ATP Oil & Gas Corp. suing the US government for damages incurred while awaiting drilling permits in the US Gulf of Mexico, and recent pressure on the futures oil complex.
Could US LNG make its way to Asian shores?
Upon their return from World Gas Conference in Kuala Lumpur, Platts news director Thomas Hogue, Oilgram News' senior editor Mriganka Jaipuriyar, and associate editor for Asia LNG Max Gostelow, discuss what went on in Malaysia, as well as the prospect of US LNG being exported to Asia.
Fate of BP's Russian joint venture still shrouded in mystery; dated brent crude hits 15 month low
Stuart Elliot, Geoff King, and Richard Swann discuss the unclear motives behind BP's statement that it may sell its stake its turbulent joint venture in Russia - TNK-BP; which companies are lining up to purchase any available stake; and the factors behind the continuing slide in crude oil prices, including the ongoing crises in key European national economies.
ExxonMobil looks to export natural gas; crude oil prices tumbling
Jeff Mower, editor-in-chief of Platts Oilgram Price Report, speaks to Starr Spencer, senior news editor, and James Bambino, futures editor, about US oil companies interested in exporting gas due to the emerging shale plays; and the macroeconomic concerns that have pulled crude futures lower by $20/barrel over the past month.
Iran shipping sanctions causing oil & methanol markets angst
Platts' news director of Asia, speaks to Takeo Kumagai, Tokyo oil correspondent, and Ng Baoying, associate editor for Asian petrochemicals and soft commodities, on the continuing implications of the Iran sanctions imposed by the US and European Union that have affected the oil and methanol markets.
Shipping industry hit hard by US and European sanctions on Iranian oil
Platts news director for Asia, Thomas Hogue, speaks to Goh Shu Hui, fuel oil markets reporter, and Pradeep Rajan, Platts' Singapore-based shipping reporter, on how the sanctions imposed on Iran by the US and Europe have impacted the shipping industry.
S&P cuts Chesapeake Energy's rating; export of distillates out of Houston Ship Channel increases
Platts editors discuss Standard & Poor's cutting Chesapeake Energy's corporate credit rating due to questions about their CEO's having a share in each of the natural gas producer's wells. They also discuss delays on the Houston Ship Channel due to increased distillate exports, which is turning into the new normal.
Australian Q1 oil production results released; and the paradox of subsidies
Platts news director for Asia, Thomas Hogue, speaks to Mriganka Jaipuryar, senior editor for Platts' Oilgram News, and Christine Forester, senior writer based in Australia, about the paradox of governmental regulation on oil prices, as well as the recent production results revealed by Australia's top oil producers.
Impact of recent oil spills significant; OPEC issues two oil production estimates
Platts EMEA oil news team discusses concerns surrounding recent oil spills, including the gas leak at Total's Elgin platform in the UK North Sea; and assesses the implications of OPEC having released two sets of data for their own crude oil production for the first time.
South China Sea oil rush triggers tensions in Asia
Mriganka Jaipuriyar, senior editor for Platts Oilgram News, speaks to Thomas Hogue, Asia news editor, about the overlapping claims of China and several ASEAN countries over the resource-rich waters of the South China Sea.
WTI/Brent spread and increase in US exports of refined products
John Kingston, director of news, Jeff Mower, editor-in-chief of Platts Oilgram Price Report, and Alison Ciaccio, futures reporter, discuss the wide WTI/Brent spread and the increase in US exports of refined products. What is keeping the WTI/Brent spread so wide, and what will be the "new normal"? Can US refiners continue to export products at a record pace without drawing too much political heat?
Alternatives to Iranian crude supply; Gunvor's refinery purchase; Brent and WTI rangebound between supply concerns and economic worries
Robert Perkins, senior news correspondent in London, Stuart Elliott, managing director of European news, and Geoff King, oil futures editor, discuss how Turkey is investigating alternatives to Iranian crude supply; the market is surprised at Gunvor's refinery purchase; and Brent and WTI are rangebound between supply concerns and economic worries.
India and Thailand in bidding war over UK's Cove Energy; new trend reversals on gasoil and fueloil prices
Jonty Rushforth, Thomas Hogue, and Mriganka Jaipuriyar discuss the bidding war between India's ONGC, GAIL and Thailands PTTEP to acquire UK Cove Energy and its gas assets; and why, after significant pricing strength at the end of 2011, gasoil cracks are at lowest level of the year, and fuel oil prices are dropping.
US political debate turns to high gasoline prices
Jeff Mower, editor-in-chief of Platts Oilgram Price Report, Keith Chu, associate editor for Inside Energy, and Robert Sharp, associate editorial director, discuss Obama's speech on gas price increases and the effect that the Iranian situation has had on gasoline prices internationally.
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