Tricky timing for the US’ renewed crude exports
Timing is the biggest question mark surrounding the US’ decision to lift four-decades of restrictions on crude exports on December 18, as energy economics and geopolitics spawn an oil glut that has depressed prices to a 12-year low.
Demand for OPEC crude to fall by 200,000 bpd
OPEC's annual report for 2015 revealed that the oil producing cartel anticipates a drop in demand for its oil by 2020. Despite low prices, shale oil is set to play a significant role in the future energy mix, according to the report.
Iranian crude exports to India hit 5 year high
July marked the second time in the last six months that India had imported more than 500,000 bpd of Iranian crude. According to a report Indian imports of Iranian oil have increased by 48 per cent in the first four months of this fiscal year, to average 4......
Omani crude exports to fall by 50,000 bpd in 2017
ORPIC's Sohar Refinery upgrade project, which is due to be completed in the first quarter of 2017, is expected to reduce the amount of crude oil Oman has available for export by around 50,000 bpd.
Vopak Horizon Fujairah adds 478,000 cbm crude oil capacity
This new capacity is the first crude oil capacity in the Middle East for independent storage purposes with open access and very large crude carrier (VLCC) access. Its open access means capacity for all parties that need to store crude oil.