LONDON A global deal to cut oil production has had the unintended consequence of aiding Europe's older refineries by bolstering supplies of light crude while curbing shipments of the heavier grades favoured by more advanced plants in other continents.
ANTWERP Strong residual demand for oil products and the emergence of only a handful of new refineries will protect the profits of Europe's long struggling operations this year, but experts expect the hammer to fall on the weakest from 2018.
ANTWERP Increased refinery maintenance in Asia and the Middle East is expected to boost profits for operators in other regions in the first half of this year, market watchers said on Wednesday.
LONDON A West African drive to clean up toxic fuels that campaigners say pose a health hazard to millions has run into difficulties less than two months after it was announced, according to importers, traders and other oil industry insiders.
ANTWERP An extension of OPEC oil production cuts could push oil prices too high to meet Saudi Arabia and others' objective of balancing the market without encouraging U.S. shale output, Gunvor's head of oil market research said on Wednesday.
ANTWERP, Feb 1 An extension of OPEC oil production cuts could push oil prices too high to meet Saudi Arabia and others' objective of balancing the market without encouraging U.S. shale output, Gunvor's head of oil market research said on Wednesday.
LONDON Efforts to stem the world's surplus of crude oil have thus far only moderately balanced the market – but have turned typically lower-quality crude into the most sought after barrels.
LONDON Royal Dutch Shell cannot be sued in London over oil spills in Nigeria, the High Court ruled on Thursday, in a setback to attempts to hold British multinationals liable at home for their subsidiaries' actions abroad.
LONDON Oil prices fell on Friday, reversing earlier gains, on concerns that not all OPEC producers will cut output in line with an agreement reached in November, and a stronger U.S. dollar.
LONDON A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts predict could attract more cases against multinationals in Britain.