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Julia Payne

Oil slips as coronavirus fears offset gasoline recovery signs

Jul 09 2020

LONDON Oil prices edged lower on Thursday as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand.

Iraq to halve Basra oil exports in July: agent

Jul 01 2020

LONDON Iraq will reduce crude oil exports from its southern terminals in July, mainly its Basra Light flows, in order to comply with OPEC+ cuts after failing to meet its agreed quota in previous months, loading schedules from a shipping agent showed.

Oil major ConocoPhillips deploys low-code tech to boost bottom line

Jun 30 2020

LONDON ConocoPhillips has deployed a low-code platform called Mendix to cut costs and increase efficiency, making it the first major oil and gas producer to use such technology across the company, Mendix said in a statement on Tuesday.

RPT-Oil pricing agencies Platts, Argus launch new U.S. crude benchmarks

Jun 26 2020

LONDON/NEW YORK, June 25 After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers, a break from the old landlocked system.

Oil pricing agencies Platts, Argus launch new U.S. crude benchmarks

Jun 25 2020

LONDON/NEW YORK After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers, a break from the old landlocked system.

RPT-UPDATE 1-Mercuria sees oil market in deficit by 2 mln bpd in July

Jun 25 2020

LONDON, June 24 Energy trader Mercuria sees the oil market in deficit in July with stock draws reaching about 2 million barrels per day (bpd) as the world economy revives after coronavirus lockdowns, its chief executive told a Reuters webinar on Wednesday.

UPDATE 1-Mercuria sees oil market in deficit by 2 mln bpd in July

Jun 24 2020

LONDON, June 24 Energy trader Mercuria sees the oil market in deficit in July with stock draws reaching about 2 million barrels per day (bpd) as the world economy revives after coronavirus lockdowns, its chief executive told a Reuters webinar on Wednesday.

Commodities trader Trafigura H1 profit boosted by COVID-19 volatility

Jun 11 2020

LONDON, June 11 Trafigura recorded its highest first half net profit since 2016, despite $580 million in impairments, as its oil and metals trading divisions thrived in the extreme volatility caused by Middle East events and COVID-19, the company said on Thursday.

Vitol veteran Taylor, who transformed oil trade, dies aged 64

Jun 09 2020

SINGAPORE/LONDON/MOSCOW Ian Taylor, who built Vitol into the world's biggest oil trader, has died from pneumonia at the age of 64, the company said on Tuesday, after surviving bouts of cancer and a stroke last year.

Exclusive: Angola cuts oil shipments to China as it seeks debt relief

Jun 05 2020

LONDON Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus, three sources familiar with the matter said.

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