Canadian Oil Flows to Asia Surge After US Refinery Disruptions

Canadian Oil Flows to Asia Surge After US Refinery Disruptions

From bnnbloomberg.ca

Canadian crude shipments to Asia are set to surge to the highest in more than a year as US refinery outages force producers to find new outlets for their oil. At least 7 million barrels of heavy-sour crude produced in Canada’s oil sands have been sold to Asian buyers for February loading, according to people familiar with the matter. That’s the most since January 2022, Vortexa data shows. Unipec, the trading arm of China’s biggest state-owned oil refiner Sinopec, will take 3 million barrels, while PetroChina Co. and Indian refiner Reliance Industries Ltd. will each receive 2 million, said the people, who asked ... (full story)

- Older Stories
Market Insights Today: Bank of Canada’s dovish hike; Step up in share buybacks – 26 January 2023
From home.saxo|Jan 25, 2023
On the back of the weakness in the outlook, especially a 7%-8% sequential decline in its Azure cloud computing in the current quarter, from Microsoft, at one point in the New York ...
Equinor Looks To Offload $1 Billion In Nigerian Oil Assets
From oilprice.com|Jan 25, 2023
Equinor has hired Standard Chartered to assist in a sale of the Norwegian energy major’s stake in an offshore oilfield in Nigeria, industry sources told Reuters on Wednesday, in ...
Russian Oil Sales, Output Hold Steady Despite Ban
From energyintel.com|Jan 25, 2023
Russian crude oil exports have largely rebounded in the first half of January compared to December, the first month of the EU’s oil embargo and the G7 price cap on Russian ...

- Newer Stories
Means of production prices mostly rise in China
From en.people.cn|Jan 26, 2023
Most of the capital goods in China posted higher prices in mid-January of 2023 compared with early January, official data showed. Of the 50 goods monitored by the government, ...
Santos’ LNG-Linked Barossa Pipeline Project Suffers New Setback
From energyintel.com|Jan 26, 2023
Australian independent Santos' plans to send gas from the Barossa field to its Darwin LNG plant have been dealt another blow after a regulator directed it to identify underwater ...
UK Grid Asks Coal Reserve Units to Prepare to Run Thursday
From bnnbloomberg.ca|Jan 26, 2023
National Grid Plc asked Drax Group Plc to get two coal-fired power units ready to generate on Thursday. It’s the third time in four days that the grid operator has called on the ...

Related Stories