Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


Reuters: American oil companies are looking for “Basra crude” to compensate for losses

rocky
rocky
NNP TEAM
NNP TEAM

Posts : 203530
Join date : 2012-12-21

Reuters: American oil companies are looking for “Basra crude” to compensate for losses Empty Reuters: American oil companies are looking for “Basra crude” to compensate for losses

Post by rocky Fri 24 Sep 2021, 7:14 am

[size=30]Reuters: American oil companies are looking for “Basra crude” to compensate for losses
[ltr]2021.09.24 - 11:40[/ltr]
[/size]
  
Baghdad - people  
Analysts and traders said that the eyes of US oil refiners seeking to compensate for the lost crude after a storm that hit the Gulf of Mexico in the United States last month is turning towards Iraqi and Canadian oil, while Asian buyers seek to search for Russian and Middle Eastern crude.  
  
[You must be registered and logged in to see this link.]   
  
Royal Dutch Shell, the largest producer in the US Gulf of Mexico, said this week that damage to an offshore oil transportation facility due to Hurricane Ida will limit crude oil supplies from the Mars oil platform until early next year. This classification is widely used by Gulf US refineries and companies in South Korea and China, the two most important export destinations for Mars oil platform.  
The United States generally exports more than 3 million barrels per day of oil, mostly from the US Gulf Coast. With overall fuel demand rising to pre-pandemic levels, refineries will need to compensate for the shutdown caused by the shutdown of the Mars oil platform.  
The loss of up to 250 thousand barrels per day prompted some American refineries to search for alternatives to deliver the last quarter, especially the Iraqi Basra crude, and others received supplies of high-sulfur crude from American sources.  
Basra crude came to the fore during the previous turmoil. In 2019, when US sanctions on Venezuela cut refineries' grades of heavy crude, Iraq quickly boosted its oil shipments and Canada's heavy oil suppliers also benefited.  
Exxon Mobil Corporation and Placid Refining Co. received oil from the US Strategic Petroleum Reserve to meet immediate needs for sour crude.  
A crude oil trader in the US Gulf confirmed that some of the refineries that specifically needed to replace the barrels of the Mars rig had requested highly sulfur crude from the Strategic Petroleum Reserve. While many other oil refineries wanted to buy additional shipments of Basra crude oil for delivery in October (October), their prices were very appropriate given that the high-sulfur crude is in increasing demand.  
Earlier this month, Mars oil platform crude traded as high as $1.50 on the US West Texas Intermediate, but on Wednesday it was offered at a discount of $2.25 a barrel, returning to pre-storm levels. Most of the nine American refineries that stopped production during the Eda period have resumed production.  
The refiner bought Basra Oil Marathon Oil for filling in October, while data on Refinitiv Eikon showed that the Suezmax Jag Lina tanker was provisionally booked to load one million barrels of Basra Light crude on October 10 for the United States, although it was not clear on the date. Immediately identify the company that chartered the vessel.  
[You must be registered and logged in to see this link.]

    Current date/time is Tue 26 Oct 2021, 3:00 am