Durban bunker fuel prices plunge on improved supply: trade

London (Platts)--22May2015/615 am EDT/1015 GMT

Durban bunker fuel prices have plunged after the supply situation in the region picked up when a major supplier began quoting again, sources said Friday.

Ex-wharf Durban 180 CST high sulfur bunker prices plummeted $165/mt Thursday to $435.50/mt, while marine gasoil fell $102/mt to $730.50/mt.

Ex-wharf 180 CST HSFO was heard at $440/mt Friday morning.

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Engen began quoting prices again after supply levels improved, according to sources.

Durban bunker prices spiked after the SAPREF refinery, a

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¿Cuánto crudo de ‘fracking’ hay fuera de EE UU? 141.000 millones de barriles?




El País

Un análisis de la consultora IHS revela que Irán, México, Rusia y China serían los países con más potencial para extraer petróleo con esa técnica

Thomas Gualtieri Madrid 14 MAY 2015 - 07:05 CEST

 Pozos de petróleo en California (EE UU) donde se usa el método de 'frackiing'. / AFP

El uso masivo del fracking, la técnica no convencional de extracción de petróleo usada en Estados Unidos, ha revolucionado el mercado del crudo global. Su utilización ha permitido al país norteamericano aumentar la producción y reducir drásticamente las importaciones, algo que ha generado una sobreoferta mundial que se ha traducido en un desplome de los precios. Su potencial, sin embargo, puede ir más allá de las fronteras estadounidenses. Los investigadores de

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U.S. Approves Shell's Arctic Drilling Plan






 Image: Shell's Noble Discoverer

By Reuters 2015-05-11 15:45:29

Royal Dutch Shell's return to oil drilling in the U.S. Arctic for the first time since 2012 took a big step forward on Monday when the Obama administration approved the company's exploration plan.

The Department of Interior conditionally approved Shell's plan to explore for oil in the Chukchi Sea off Alaska. Shell has already spent about $6 billion on exploration in the Arctic.

The Arctic is estimated to contain about 20 percent of the world's undiscovered oil and natural gas, but its recovery could be decades away.

Shell proposes to drill up to six wells in water about 140 feet (40 meters) deep, using two vessels that can serve as relief-wells for each other

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Arctic oil drilling: Environmentalists condemn Obama decision to permit Shell exploration project in Chukchi Sea







Project due to take place in remote and dangerous location

New York


Environmentalists have questioned a decision by the Obama administration to approve oil drilling in the Arctic – the first since such exploration since a 2012 accident that saw a drilling rig run aground.

The Arctic is estimated to contain up to 20 per cent of the world’s untapped oil and gas reserves, but the process is difficult and dangerous and experts say its extraction could be years away.

On Monday, the Obama government gave conditional approval to a plan from Shell to drill for oil in the Chukchi Sea. Experts say it could hold up to 15 billion barrels of oil, but that

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CERAWeek: The Strategic Petroleum Reserve needs a makeover






Asad Zaidi / Bloomberg
The top 10 countries have 345 billion barrels of technically recoverable shale oil resources combined.


HOUSTON — The strategic petroleum reserve may be due for an update, a panel of midstream experts told IHS Energy CERAWeek attendees Tuesday afternoon.

The massive stockpile of crude oil — now holding just under 700 million barrels — was created in the 1970s to help buffer the U.S. from the effects of a sudden supply shortage.

But since the 1970s, the biggest risks to the oil markets have begun to shift away from the types of supply disruptions the SPR was intended to combat, said Sarah Ladislaw, an energy director at the the Center for Strategic

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