Crude Oil Extends Decline From One-Week Low Ahead of Brexit Vote

Crude fell a fourth day after closing at a one-week low as concern mounts over the strength of global growth as Britain votes later this month on whether to leave the European Union.

Futures fell as much as 0.8 percent in New York after settling at the lowest since June 3 on Monday as investors looked ahead to a June 23 referendum that will determine Britain’s membership in the EU. Shale drillers added 12 oil rigs in the U.S. over the past two weeks in the first consecutive weekly gains since August, according to Baker Hughes Inc. data.

QTY.: 1,000,000 SPOT 2 TO 5 MM X 12 CONTRACT JP54 CI DIP & PAY AT ROTTERD

JP54 CI DIP & PAY - ROTTERDAM

(1) IF BUYER HAS TANKS  7/8 LESS PLATTS.   50 CENTS CLOSED. 50 CENTS OPEN

(2) IF BUYER DOESN'T HAVE TANKS 6/7 LESS PLATTS.   50CENTS CLOSED. 50 CENTS OPEN

Procedures:
1) Buyer provides ICPO and RWA letter from his bank
2) Seller sends CI
3) Buyer executes CI and returns
4) Seller sends full POP: SGS/DTA or Pre-Injection report
5) Buyer verifies POP and pays by MT 103 within 12 hours.
6) Documents titled in end buyer's name and Buyer lifts
7) Seller/Buyer negotiate contract.‏

CI Dip & Pay MAZUT-100 GOST 10585/75 is available at the moment

Our seller just confirmed to us on monday that CI Dip & Pay MAZUT-100 GOST 10585/75 is available at the moment and they are looking for a serious buyer to purchase the product in Kosmino/Nakhodka Port and we have Tank receipt and the SGS available for verification. This documents are in our custody as i am writing you!


Kindly revert back to us immediately if your buyer is ready to purchase the said product MAZUT-100 GOST 10585/75 from our seller with quantity 55.000 metric tons, to enable us request for the procedure from the seller as soon as possible. Be adviced that your buyer must act very fast on the allocation because we are not the only mandate working for the refinery

Only serious buyers should Email us.

OFFER FOR AFRICAN WOOD OFFER FOR AFRICAN TIMBER,LOGS,SAWN WOOD,PLANKS ETC.

Here are other wood species that we have in stock NOW CONFIRMED FOR EXPORT

AZOBE =€305/cbm fob douala port

BUBINGA=€275/cbm fob douala port

DOUSSIE(PACHY)=€2805cbm fob douala port

KOSSIPO=€275/cbm fob douala port

PADOUK=€305/cbm fob douala port

TALI=€285/cbm fob douala port

EKOP BELI (price upon request)

SUPPLY ABILITY

1000CBM+ FOR LOGS

300-600CBM+ FOR SAWN WOOD

LOADING 2-WEEKS MAXIMUM

OFFER EXPLICITLY FRESH CUT LOGS

WILL LIKE BUYER OR BUYER MANDATE TO VISIT

LOGS RANGE FROM 0.3M+ FOR DIAMETER AND 5-70CM+ LENGTH

PAYMENT CAD/TT/DP

COMMISSION-PREFER TO DISCUSS WHEN EXCHANGING MAILS.

PS
Wood samples available upon request.

email us at: mpn.gblobal.ventures@gmail.com or info@afrishoponline.com

Magee Hanson

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Crude oil price weighed down by weak demand

Crude oil price differentials for Nigeria stayed under pressure, Friday, having fallen this week, weighed down by weak demand from large Asian buyers.
Nigeria’s largest stream, Qua Iboe, was assessed at its lowest premium to dated Brent in two years. Refining margins in Europe and Asia have been weak, curbing non-essential buying interest, say traders. “Margins and cracks have improved, but it does not seem to changed things very much,” said one.

W. Africa Crude-Sagging demand keeps differentials weak

LONDON, June 30 (Reuters) - Nigerian crude oil cargoes
failed to attract much interest from buyers on Monday, traders
said, with expectations that differentials will fall further
keeping activity thin. 
    There were still around seven cargoes due to load in August
available on top of more than 50 for July, a trader said. 
    Slack demand from European refiners that have cut runs due
to lower margins has hit demand, while sharper drops in
differentials in crudes from other regions have limited demand
from Asia and elsewhere. 

Shell Nigeria Declares Force Majeure on Forcados Oil Exports

IBADAN, Nigeria--Royal Dutch Shell PLC's (RDSA, RDSA.LN) Nigerian unit said Tuesday it has declared force majeure on the shipping of the Forcados oil blend from Nigeria after it shut an export pipeline due to a leak.

Crude above $101 a barrel on higher than expected US GDP; supply worries

The price of oil advanced past US$101 a barrel Thursday following an upward revision to U.S. growth figures and ongoing concerns about tight supplies.
Benchmark West Texas Intermediate crude for May delivery rose $1.02 to close at US$101.28 on the New York Mercantile Exchange. That is the highest closing price in three weeks. On Wednesday, oil jumped $1.07 to close at US$100.26.

Chevron Is Said to Seek Buyers for $1 Billion in U.S. Assets

Chevron Corp. (CVX) is seeking to sell pipeline and storage operations in Texas and Louisiana that together may fetch more than $1 billion, people familiar with the matter said.

Chevron is working with Jefferies Group LLC to find buyers for at least four natural gas and crude oil pipeline operations, said two of the people, who asked not to be named because the process is private. The San Ramon, California-based company began sending out offering materials this week, the people said.

Ezekwesili Challenges Okonjo-Iweala to Account for 'Missing' U.S.$10.8 Billion' Oil Money - PREMIUM TIMES

Former Vice President of the World Bank, Oby Ezekwesili, has taken the Minister of Finance, Ngozi Okonjo-Iweala, and the Nigerian National Petroleum Corporation (NNPC) to task over the sloppy manner the government has handled the issue of the 'missing' $49.8billion oil money.  The Governor of the Central Bank of Nigeria, Lamido Sanusi, had, in a memo to President Goodluck Jonathan accused the NNPC of diverting huge oil revenue that should be paid to the federation account.

Could the U.S. Export Crude Oil? It's Time to Rethink the Unthinkable

The four-decade ban on domestic crude exports was originally codified because the U.S. wanted greater energy security during the 1973 Arab oil embargo. The ban was unquestioned until recently, when lawmakers started to consider the unthinkable: that the U.S. may repeal the export ban on crude oil.

BRENT CRUDE OIL FUTURES RISE BY MORE THAN $1 PER BARREL

BRENT CRUDE OIL FUTURES RISE BY MORE THAN $1 PER BARREL

Crude oil thieves are being sponsored by the Federal Government, the Speaker of the House of Representatives

Crude oil thieves are being sponsored by the Federal Government, the Speaker of the House of Representatives, Aminu Tambuwal, has said, insisting that the crime is not being perpetrated by ordinary criminals, but by those who enjoy the backing of government.
Tambuwal, said this at the inauguration of the House Ad-hoc Committee on Crude Oil Theft in Nigeria in Abuja, noting that the only way to fight the crime is for the Economic and Financial Crimes Commission (EFCC) to arrest and prosecute suspected crude  oil thieves in the country.

End of the year take on the energy sector

Energy has become, increasingly, a major focus of the British Columbia economy with billions of dollars of proposed projects. Those include Enbridge's controversial $6.5-billion Northern Gateway and Kinder Morgan's $5.4-billion Trans Mountain pipeline expansion. There are also billions in liquefied natural gas projects being considered by global energy heavyweights such as Exxon Mobil, Shell and the BG Group. The Vancouver Sun talked with Canadian Association of Petroleum Producers president David Collyer for a year-end take on these major projects.

Crude Oil boosted by products demand

Crude oil futures ended higher on Thursday, boosted by demand for refined products after industry data earlier this week showed a steep decline in gasoline and distillate inventories. 
US gasoline and ultra low-sulfur diesel (ULSD), more commonly known as heating oil, futures both rose to more than three-month highs in intraday trading as large French refineries remained offline due to strikes.

While US crude stocks unexpectedly rose last week, refineries boosted output and distillate and gasoline stockpiles fell, a report from industry group the American Petroleum Institute said late on Tuesday, indicating strong demand for oil products, including exports, Reuters reported.

Crude oil held steady near $99

NEW YORK, Dec. 26 (UPI) -- Crude oil prices held steady at a lot more than $99 per barrel on the New York Mercantile Exchange Thursday.West Texas Intermediate crude oil added 10 cents to $99.65 per barrel.
Reformulated gasoline blendstock for January was up 1.05 cents at $2.8247 a gallon.
January heating oil added 2.55 cents to $3.1038 a quart while natural gas rose 2.1 cents to $4.437 per million British thermal units.
The national average price of unleaded regular gasoline rose at the pump, climbing to $3.268 a quart from Wednesday's $3.264, the AAA Daily Fuel Gauge Report said.

Crude, refined oil import falls by 20pc in Q1

State-owned Bangladesh Petroleum Corporation (BPC) imported around 1.2 million tonnes of crude and refined oil during the first quarter of fiscal year (FY) 2013-14, down by 20 per cent from the same period of the previous FY, a senior BPC official said.

The import cost also dropped by 25.69 per cent to US$821.81 million during the July-September period of this year from $1.10 billion of the same period of the previous fiscal, he said quoting statistics from the country's central bank.

The closure of the country's lone crude oil refinery, the Eastern Refinery Ltd (ERL) and suspension of several oil-fired power plants under cost-cutting measure led to the fall in petroleum consumption, he said.

The BPC did not import 100,000 tonnes of crude oil for refining in its subsidiary ERL during the August-September period as it was on 40-day routine overhauling, said the BPC official.

Brent crude rises

Brent crude futures edged higher on Thursday after seven straight sessions of losses, as the threat of Hurricane Sandy to East Coast gasoline and heating oil supplies lifted markets. Gasoline led the oil complex higher, standing up more than 2 percent in afternoon activity, and heating oil also rose as Sandy churned northward. Expectations of heavy snowfall in the Appalachians, and the possibility refineries along the coast could face disruptions helped drive prices. 

Oil boom gives U.S. new options

Things are going so well, the United States has surpassed Saudi Arabia to become the world's largest oil producer. The milestone was reached in mid-October, when total crude-oil and biofuel production hit 8 million barrels a day -- an increase of 2 million barrels a day from 2011.

The industry is predicting that by the end of 2014, the U.S. oil industry will be producing 13 million barrels a day -- an amazing feat.

Nigeria: Shell Disagrees With Amnesty, CEHRD Over Oil Spills Investigations

The Shell Petroleum Development Company of Nigeria (SPDC) has described as “unsubstantiated assertions”, a recent statement by Amnesty International and the Centre for Environment, Human Rights and Development (CEHRD) that it manipulates investigations into series of oil spills in Nigeria.

The two global bodies had declared that Shell's claims on oil pollution in the region were "deeply suspect and often untrue."