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.
Showing posts with label Crude oil. Show all posts
Showing posts with label Crude oil. Show all posts
Saturday, March 29, 2014
Saturday, January 18, 2014
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.
Thursday, December 26, 2013
Crude oil thieves are being sponsored by the Federal Government, the Speaker of the House of Representatives
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.
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.
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.
Sunday, November 24, 2013
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.
Wednesday, July 24, 2013
Crude oil edges lower after IMF cuts global growth forecast
Investing.com - Crude oil futures declined on Tuesday, after the International Monetary Fund cut its estimate for global economic growth in 2013.
Investors now looked ahead to the release of key U.S. weekly supply data to gauge the strength of oil demand from the world’s largest consumer.
On the New York Mercantile Exchange, light sweet crude futures for delivery in August traded at USD102.77 a barrel during U.S. morning trade, down 0.35% on the day.
New York-traded oil prices held in a range between USD102.31 a barrel, the daily low and a session high of USD103.39.
Not Your Mothers Crude Oil
I am a big fan of trains. I have always been. It’s just that now, there are few trains which move people. In Detroit Lakes you can get a passenger train going east or west at 3 AM . Not exactly convenient. One reason is that trains no longer move people: they move oil, gas and coal- over a thousand cars a day through Detroit Lakes. Our town is about the same size as Lac-Megantic, Quebec which suffered from a train derailment disaster on a train carrying fracked Bakken oil.
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Tuesday, September 18, 2012
Different Types Of Crude Oil
Types Of Crude Oil
A lot people arbitrarily converse about oil not knowing oil is not a solitary, indistinguishably the same substance without the basic knowledge of any distinctive differentiation, but it is really not the situation in the least! In reality, you'll find quite a few various types of oil. In its healthy, unrefined form, crude oil or oil has ranges in density & from very or fairly thin, light in weight & volatile liquid to an incredibly thick, semi-stable heavy weight crude oil.There is certainly also a great gradation inside colour which the oil derived bellow sea level exhibits, ranging from a fairly, golden yellow and to its very deepest black imaginable.
For your goal of possessing a arranged, agreed upon “Terms,” the petroleum sector generally utilizes references pertaining to “Geographical Areas” so as to descriptively give crude oil classfication.
This complements undeniable fact that Crud oil from diverse geographical locations naturally have got its personal very exceptional attributes. This oil ranges from one part to another when it is pertaining to viscosity, volatility & toxicity.
The expression “viscosity” means oil resistance to flow. Larger viscosity oil is a lot more tough to pull underground/ bellow sea level, transport & refine.
The name “volatility” defines how quickly and easily the oil disappear in the air. Oil which can be naturally extremely volatile need to have additional work to be certain about temperature regulation & the sealing procedures get loose as small oil as it can.
The word “toxicity” defines how dangerously toxic the oil and its refining methods are to neighborhood life, from human beings, to flora & fauna in addition to other environmentally insubstantial existing entities & organisms. If crude oil spill arise, each and every sort of crude oil or oil presents requires special “clean up” issues, methods & priorities!
The 4 major forms of Crude oil are:
1. Pretty Light crude Oil / Light Distillates, this involve: Gasoline,Jet Fuel, Virgin Naphtha, Kerosene, Petroleum Ether, Virgin Naphtha, Petroleum Premium Spirit, & Petroleum Naphtha. This category of oil have a tendency for being extremely volatile & it can evaporate in the air just a few days or nights, which easily diffuses & decreases toxicity ranges.2. Light Crude Oil / Middle/Semi Distillates which involve the following: Most 1st and 2nd class Fuel Oils & Diesel Fuel Oil too as Most local Fuels & very Light Marine Gas or Oils. This category of oil is moderately volatile, significantly less evaporative & moderately poisonous.
3. Medium Oils: Almost all crude oil at the marketplace rcently falls onto this main category. Minimal volatility helps make for messier and additional complicated “clear ups” & when it on its improved toxicity levels, You can imagine or live extended life enough to determine what “this Medium Crude Oil” spills can do towards the community ocean lifestyle around the sea.
4. Heavy Crude Oil: This include the following, heavy crude oils, (Oil Bunker B and C) & Grade 3,4,5,6 6 Fuel Oil in addition as Intermediate & Heavy Marine Fuels. The above oils there exists very gradual and minor evaporation and thus toxicity is really highly improved. This not just implies potentially serious toxic for fish, fowl & fur creatures, but feasible “long lasting” intoxication of water & soil.
Actually, you will find really over 160 diverse oil traded on the current crude oil market recently, for simplicity’s sake, allow the discussion of the 3 primary oil that get critical attention of the masses or news & Crude oil markets.
Crude Oil Terms
West Texas Intermediate: The WTI can be really prime quality oil that can be greatly valued with the indisputable point that it truly is of this kind of premium excellent, far more & far better gasoline is often refined from one sole barrel more than from other sorts of oil available at the crude oil market place.The West Texas Intermediate “API Gravity” has 39.6C/degrees, which helps make it a sweet “light” crude oil, that has only 0.24% sulfur, which helps make it a “cool” crude oil. Expression “API Gravity” means “American Petroleum Institute, which the measure of comparing how very light /heavy an oil/crude oil really is in respect to drinking water. If any oil “API ” is higher than 10 this implies that it is really lighter than mineral water & float or flow easily on it. If any oil “American Petroleum Institute Gravity” is much less than ten, it's heavier than drinking water & will sink.
These combined characteristics likewise as location makes WTI the main oil/crude oil being refined within the U.S, which can be significantly, the biggest gasoline consuming place on our Planet. The vast bulk of WTI oil/crude oil are mostly refined in the Midwest & Gulf Coast area. Even with the production of most WTI oil decline, WTI is frequently priced from $5- $7 increased for every barrel more than “the OPEC Basket” crude oil & on an average of $1 - $2 per barrel more than “Brent Blend”crude oil.
Brent is basically a blend of distinct oils from about 15 fields all over Scottish Brent & Ninian systems found inside the North Sea. The “American Petroleum Institute Gravity” is equal to 38.3C/ degrees, which helps make it is a “light” oil or Crude oil, however, not very “light” as WTI. It contains 0.37% sulfur, that makes it “cool” oil, but once again, not as “cool” than WTI.
Brent Blend, this is exceptional for producing gasoline & Middle distillates, the two of which can be utilized in huge quantities in North western Europe, this is where Brent oil is quite frequently refined. Brent manufacturing, a lot like the one of WTI, keeps declining, nevertheless it remains the main benchmark for oil in Europe and Africa. Brent oil cost is frequently priced at $4 more for each barrel compared with OPEC price.
OPEC oil can be a collective of seven distinct crude oil from Nigeria, Algeria, Indonesia, Dubai', Venezuela, Saudi Arabia as well as the Mexican Ismathuss. The full meaning of OPEC is “Organization of Petroleum Exporting Countries” that is a corporation that was founded in the year 1960 so as to make some prevalent procedure with the manufacturing & selling of oil in its jurisdiction.
OPEC oil features a very much larger % of sulfur in its pure make-up & for that reason is just not practically as “cool” as WTI as well as Brent Blend & because it really is not as natural as “light” at the same time, the selling prices of OPEC crude oil are typically persistently lower than possibly Brent or WTI. Nevertheless, OPEC’s willingness or capacity to quickly boost manufacturing when essential can make OPEC a constant “Major Participant” from the oil sector!Thursday, September 13, 2012
FASTEST GROWING BUSINESS TO INVEST IN NIGERIA (PETROL STATIONS FOR SALE / LEASE)
FASTEST GROWING BUSINESS TO INVEST IN NIGERIA (PETROL STATIONS FOR SALE / LEASE)
***************************************************
All Interested Buyers/Investors should please Write to
MPN Global Ventures
Phone:+2347032410602,
Polish Rep:+48794207320
Dutch Rep: +31644506958
Email: mpn.global.venures@inbox.com
Head Office: 8 Oyewole street Ifako Gbagada, Lagos Nigeria.
P.O Box 9798, GPO-Marina PC:101001,Lagos Nigeria
***************************************************
The recent happenings in the petroleum market have produced a lot of dramatic twists and turns but one thing is practically assured; the business will hardly ever continue to be exactly the same once more! Because the trial of many of your defaulters is promised to be conclusively carried out, fairplay is confident to creep in, possibly slowly and gradually but surely.
A ‘cleanse’ trader hoping to get in the company can now do so with all the assurance that a comparatively a lot more levels playing discipline is expected. The downstream sector is definitely an appealing funding haven involving the offering & distribution of crude oil solutions which include the liquefied petroleum gas (L.P.G), gasoline or petrol, jet-fuel, D2 diesel oil, other fuel oils, asphalt & petroleum coke.
The different factors contain ownership of both filling stations or tank farms (or oil depots) likewise as the transportation in-in between. For all those new to the enterprise, tank farms are industrial facilities towards the storage of oil &/or petrochemical solutions and from which these products are commonly transported to conclude end users or additional storage facilities. These amenities typically have tanks, both above floor or underground, and gantries with the discharge of merchandise into street tankers or other vehicles or pipelines.
The ownership of tank farms can fall into any of the following classes:
- Single oil company ownership. When one particular company owns and operates a depot on its personal behalf.
- Joint or consortium possession, where two or additional corporations own personal a depot together and share its operating charges.
- Independent possession, wherever a depot is owned not by an oil company but by a separate organization which expenses oil companies (and other folks) a charge to retailer and deal with goods.
The locations of tank farms are essential as closeness to oil refineries or discharge points of marine tankers lessen a lot of your overhead included in extracting the merchandise for storage. Tank farms may have road tankers working from their grounds to transport products to filling stations or other people.
Most tank farms usually involve no processing on web site, therefore, demand no sophisticated tools except possibly some type of automation system. The products in the refinery are in their last form suitable for delivery to clients. In some cases additives might be injected into solutions in tanks, but there exists normally no manufacturing plant on web site.
For ease of finding started out, you can find currently created tank farms obtainable for sale made that are prepared for business. For individuals enthusiastic about constructing their very own depots, we have also listed lands for purchase which might be very suitable for this kind of development.
Operating a tank farm is like the high conclusion with the downstream petroleum company, as a result, ‘very low spending budget’ investors can glance in the direction of operating a petrol station. The interesting issue is the fact that you can find a great number of of those properties within the industry right away in quite a few different locations and several of them also can be deemed even if you usually do not hold the entire buy funds at hand.
For instance, the Conoil filling station offered by Po Apartments (Tel:08035………) around Okokomaiko for N450m offers a flexible payment plan. The 10-pump station on 5 plots with C of O and DPR Approval can be paid for over a year after an initial down-payment which will be agreed upon by the owner of the property and the buyer. This allows you to start the business without paying fully and you may be able to fund your payment gradually if business goes well.
Another option is the lease proposed by Eti & Associates (Tel:08062………) for a functional 6-pump filling station along the Lagos-Abeokuta expressway which can also be bought for N200m. The rent is N12.5m p.a. for a minimum of five years with a 10% negotiable agency agreement fee. This is an attractive offer if you intend to ‘test the waters’ before you go headlong into the petroleum business. There are other such properties available for 5-year lease between N7m and N8m p.a. by Ari….. Petroleum Nig. Ltd (Tel:08032……..).
Considering the opportunities presented, you may do well to spread your business tentacles to the petroleum industry and look to make very good returns in the highly lucrative sector.
PETROL STATIONS FOR SALE / LEASE (MAINLAND)
Company Name
Description
Price
Apapa
Filling station with 10 pumps on a 4 plots of smooth land along side Malu road, Ajegunle –Apapa
N1.7 Billion
MOBIL station, 8 pumps on 4 plots @ Marina Beach road, Apapa
N1.6 Billion
Oregun
A Petrol Station on ½ acre of land, 6 pumps and eatries, along Kudirat Abiola Way, Oregun Ikeja. With C of O.
N650 Million
Filling Station for sale along Oregun Road, Ikeja.
N550 Million
Mushin/Oshodi
6 pumps functioning Petrol Station @ Mushin-Oshodi Express Way
N600 Million
7 pumps on 3 plots on Agege Motor Road, Mushin.
N350 Million
Okokomaiko
8 pumps on 6 plots @ Okokomaiko
N600 Million
CONOIL Filling Station on 5 plots located at Km 20 Badagry Expressway, Okokomaiko, Opp. Igbo Elerin Junction, after LASU. 10 pumps, 8 pumps operational. 2 sets on Perkins Generator (30KVA Capacity each). With C of O and DPR Approval. (Flexible payment plan available)
N450 Million (Asking)
Yaba/Ikorodu Rd.
8 pumps on 3 plots @ Fadeyi – Ikorodu Road.
N450 Million
6 pump filling station at Yaba
N400 Million
MRS at Ikorodu Road, 7 pumps on 4 plots
N350 Million
Lagos-Abeokuta Expressway
8 Pump Filling Stations on 2000sqm at Ijaiye bus Stop Lagos- Abeokuta Express Way.
N300 Million
7 pumps on 6 plots @ CASO bust stop, Abeokuta Expressway.
N200 Million
6 pumps on 4 plots (Functional) on Lagos Abeokuta Expressway, by Alagbado.
N200 Million
10 pumps on 3 plots on Abeokuta Expressway
N200 Million
MRS at Lagos Abeokuta Expressway, 6pumps on 4 plots
N180 Million
Filling stations with 8 nos pumps on 4 plots of cool land along side Abeokuta
N170 Million
Dopemu/Ipaja
Filling stations with 8 pumps on 2 plots of clean land along side Ipaja, Alimosho road
N270 Million
Filling station with 8 nos pumps on a 2 plots of clean land at Dopemu.
N8 Million p.a at 5 years lease.
Sango/Ota
6 pumps of petrol station at Idiroko road around Canaan Land
N180 Million
6 pumps petrol station at Sango Otta
N100 Million
Petrol Filling Station along Ota/Idiroko Rd, Before Winners Chapel
N80 Million (Asking)
6 pumps on 2 plots at Ayetoro road, Sango. C of O and DPR approval.
N40 Million
Idimu-LASU-Iba axis
8 pump Filling Station on 1780sqm Along LASU-Idimu Road
N180 Million
4 pumps on 4 plots @ LASU-Iba road
N130 Million
A filling station with 6 nos pumps on 2plots of land at Idimu Ejigbo road.
N85 Million
Filling station with 6 nos pumps on a 2 plots of land at Idimu
N7 Million per annum for 5 years lease
Lagos-Ibadan Expressway
6 nos pumps filling station by OPIC, along Lagos Ibadan expressway.
N130 Million
Okota
Filling station with 8 nos pumps on a 4 plots of land at Okota.
N8 Million at 5 years lease.
PETROL STATION FOR SALE / LEASE (ISLAND)
Company Name
Description
Price
TOTAL: 8 pumps on 1 acre @ Awolowo Road, Ikoyi
N1.2 Billion
6 pump filling on Lekki Epe expressway
N370 Milion-N500 Million
Filling Station on 2plots @ Ajah, 8pumps, 6pumps, 2 in 1 for Petrol, 1 pump for Kerosene and 1 for Diesel with C of O and all other documents.
N320 Million
Filling Station for sale in Lekki Area
N75 Million
TANK FARM FOR SALE / LEASE
Company Name
Description
Price
37,000 Metric T. tank farm on 2.5 acres @ Creek Rd, Apapa
N40 Billion
9 tank farm of 55,000MT on 2.5acres @ Dockyard, Apapa.
N35 Billion
Tank farm + Jetty, 40,000 MT + office block on 2.5 acres @ Greek Rd, Apapa.
N30 Billion
LAND FOR TANK FARMS
Company Name
Description
Price
17 acres water front, suitable for Tank Farm @ Ijegun Satellite town.
N1.5 Billion
A 1.2 hectares of land with approval for a tank farm at Apapa
N1.2 Billion
Water front parcel of land, size; 2574.815 square meters suitable for tank farm or Jetty @ Kirikiri Apapa.
N600 Million (Negotiable)
Thursday, August 16, 2012
How you can Scrutinize Nigerian Suppliers of Crude Oil
Scrutinizing Nigerian Suppliers of Crude Oil(BLCO)
Company associated to sale made and invest in of crude oil is flourishing all approximately the planet. As lengthy we have thousands and thousands and millions of automobiles operating within our cities, need of crude oil will at all times be around the rise.
As oil is really a non-renewable form of natural useful resource, its production is concentrated in couple of geographical regions around the planet. Most of the oil reservoirs may very well be located around middle-east and central African regions.
Crude Oil Reserves (BLCO)
Having large oil reserves is actually a major enhancement for economies of oil producing countries and therefore most of the commercial activities in these international locations are concentrated around crude oil. Nigeria is one this kind of oil prosperous nation the place oil proves to be major source of income for it.
As world wide web has grown to be a everyone's major source of locating buyers or sellers for the solution, crude oil is no exception here. Many people around the world make utilization of unique B2B websites to search for appropriate buyers or sellers. Even though visiting any of these kinds of websites you'll have noticed that a majority of offers to market oil and related products are posted from Nigeria. We need to be really careful in scrutinising these offers as all of them might not be true and correct. A lot of of those offers are fake and posted with intention to con potential buyers.
Nigerian National Petroleum Corporation (NNPC) could be the official governmental establishment that allocates oil to commercial firms. Whilst coping with a brand new business make contact with in Nigeria who claims to have an allocation from NNPC should be verified upon. NNPC has offices within Nigeria (Bonu, Lagos & Abuja) and overseas (London) which may be approached in order to verify allocation claims. The organizations who have allocations from NNPC would be the only real sellers and any person else who claims that they could source from other sources can be trying to have lucky with you. Beware and do your due diligence prior to committing yourself into any this kind of offer.
If at any time a seller asks you for cash on some silly pretext, it is best to get alarmed concerning the sincerity of the other occasion concerned. They may pretend to become somebody who they basically aren't. Only progress and transfer dollars a person you have verifiable "Proof of Solution" with you from your provider. Hope you will come across above particulars helpful and effective.
Our reputable company is very reliable, specialized, recognized and superior in the area of linking and introducing together, the two parties [supplier/seller and buyer] in the transactions of the Bonny Light Crude Oil BLCO), FORCADOS (FLCO) Light Crude oil. We dedicated our self in order to show case internationally and to provide high professional services between the two parties both within and outside of Nigeria and we are expanding every year, this expansion has given us rear opportunities,capabilities, and abilities on our good services and recommendations.
Marketers Of Crude Oil (BLCO)
Therefore, the marketers/suppliers that we network within the procurement of Bonny Light Crude Oil (BLCO), FORCADOS (FLCO) Light Crude Oil are licensed indigenous firm based in Nigeria, with operations offices are in Port
Harcourt, Lagos and Abuja.
These sellers/suppliers are licensed by the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources (DPR) to broker and facilitate the procurement of Nigerian Bonny Light Crude Oil (BLCO) for prospective and would-be buyers who have the capacity to fulfill the requirements to undertake such a transaction.
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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.