Main Oil Terminals News

Libya's National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a first tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown would keep output low."The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17," NOC said in a statement.A first cargo of 650,000 barrels will be shipped by the Kriti Bastion Aframax tanker, chartered by Vitol, which two sources at Es Sider port said had docked and started loading on Friday morning.The blockade…

Activity in the Russian Urals crude market froze on Tuesday as traders said they were awaiting the first loading dates for May for signs of how much supplies from the world's top oil producer could fall next month. Traders said they anticipated lower exports from Russia in May as several major domestic refineries were set to end their maintenance works. The Urals swaps market showed expectations for prices to strengthen in May to around dated Brent minus $1 per barrel, some 30-40 cents stronger than current price estimates. Traders also spoke about a physical deal being done in the Baltic on Tuesday for a cargo of Urals at dated Brent minus $1.30 a barrel, a notch stronger than prices on Monday, but that could not be verified.

North Sea Forties crude differentials firmed on Tuesday as traders eyed two potential VLCC shipments to Asia, though gains were capped as the first cargo of Libyan crude was set to load since a deal with rebels to reopen ports. Traders have been watching the progress of two VLCCs - the BW Utah and the Phoenix Vanguard, both of which have been in the frame for arbitrage shipments of Forties to South Korea. The BW Utah left Hound Point on Monday bound for Rotterdam, according to traders and ship tracking data.