Indian Diesel Cargoes to Australia in Rare Move
India-Australia vessels booked despite higher freight costs; Chevron moving 1-2 cargoes a month to Australia. Indian diesel cargoes are being shipped to Australia in a rare move as rising competition from new Middle East refineries has made it more difficult to land the fuel in India's core traditional markets in Europe and Africa. Diesel is typically shipped to Australia from North Asia or Singapore as freight rates for the India-Australia route can cost as much as 50 percent more, traders and shipbrokers said. Yet several vessels have been chartered on the higher-priced route since late last year, the traders and brokers said. Chevron…
Enterprise Contracts to Boost U.S. Crude Exports
Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40-year-old U.S. ban on crude exports and the Department of Commerce broke its year-long silence in December and began approving a backlog of requests to sell processed light oil abroad. Enterprise is selling 40,000 barrels per day (bpd) under the contracts, which should give it a headstart before other firms get the nod to export condensate produced from shale operations.
Saudis Keep June Crude Supply Steady To 1 Asia Buyer
Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil to at least one Asian term buyer in June, unchanged from May, an industry source familiar with the matter said on Friday. The OPEC kingpin has supplied full contractual volumes to most Asian buyers since late 2009. (Reporting by James Topham; Editing by Paul Tait)
