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Nigeria data -- 2015 oil revenue seen down $10 bil on price fall: industry
Nigeria's oil revenues may fall by $10 billion this year if world prices remain at the current average of $53/barrel, foreign oil companies operating there have said, further compounding funding...Read More »
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US regulators announce stricter tank car standards, ease up on retrofit schedule
US rail regulators on Friday announced new stringent specifications for
tank cars carrying crude oil, ethanol and other flammable liquids, but gave
owners more time to retrofit their fleets than previously proposed, mitigating
some of the potential costs that could impact crude-by-rail shipments.
Jet fuel specification change sparks complications for European traders
Effective Saturday, DEFSTAN 91-91 -- a rigorous and widely accepted
specification standard for aviation fuel issued by the UK's Ministry of
Defense -- will increase the allowable FAME (Fatty Acid Methyl Ester) biofuel
content to 50 parts per million under Issue 7 Amendment 3, a change that has
already had serious implications for European jet market participants.
EBOB gasoline backwardation at 4-week high on refinery maintenance
The backwardation between front-month and second-month Northwest European
gasoline swaps reached a four-week high Thursday, with the prompt section of
the curve boosted by expectations of a tighter supply balance on the back of
regional refinery maintenance in May, as well as by bullish sentiment in the
US NYMEX RBOB gasoline futures.