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Tag Archives: unipec

Homeless Atlantic oil cargoes deepen global glut

LONDON – A shadowy build up of oil has intensified in the Atlantic Basin with homeless cargoes of crude turning into unintentional floating storage – another sign the global surplus has some way to go before clearing. Off the coast of West Africa and in the waters of the North Sea, vessels holding millions of barrels of oil have become, ...

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China boosts oil trading visibility, market power: Russell

(Clyde Russell is a Reuters columnist. The views expressed are his own.) SINGAPORE – If you are looking for evidence that China is becoming more assertive in the global economy, then the trading of physical crude oil in Asia is a good example. Chinaoil, the trading arm of state-controlled giant PetroChina, bought a record 55 cargoes in the Middle East ...

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