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07.08.26 - 13:30
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Indian Refiners Continue West Africa Crude Buying Spree (ZeroHedge)
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Indian Refiners Continue West Africa Crude Buying Spree
By Tsvetana Paraskova of OilPrice.com
India's state-run refiners continue their buying spree of crude from West Africa as the Middle East crisis has sapped supply and made deliveries uncertain.
In one of the latest purchases via a tender, India's state-owned refiner Hindustan Petroleum Corporation Limited (HPCL) has acquired 2 million barrels of Nigerian crude oil from Shell, trade sources told Reuters on Thursday.
HPCL has bought 1 million barrels each of Nigerian crude grades Forcados and Bonga for its Visakh refinery in the state of Andhra Pradesh on the east coast of southern India. The refinery has the capacity to process 300,000 barrels per day (bpd) of crude.
Earlier this week, reports emerged that HPCL acquired 2 million barrels of Okwuibome and Utapate crudes from Nigeria from commodity trader Glencore via a tender.
The Nigerian crude from Glencore will go to feed HPCL's refinery in the state of Rajasthan, HPCL Rajasthan Refin...
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24.07.26 - 20:18
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Oil Tanker Makes Red Sea U-Turn After Houthi Threats, Reroutes Around Africa In Costly Transit (ZeroHedge)
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Oil Tanker Makes Red Sea U-Turn After Houthi Threats, Reroutes Around Africa In Costly Transit
ING's Singapore-based head of commodities, Warren Patterson, was asked during a recent webinar what it would take for Brent crude to exceed $120 a barrel. His answer was "not much," warning that prices could soar well into triple-digit territory if the Strait of Hormuz remains blocked through August and threats to Red Sea shipping intensify.
Patterson's warning about disruptions at the Strait of Hormuz and the Bab el-Mandeb Strait echoes concerns voiced across commodity desks this week: the longer these critical chokepoints remain impaired, the greater the upside risk to Brent, WTI, and fuel prices at the pump.
Fresh Houthi announcement, which muddles the waters a bit.
Paraphrasing: No closure of the Bab el-Mandeb strait; blockade only targets "the Saudi side," but that leaves unclear whether it includes (or not) foreign vessels lifting Saudi crude (or only Saudi oil tankers). ...
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22.07.26 - 15:54
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Revolving and Expandable Credit Facility (GlobeNewswire EN)
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SINGAPORE, July 22, 2026 (GLOBE NEWSWIRE) -- Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) ("Valeura" or the "Company") has entered into a revolving and expandable credit facility (the "Facility") with a syndicate of leading international banks and a global commodities trading house. The mandated lead arrangers of the Facility are ICBC Standard Bank Plc, Macquarie Bank Limited (also acting as technical and modelling Bank), Trafigura Pte Ltd, and UOB. ...
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