U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet...
LONDON - U.S. sanctions imposed last month on subsidiaries of vast Chinese shipping fleet Cosco have given an unexpected boost to European refiners as less crude oil from the North Sea and West Africa heads east, traders and analysts said.
Complex refining margins for advanced facilities capable of extracting even more valuable products like diesel and gasoline, have been especially strong in Europe, industry sources said. Smaller tankers such as the Aframax, used more commonly within the Atlantic basin, offer a relatively better deal. Spanish energy company Cepsa CPF.GQ snapped up at least four cargoes of light sweet Nigerian oil last week, traders said.
Refineries like Britain’s Grangemouth plant, which receive their crude via pipeline from the North Sea, are best placed to profit as they can bypass shipping altogether.European gasoline margins would normally ease at the end of the U.S. summer driving season as exports dip. But attacks last month on two major oil facilities in Saudi Arabia led to a surge in exports from Europe to the Mideast Gulf, helping keep margins unseasonably buoyant..
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
India cannot sacrifice economic strength to comply with U.S. sanctions: Finance MinisterIndia wants to comply with global sanctions, including U.S. sanctions on Venezue...
Leer más »
Ohio farmer says he won't vote for Trump, as his name is not Judas: 'I'm not going to sell my political moorings for 30 pieces of silver'Chris Gibbs says he did not take the president's word on partial trade deal with China, which Trump says would give $50 billion boost to U.S. farmers.
Leer más »
France urges EU tax on airplane and ship fuelFrance wants the European Union to work on creating a tax on airplane and ship f...
Leer más »
North Korea's Kim Jong Un visits sacred peak on horseback, vows to fight U.S. sanctionsNorth Korean leader Kim Jong Un vowed to surmount U.S.-led sanctions on his country
Leer más »
Brexit deal at hand in Brussels, Johnson struggles to win support at homeBritain and the European Union were on the verge of a last-minute Brexit deal on...
Leer más »
Factbox: How are businesses preparing for a 'no-deal Brexit'?Leaving the European Union without a deal at the end of this month will force bu...
Leer más »