Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 489.80
Bid: 489.75
Ask: 489.90
Change: 1.65 (0.34%)
Spread: 0.15 (0.031%)
Open: 491.60
High: 494.35
Low: 489.70
Prev. Close: 488.15
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

U.S. oil shipments sailing for Australia highlight growing reach

Fri, 26th Apr 2019 05:03

* Tanker to arrive at Kwinana on May 20 - data

* Second tanker to depart this week - source, data

* Four Aframaxes head to Asia in two months

By Florence Tan and Devika Krishna Kumar

SINGAPORE/NEW YORK, April 26 (Reuters) - Two cargoes of U.S.crude oil have been booked to sail to Australia, trade sourcesand data companies said, highlighting the increasing globalreach of exports from the United States.

Aframax tanker Esther Spirit loaded U.S. oil in early Aprilat Enterprise Houston Terminal and is scheduled to discharge atKwinana in Western Australia on May 20, ship-tracking data fromRefinitiv and Vortexa showed.

BP Plc chartered the Silver Sun, an Aframax, to loadfrom the U.S. Gulf Coast this week to Kwinana for $2.35 million,according to a shipbroker and Refinitiv data. BP operates arefinery at Kwinana producing fuels for Western Australia.

Crude exports from the United States tend to be so-calledlight grades that yield large amounts of gasoline and dieselwhen refined, and are classified as low-sulphur, or sweet.

"Australia's aging refineries were designed to run regionalcrude that is typically light and sweet. U.S. crude is a goodsubstitute for typical Australian refinery feedstock," Refinitivanalyst Mark Tay said.

BP said it does not comment on day-to-day sales and tradingoperations.

That will be the fourth Aframax tanker in two months that isheading to Asia directly from the United States. This is anunusual move as the costs of shipping oil in an Aframax, whichcan carry about 600,000 barrels of oil, are higher than movingoil on Suezmax tankers or Very Large Crude Carriers (VLCC) thatcan carry more than 1 million barrels.

Esther Spirit could be the first ever tanker to saildirectly from the United States to Australia, said aSingapore-based trader who tracks this oil flow closely. FromHouston to Kwinana is a distance of 11,250 nautical miles(20,800 km).

Freight rates for Aframaxes have come off while the directshipment eliminates the need to do any ship-to-ship transfers inAsia, two trade sources said.

BP has been importing U.S. crude to Kwinana since late 2016.The oil major would usually transfer some U.S. oil from asupertanker to a smaller vessel before sending it to Kwinana,they added.

U.S. crude exports have surged to records since Washingtonlifted a ban in late 2015. U.S. crude arrivals in Asia in Mayare expected to rise to a record 38.1 million barrels, about 1.2million barrels per day, according to Refinitiv Eikon data.

Two more Aframax tankers are on their way to Vietnam andIndonesia as the southeast Asian buyers import their first U.S.oil cargoes, Refinitiv data showed.

The Almi Horizon, carrying about 340,000 barrels of U.S.oil, will arrive at the refinery in Dung Quat, Vietnam, at theend of April while Indonesia will receive its first U.S. oilcargo in June.

(Reporting by Florence Tan in SINGAPORE and Devika KrishnaKumar in NEW YORK; editing by Christian Schmollinger)

More News
19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

*

Read more
19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

Read more
19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

Read more
19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

Read more
19 Dec 2023 13:18

UK warns of deteriorating security in Red Sea, Royal Navy ship joins taskforce

LONDON, Dec 19 (Reuters) - Britain warned that the security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region.

Read more
19 Dec 2023 11:49

LONDON MARKET MIDDAY: FTSE 100 flat; Eurozone inflation cools to 2.4%

(Alliance News) - Stock prices in London were mixed at midday Tuesday, despite news that the eurozone's inflation is edging closer to its 2% target.

Read more
19 Dec 2023 08:47

LONDON MARKET OPEN: Stocks rise as investors pin hopes on US rate cuts

(Alliance News) - Stock prices in London opened higher on Tuesday, with sentiment still buoyed by expectations of rate cuts in the US.

Read more
18 Dec 2023 18:18

Red Sea attacks force rerouting of vessels, disrupting supply chains

Houthis launched series of attacks, latest on Monday

*

Read more
18 Dec 2023 17:40

Europe Gasoline/Naphtha-Margins slip as Red Sea attacks push oil higher

LONDON, Dec 18 (Reuters) - Northwest European gasoline refining slipped by about $1 to $8.6 a barrel as underlying crude prices rose 3% on mounting attacks on ships in the Red Sea.

Trades   Bids     Offers   Prev.    Sellers  Buyers
(vol.) Trades
Ebob $727.50
Barges
MOC
Platts E5
(fob ARA)
<EUROBOB-
ARA>
Ebob $728
Barges
E10
Platts(fo
b ARA)
Ebob $735.50 Varo, Trafigu
Barges (4KT) Glencor ra
Argus e
E5(fob
AR)
Ebob $727 Shell, Varo,
Barges 11KT Exxon Totsa
E10 Argus
(fob AR)
Jan. swap $741.25 $725.25
fob ARA
Premium
Unleaded
(fob ARA)
<PU-10PP-
ARA>
Cargoes
(fob MED)
Cargoes
(cif NWE)
Naphtha Jan
(cif NWE) +$14
<NAF-C-NW
E>

Ebob crack (per barrel) $8.6 Prev. $9.7
Brent futures
Rbob
Rbob crack <RBc1-CLc1>
(Reporting by Ahmad Ghaddar; Editing by Mark Porter)

Read more
18 Dec 2023 16:55

LONDON MARKET CLOSE: FTSE 100 outperforms European peers

(Alliance News) - Stock prices in London closed higher on Monday, after investors shrugged off hawkish comments from US Federal Reserve officials amid festive cheer.

Read more
18 Dec 2023 12:52

Red Sea attacks force rerouting of vessels, disrupting supply chains

DUBAI, Dec 18 (Reuters) - Mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea are disrupting maritime trade as leading global freight firms reroute around the Cape of Good Hope to avoid the Suez canal.

Read more
18 Dec 2023 11:50

BP becomes latest to pause Red Sea shipments as attacks continue

(Sharecast News) - BP has announced that it is halting all oil shipments through the Red Sea, becoming the latest company to pause regional routes after a series of targeted attacks by Yemen's Houthi rebels.

Read more
14 Dec 2023 07:43

LONDON BRIEFING: Eyes on BoE and ECB; US Fed signals 2024 rate cuts

(Alliance News) - Stocks are called to open higher on Thursday, after the US Federal Reserve chose not to surprise markets with its latest interest rate decision.

Read more
13 Dec 2023 23:16

Newcomer Elysian, Petrobras notch big wins in Brazil oil auction

RIO DE JANEIRO, Dec 13 (Reuters) - Oil companies including Elysian along with veterans Petrobras and Chevron snapped up the most blocks up for grabs in Brazil's latest offshore oil auction marked by climate protests, as the South American nation looks to replenish reserves with new discoveries.

Read more
13 Dec 2023 19:00

BP Energy wins oil auction for Brazil's Tupinamba block

RIO DE JANEIRO, Dec 13 (Reuters) - BP Energy on Wednesday won the auction for oil and gas production rights of the offshore block of Tupinamba in Brazil's Santos Basin.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.