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Strait of Hormuz: the world's most important oil artery

By Reuters Staff
3 Min Read
(Reuters) - Iran’s Revolutionary Guards Corps seized a South Korean-flagged tanker in Gulf waters and detained its crew, Iranian media said on Monday, amid tensions between Tehran and Seoul over Iranian funds frozen in South Korean banks due to U.S. sanctions.
A South Korean-flagged tanker vessel which was seized by Iran. is seen in Gulf, Iran January 4, 2021. IRGC / WANA (West Asia News Agency) via REUTERS
Below are details about the Strait:
WHAT IS THE STRAIT OF HORMUZ?
- The strait lies between Oman and Iran
- It links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond ....

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Nigerian programmes emerging

1 Min Read
LONDON (Reuters) - More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February.
NIGERIA
Bonny Light is loading six cargoes in March, while Forcados is loading seven full cargoes and two partial shipments, traders said.
Even so, March supply of four main grades is set to be lower than in February.
Differentials have been coming down this week due to ample supply as Qua Iboe exports resume. February-loading Escravos was being offered at dated Brent plus 40 cents a barrel on Wednesday, down from plus 80 cents the previous day. ....

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RPT-UPDATE 1-Buyers of U.S. LNG expected to cancel up to five cargoes for March -traders

Buyers of liquefied natural gas (LNG) from the United States are expected to cancel up to five cargoes for loading in March, half the volumes that were cancelled in February, trade sources said on Thursday. ....

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Exclusive-Nigeria's NNPC seeks $1 billion oil prepay to revamp Port Harcourt refinery

Nigeria's state oil firm NNPC is in talks to raise around $1 billion in a prepayment with trading firms to refurbish its largest refining complex at Port Harcourt, seven sources familiar with the discussions said. ....

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Saudi Aramco cuts February crude supply to some Asian refiners - sources

Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday. ....

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