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A Chinese-owned copper mine in Ecuador, Mina Mirador, has temporarily limited its operations as a precautionary measure to protect workers amid unrest over the government's austerity plan, the company said on Saturday. The mine, owned by Ecuacorriente, a unit of the Chinese consortium CRCC-Tongguan, started operations in July and has said it expected to produce [Read more]

Source: BOE Report

Iran is prepared to hold talks with regional rival Saudi Arabia, with or without the help of a mediator, the Iranian Foreign Ministry said on Saturday, ahead of a visit by Pakistani Prime Minister Imran Khan. Asked about reports that Khan, due to arrive in Iran at the weekend, may try to mediate between Tehran [Read more]

Source: BOE Report

Saudi Arabia said it received a distress message on Friday from a damaged Iranian tanker in the Red Sea but the vessel kept moving and switched off its transponder before it could provide assistance, state news agency SPA reported on Saturday. SPA said the Sabiti tanker did not respond to many communications from the Saudi [Read more]

Source: BOE Report

An Iranian government spokesman on Saturday called the apparent targeting of an Iranian oil tanker by missiles a "cowardly attack" and said Iran would respond after the facts had been studied. "Iran is avoiding haste, carefully examining what has happened and probing facts. An appropriate response will be given to the designers of this cowardly [Read more]

Source: BOE Report

Leakage of cargo from an Iranian-owned oil tanker apparently hit by missiles in Red Sea waters off Saudi Arabia has been stopped as it heads for the Gulf, the semi-official Iranian news agency Mehr reported on Saturday. The tanker Sabiti was targeted on Friday, Iranian media reported earlier, an incident that if confirmed will stoke [Read more]

Source: BOE Report

Essentially All Customers Restored in Alameda, Colusa, Contra Costa, Glenn, Humboldt, Marin, Mariposa, Merced, Siskiyou, Solano, Stanislaus, Trinity and Yolo Counties 99 Percent of Customers in the Bay Area Are Now Restored SAN FRANCISCO–(BUSINESS WIRE)–Pacific Gas and Electric Company reported Friday evening that 97 percent of customers impacted by Public Safety Power Shutoff (PSPS) have [Read more]

Source: BOE Report

One of the world’s largest independent oil traders, Gunvor Group, plans to revamp its refinery in Rotterdam to adapt it to produce low-sulfur fuel oil that would be compliant with the new regulations on shipping fuel, Gunvor’s chief executive Torbjörn Törnqvist told Reuters.  Gunvor plans to reconfigure its 88,000 barrels per day refinery in Rotterdam, in the Netherlands, in ...

Source: Oilprice.com

The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Friday to round off a week of volatile trading: * Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $16.35 per barrel below WTI, according to Net Energy Exchange. On Thursday November WCS [Read more]

Source: BOE Report