Commodities – Daily News

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Top 5 things to know in markets Today:


  1. North Korea fires missile over Japan
  2. Global stocks sinking as a result of North Korea actions
  3. Investors pile into safe-heavens
  4. Euro rises above 1,20$ for the first time since 2015 !
  5. Energy markets continuing to process Harvey hurricane consequences

Zawiya oil refinery in Libya: Not operating in full capacity

Zawiya Oil refinery is the biggest plant operating in Libya. It usually gives the outputs of 120,000 barrels per day. Starting with this week, the trend changed. It was working half capacity. At only 60,000 bpd. Influenced by the Sharara oilfield shutdown.

Sharara Oilfield had a period of its equipment close down. Due to pipeline blockade, it was not able to transfer crude to Zawiya.

This shutdown in Shahara came as a result of August 10-25th period. It is when crude distillation towers were closed .Sharara has been shut down for around a week due to military block of a pipeline linking it to the Zawiya oil terminal.

Sharara’s half capacity outputs, and its shut down led to NOC subsidiary Agoco to also shut down the 10,000 barrels per day in Hamada oil plant.

Hamada shares export infrastructure with Sharara.


Glencore Rolleston mine blocked amid corporate deals

Yesterday, Glencore announced it was looking to sell a second Australian coal mine.

“Part of the Swiss-based resource giant’s rethink on how it deploys capital as its reins in debt and commodities prices rise.”


Glencore, with its Japanese joint venture partners, Itochu Corp and Sumitomo Corp would start a “sales process” for its Rolleston mine. The mine produces thermal coal used in electricity market. 

Interesting thing is that Rolleston is geographically removed from Glencore’s main collieries. Which makes it less economic from a shipping standpoint.

Glencore corp. owns 75 percent of the Rolleston mine. Its Japanese partners each, are holding 12.5 percent. Both minority partners said they also intend to sell their interest.


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