U.S. sanctions UAE shipping firm for violating Russian crude oil price cap
WASHINGTON (Reuters) – The U.S. Treasury on Thursday said it imposed sanctions on a United Arab Emirates-based shipping company for violating the $60-per-barrel price cap on Russian crude oil exports in its…
Factbox-Who is buying Russian crude oil and who has stopped
(Reuters) – Here is the response by countries regarding purchases of Russian oil following Moscow’s invasion of Ukraine on Feb. 24, and how companies have acted. COUNTRIES’ RESPONSES Australia, Britain, Canada and…
Rosneft issues June ESPO crude tender, requests for rouble payment
SINGAPORE – Russia’s top producer Rosneft <ROSN.MM> has issued a tender to sell June-loading ESPO Blend crude, in another attempt to get buyers to pay for supplies in full upfront and in…
China imports 13% less crude oil from Saudi in March, 14% less from Russia -customs
By Chen Aizhu and Muyu Xu (Reuters) – Saudi Arabia exported nearly 13% less oil to China in March than a year earlier but retained its top supplier spot, while shipments from…
Saudi Feb crude exports hit near two-year high – JODI
(Reuters) – Saudi Arabia’s crude exports in February rose to 7.307 million barrels per day (bpd), the highest level since April 2020, official data showed on Monday. Crude oil exports in February…
U.S. crude stocks surge on strategic reserve release
By David Gaffen (Reuters) – U.S. crude stocks surged by more than 9 million barrels, in part due to releases from the nation’s strategic reserves, while gasoline and distillate inventories fell last…
Saudi Arabia may raise May crude prices to Asia to new record levels
(Corrects to insert dropped word in 3rd paragraph) By Florence Tan SINGAPORE – Top oil exporter Saudi Arabia is expected to raise crude prices to Asia in May to new highs, tracking…
Saudi Arabia is China’s top crude supplier again as Russian oil falls 9%
BEIJING – Saudi Arabia regained the spot as China’s top crude supplier in the first two months of 2022, having been leapfrogged by Russia in December, while Russian shipments dropped 9% as…
Factbox-Countries and companies shun Russian crude over Ukraine invasion
– Russian gas flows to Europe remain stable, but Western sanctions over Moscow’s invasion of Ukraine and voluntary actions by buyers are starting to impact its crude oil and oil product sales.…
Factbox-Countries and companies shun Russian crude over Ukraine invasion
– Russian gas flows to Europe remain stable, but Western sanctions over Moscow’s invasion of Ukraine and voluntary actions by buyers are starting to impact its oil sales. Some European buyers appear…
Exclusive-Hellenic clinches initial deal to ramp up crude oil supplies from Saudi Arabia
ATHENS – Hellenic Petroleum, Greece’s biggest oil refiner, has clinched an initial deal to get additional crude oil supplies from Saudi Arabia, two sources from the refiner said on Tuesday. “There has…
India’s top refiner IOC buys 3 million bbls Russian Urals crude via tender -sources
By Nidhi Verma NEW DELHI – Indian Oil Corp, the country’s top refiner, bought 3 million barrels of Russian Urals from trader Vitol for May delivery, trade sources said, its first purchase…
Australian refiners cease purchase of Russian crude oil, voice support for Ukraine
– Australian refiner Viva Energy said on Tuesday it would stop buying Russian crude oil, joining a growing number of companies to sever trade ties with the country over its invasion of…
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict,…
Biden, Allies Again Tap Emergency Crude Oil Stockpiles Amid Ukraine Crisis
President Joe Biden will join other Western nations in releasing a total of 60 million barrels of crude oil amid the Ukraine crisis, the coalition announced Tuesday. Overall, 31 member nations of…
Jen Psaki Says US Needs To ‘Move Away’ From Crude Oil Altogether Amid Ukraine Crisis
The White House has pushed the so-called green transition in the wake of the Ukraine crisis, arguing it proves global oil market dependence is unstable. President Joe Biden believes that Russia’s invasion…
EOG Resources posts higher profit as crude prices scale multi-year highs
– U.S. shale oil firm EOG Resources Inc on Thursday reported a jump in fourth-quarter profit as crude prices soared to multi-year highs following a rebound in demand as the pandemic ebbs.…
Occidental Petroleum posts profit on soaring crude prices
– U.S. shale producer Occidental Petroleum Corp on Thursday reported a fourth-quarter profit compared with a year-ago loss, as a recovery in demand has driven crude prices to multi-year highs from pandemic-driven…
Chesapeake Energy reports higher profit on soaring crude prices
– Shale oil and gas producer Chesapeake Energy Corp said on Wednesday its quarterly adjusted profit rose 14.5% in the fourth quarter from the third, helped by a surge in energy prices…
Tight supplies lift Mideast and Russian crude grades to multi-year highs
By Florence Tan SINGAPORE -Middle East benchmark Dubai crude soared to a record this week while spot premiums for April-loading Russian oil jumped to their highest in more than two years in…
Malaysia keeps March crude palm oil export duty at 8%
KUALA LUMPUR – Malaysia has maintained its March export tax for crude palm oil at 8% and raised its reference price, a document on the Malaysian Palm Oil Board website showed on…
Dozens Of Republicans Slam Biden Administration For Considering Crude Oil Export Ban
A large group of House Republicans penned a letter to top Biden administration officials Friday, urging them not to ban U.S. crude oil exports. The GOP lawmakers, led by Texas Reps. Roger…
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