In July, Russia's oil revenues increased by 60% year-on-year
Calculations showed that the rise in oil prices globally has led to a '60% increase in the state revenue of Russia in July compared to the same period a year earlier. The overall revenue increase of?year-on-year was also attributed…
Biodiesel is a popular alternative fuel in Indonesia due to rising oil prices
Indonesian motorists are upgrading their vehicles to run on biodiesel, which is subsidised by Jakarta. This is due to the high price of oil globally and the increasing palm oil content of the fuel. Jakarta wants to reduce Indonesia's dependence on imported energy.
OPEC Maintains Robust Oil Growth Forecast Over Next Four Years
OPEC maintained its forecast for robust global oil demand growth in the next four years on Thursday and nudged up its longer-term view, citing a worldwide shift towards more supportive policies for oil use and saying there was…
OPEC maintains robust outlook for oil demand, but does not see a peak until 2050
* U.S. shale production likely peaked by 2025, according to the report (Source changed on OPEC website paragraph 3). LONDON, 18 JUNE - OPEC has maintained its forecast of robust growth in global 'oil demand' over the next four years and has shifted its long-term?view.
OPEC maintains robust outlook for oil demand, but does not see a peak until 2050
* Says shale production likely peaked around 2025, but that the U.S. LONDON, JUNE '18 - OPEC affirmed its forecast of robust growth in global oil demand over the next four years and boosted its long-term view. Citing a worldwide…
Russell Russell: China's major imports show that price is still the main driver of prices for commodities imported from China.
China's trade in commodities in May showed that price movements are the main driver of changes in flows. Crude oil imports have fallen to a record low of 7.79 million barrels a day (bpd) - the lowest in eight years. The fallout…
Russell Russell: China's major imports show that price is still the main driver of prices for commodities imported from China.
China's May trade in commodities highlighted that price movements are the primary drivers of changes in flows. The most eye-catching number from the Monday customs data is the fall in crude oil imports, which has fallen to an 8-year low of only 7.79 million barrels a day (bpd).
Data shows that Russia's oil-and-gas revenue rose 32% year/year to $9.26 Billion in May.
The Finance Ministry reported on Wednesday that the oil price rally in the Middle East fueled a 32.4% increase in Russia's tax revenues from oil and gas. The revenue fell by 20.7% in April, when the budget received additional payments for profit-based taxes…
Saudi Arabia will burn more oil to generate electricity this summer, as gas production falls
Analysts say that Saudi Arabia will burn more fuel oil imported for power generation in the summer due to a lack of natural gas from oilfields which have been closed?after Iran war curtailed its?oil?exports. Fuel oil consumption…
JODI reports that Saudi Arabian crude exports in March fell to their lowest ever recorded levels.
Saudi Arabian crude oil exports fell to a new record low in March of?4.974 millions barrels per?day, according to data from?Joint Organizations Data Initiatives (JODI),?data released on Wednesday. The JODI data revealed that…
Diamondback Bets on Wider WTI-Brent Gap amid US Export Ban Concerns
Diamondback Energy, a U.S. oil producer, bought options in order to sell the difference between U.S. West Texas Intermediate crude and Brent crude, traded globally, at around minus 42 dollars a barrel, over the next few months.
Crude Oil Loadings Continue at Yanbu Port Despite Pipeline Attack
Crude loadings at Saudi Arabia's Red Sea port of Yanbu have continued despite an Iranian attack on Wednesday on the country's East-West Pipeline, sources at two buyers from the port and a third trading source told Reuters on…
Russia says Middle East conflict disruption creates new trade opportunities
The war in the Middle East has caused global supply disruptions, which have created new trade opportunities for Russia. However, price stability on the domestic market is still a top priority, said Russian Prime Minister Mikhail Mishustin.
Association says Indonesian biodiesel demand will reach 15 million metric tonnes at the launch of B50
The Indonesian palm oil association said on Wednesday that the demand for biodiesel was expected to be 15 million metric tons this year. This is an increase of 2 mts from last year. B50, a biodiesel blend of 50% palm-oil-based biodiesel with 50% conventional diesel…
Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel…
Saudi Red Sea Oil Exports in March Rise to 3.8 Million bpd
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 million barrels per day (bpd) in March, shipping data showed on Wednesday, after the U.S.-Israeli war on Iran effectively shut exports via the Strait of Hormuz.The kingdom…
Aramco requests dual loading nominations from buyers amid the Hormuz Crisis, sources claim
Multiple sources have confirmed that Saudi 'Aramco asked buyers to provide a crude loading plan for its main 'export terminal in Ras Tanura and Yanbu at the Red Sea for shipments scheduled for April, as the U.S. Iran conflict has disrupted exports out of the Middle East. The U.S.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and the attacks of Iran on Gulf neighbours has caused oil and natural gas production to stop in the Middle East. The Strait of Hormuz is the world's most important oil artery. It handles 20 percent of the global oil and LNG supplies.
Aramco warns of 'catastrophic' consequences for oil in the Strait of Hormuz if shipping is not resumed
Saudi Arabia's Aramco, the world's largest oil exporter, said on Tuesday there would be "catastrophic" consequences for the oil markets of the world if the Iran War continues to disrupt shipping through the Strait of Hormuz.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped. Sources say that Saudi Aramco, the world's largest oil producer, cut its output Monday.