Vietnam's crude and refined oil supplies amid Iran war
After the Iran War, Vietnam has diversified its oil and refined products supplies. Import costs have risen exponentially, causing a high level of inflation and a trade deficit in the nation that is heavily dependent on exports. Vietnam imports oil to run its refineries.
Japan will send officials to Russia to protect companies' assets in May
The Minister of Economy, Trade and Industry Ryosei Akazawa said on Tuesday that Japan will send a number of officials to Russia in late May to help facilitate communication and 'protect assets owned by Japanese firms operating there.
Sources: India refuses Russian LNG due to sanctions; talks continue about permitted cargoes
Two sources who are directly involved in the matter confirmed that India had declined Russia's offer of liquefied gas, subject to U.S. sanction, despite a shortage caused by Middle?East tensions. This has left a tanker…
China's energy imports fall in April amid the Iran War as fuel exports reach a decade-low
China's oil exports dropped to their lowest level in nearly four years as the Strait of Hormuz was closed in April, cutting off the oil supplies to the world's largest oil importer. According to data released by the customs on Saturday…
Even if the conflict ends, oil supply shock will worsen due to further decline in inventories
Even if U.S.-Iran reach a peaceful agreement to end their war, oil supplies will tighten in the coming weeks. It will take weeks before oil shipments from the Middle East Gulf can be resumed and reached refiners around the world.
Even if the conflict ends, oil supply shock will worsen due to further decline in inventories
Even if U.S. and Iran reach a peaceful agreement to end their conflict, oil supplies will tighten in the coming weeks. It will take weeks for oil to be shipped from the Middle East Gulf to refiners around the world. Oil…
Germany, Poland Discuss Replacement Oil Deliveries after Russia Plans to Halt Supplies
Germany is in talks with Poland to examine whether short-term and temporary replacement oil supplies could be delivered to the PCK Schwedt refinery via the port of Gdansk after Russia said it would halt the supply of Kazakh crude oil via the Druzhba pipeline, a spokespe
TSX falls as US-Iran negotiations weigh; ARC Resources soars
Canada's main index of stocks edged down on 'Monday' as a lack of progress in U.S. - Iran peace 'talks dampened 'risk appetite'. However, Canadian energy producer ARC Resources saw its shares jump after Britain's Shell announced a $16.4billion deal. At 10:35 am.
Palm prices slip on weak demand and rising production
Malaysian palm oil futures fell on Monday as prices were pressured by a sluggish demand from major markets and a rising production. By midday, the benchmark 'palm oil contract' for July delivery at the?Bursa?Malaysia…
SLB and Baker Hughes expect oil exploration expenditure to rise as the Iran war disrupts supplies
SLB and Baker Hughes, two of the top oilfield service companies, said Friday that they expected to spend more on oil exploration and production as the Middle East conflict has impacted?global oil supplies, highlighting a?need? for investment.
Brent Crude Prices Rise as Trump Threatens to Attack Mine-Laying Ships in Hormuz
Brent crude futures climbed more than $1 a barrel on Thursday following U.S. President Donald Trump's threat to attack ships laying mines in the Strait of Hormuz, casting doubt on the survival of a ceasefire in the war with Iran.Brent crude futures were up $1.26…
EU warns that Iran war will prolonge energy shock and force forced cuts
EU diplomats warned on Wednesday that if the Iran conflict continues, energy markets would face a 'prolonged supply shock, which could force fuel consumption to be cut. The Strait of Hormuz has been effectively closed by the war…
European and African crude oil prices reach records due to supply disruptions despite ceasefire
European and African crude prices climbed on Wednesday to new'records,' defying a sharp drop in oil futures following the U.S./Iran ceasefire negotiated on Tuesday. Traders 'priced in' a disruption in physical oil supplies for a long time.
Kyodo reports that Japan is considering a new release of approximately 20 days worth of oil reserves from its reserves
Kyodo, a Japanese newspaper, reported that Japan is considering releasing a fresh release of 20 days worth of oil as soon as May. This comes amid uncertainty about the reopening of Strait of Hormuz despite a U.S. Iran ceasefire.
India buys Iranian oil for the first time in seven years without any payment issues
The oil ministry announced on Saturday that Indian refiners had purchased Iranian oil?amid a Middle East conflict which has?disrupted supplies via the Strait of Hormuz. India, the world's third largest oil importer and user…
Sources say that OPEC+ is likely to increase oil production on Sunday.
Two OPEC+ source said that OPEC+ will likely consider a new oil production increase at their meeting on Sunday. This would allow key producers to 'add more barrels' if the Strait of Hormuz reopens, the world’s most important…
Russia claims that OPEC+ monitor panel will likely discuss oil price increase
?Russian foreign?ministry? said?on?Wednesday that it expects OPEC+ to discuss the recent increase in oil prices at its meeting on April 5th. Brent front-month futures have hit a'record gain' of 64% for the month of March according to LSEG data going back to June 1988.
Slovakia is interested in the gas produced by Romania's Neptun Project
The slovak prime minister Robert Fico stated that the country is interested in receiving natural gas from Romania's Neptun Deep offshore Project, as its Russian supplies are set to cease next year. "We 'expressed interest…
India reduces special excise duty on petrol and diesel
India has slashed the special excise duty on 'petrol and diesel' as fuel prices remain volatile, with supplies being?stifled by the Iran war. The Indian Finance Ministry reduced the special excise tax on petrol from 13…
Iran is open to Spain's request for transit through Hormuz
The Iranian Embassy in Spain announced 'on Thursday' that Iran would accept any request made by Madrid in relation to the Strait of Hormuz, because Spain "respects" international law. This is the first time such a concession has been offered to a member state of the EU.
