State TV reports that the US has extended sanctions waivers to Serbian refiner NIS owned by Russians.
RTS TV reported on Friday that the U.S. Treasury Department had extended a waiver of sanctions to Serbia's Russian owned NIS oil company. This will give Serbia another month to import much-needed winter fuel supplies.
India's state-owned BPCL signs $780 million oil contract with Brazil's Petrobras
India's Bharat Oil Corp Ltd. will purchase?12,000,000 oil barrels from Brazil's Petrobas for $780 million in fiscal 2027. This is?twice as much as its contract with Petrobas 2026, and will be used to replace Russian oil. A government statement was released on Friday.
Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Indonesia has scrapped plans to introduce a mandatory B50 palm oil-based fuel this year, and will instead stick with B40 due to "funding and technical concerns", government officials announced on Wednesday. This eases…
Palm snaps four-session rally due to high stock prices
Malaysian palm futures ended a four session rally on Monday. They were weighed down by increased inventories but kept in check by expectations of declining?production and firmer demand. By the close, the benchmark palm…
Sources say that OPEC+ will maintain its oil production policy.
Four OPEC+ sources have said that OPEC+ is likely to leave the oil production levels unchanged during its Sunday meetings. The group has slowed down its efforts to regain market shares amid fears of a looming glut. The…
Palm prices down on weak demand and strong ringgit, but set to gain for a second week
Malaysian palm futures prices were little changed Friday as the weaker demand and stronger ringgit weighed heavily on the market. However, expectations of tighter production provided support. At midday, the benchmark…
Australian shares are on the rise as sectoral strength offsets the banking slump
Australian shares traded within a narrow range Wednesday as investors held back their risk appetite due to waning expectations for additional monetary policy ease. S&P/ASX 200 index remained at 8,474.50 as of 2320 GMT…
Energy Transition' Future: Fractured, Bumpy and Long
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago.The spirit of cooperation that once reigned has been shattered by economic rivalries and…
Oil Prices Rise Amidst Latest US Sanctions
Oil prices rose on Tuesday on the impact of the latest U.S. sanctions on Russian oil and optimism that the U.S. government shutdown could end soon, although oversupply concerns limited gains.Brent crude futures were up $1.14, or 1.78%, to $65.2 a barrel at 11:50 a.m.
BP CEO predicts that non-OPEC+ oil supplies could decrease by April
BP Chief Executive Murray Auchincloss stated on Monday that oil supply growth outside OPEC+ may decline by April while demand remains strong. Auchincloss stated that "there is a supply rise outside of OPEC+." "We believe that will end in February, March and April.
Ukraine Strikes Two Russian Oil Distribution Facilities
Ukraine's military struck two Russian oil distribution facilities in the Bryansk and Samara regions overnight, Kyiv's general staff said on Tuesday.In Samara, the military hit a line production station that mixes Russian oil for its flagship Urals oil grade for export…
TASS reports that Russia's top oil executive said Asian oil demand is still growing.
Alexander Dyukov of Russian oil giant Gazprom said that the demand for crude oil in Asia continues to increase, while China, among other countries, has been replenishing its crude stocks, according to TASS. OPEC+ agreed this month to increase oil production in October…
Oil Prices Ease Lower As Investors Await Federal Reserve Decision on Interest Rates
Oil prices eased on Wednesday after data showing an increase in U.S. diesel stockpiles stoked worries about demand, while investors awaited the U.S. Federal Reserve's decision on interest rates.Brent crude futures lost 25 cents, or 0.37%, to $68.22 a barrel by 1:20 p.m.
Kazakhstan Resumes Baku-Tbilisi-Ceyhan Pipeline Exports After Contamination Issues
Kazakhstan resumed oil supplies via the Baku-Tbilisi-Ceyhan pipeline on September 13, state energy company Kazmunaygaz said on Wednesday.Supplies via the route were suspended last month amid contamination issues.The BTC pipeline…
Russian Oil Supplies to Hungary and Slovakia Halted After Ukraine Attack
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days after a Ukrainian strike on a facility in Russia, Hungarian and Slovakian officials said on Friday, in a widening of the fallout of…
Oil Prices Rise by Nearly 2% After Drone Strike on Russian Terminal
Oil prices rose by nearly 2% on Friday after a Ukrainian drone attack on a Russian port suspended loadings, outweighing pressure from oversupply concerns and weaker U.S. demand risks.The drone attack on Russia's northwestern…
Palm prices fall as demand is threatened by high prices
Malaysian palm futures fell on Monday amid fears that recent high prices may dampen future demand. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for delivery in November fell 22 ringgit or 0.49% to 4…
Poland Urges EU Members to End Russian Oil Imports by 2026
Poland has urged European Union member states that are still buying Russian energy to end those imports by the end of 2026 and will offer them help towards that effort, Energy Minister Milosz Motyka said on Wednesday.The…
Interior secretary: US wants to strengthen energy ties with Greece
Interior Secretary Doug Burgum told reporters in Athens that the U.S. is looking to strengthen its energy relations with Greece. This comes as the Trump Administration works to reduce Russia's gas and oil supplies to Europe.
Oil Prices Steady as Ukraine Peace Process Stalls
Oil prices steadied on Friday amid uncertainty surrounding a potential peace deal between Russia and Ukraine, with prices remaining on track for their first weekly gain in three weeks.Brent crude futures were down 3 cents at $67.64 a barrel as of 1:00 p.m.