World Oil (Bloomberg) — The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine. The oil tanker Moscow Spirit — hired by TotalEnergies SA’s shipping arm — is sailing toward Rotterdam, Netherlands with a cargo of about 1 million barrels
World Oil Aramco, which last week surpassed Apple Inc. to become the world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi Arabian firm’s results were boosted by crude’s jump to $110 a barrel after Moscow’s attack in late February. State-controlled Aramco made net income of $39.5
World Oil (Bloomberg) — Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive. Iran will “exert maximum effort to recoup its crude oil market share and revive its customers,” Mohsen Khojastehmehr, managing director
Nasdaq 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 rose 4.4% from about 7 million bpd reported for January. The world’s largest oil exporter’s February crude production also rose to its highest level in nearly two years at
CNBC U.S. natural gas prices surged to the highest level in more than 13 years Monday as Russia’s war on Ukraine causes a global energy crunch, and as forecasts called for cooler spring temperatures. Futures jumped more than 6% to trade as high as $7.80 per million British thermal units, the highest since October 2008. The jump builds on recent strength,
Nasdaq March 22 – Saudi Arabia’s cabinet emphasised on Tuesday “the essential role” of the OPEC+ agreement in bringing balance and stability to oil markets, Saudi state news agency SPA reported. The statement, a little over a week before OPEC+ is scheduled to meet, indicates little chance the grouping will decide to raise oil output at a faster pace. Several
Yahoo News RIYADH – The United States and Britain are ramping up pressure on Saudi Arabia to pump more oil and join efforts to isolate Russia, while Riyadh has shown little readiness to respond and has revived a threat to ditch dollars in its oil sales to China. British Prime Minister Boris Johnson flew into the world’s biggest crude oil
Reuters LONDON (March 4): Oil jumped 4% toward US$115 a barrel on Friday in a volatile session as fears over disruption to Russian exports in the face of Western sanctions outweigh the prospect of more Iranian supply in the event of a nuclear deal with Tehran. Russian forces in Ukraine seized Europe’s biggest nuclear power plant in what Washington called
Reuters Oil steadied after hitting prices not seen in roughly a decade on Thursday, as sellers jumped in on hopes that the United States and Iran will agree soon to a nuclear deal that could add barrels to a badly undersupplied market. Trade was volatile, however, as investors anticipate ongoing disruption to worldwide oil flows due to heavy sanctions on
Oil and Gas 360 HOUSTON, TX & KHOBAR, SAUDI ARABIA — March 1, 2022 — Data Gumbo, the industrial smart contract network company, today announced the launch of an office in Khobar, Saudi Arabia. The new location will accelerate regional traction with leading industrial enterprises and continue the company’s record growth on a global scale. Data Gumbo is establishing a
Nasdaq BASRA/LONDON, Feb 14 – A $27-billion deal between France’s TotalEnergies <TTEF.PA> and Iraq, that Baghdad hoped would reverse the exit of oil majors from the country, has stalled amid disputes over terms and risks being scrapped by the country’s new government. Iraq has struggled to attract major fresh investments into its energy industry since signing a flurry of post
Nasdaq LONDON, Jan 31 – Top gas producer Qatar is asking the European Union to restrict resales of gas outside the bloc if it wants Qatar and other major gas suppliers to provide emergency supply in case of a Russia-Ukraine conflict, a person briefed on the talks said. Qatar has also requested an EU resolution to a 2018 probe into
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