Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of…
World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook…
World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy.Fuel use has rebounded from the 2020 pandemic-induced slump…
China is set to receive close to two million barrels of Iranian oil this week and pump into a reserve base in south China, according to tanker tracker specialist Vortexa Analytics.Diona, a very large crude carrier owned by National Iranian Tanker Company (NITC)…
Traders are deploying smaller, costlier vessels to ship displaced Russian oil from European ports to China, in a rare move as Western sanctions on Moscow force them to use unconventional methods to transport the product.About 5 million barrels…
India's Oil and Natural Gas Corp (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions…
Oil prices rose on Tuesday, recovering some of the previous session's losses as Kazakhstan's supplies continued to be disrupted and major producers showed no sign of being in a hurry to boost output significantly.Brent crude LCOc1 rose $1.54…
Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have…
Iranian oil exports have risen to more than 1 million barrels per day for the first time in almost three years, based on estimates from companies that track the flows, reflecting increased shipments to China.Tehran's oil exports have been limited since former U…
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Brent crude rose $2…
OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the group of oil producers told Reuters on Monday…
Carnarvon Energy announced drilling has commenced at the Buffalo-10 well in the Timor Sea as the Australian oil and gas company aims to confirm sufficient hydrocarbons to support an economic development at the shut in Buffalo field north of Australia…
Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand.Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78…
China's oil consumption is expected to keep growing for a decade on robust chemical demand, reaching a peak of about 780 million tonnes per year by 2030, a research institute affiliated with China National Petroleum Corp (CNPC) said on Sunday…
BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have evaporated, according to a document seen by Reuters.Dated Brent…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
