- — Russian energy minister sees no reason to reduce pertoleum products output
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at 2/3/23 3:00pmRussian energy minister Nikolai Shulginov on Friday said there was no reason for a sharp reduction in the countrys petroleum products output in repsponse to a European Union embargo, Interfax reported. Interfax cited Shulginov as saying that Russia was not considering rescheduling maintainance works at refineries because of the embargo and that the price of ...- — U.S. backs smaller version of ConocoPhillips Alaska oil project
- at 2/3/23 3:00pmPresident Joe Bidens administration said on Wednesday it would support a scaled-back version of ConocoPhillips (NYSE:COP) planned $6 billion Willow oil and gas drilling project in Alaska but has not yet made a final decision on the contentious proposal. The Willow projects fate is being closely watched by both the oil and gas industry and ...
- — U.S. diesel stocks start the year critically low
- at 2/3/23 3:00pmSlowdowns in manufacturing activity and freight transportation have combined with unusually high refinery run rates to stabilise and rebuild U.S. distillate fuel oil inventories modestly since the start of October. But stocks of diesel and other distillate fuel oils remain very low by historical standards and will come under pressure again quickly if freight volumes ...
- — Commodities: Milder winter offers some comfort to energy markets
- at 2/3/23 3:00pmDrastic change in the natural gas outlook A late start to the 2022/23 heating season saw Europe building gas storage almost until mid-November. At a little more than 95% full, storage was essentially maxed out. This was far above the target of 80% by 1 November 2022 set by the European Commission. While there have ...
- — Iran’s oil, gas incomes surge 40%: Oji
- at 2/3/23 3:00pmIranian Oil Minister Javad Oji has said the country’s incomes from the sales of oil, natural gas, gas condensate, and petroleum products in the first 10 months of the current Iranian year (March 21, 2022-January 20, 2023) increased by 40 percent compared to the same period last year. Addressing an open session of the parliament ...
- — Sanctions on Russian crude oil have ‘failed completely,’ oil analyst says
- at 2/3/23 3:00pmSanctions imposed on Russian crude oil have so far “failed completely” and new price caps could prove immaterial as well, analysts told CNBC. The European Union is planning to ban imports of refined petroleum products from Russia, including diesel and jet fuel, from Sunday. The 27-member bloc has already banned the purchase and import of ...
- — EU agrees price caps on Russian oil products
- at 2/3/23 3:00pmEU countries agreed on Friday on a European Commission proposal to set price caps on Russian refined oil products, the Swedish presidency of the European Union said. EU diplomats said the price caps agreed by ambassadors for the 27 EU countries are $100 per barrel on products that trade at a premium to crude, such ...
- — Benchmarks fall; Jan ESPO loading hits record high
- at 2/3/23 11:00amMiddle East crude benchmarks Oman, Dubai and Murban edged lower on Friday amid thin trade, while the final plan of the European Union sanction on Russian oil products is under watch. The market is also waiting for top oil exporter Saudi Arabia to publish its official selling prices (OSPs) for March-loading cargoes. The OSPs to ...
- — ExxonMobil, Chevron’s big cash shows cheap gas isn’t coming back
- at 2/3/23 7:00amIf you want a quick outlook on whether U.S. gas prices are likely to return to pre-Covid levels, a good place to start is earnings reports from Chevron and Exxon in the last week. The outlook: Dont count on it. In their fourth-quarter earnings reports, both companies showed clear signs of Big Oils renewed focus ...
- — NuStar targets to move 600,000 b/d of Permian crude to US Gulf Coast in 2024
- at 2/3/23 7:00amNuStar Energy is targeting to move 600,000 b/d of land-locked crude from the Permian basin in 2024 to refineries and export facilities in Southern Texas and along the US Gulf Coast, CEO Brad Barron said Feb. 1. The companys Permian Crude System delivered 584,000 b/d of WTI barrels in the fourth quarter of 2022, 13% ...
- — Indonesia 2023 gasoline demand, imports likely to exceed 2022 records
- at 2/3/23 7:00amGasoline consumption and imports in Indonesia, Asias largest importer of the motor fuel, could hit records this year as the nation recovers from COVID-related travel curbs, although growth is expected to slow slightly along with its economy. Indonesias gasoline consumption is headed for an all-time high of 670,000 barrels per day (bpd) in 2023, up ...
- — The Commodities Feed: Russian products ban imminent
- at 2/3/23 4:00amEnergy EU ban on Russian refined products set to start The EU’s ban on Russian refined products is finally set to start this Sunday, which will have a significant impact on Russian flows of gasoil and naphtha to Europe. However, despite this imminent disruption to flows, the market appears relatively calm the gasoil ...
- — Oil weakens as market awaits signs of China demand recovery
- at 2/3/23 4:00amOil prices eased on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. Brent crude futures fell 34 cents, or 0.4%, to $81.83 a barrel by 0740 GMT, while U.S. West Texas ...
- — More oil is coming
- at 2/3/23 4:00amPresident Biden spent much of 2022 exhorting US and foreign energy providers to produce more oil and natural gas. He’s finally getting his wish—though not exactly where he might have expected. New analysis by consulting firm Wood Mackenzie finds that worldwide fossil-fuel exploration in 2022 hit the highest levels in over a decade. The firm ...
- — EU regulatory body ACER publishes first daily LNG reference price
- at 2/3/23 4:00amEU regulatory body ACER on Feb. 1 published its first daily LNG reference price as part of the EUs new gas market correction mechanism (MCM). The MCM reference price is an approximation of the price to continue importing LNG to the EU and is based on the ACER LNG price assessment and a number of ...
- — Oil steadies on mixed economic data, Russian petroleum products ban
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at 2/2/23 3:00pmOil prices steadied on Thursday on mixed data about the state of the U.S. economy and looming sanctions on Russian oil products. Brent crude futures fell 5 cents to $82.79 a barrel by 12:39 a.m. ET (1739) GMT, while West Texas Intermediate crude (WTI) rose 3 cents to $76.44. Both benchmarks plunged more than 3% ... - — Shell 2022 profit more than doubles to record $40 billion
- at 2/2/23 3:00pmShell (LON:RDSa) delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russias invasion of Ukraine allowed it to hand shareholders unprecedented returns. The British companys record earnings, which more than doubled from a year earlier, mirror those reported ...
- — Russia seeks $220 mln in unpaid taxes from Exxon -reports
- at 2/2/23 3:00pmThe Russian General Prosecutors Office is asking a court to recover 15.5 billion roubles ($220 million) in allegedly unpaid taxes from U.S. oil major ExxonMobil, local news agencies TASS and Interfax reported on Tuesday citing court documents. The Sakhalin regional court website lists a claim against Exxon Neftegaz Ltd, ExxonMobils Russian subsidiary, by the General ...
- — Oman crude volumes traded on DME surpass 3bln-barrel mark
- at 2/2/23 3:00pmThe Dubai Mercantile Exchange (DME), the trading platform for DME Oman — the Oman crude oil benchmark — has supplied more than 3 billion barrels of Omani crude through its physical and EFP mechanism, since its inception in 2007. It recorded a 23 per cent increase year-on-year in physical volumes in 2022 with more than ...
- — Russia issues detailed measures to counter Western oil price cap
- at 2/2/23 3:00pmThe Russian government issued a legal paper on Monday listing out detailed measures of how Russia will cope with the price cap imposed by Western countries after the countrys President Vladimir Putin signed a decree to ban sales of the nations oil to any buyers adhering to a price cap introduced by Western countries, which ...
- — ConocoPhillips Reports Fourth-Quarter Earnings of $3.2 Bullion
- at 2/2/23 3:00pmConocoPhillips (NYSE: COP) today reported fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share, compared with fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share. Excluding special items, fourth-quarter 2022 adjusted earnings were $3.4 billion, or $2.71 per share, compared with fourth-quarter 2021 adjusted earnings of $3.0 billion, or $2.27 per share. Special ...
As of 2/3/23 8:38pm. Last new 2/3/23 6:30pm.
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