The Kremlin said on Monday that Ukraine would pay the price for striking oil refineries. Kremlin spokesman Dmitry Peskov was commenting on Ukrainian President Volodymyr Zelenskiy's interview to Reuters, in which he said that Ukraine would double down on attacking Russian oil refineries in response to a new policy of airstrikes by Moscow. (Reporting by Dmitry Antonov; writing by Vladimir Soldatkin; Editing by Aidan Lewis) [Read more]
Aramco can make 12 million bpd available within days, CEO says
Saudi Aramco can make its maximum sustainable production capacity of 12 million barrels per day available within days, Chief Executive Amin Nasser told the Energy Intelligence conference in London on Monday. "Our system is intact," Nasser said, adding that the firm has the strategic reserves and flexibility to isolate or shift output as needed. (Reporting by Anushree Mukherjee and Robert Harvey in London, Editing by Louise Heavens) [Read more]
Replenishing crude, fuel supplies could take two years, Saudi Aramco CEO says
The squeeze on crude oil and refined fuels is set to tighten, and it could take up to two years to refill global stockpiles drawn on as an emergency measure, the chief executive of the world's biggest oil company Saudi Aramco said on Monday. Following the start of the US-Israeli war on Iran at the end of February, Iran effectively closed the Strait of Hormuz, choking exports through one of the world's most crucial shipping bottlenecks. Under pressure from US President Donald Trump, the [Read more]
Oil slips as Middle East crude exports rise, G7 to release stocks
Oil prices slipped on Monday as rising crude exports from the Middle East and a release of oil stocks from Group of Seven nations are adding to supplies despite ongoing concerns about further damage to Gulf oil infrastructure amid the Iran war. Brent crude futures fell 35 cents, or 0.34%, to $101.90 a barrel by 0115 GMT, while US West Texas Intermediate crude was at $90.49 a barrel, down 62 cents, or 0.68%. Brent gave up most of its gains last week while WTI was 1.6% lower after G7 [Read more]
Saudi Arabia unexpectedly cuts oil prices to Asia
Saudi Arabia has unexpectedly cut November crude oil prices for Asia while it raised those for northwest Europe and the Mediterranean regions, a pricing document showed on Monday. The largest Middle Eastern crude exporter set the November Arab Light crude oil official selling price to Asia at $5 a barrel below the average of Oman and Dubai prices, down $3 from the previous month. The discount for November is the widest since June 2020, Reuters data showed. This was against expectations of [Read more]
Alaska LNG shipping savings justifies billions in investment, developer says
Alaska LNG's developer said the project's access to stranded natural gas and shorter shipping routes to Asia will make it competitive with US Gulf Coast rivals, despite questions from some analysts about the project's massive infrastructure costs. When the project is completed, the cost of shipping gas to Asia from Alaska's North Slope would be at least 65% cheaper than shipping LNG from the Gulf Coast, Tim Fitzpatrick, communications director for project developer Glenfarne, said on Sunday [Read more]
Iran’s oil minister resigns, no reason given
Iran's Oil Minister Mohsen Paknejad has resigned and Hamid Bovard, chief executive of the government-owned National Iranian Oil Company, will be in charge of the ministry as acting minister, state media said on Sunday, without providing a reason for the resignation. Mohsen Paknejad has been the oil minister of the OPEC member country since August 2024 and resigns as the seven-month war between Iran and the US puts pressure on the country's economy. "With acceptance of Mohsen Paknejad's [Read more]
Yemen leader announces major military operations against Iran-backed Houthis
The leader of Yemen's Saudi-backed government announced the beginning of a major military operation against the Iran-backed Houthis on Sunday aimed at seizing the territory under their control. "Today, I announce the start of military operations to retake the remaining territory of the republic and extend the authority of the state and its institutions across the entire national territory," Yemeni President Rashad al-Alimi said in a televised address. (Reporting by Eman Abouhassira and Timour [Read more]
Iran says Strait of Hormuz will not reopen until conditions are met
The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, state media reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday. Iran presented a proposal during the UN General Assembly under which the Strait of Hormuz waterway could be reopened and normal maritime passage restored within seven days if the conditions were met, with the US replying to this proposal last week via Qatari intermediaries. "The [Read more]
Iraq says it transported 2 million barrels of crude through Strait of Hormuz
Iraq's state-owned Oil Tanker Company transported 2 million barrels of Iraqi crude aboard a very large crude carrier (VLCC) through the Strait of Hormuz, in what its director general described on Saturday as the company's first such operation in decades. * The announcement means the company is transporting the crude through the strait rather than delivering it at the port of Basra, giving state oil marketer SOMO greater flexibility in how and where it sells the crude. * The company's director [Read more]
- « Previous Page
- 1
- …
- 25
- 26
- 27
- 28
- 29
- …
- 1264
- Next Page »