Tag: OIL
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Saudi Aramco inks $12.2 billion Chinese oil refinery, petchem complex deal
SINGAPORE, March 27 (Reuters) – Saudi Aramco (2222.SE) on Sunday signed an agreement with Chinese partners for an oil refining and petrochemical project in northeastern China expected to open in 2026 to meet growing demand from the land to fuel and chemicals. The project in the city of Panjin in Liaoning Province will be Aramco’s […]
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Oil stable as a surprise US crude oil draw counteracts the jitters of rate hikes
API Shows U.S. Crude Oil Stocks Falling – Market Sources The US Fed’s Powell is setting the tone for higher and faster rate hikes The rise in the dollar keeps oil under control SINGAPORE, March 8 (Reuters) – Oil prices stabilized on Wednesday as industry data showed an unexpected fall in US crude inventories after […]
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China leans on coal amid energy security
State planner says to increase coal production Sees coal ‘supporting’ renewable energy expansion Calls for controls on replacing coal with gas Indicates that higher gas prices are coming for urban users BEIJING, March 5 (Reuters) – China’s state planner on Sunday underscored a greater role for coal in its power supply, saying the fossil fuel […]
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Oil Sets on Hope in Chinese Demand, Post Weekly Gains
Oil benchmarks settle at highest level in 3 weeks Report UAE may leave OPEC ‘far from the truth’, sources say Chinese data, record US exports support oil prices Dollar falls; analysts see more weakness in the next 12 months BENGALURU, March 3 (Reuters) – Oil prices recovered from a brief sell-off to rise more than […]
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Oil lower on fixed dollar, market shrugs off Russian austerity
Dollar at multi-week peak Fear of aggressive Fed return after Friday’s economic data US crude oil rises highest since May 2021 Feb 27 (Reuters) – Oil prices fell in volatile trading on Monday as a stronger dollar and recession fears could wipe out gains from Russia’s plans to deepen oil supply cuts. West Texas Intermediate […]
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Russia halts pipeline oil supply to Poland, says PKN Orlen
WARSAW, Feb. 25 (Reuters) – Russia has cut oil supplies to Poland through the Druzhba pipeline, the CEO of the Polish refinery PKN Orlen (PKN.WA) said on Saturday, adding that the company would explore alternative sources to supply it to close the hole. . The halt to supplies through the pipeline – which is exempt […]
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Exclusive: Russia plans oil export cuts in March, sources say
MOSCOW/LONDON, Feb. 22 (Reuters) – Russia plans to cut oil exports from its western ports by up to 25% in March from February, surpassing announced production cuts in a bid to drive prices for its oil increase, three sources in the Russian said the oil market. The Russian Ministry of Energy declined to comment. Russia’s […]
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‘No excuse’: IEA tells energy companies if methane emissions rise
LONDON, Feb. 21 (Reuters) – The fossil fuel industry is failing to address methane emissions despite its commitments to expose and repair leaking infrastructure, according to a report from the International Energy Agency (IEA) published Tuesday. In 2022, the global energy industry released about 135 million tons of methane into the atmosphere – a potent […]