Russian Urals Crude surged above $65/bbl
Russia’s main crude export blend, Urals URL-E URL-NWE-E declared to have traded at above $65 per barrel on Friday for the first time since October 2008. For full story, click here
Articles Tagged "export"
Crude oil headed for $71.55 a barrel
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Boost in UAE’s fiscal surplus by 55 percent
An increase in its oil export income and other revenues boosted the UAE’s fiscal surplus by astonishing 55 per cent in 2008 but the balance is expected to fell sharply this year. Saudi American Bank, Adia, stated: Despite this, we are still projecting a surplus both on the current account balance and consolidated fiscal accounts [...]
Higher oil export duty to become effective in March
The export duty on oil will be $115.3 per tonne starting March 1, 2009, RBC learned from deputy head of the Russian Finance Ministry’s customs payments department, For full story, click here
Cairn India Has Option to Export Rajasthan Crude Oil
Cairn India Ltd., a unit of U.K. explorer Cairn Energy Plc, has the option to export crude oil from its fields in India’s Rajasthan state if the government doesn’t find a buyer for the entire output. For full story, click here
Gov’t announces oil export duty for December
An export duty on oil of $192.1 per tonne will become effective in Russia from December 1, 2008. For full story, click here
RIL’s fuel retailing plans hit duty hurdle
Reliance Industries’ (RIL) plans to sell petrol and diesel from its export-oriented refinery at Jamnagar, Gujarat, in the local market through its 1,600-odd petrol pumps may face some trouble. For full story, click here
20 bn barrel oil discovery puts Cuba in the big league
Cuban government announced there may be more than 20bn barrels of recoverable oil, which is more than double the estimate in offshore fields in the country’s share of the Gulf of Mexico. Kirby Jones, founder of the Washington-based US-Cuba Trade Association said: It would change their whole equation. The government would have more money and [...]
Benchmark: Troubled waters
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
Bigger crude oil export revenues for Vietnam
Vietnam is estimated to post a jump of 53.3 percent in crude oil export value (YOY basis), despite a10.8-percent decrease in export volume, in the first eight months of this year. According to the country’s General Statistics Office: Between January and August, Vietnam is set to export nearly 9 million tons of crude oil worth roughly 7.9 billion [...]
