Tag Archive | "russia"

Russia and Middle Eastern Oil Sources Competing for Asian Business

Thursday, July 8, 2010

Japanese and South Korean refiners have increased oil purchases from Russia, eroding the dominance of Middle Eastern suppliers and electing for a more competitive crude source that is three weeks closer by ship. While Russian exports have surged over the last 6 months, the Middle East remains dominant, with total Middle East output in June around 19.9 million barrels, while Russia’s output was 10.3 million barrels, peaking at 330,000 barrels a day in June.

Russia’s LUKOIL has piped Valero for stake in Total refinery

Friday, June 19, 2009

Russia’s LUKOIL has purchased a stake in a Dutch refinery from France’s Total, gaining a foothold in northwest Europe and blocking a bid by the biggest U.S refiner, Valero, to enter the region. For full story, click here

India’s proposal for a crude oil price band has found supporters

Tuesday, June 16, 2009

India’s year-old advice of an oil price band to reduce volatility in the crude oil market has won the backing of Nigeria, Russia, France, Japan, South Korea and the US, but experts say the proposal may be difficult to implement in the absence of a broader agreement between oil producing and consuming nations. For full story, [...]

Lukoil has returned to a profit amid higher crude prices

Saturday, June 6, 2009

Russian oil producer OAO Lukoil Holdings on Wednesday declared its first-quarter net profit slipped 71% from a year earlier, hurt by a dip in crude prices. For full story, click here

Russian Urals Crude surged above $65/bbl

Friday, May 29, 2009

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

Russia’s crude oil output surged

Monday, April 20, 2009

Crude oil output from Russia is expected to boast modest gains in 2009 despite earlier forecasts of a dip in the industry. For full story, click here

Downward Pressure On Oil Price

Friday, April 17, 2009

Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.

Oil Price Peaks And Slides

Monday, April 6, 2009

Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.

Cuba negotiating oil exploration deal with Russia, China

Thursday, March 19, 2009

Cuba is holding talks regarding oil exploration and production deals with Russia, China and Angola, with Moscow shaping up as the partner that could make the communist island energy self-sufficient. Basic Industry Minister Manuel Marrero, said: The Cuban oil industry’s venturing out into deep sea waters in the Gulf of Mexico very likely will result in an [...]

Iran, Russia sign letter of understanding on energy cooperation

Monday, March 16, 2009

Iran’s Minister of Oil Gholam-Hossein Nozari signed a letter of understanding on energy cooperation with Russian Minister of Energy Sergei Shmatko, this Sunday evening. The two sides agreed to cooperate on exchanging crude oil. For full story, click here

Oil Price Chart
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