Page 28 - Dated Brent News Today

KUALA LUMPUR, May 26 — Petron Malaysia Refining and Marketing Bhd’s net profit edged up to RM106.38 million in the first quarter (Q1) ended March 31, 2022, from RM103.0 million...

Russia will increasingly use barter and specific currency transactions for energy supplies, an S&P Global Commodity Insights analyst said May 24, as a default looms for billions of dollars in foreign currency reserves if the US allows a key waiver to expire May 25. “Ultimately, Russia is likely to see its financial system backed by ...

High energy costs caused in part by Russia’s invasion of Ukraine should not be used to lock in a new wave of fossil fuel investments which threaten to create significant business and climate risks in the future, the head of the International Energy Agency said May 23. Although the immediate response to the loss of ...

The Russian Economy Ministry forecasts Russian hydrocarbons output and exports to drop significantly in 2022, as Russian energy producers grapple with the impact of the invasion of Ukraine and western sanctions. The ministry’s forecasts reflect how the consequences of the invasion are reshaping the Russian energy sector. Its base-case scenario includes oil output falling 9.3% ...

The EU has proposed investments of up to Eur2 billion to cut the bloc’s reliance on Russian crude imports via the Druzhba pipeline as part of plans to rapidly reduce its dependency on Moscow’s oil and gas in the wake of the war in Ukraine. Presenting its REPowerEU plan to end the trade bloc’s dependence ...

Russia’s state-owned oil producers Rosneft and Gazprom Neft have started to use tankers of local state tanker operator Sovcomflot to ship their crude to Asia

Vietnam exported 230,260 mt, or 56,260 b/d, of crude oil in April, an increase of 12.4% from the same month a year earlier, with the Southeast Asian producer aiming to sell as many domestic sweet crudes as possible to minimize its energy trade deficit, market and trade participants said over May 11-17. The country’s crude ...

Almost all sweet crude grades in Europe have been racing higher as record product cracks and supply outages encouraged sellers to put their prices up. Differentials for WTI Midland arriving into Europe through June and early-July, for example, have surged in recent days. WTI Midland DAP Rotterdam was assessed at a $4.18/b premium to forward ...

A number of fears have gripped the oil market – recession, demand destruction, supply disruptions and rock bottom spare capacity to name a few, –so volatile prices are not surprising and are here to stay.

Iraq is redirecting crude flows from its primary customer base in Asia to refineries in Europe — and may soon be able to offer more volumes with the upgrading of a loading port, officials with state marketer SOMO said May 12, as Western countries have sought to wean themselves off of Russian oil. “There is ...