Kazakhstan reduced oil and gas condensate output to 7.96 million tonnes (1.87 million barrels per day) in January from 8.03 million tonnes (1.89 million barrels per day) in December, the country’s Oil and Gas Information and Analysis said on Thursday. Oil output, not including condensate, fell to...
https://www.hellenicshippingnews.com/kazakh-oil-condensate-output-down-1-m-m-in-january/
Sanctions against Russia have split the global oil market, fostering the growth of a “grey” market and pushing up prices, TotalEnergies CEO Patrick Pouyanne said Feb. 8 after the stepping up of measures against Moscow by the EU and G7 countries following the invasion of Ukraine. Referring to...
Russian Deputy Prime Minister Alexander Novak said that European Union moves to add what he called “exemptions” to its price cap on oil products showed that Russian oil was still in demand. “Yesterday we saw another change to the European Union’s regulations, the exemptions,” he said in comments...
Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. Brent crude futures rose $2.17, or 2.57%, to $86.67 a barrel by 0900 GMT. U.S. West Texas...
https://www.hellenicshippingnews.com/oil-prices-jump-more-than-2-on-russian-plan-to-cut-output/
Uganda’s government has permitted state-owned Uganda National Oil Company (UNOC) to start oil exploration in the Kasurubani area, The Monitor newspaper reported. The area covers over 1,285 kilometers across the districts of Masindi, Hoima and Buliisa. The permission comes after issuing a petroleum...
https://www.hellenicshippingnews.com/uganda-allows-state-oil-firm-to-begin-oil-exploration/
ONGC Videsh (OVL) Ltd, the overseas exploration arm of India’s Oil and Natural Gas Corp ONGC.NS, is looking for exploration and production investment opportunities in Africa and Latin America, such as in Ghana and Surinam, managing director Rajarshi Gupta said. The company already has a presence in...
Brazilian state-run oil company Petrobras PETR4.SA said on Wednesday its total sales volumes grew slightly in the last three months of 2022, up 0.6% from a year earlier. Petroleo Brasileiro SA, as the company is formally known, sold 3.07 million barrels of oil equivalent (boe) per day during last...
https://www.hellenicshippingnews.com/oil-sales-at-brazils-petrobras-up-slightly-in-fourth-quarter/
Murban, a Middle East crude benchmark, rose for a third consecutive session on Thursday, partly supported by a supply disruption of Azeri crude exports after a massive earthquake hit the port and oil pipelines. Spot premium of the middle distillate-rich Murban gained 5 cents to $2.91 a barrel over...
Dramatic swings in forecasts for European gas prices this year have left companies and governments struggling to plan ahead as uncertainties for the outlook persist, ranging from the pace of China’s economic recovery to the impact of war in Ukraine. Governments are having to guess the scale of fuel...
India’s fuel demand slipped in January after hitting a nine-month peak in December, hit by lower mobility due to cold weather in parts of the country and a slowdown in industrial activity. Consumption of fuel, a proxy for oil demand, was about 4.6% lower than the previous month at 18.7 million...
https://www.hellenicshippingnews.com/indias-fuel-demand-slips-in-january-from-nine-month-peak/