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Russian crude oil exports seen down 6pc in Q4 MOSCOW: Exports of seaborne Russian Urals and ESPO crude oil blends were seen declining by 6.2 percent to 50.17 million tonnes in the last three months of the year from the previous quarter, traders said on Monday, citing a quarterly loading schedule.Russia has been cutting crude oil exports as it has increased production of oil products from its refineries.Traders also said that the Black Sea port of Novorossiisk is expected to load 7.4 million tonnes next quarter, down from 8.86 million tonnes. However, shipments of Azerbaijan crude via the port in the fourth quarter has not been yet agreed.Russian crude exports from the Baltic Sea port of Primorsk were seen down to 11.5 million tonnes in the fourth quarter from 12.5 million tonnes in July-September.Shipments from the neighbouring port of Ust-Luga were scheduled unchanged, at 6.5 million tonnes.Fourth-quarter ESPO crude exports from the Pacific port of Kozmino were expected to ...
Brent oil hits another 2-year low on demand fears LONDON: Global oil prices hit a fresh two-year low on Monday as weak Chinese economic data stoked concerns about the strength of world energy demand, dealers said.In early morning deals, Brent North Sea crude for delivery in October sank to $96.21 per barrel, the lowest level since July 2, 2012. The contract later stood at $96.73, down 38 cents from Friday's close.US benchmark West Texas Intermediate (WTI) for October lost 85 cents to $91.42 a ...
Russia's Gazprom Neft sticks to development plans after sanctions PRIRAZLOMNAYA OIL PLATFORM: Gazprom Neft, the oil arm of Russian state gas company Gazprom, will stick to its production plans at its Prirazlomnoye oil field in the Arctic despite being put under Western sanctions, First Deputy CEO Vadim Yakovlev said. "At the moment, we don't think that this will affect our long-term plans," he told reporters at the platform, located some 60 km (40 miles) away from the shore in the Pechora Sea.The oil field ...
UK gas prices climb on undersupplied system LONDON: British prompt wholesale natural gas prices climbed on Monday morning as low imports and reduced domestic flows created a tight system.Gas prices for Monday delivery were up 7.08 percent to 48.40 pence per therm by 0813 GMT, having hit an intra-day high of 48.50 pence. Day-ahead gas for Tuesday delivery was up 6.22 percent at 47.85 pence.Britain's gas system was undersupplied by around 26 million cubic metres (mcm), with demand forecast at around 166 ...
Global oil prices slump, sugar turns sour LONDON: Commodity prices dropped this week as the dollar strengthened, with Brent oil sinking to its lowest level in more than two years against a backdrop of solid supplies and sluggish demand.Sugar futures meanwhile touched multi-year lows, weighed down by expectations of a large surplus of supplies.OIL: Brent oil prices dived to $96.72 on Thursday touching a low point last seen in 2012 while WTI hit a 16-month trough at $90.43.Prices plumbed the latest depths ...

 





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