01252017Wed
Last update: Wed, 25 Jan 2017 04am

Europe

Markets - Energy - Europe

Poland's PKN says buys 1mn oil barrels from Iran WARSAW: Poland's biggest oil refiner PKN Orlen said on Wednesday it bought 1 million barrels of Iranian Light oil from National Iranian Oil Company (NIOC). The state-run PKN, which mostly refines Russian oil, said that the Iranian oil will be delivered to Naftoport in Gdansk in January and then transported to PKN's refinery in Plock. "The processing of the feedstock most recently delivered from Iran will be a basis for further plans regarding supplies from that direction," PKN said in a statement. Earlier this year PKN signed and extended agreement to receive oil from Saudi Aramco. Copyright Reuters, 2016 ...

Markets - Energy - Europe

West Africa Crude-Overhang lingers with new programmes due to emerge LONDON: Around 35-40 cargoes of Nigerian crude remained in January and around a dozen Angolan cargoes. Angola's February loading programme is expected to emerge on Friday followed by Nigeria's schedules early next week. Nigeria's lower house opened an investigation on Tuesday into an offshore oilfield owned by Royal Dutch Shell and Eni, the latest inquiry into their acquisition of the OPL 245 licence block which could hold up to 9.23 billion barrels of oil, according ...

Markets - Energy - Europe

Eni clinches deal with Sonatrach on gas supply contract MILAN: Italian oil and gas group Eni said on Tuesday it had reached an agreement with Algeria's Sonatrach over gas supplies for the gas year 2016-2017. No financial details were provided. Eni, the biggest foreign oil and gas operator in Africa, said the agreement covered almost 20 percent of the gas imported into Italy. "I am particularly pleased with the closing of the renegotiation on the gas supply contract and the level of the strategic ...

Markets - Energy - Europe

Oil demand to grow more swiftly, too early to assess global output cut LONDON: Global oil demand will rise more strongly than expected next year, although it is too soon to assess fully the impact of a joint cut in supply by the world's largest producers, the International Energy Agency said on Tuesday. In its monthly oil market report, the IEA said revisions to its estimate of Chinese and Russian consumption had prompted it to raise its forecast for global oil demand growth this year by 120,000 barrels ...

Markets - Energy - Europe

Russia's Gazprom Neft, Iran's NIOC agree Iranian oil field studies TEHRAN/MOSCOW/BEIRUT: Russian oil producer Gazprom Neft and National Iranian Oil Company (NIOC) agreed on Tuesday to conduct a study into the possible development of two oil fields in Iran, Russia's energy ministry Alexander Novak said. Iran, OPEC's third largest oil producer, plans to launch next year a new-style contract for helping develop its oil and gas fields with invitations to tender to be the first since the lifting of sanctions. Novak said Gazprom Neft, the ...

Markets - Energy - Europe

UK GAS-Prices rise as outages spur buying LONDON: British wholesale gas prices rebounded on Tuesday afternoon after a series of outages were announced, which raised concerns about supply this week and prompted buying. Gas for day-ahead delivery was up 0.60 pence at 45.00 pence per therm at 1403 GMT, while gas for weekend delivery was 0.75 pence higher at 44.95 p/therm. Prices were in decline early on Tuesday due to oversupply but a series of outages at the Netherlands' Bergermeer storage site, ...

Markets - Energy - Europe

Russia signs Rosneft deal with Qatar, Glencore MOSCOW: Russian state holding company Rosneftegaz on Saturday signed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencore to sell a 19.5 percent stake in state-owned oil major Rosneft, Rosneft said. The privatisation deal, which Rosneft Chief Executive Igor Sechin called the largest in Russia's history, was announced by Rosneft in a meeting with President Vladimir Putin on Wednesday.Its success suggests the lure of taking a share in one of the world's ...