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Russia's Gazprom Neft sends its first oil cargo to China via Arctic route
Energy

Russia's Gazprom Neft sends its first oil cargo to China via Arctic route

  • Gazprom Neft said on Monday it took 47 days to deliver a cargo with 144,000 tonnes of light Novy Port oil grade to the Chinese port of Yantai on the Bohai Sea from Russia's north-western city of Murmansk.
  • Combined with its second Arctic oil field, Prirazlomnoye in the Pechora Sea, Gazprom Neft has shipped over 40 million tonnes of Arctic oil to Europe.
Published Jul 13, 2020 08:39pm
US natgas futures slide on rising output, less hot weather
Energy

US natgas futures slide on rising output, less hot weather

  • Traders noted that price decline came despite a drop in liquefied natural gas (LNG) exports this month to their lowest since early 2018.
  • Front-month gas futures for August delivery on the New York Mercantile Exchange fell 2.7 cents, or 1.5%, to $1.778 per million British thermal units.
Published Jul 13, 2020 07:08pm
Saudi oil exports in Aug to stay at July level –sources
Energy

Saudi oil exports in Aug to stay at July level –sources

  • Saudi Arabia often burns more oil - estimated at about 550,000 barrels per day (bpd) - during the hot summer months for power generation.
  • This summer the demand for oil burning is set to rise more than last year due to COVID-19 movement restrictions which have forced millions of people to stay home.
Published Jul 13, 2020 06:26pm
Energy

US natural gas futures fall

NEW YORK: US natural gas futures fell over 2% on Thursday, following a 3% decline in crude futures related to ...

Published Jul 12, 2020 03:02am
US natgas futures slide as output slowly rises, LNG exports remain low
Energy

US natgas futures slide as output slowly rises, LNG exports remain low

  • That lower price move comes despite forecasts the hotter-than-normal weather will continue through late July, prompting consumers to keep their air conditioners cranked up.
  • As the weather heats up, Refinitiv forecast US demand, including exports, will rise from 89.3 bcfd this week to 91.4 bcfd next week and 93.3 bcfd in two weeks.
Published Jul 10, 2020 08:21pm
Libya lifts exports force majeure but says output recovery to be slow
Energy

Libya lifts exports force majeure but says output recovery to be slow

  • The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17.
  • Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done,
Published Jul 10, 2020 06:02pm
South Africa's Eskom implements first power outages in months
Energy

South Africa's Eskom implements first power outages in months

  • Eskom, which generates the vast majority of South Africa's power but for years has had to manage supply from its ageing coal-fired power plants using blackouts.
  • "This loadshedding has been caused by an increase in plant breakdowns exceeding 3,000 megawatts of capacity.
Published Jul 10, 2020 04:49pm
Oil falls $1/bbl
Energy

Oil falls $1/bbl

NEW YORK: Oil prices fell about $1 a barrel on Thursday as investors worried that renewed lockdowns to contain the...

Updated Jul 10, 2020 03:09am
US natgas futures hit 2-month high ahead of storage report
Energy

US natgas futures hit 2-month high ahead of storage report

  • Traders noted the advance came on forecasts the weather will remain hotter-than-normal for the next two weeks.
  • As the weather heats up, Refinitiv forecast US demand, including exports, will rise from 89.2 bcfd this week to 90.7 bcfd next week.
Published Jul 09, 2020 08:29pm