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oil products

Oil track for big weekly drop as supply concerns mount
Markets

Oil track for big weekly drop as supply concerns mount

  • Brent crude was down 82 cents, or 1.1%, at $72.65 a barrel, heading for a 3.8% fall this week.
  • Saudi Arabia and the UAE reached a compromise this week, paving the way for OPEC+ producers to finalise a deal to increase production.
Published 16 Jul, 2021 09:05pm
SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries
Business & Finance

SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries

  • The deal is likely to pave way for the resumption of Rosneft's exports of fuel to Ukraine, which has faced with the prospects of diesel shortages.
  • The operations were halted after a ruling by Kiev's Supreme Anti-Corruption Court led to the seizure of diesel, owned by the Swiss-based trader, that was in the pipeline from Russia.
Published 17 May, 2021 07:43pm
Ukraine turns to sea-borne diesel imports as tensions rise with Russia
Markets

Ukraine turns to sea-borne diesel imports as tensions rise with Russia

  • Tensions between Russia and Ukraine have flared in recent weeks after years of strain began in 2014 when street protests in Kyiv resulted in the flight of the pro-Moscow president and annexation of Crimea by Russian forces.
  • The data also showed that the Serena M tanker shipped 30,000 tonnes of diesel to the port of Yuzhny from Turkey in the second half of March.
Published 05 Apr, 2021 07:43pm
Belarus to ship 280,000 tonnes of oil products via Russian ports in April
Markets

Belarus to ship 280,000 tonnes of oil products via Russian ports in April

  • Belarus has exported 220,000 tonnes of oil products to Russia since shipments began in March, Russian Prime Minister Mikhail Mishustin said separately on Monday.
  • The shipments were scheduled to start from March, totalling 2 million tonnes this year, 3.2 million tonnes next year and 3.1 million tonnes in 2023.
Published 05 Apr, 2021 05:41pm
OPEC+ compliance with oil cuts rises to 113pc in February
Markets

OPEC+ compliance with oil cuts rises to 113pc in February

  • Compliance from members of the Organization of the Petroleum Exporting Countries reached 124%, a figure which includes the additional voluntary cut from Saudi Arabia, said one of the sources.
  • Compliance from non-OPEC members in the alliance reached 94%, the source added.
Published 22 Mar, 2021 10:07pm