Russia’s permanent representative to international organizations in Vienna, Mikhail Ulyanov called US’ stance against launch of Iran’s military satellite double standards and hypocrisy. Mikhail Ulyanov has denied US allegations against Iran in the field of launching its military satellite and accused the United States of hypocrisy and double standards “US …

Qatar’s sovereign wealth fund will remain “very active” through the coronavirus pandemic as the oil-rich Gulf investor searches for deals in the health and technology industries, the country’s finance minister told the Financial Times newspaper. Ali Shareef Al Emadi said the $320bn Qatar Investment Authority’s (QIA’s) “main focus” would be …

Following the 2018 unilateral withdrawal of the US from the 2015 Iran nuclear deal and the reimposition of sanctions against Iran, Washington has been issuing special waivers that permit some countries and companies to conduct business with Tehran. The US Department of State has extended a waiver for Iraq to …

Russia’s energy ministry expects that demand on the oil market will gradually restore in the second half of the year but before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse, Minister Alexander Novak said on Sunday. “The world …

Shipments of Russian crude oil to China increased more than 30 percent in March compared to a year earlier while Saudi imports of the commodity sank, Reuters reported, citing Chinese customs data. As crumbling demand for crude and lack of storage space have been wreaking havoc on the oil market, …

The pipe laying vessel Akademik Cherskiy, owned by Gazprom’s subsidiary (Gazprom Fleet LLC), changed its course again and is heading to the port of Nakhodka. Now the pipe-layer is passing the English Channel, according to data from the ship tracking websites Myshiptracking and Vesselfinder. The estimated time of the vessel’s …

The world economy will improve after the end of Corona crisis in East Asia, especially as the Republic of China which is the largest importer of crude oil in the world,” The Prime Minister’s Advisor for Economic Affairs, Mathehar Mohammad Salih revealed on Sunday. ” 80% Iraqi oil exports goes …

A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus. With demand for motor fuel plunging, refiners are cutting crude processing, and crude oil storage capacity in …

President Trump has spent significant political capital during the coronavirus pandemic tending to the wounds of shale oil producers, but refiners who transform the crude into fuels for consumers are suffering as well. Refineries, with no demand for their fuel, are already operating at about 30% lower capacity than what …

The global oil sector is reeling from a combination of negative oil prices, storage overload, demand destruction, and calls for a renewable energy revolution in the post-COVID-19 era. US and European oil market analysts appear to be pinning their hopes on a rebound in oil demand from Asia. Even international …