International

A subsidiary of China National Petroleum Corp (CNPC), Daqing Drilling Engineering Co, has been awarded the contract for the development of the Rumaila oilfield in Iraq. The Rumaila oilfield in southern Iraq, near to the Kuwaiti border, will see Daqing drill wells with two rigs as part of a $194 …

MetalMiner actively posts on a variety of metals and market developments. However, we prefer to discuss topics that our clients bring to us, especially those that keep buyers awake at night. One such topic that has been recurring over recent months is the anxiety surrounding the LME aluminum quotation. Specifically, …

The United Arab Emirates and Iraq have started regaining their share in India’s oil import basket as the world’s largest oil exporters Saudi Arabia and Russia plan to keep their production low to boost the prices. Russia, however, continues to hold 42% of the share. While the UAE increased its …

Russia’s crude oil and refined products exports remained steady at some 7.3 million barrels per day (bpd) in July, while higher oil prices and narrower price differentials for Russian crude pushed Moscow’s revenues higher compared to June, according to estimates by the International Energy Agency (IEA). Russian crude oil loadings …

Oil supply from the OPEC+ group dipped in July by 1.2 million barrels per day (bpd) to 50.7 million bpd, the lowest level in nearly two years as Saudi Arabia began its unilateral production cut of 1 million bpd, the International Energy Agency (IEA) said on Friday. The alliance’s oil …

China on Tuesday released its first national guideline for the development of industrial standards for the production, storage, transport and use of hydrogen energy. According to the World Economic Forum’s latest white paper, China is the largest producer and consumer of hydrogen globally, but less than 0.1 percent of the …

It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. And perhaps no subject in that world involves so many different intricate moving parts as the extraordinary relationship between the Federal Government of Iraq (FGI), based in Baghdad, and the …

A surge in U.S. crude oil exports is changing the face of the global market and how oil is priced, with the price of U.S. crude gaining weight against other benchmarks. This is what traders and analysts have observed this year, as Europe became a major destination for U.S. oil …

Wheat extended gains after Ukraine used sea drones to cripple a Russian oil tanker and a naval vessel, threatening a key export route for Russian commodities through the Black Sea. Top wheat shipper Russia moves most of its grain through the waterway and is in the midst of a second …

The OPEC+ ministerial panel met on Friday and decided to keep its current oil production policies unchanged. The policies state that there will be no change in current output and production cuts will stay in place. The OPEC+’s decision came after Saudi Arabia decided to extend its voluntary production cut …