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The tentative reopening in China and strong Asian refining margins could prompt Saudi Arabia to raise the official selling prices of all the crude grades it will be selling in July in its key market, Asia, six refining sources told Reuters in a survey on Monday. Saudi Aramco, the oil …

Russia will find other importers for its oil, Russian Permanent Representative to international organizations in Vienna Mikhail Ulyanov said, commenting on the sixth package of EU sanctions against Russia. “As she rightly said yesterday, #Russia will find other importers. Noteworthy that now she contradicts her own yesterday’s statement. Very quick …

Oil prices extended their rally on Tuesday after the EU agreed to ban most of Russia’s oil imports by the end of the year, raising concerns about a tighter market amid higher demand expectations in the summer. Brent, the benchmark for two thirds of the world’s oil, was up 1.43 …

Long before the re-emergence of the ‘Pan-Arab’ ideology now increasingly evident among several leading Middle Eastern countries, Qatar had sought to go its own way, neither aligning fully with the U.S.-led power bloc on the one side nor the China/Russia-lead bloc on the other. This is in part a reflection …

Iran’s income from the export of oil, gas, petroleum and petrochemical products has risen 66 percent during the first two months of the current Iranian calendar year (March 21-May 21), as compared to the same period of time in the past year, the director-general of Oil Ministry’s Public Relations Department …

Russian oil behemoth Rosneft PJSC promised record dividends on the back of soaring prices, but some foreign investors may struggle to access the payout. The board recommended 23.63 rubles a share for the second half of 2021, bringing full-year dividends to an all-time high of 41.66 rubles. That follows an …

Denmark could be the next country cut off from Russian natural gas as its biggest utility is refusing to cave in and make payments in rubles. Orsted A/S is preparing for Gazprom PJSC to cut off one of Denmark’s biggest sources of the fuel, the firm said in a statement …

European diplomats were pushing for a deal on stopping Russian oil imports on Monday, with leaders poised to back down to Hungary in a stand-off over sanctions when they assemble for a two-day summit on the fallout of the war in Ukraine. A proposal circulated among European Union diplomats would …

Russia’s Gazprom has resumed shipping natural gas to Turkey after completing planned maintenance on the undersea Blue Stream gas pipeline, the Interfax news agency reported on Monday.

Russia is constructing a way to pay its Eurobond debt that would sidestep the western financial infrastructure, now mostly off-limits because of the Ukraine war, Finance Minister Anton Siluanov was cited as saying in an interview with Vedomosti. Foreign investors can open accounts in Russian banks in rubles and hard …