Tag Archives: Business Recorder

China’s gasoline exports fell 35.7% in July from a year earlier, customs data showed on Sunday, as refiners lowered crude runs and held back from shipments due to weakening profit margins. Gasoline exports stood at 790,000 metric tons last month, or 5.77 million barrels per day, data from the General …

Oil prices edged lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 41 cents, or 0.5%, to $80.28 a barrel by 10:36 …

Saudi crude oil exports to China are set to fall in September to about 43 million barrels, several trade sources said on Monday, citing monthly allocations for term buyers. September exports from the world’s top exporter to China are estimated to slip by about 3 million barrels from a revised …

Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world’s largest oil producing region. Share markets also tumbled across Asia as U.S. recession worries sent …

Saudi Arabia, the world’s biggest oil exporter, may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners have weakened, refining sources said. The July official selling price (OSP) for flagship Arab Light …

An additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco’s Jafurah field, Energy Minister Prince Abdulaziz bin Salman said on Sunday. Reserves at Jafurah have reached 229 trillion cubic feet of gas and 75 billion barrels of condensates, Prince Abdulaziz said in …

Japan’s government and ruling party officials are considering extending fuel subsidies beyond May, sources told Reuters on Friday, as a feeble economy and political pressure drive more fiscal spending. The economy unexpectedly slipped into a recession at the end of last year and lost its title as the world’s third-biggest …

Novatek, Russia’s largest producer of liquefied natural gas (LNG), will start loading first cargo from the Arctic LNG 2 plant no earlier than March, Russia’s Kommersant daily reported on Thursday, citing anonymous sources. Russian Deputy Prime Minister Alexander Novak has earlier said the first shipment would happen in February, but, …

Half of Russia’s oil and petroleum exports in 2023 will have gone to China while India’s share has risen in two years to 40%, Russia’s state news agencies cited Deputy Prime Minister Alexander Novak as saying in remarks published on Wednesday. “The main partners in the current situation are China, …

OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional cut and smaller curbs by others, two delegates told Reuters ahead of a virtual OPEC+ meeting on Thursday. Saudi …