Tag Archives: Oil Price

Russian oil and gas revenues are poised to slump by 35% this month from a year earlier as the price of Russia’s crude has plunged and the local currency strengthened. Russia’s budget is expected to receive $6.63 billion (520 Russian billion rubles) from oil and gas in November, a decline …

Spot charter rates to hire an LNG tanker on the U.S. to Europe route have jumped to their highest level in nearly two years as soaring American exports tighten the Atlantic LNG vessels market. The spot charter rate for a tanker to ship LNG from the U.S. to Europe surged …

European benchmark natural gas prices slipped below the key threshold of 30 euros per megawatt-hour (MWh) on Monday, for the first time in a year and a half, amid strong LNG flows, milder temperatures, and negotiations about the end of the war in Ukraine. Dutch TTF Natural Gas Futures, the …

The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil. Many countries at COP30 have mobilized and supported a so-called “roadmap” to transition away from fossil fuels. …

The European Union is considering buying direct stakes in critical minerals projects in Australia as a way to secure supply, Maros Sefcovic, European Commissioner for Trade and Economic Security, said on Friday. Sefcovic, who is on a visit to Australia and meeting with top officials, discussed on Thursday EU-Australia cooperation …

U.S. sanctions on the global operations of Russian oil heavyweights Rosneft and Lukoil enter into effect today, with some 48 million barrels of Rosneft and Lukoil crude on tankers that will now have to look for new destinations. Bloomberg reported the figures, citing Kpler data and noting that the cargoes—mostly …

The United Arab Emirates is ready to invest as much as $50 billion in Canada’s industries, notably energy and artificial intelligence, following a visit by Prime Minister Mark Carney in Abu Dhabi. Reuters reported the news, citing a statement by the Emirati authorities that did not feature any details on …

China’s crude oil imports last month remained elevated, with purchases from some countries hitting all-time highs, according to customs data cited by Reuters. Imports from the UAE, for instance, rose from 2.05 tons a year ago to 3.82 million tons last month, while purchases from Kuwait went up from 970,000 …

Saudi Arabia’s crude oil exports hit a seven-month high in September as its production jumped to a 29-month high, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. Even as Saudi refinery runs rose by 38,000 barrels per day (bpd) in September from August, crude oil …

Pakistan is preparing to launch its most unconventional offshore campaign yet in the form of a purpose-built artificial island in the Arabian Sea that will act as a fixed platform for deep exploration work. The project, led by Pakistan Petroleum Ltd (PPL), aligns with Islamabad’s renewed push to reverse years …