Tag Archives: Platts

LNG is playing an increasingly important role in China'.s energy security.

OPEC and its partners agreed in late June to raise output by 1 million b d.

The July program takes Iran exports so far this year to 3.71 million mt. according to shipping fixtures.

Oil prices rose on Friday. supported by signs that US sanctions on Iran are already reducing global crude supply.

Sakhalin Energy is a joint venture between Gazprom (50%). Shell (27.5%) and Japanese trading houses Mitsui (12.5%) and Mitsubishi (10%).

Earlier this year. the US unveiled sanctions aimed at the illegal trade of petroleum products. coal and other goods with North Korea.

The project has seen strong opposition from the European Commission as increasing EU'.s dependence on Russian gas and undermining Ukrainian transit.

Western sanctions. first introduced in 2014 over Russia'.s apparent role in the conflict in Ukraine and later expanded.

Market participants said demand was strong in the PG region due to the annual Islamic pilgrimage to Mecca.

Final oil trade data for July will be released later this month by state-run Korea National Oil Corp.