Tag Archives: Reuters International News Agency

India wants to diversify its oil imports, including the resumption of supplies from Iran and Venezuela, after Joseph Biden becomes president of the United States, Oil Minister Dharmendra Pradhan said on Wednesday. “As a buyer I would like to have more buying places. I should have more destinations to go …

Russia’s largest oil producing company Rosneft plans to sell some old underperforming oil fields, mostly to local companies, at least two Moscow-based brokerages said on Tuesday following a conference call with Rosneft’s management. Sova Capital brokerage said in a note to its clients that Rosneft plans to sell some of …

Crude oil prices tumbled on Monday, as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November. January Brent crude futures, which will expire later …

Russia’s Nord Stream 2 said on Saturday it planned to resume pipe-laying work on a 2.6 kilometre (1.62 mile) stretch of the stalled Moscow-backed gas pipeline to Europe in Germany’s Exclusive Economic Zone. The 1,230 km pipeline under the Baltic Sea, which Moscow hopes will boost the amount of gas …

China has accelerated imports of crude oil, propane and liquefied natural gas (LNG) from the United States since July, but total energy product purchases through October remain far short of targets for 2020 set out in the Phase 1 trade deal with Washington, reported Reuters. Over the first 10 months …

China’s greenhouse gas emissions will increase in 2020 compared to 2019 as they have rebounded after the COVID-19 outbreak, the head of the International Energy Agency said on Wednesday. “As of today, Chinese emissions this year, 2020, will be higher than in 2019, they rebounded,” Fatih Birol told a digital …

Iraq’s Oil Marketing Company (SOMO) has revised the price mechanism used to compensate buyers for fluctuations in the density of its crude exports, starting with shipments in 2021, according to a Nov. 23 notice to clients reviewed by Reuters The announcement follows SOMO’s plan to launch a third crude oil …

Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, though prices were contained by renewed lockdowns in several countries. Sentiment was also bolstered by hopes that OPEC, Russia and other producers, a group known as OPEC+, will keep crude …

Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil this year. Saudi Arabia, which was China’s top supplier last year, has exported …

China’s biggest offshore oil and gas producer CNOOC Group will add 1.62 million cubic metres of storage capacity for liquefied natural gas (LNG) at its Binhai terminal in the eastern province of Jiangsu. The expansion will consist of six tanks with storage capacity of 270,000 cubic metres each and construction …