Iran is reportedly gearing up to slash the price of its sanctioned crude oil stored offshore Singapore, in an attempt to recover the China market from Russia, reports The Straits Times quoting local industry sources.
During the first five months of the year Europe has overtaken Asia as the biggest buyer of US crude, having imported 213.1 million barrels, while Asia imported 191.1 million barrels, Bloomberg reported, citing Census Bureau data. This is the first time in six years that Europe has been a bigger buyer of U.S. crude than Asia.
Argentina's oil output reached its zenith in 20 years with 584,000 barrels per day (bpd) delivered in May of 2022, thanks mostly to unconventional developments, it was reported Tuesday.
Venezuela's oil output production fell 5% from May of 2022 to the previous month, according to the latest Organization of the Petroleum Exporting Countries (OPEC) released Tuesday.
Plunging demand for soy oil in China is expected to cut consumption of the oilseed in the world’s biggest user as lockdowns to prevent the spread of COVID have shuttered restaurants and canteens, according to traders and analysts. China is the world’s top consumer of edible oils, with millions of restaurants guzzling about half of the country’s roughly 17 million tons of soy oil, made from crushing soybeans.
Complying with President Jose Biden's administration sanctions on Russia, United States refiners imported some 1.3 million barrels per day (bpd) of Latin American crude and fuel oil, the highest level in seven months, according to US customs data.
Paraguay is making a statement as its stances on certain issues are being raised above circumstantial conditions that would advise against holding on no matter what to one's convictions.
Israel's Navitas Petroleum has been banned from all activities in Argentina for the next twenty years for involvement in the hydrocarbons industry in the Falklands/Malvinas zone without Argentine permission.
Exxon Mobil is investing heavily off the coast of Guyana expecting future production of some 1,2 million barrels per day of oil and gas by 2027. According to the company the fourth oil project production off Guyana will receive an investment of US$ 10 billion.
Borders & Southern Petroleum PLC said on Friday that it intends to conduct fundraising of up to US$1.8 million to appraise and develop its Darwin gas and condensate discovery in the Falkland Islands.