Tag: oil

• Wednesday, April 12th 2023 - 11:00 UTC

  IEA insists increasing fossil fuel production contradicts goals to stop global warming

  

  Fatih Birol, head of the powerful International Energy Agency, (IEA),, the Paris-based organization led by the energy ministers of mostly rich countries, has warned that companies that increase fossil fuel production are contradicting goals to stop the planet warming.

• Wednesday, December 28th 2022 - 10:00 UTC

  Putin bans sale of oil to countries that abide the US$ 60 cap on Russian crude

  

  President Vladimir Putin announced Russia was banning the supply of Russian oil and oil products to countries that impose a price cap, allowing deliveries to those nations only on the basis of a special permission from the Kremlin leader.

• Wednesday, November 9th 2022 - 09:44 UTC

  Extension granted to companies searching for oil off Argentina's shores

  

  Argentina's Energy Secretariat extended until 2024 the oil offshore exploration permits of ExxonMobil and Qatar Petroleum (QP) to operate in the Argentine Sea, it was reported earlier this week in the Official Gazette.

• Thursday, October 13th 2022 - 21:01 UTC

  Brazil's oil and gas output reaches 3.967 mn bpds

  

  Brazil's oil and natural gas production in the month of August of 2022 reached 3.967 million barrels per day (bpd), the National Agency of Petroleum, Natural Gas and Biofuels (ANP) reported Thursday in the Dynamic Panel of Oil and Natural Gas Production.

• Tuesday, September 20th 2022 - 10:19 UTC

  Iran trying to recover the Chinese oil market share which Russia has taken over

  

  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.

• Saturday, July 16th 2022 - 10:06 UTC

  Europe overtakes Asia as first buyer of US oil in five months of 2022

  

  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.

• Wednesday, June 22nd 2022 - 20:11 UTC

  Unconventional production boosts oil and gas output in Argentina

  

  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.

• Tuesday, June 14th 2022 - 21:56 UTC

  Venezuela further below oil output target

  

  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.

• Saturday, May 28th 2022 - 10:10 UTC

  China forecasted to reduce soy oil consumption because of the lockdowns

  

  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.

• Saturday, May 21st 2022 - 23:03 UTC

  US refineries purchasing more oil and fuel from Mexico, Colombia and Argentina

  

  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.