Owning stock in a Russian company can be more than a risky investment. The Russian government marches to the beat of Vladimir Putin and the oligarchs that control the vast natural resources in the nation. Rosneft is one of the leading Russian oil companies run by Igor Sechin, one of President Putin’s closest allies.…
Small, independent oil producers are seeing the potential for growth over the next decade as major energy companies look to invest in renewables. As big companies are being forced to introduce greener policies, independent producers could profit from this change. Paul Blakeley, chief executive of Jadestone Energy told the Financial Times on Monday., “It…
Brazil’s National Energy Policy Council said Nov. 18 that imported raw materials can be used in the production of biodiesel. Previously, all biofuel sold at National Petroleum Agency auctions had to be manufactured from oils and fats of Brazilian origin. On Nov. 12, the National Petroleum Agency (ANP) published the notice for the 77th…
China, the global oil market’s lifeline this year, has stepped up purchases from exporters like Russia, the United States and Angola in recent weeks, while buyers elsewhere pare orders as coronavirus infections surge and fresh lockdowns are put in place. China, the world’s largest importer of crude, is the only major buyer expected to…
The UAE has always been committed to OPEC, energy minister Suhail al-Mazrouei said Nov. 19, amid reports the country is wavering on continued membership in the producer alliance. “As a reliable and long-standing member of OPEC, we have always been open and transparent in all our decisions and strategies in support of OPEC,” Mazrouei…
SINGAPORE/BEIJING- China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports. Private tank farm operators, refiners and traders pumped an extra 310-600 million barrels of oil into storage in China…
Moscow- The BRICS nations have maintained “intensive contacts” for the development of an Energy Research Cooperation Platform, said Russian President Vladimir Putin, adding that reports have already been prepared for the development of the fuel and energy sectors in the BRICS countries until 2040. Speaking during BRICS virtual summit on Tuesday, Putin said- “Intensive…
OPEC has suffered immensely under the pandemic and subsequent oil demand loss, and its job could now become significantly more challenging as members mull the pros of staying with the group against the con of performing the dutiful and painful task of curbing production. And the UAE is said to be doing just that.…
The State Oil Marketing Organization sent a note to customers on Nov. 17 with “test reports” of Basrah Light, Basrah Medium and Basrah Heavy. A senior official representative at SOMO confirmed the new crude specifications with Platts. The new grade, Basrah Medium, will have a specific gravity of around 27.9 API with a sulfur…
Venezuela sits atop the largest proven oil reserves in the world, clocking in at a whopping 300 billion barrels. But years of domestic economic mismanagement, corrupt international banking, and strict international sanctions have brought the Venezuelan economy–and oil industry–to its knees. Earlier this summer, the country’s once-mighty oil sector became the ultimate metaphor for…
English
Arabic
Chinese (Simplified)
Gujarati
Hindi
Marathi
Persian