Brent Oil Futures

16/05/2022

Aramco, said on Sunday its Q1/22 net in­come surged 82% to $39.5 bil­lion.

Last week, it over­took Apple as the world’s most valu­able com­pany, with its mar­ket value ris­ing to $2.4 tril­lion.

Un­like in­de­pendent pro­duc­ers such as BP PLC, Shell and Exxon, which are tem­per­ing their pe­troleum in­vestments as they shift to re­new­able en­ergy, Aramco is spend­ing bil­lions of dol­lars to up its oil pro­duc­tion ca­pac­ity from 12 mil­lion bar­rels/day to 13 mil­lion by 2027 and plans to hike its gas out­put by more than 50% by 2030.

Aramco is also look­ing to de­velop op­por­tu­ni­ties in re­fin­ing and petro-chem­i­cals, known in the in­dus­try as the down­stream sec­tor, and in re­cent months bought a stake in a Pol­ish re­fin­ery and said it would in­vest in a 300,000-bar­rel/day re­fin­ing and petro­chem­i­cals complex in China.

DUBAI (Reuters) -State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is at par with Apple Inc as the world's most valuable company, reported a net income of $39.5 b...

25/04/2022

Russia's Rosneft has asked for roubles and full prepayments in tenders for crude, sources have told Reuters, as the country's top oil exporter aligns itself with President Vladimir Putin's push for roubles-only trade in natural gas.

While Rosneft left scope for payment in other currencies, it also reserved to right to refuse deals where prepayment is not offered in full.

Russia's Rosneft has asked for roubles and full prepayments in tenders for crude, sources have told Reuters, as the country's top oil exporter aligns itself with President Vladimir Putin's push for roubles-only trade in natural gas.

23/03/2022

Even if more than 80% of oil sales contracts are still denominated in dollars, more and more emerging countries are no longer hesitating to do deals in other currencies.

Even if most oil sales are done in dollars, more and more countries are doing deals in other currencies, as shown by India’s purchase of Russian...

23/03/2022

Energy Secretary Jennifer Granholm: There will be a significant increase in U.S. oil supply by the end of the year.

The U.S. oil and gas industry needs a "Marshall plan" to boost gas production, according to the chief executive of JP Morgan, Jamie Dimon

11/03/2022

Russia announced an export ban for more than 200 products after the economy was hit by sanctions over the invasion of Ukraine. The government said the measure, which covers items from medical equipment to railway cars, is “necessary to maintain stability on the Russian market." https://trib.al/CBJ3tpa

11/03/2022

Russia announced an export ban for more than 200 products after the economy was hit by sanctions over the invasion of Ukraine. It stopped short of curbing sales of energy and raw materials, the country’s biggest contribution to global trade.

10/03/2022

"There is no capacity in the world that could replace 7 millions barrels per day," OPEC Secretary General Mohammed Barkindo said.

There's no substitute for Russia's daily 7 million barrels, and OPEC has no sway over events driving the market, Secretary General Mohammed Barkindo said.

09/03/2022

“Oil at $240 per barrel would trigger a global recession and self-destruct the price level within just a few months, after which prices would fall sharply.”

Brent crude futures could surge to $240 a barrel this summer if Western countries continue to sanction Russian oil exports, according to industry consultants Rystad Energy.

08/03/2022

BREAKING: China is considering buying or increasing stakes in Russian energy and commodities companies, such as gas giant Gazprom.

08/03/2022

Analysts picked companies historically tied to oil prices that lagged the sector rally of the past month.

02/03/2022

A global hunt for spare barrels of crude is underway as sanctions slam Russia, the world's second largest exporter, following its invasion of Ukraine. But don't expect Saudi Arabia to step in to fill the gap, at least for now.

23/02/2022