(MURMANSK, RUSSIA) – Russia has received its first seaborne shipment of AI-92 petrol from Morocco, according to two industry sources who spoke to Reuters on Friday. A Panama flagged tanker loaded the fuel at the Moroccan port of Tangier in mid July and is now discharging the cargo at theContinue Reading
(KYIV, UKRAINE) – Ukrainian iron ore producer Ferrexpo has suspended exports of iron ore pellets by sea after Russian attacks on ports in the Greater Odesa region disrupted shipping in the Black Sea, increasing pressure on one of Ukraine’s key export industries and creating new financial risks for the company.Continue Reading
(LONDON, UK) – Oil prices rose sharply on global markets after military action involving the United States and Saudi Arabia in Iraq and reports that ballistic missiles launched by Iran towards United States forces in the Middle East were intercepted. Concerns over regional security and tighter crude supplies also supportedContinue Reading
(KYIV, UKRAINE) – A state auction for a 20 year oil and gas development licence in western Ukraine has failed after no bidders registered for the permit, which carried a starting price of 1.1 billion hryvnias. The result leaves a significant exploration block covering parts of the Lviv and IvanoContinue Reading
(BRUSSELS) – Russia’s military industrial complex will depend on imports of strategic minerals until at least 2035, leaving its defence production open to external economic pressure, according to a new report by the Economic Security Council of Ukraine. The study finds that despite holding the world’s largest reserves of mineralContinue Reading
(NOVOROSSIYSK, RUSSIA) – The Caspian Pipeline Consortium has restarted oil loading operations at its marine terminal in the port of Novorossiysk. The move allows Kazakh oil producers to resume full export flows through the Black Sea route. Kazakhstan’s Energy Ministry confirmed on Monday that two tankers, Seamajesty and Milos, wereContinue Reading
(PERSIAN GULF) – Global oil transport patterns are shifting rapidly, reducing the market power of Russian crude exports. New bypass routes around the Strait of Hormuz are being expanded, adding structural pressure to the price of Russia’s Urals blend. Daily volumes of oil moved through alternative corridors have climbed fromContinue Reading
(TEHRAN, IRAN) – Iran has sold crude oil worth $18 billion since the beginning of its conflict with the United States, securing more than 60 percent of the annual budgeted oil revenue even during the most intense period of hostilities, Oil Minister Mohsen Paknejad said. Paknejad told Al Jazeera thatContinue Reading
(MOSCOW, RUSSIA) – Russia will extend its ban on petrol exports until the end of the year as the country grapples with a fuel crisis triggered by damage to several refineries from drone strikes, Deputy Prime Minister Alexander Novak said. The decision, taken at a meeting of the relevant governmentContinue Reading
(ASTANA, KAZAKHSTAN) – Kazakhstan’s oil production has dropped sharply after the shutdown of a Black Sea terminal that serves as the main export outlet for Kazakh crude and that recently came under drone attack. Two industry sources told Reuters on Thursday that the heaviest fall was recorded at the TengizContinue Reading
