It was the nightmare scenario dreaded by oil markets for decades: a direct strike right at the heart of Saudi Arabia’s energy production network. But when it finally came last month, crude traders almost immediately lost interest.
Russia’s Rosneft has set the euro as the default currency for all its new export contracts including for crude oil, oil products, petrochemicals and liquefied petroleum gas, tender documents showed.
- Russia's Rosneft seeks euros for all new export deals -documents (Reuters: Oct 3, 2019 at 11:55 AM)
Saudi Arabia, the world’s biggest crude exporter, raised all pricing for November oil sales to Asia as refining margins rose and the country’s state oil producer pulled out the stops to maintain supply after aerial attacks briefly knocked out half its output last month.
Oil slipped further below $58 a barrel on Thursday, pressured by concerns about global economic growth, oil demand and signs of excess supply despite OPEC-led cuts.
- Oil slips further below $58 as economic gloom weighs (Reuters: Oct 3, 2019 at 11:20 AM)
…access has been cut across much of Iraq, according to the internet observatory NetBlocks. Three other cities are under curfew, Reuters reported. Oil -rich Iraq is regularly roiled by protests demanding…
…Saudi Arabia said it has fully restored oil production to almost 10m barrels a day following the attacks on two of its key facilities last month, weighing on crude prices and sending them to the lowest…
Russia’s largest oil company Rosneft has set the euro as the default currency for all new exports of crude oil and refined products, as the state-controlled giant looks to switch as many sales as possible from U.S. dollars to euros in order to avoid further U.S. sanctions against it.
Abu Dhabi’s government-owned energy giant has kicked off the potential sale of a stake in its natural gas pipelines, in a deal that could fetch about $5 billion, people with knowledge of the matter said.
Venezuela, the biggest exporter of oil in South America, Thursday announced an ambitious goal of doubling production by 2020 amid an economic crisis and US sanctions.
Since discovery of natural gas in its exclusive economic zone Israel has been dreaming of exports, riches and political influence. Massive political capital has been expended in this direction, but so far without results, apart from small exports to Jordan, and possibly Egypt, but not to global markets.