Overview of Iran's major gas fields and oil infrastructure
After a wave anti-government protests, the US is heading to Iran and renewing warnings against Tehran restarting its nuclear programme or killing protesters. Tehran accuses Washington of fomenting turmoil. A major increase in prices could endanger key energy infrastructure, and add uncertainty to the oil and gas market. Here are some facts about Iran's energy sector…
Trafigura Makes First Venezuelan Crude Sale Under Supply Deal
Trading house Trafigura has sold its first cargo of Venezuelan crude oil as part of a 50-million-barrel supply deal between Caracas and Washington, industry sources said on Thursday, with Spanish refiner Repsol taking the shipment.The cargo is expected to be delivered to Repsol in Spain in February, two of the sources said.Trafigura did not immediately respond to a request for comment.
Venezuelan Oil Exports Progress Slowly Under US Supply Deal
Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and documents from state-run PDVSA showed, with shipments accelerating after the U.S. eased its blockade but not enough for PDVSA to fully reverse output cuts.Following the U.S. capture of President Nicolas Maduro in early January…
Urals Freight Rates to India Rise Due to Bad Weather, War Risks
Freight rates for tankers to ship Urals crude from Russia’s western ports to India have risen this month, as bad weather made fewer vessels available, disrupted loading and unloading and the cost of insuring for war risks increased, industry sources told Reuters on Friday.Drones struck two oil tankers in the Black Sea on Tuesday, including one chartered by U.S.
Brazil's Soy Exports will Hit Record High for January, Grain Exporting Group Says
The grains exporting group Anec predicted on Tuesday that Brazilian soybean exports would reach nearly four million tonnes in January, a new record. Anec reported that traders in Brazil will export an estimated 3,73 million tons of oilseeds this month. This is about 1.3 millions tons more than was estimated last week. Farmers have only just started harvesting the 2026 crop.
US Supreme Court rejects Citigroup's appeal in lawsuit against Mexican oil company fraud
The U.S. Supreme Court declined to hear Citigroup’s appeal on Monday, despite the fact that the lawsuit accused the?bank for orchestrating a massive fraud against the Mexican oil and gas company Oceanografia. This lawsuit claimed the?bank caused more than $1 billion in losses. The Justices rejected Citigroup's appeal against a…
Venture Global lowers its profit forecast for 2025 due to volatile LNG prices and transport problems
Venture Global, an LNG company, cut its "full-year core profit forecast" for 2025 on Monday. This was lower than Wall Street expectations, due to price volatility and shipping restrictions. Venture Global stated that changes in Henry Hub prices and international LNG were affecting volume and pricing, as well as the limited availability of vessels in the Atlantic basin.
What is happening in Yemen and why are Saudi Arabian and UAE involved?
The dispute over the control of southern Yemen has brought former Gulf allies Saudi Arabia, the United Arab Emirates and the Iran-backed Houthis into conflict and has fractured the coalition. Last month, the separatist Southern Transitional Council - backed by UAE - seized large swathes in southern and eastern Yemen. However, it was largely retaken from them by Saudi-backed forces.
Chevron Resumes Exports of Venezuelan Oil to US fter Four-Day Pause
An oil tanker chartered by U.S. Chevron carrying some 300,000 barrels of Venezuelan heavy crude bound for the U.S. Gulf Coast departed on Monday from the OPEC country's waters, shipping data showed, after a four-day pause in the company's exports of Venezuelan oil.Chevron is the only company currently authorized by Washington to export Venezuelan crude amid an oil embargo that U.S.
Russian Oil Exporters Struggle to Stay Afloat as Discounts Deepen
Discounts on Russian oil at export terminals have once again approached historic highs, putting pressure on exporters' trade profits amid weak global oil prices, Reuters calculations show.Western sanctions over Russia's military action in Ukraine have forced its oil companies to sell crude at steep discounts, reaching $20 to $30…
The LNG tanker Kunpeng loads cargo at a Russian plant in violation of sanctions
Ship-tracking data showed that a liquefied gas tanker loaded a cargo at Russia's Portovaya?LNG plant, which is under Western sanctions due to Moscow's conflict in Ukraine. According to data provided by analytics firm Kpler, the Kunpeng arrived in Portovaya's LNG terminal on December 18, was unloaded on that day and left with a cargo of natural gas on December 21.
Japanese companies to gain more control over LNG joint ventures with state-backed groups
The industry ministry announced on Tuesday that Japanese companies would gain more control over JOGMEC-backed liquefied natural gas joint ventures and recover their investments faster as part of measures aimed to strengthen the nation's security in energy. The Ministry of Economy, Trade and Industry told a committee of resource and fuel policy it would encourage Japanese companies to invest in LNG.
VEGOILS-Palm oil closes lower tracking rival soyoil
Malaysian palm futures closed on Monday due to the weakness of rival Dalian and Chicago soybean oil prices, which was a result of concerns over Chinese purchases of U.S. soy beans. The benchmark contract for palm oil delivery in February on the Bursa Derivatives Exchange dropped 58 ringgit or 1.4% to 4,094 Ringgit ($996.11) per metric ton. The Farm Trade is a Kuala Lumpur based consultancy and trading firm.
VEGOILS-Palm oil tracks rival soyoil lower
Malaysian palm futures declined on Monday due to the weakness of rival Dalian and Chicago soybean oil prices, which was a result of concerns over China's slow purchase of U.S. soya beans. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell by 57 ringgit or 1.37% to 4,095 Ringgit ($996.84).
Hungarian energy company MVM is ready to phase out Russian Gas if necessary
Hungary's MVM state-owned group can still supply gas to the country even if Russian imports are stopped, but prices will probably rise, according to its chief executive. As part of a move to reduce the EU's energy dependence on Moscow over decades, the European Union decided on Wednesday to stop importing Russian gas by 2027. Short-term pipeline gas contracts will be affected as early as June 2026.
Palm extends its losses due to weaker oil rivals, and higher stockpile expectation
Malaysian palm futures declined for a second day on Thursday. They were pressured by lower edible oils on the Dalian and Chicago market and rising expectations. At closing, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell 47 ringgit or 1.13% to 4,106 Ringgit ($999.03). Weaker rival oilseeds pushed down crude palm oil futures today.
Palm extends its losses due to weaker oil rivals, and higher stockpile expectation
Malaysian palm futures declined for a second day on Thursday. They were pressured by lower edible oils on the Dalian and Chicago market and rising expectations. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for February delivery had fallen 51 ringgit or 1.23% to 4,102 Ringgit ($996.84). Weaker rival oilseeds pushed down crude palm oil futures today.
Turkey Cuts Russian Urals Oil Imports, Turns to Kazakh, Iraqi Supply
Turkey sharply reduced its imports of Russia's flagship Urals crude oil in November, shipping data from energy consultancy Kpler showed, as Western sanctions on Russian energy suppliers tightened and Turkish refineries shifted to alternative grades.Shipments of Urals to Turkey fell by 100,000 barrels per day from October levels…
The US SEC settles with the former CFO of smart window maker View
Former chief financial officer, View, settled a lawsuit filed by the Securities and Exchange Commission in the United States. The suit claimed that he had negligently allowed View to understate costs of replacing "smart" windows with defective ones. According to a filing made Wednesday in San Jose federal court, lawyers for Vidul Prakash…
What might Maduro have to offer Trump? What could Maduro offer Trump in potential talks?
Venezuelan President Nicolas Maduro is in a position to use crude oil cargoes that Venezuela sells mainly to China as a bargaining tool if Venezuela decides to negotiate with the United States. The Trump administration has increased its military presence in Caribbean and has stated that it is willing to talk to Maduro. His government…