Explainer: When EU embargo comes, where will Russia sell its crude oil?

Explainer: When EU embargo comes, where will Russia sell its crude oil?

Models of oil barrels are seen in front of the displayed sign “stop”, EU and Russia flag colors in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register MOSCOW, Sept 23 (Reuters) – Russia has ramped up oil shipments to Asia since Europe imposed sweeping sanctions, but … Read more

Oil prices could spike in winter, Yellen says

Oil prices could spike in winter, Yellen says

US Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the US Treasury Department in Washington, US July 28, 2022. REUTERS/Jonathan Ernst/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 11 (Reuters) – US Treasury Secretary Janet Yellen on Sunday said Americans could experience a spike in … Read more

Exclusive: Scientists detect second ‘vast’ methane leak at Pemex oil field in Mexico

Exclusive: Scientists detect second ‘vast’ methane leak at Pemex oil field in Mexico

The logo of Mexican petroleum company Pemex is seen at a gas station in Mexico City August 28, 2014. REUTERS/Edgard Garrido Register now for FREE unlimited access to Reuters.com Register MEXICO CITY, Sept 2 (Reuters) – Satellites recorded another large methane leak at an offshore platform belonging to Mexico’s Pemex in August, according to exclusive … Read more

This decade’s oil boom is moving offshore – way offshore

This decade’s oil boom is moving offshore – way offshore

Aug 31 (Reuters) – Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast. Surging oil prices are encouraging the investments, along with Europe’s mounting energy demand as the Ukraine-Russia war drags … Read more

EXCLUSIVE Chinese defense firm has taken over lifting Venezuelan oil for debt offset -sources

EXCLUSIVE Chinese defense firm has taken over lifting Venezuelan oil for debt offset -sources

SINGAPORE/HOUSTON, Aug 26 (Reuters) – China has entrusted a defence-focussed state firm to ship millions of barrels of Venezuelan oil despite US sanctions, part of a deal to offset Caracas’ billions of dollars of debt to Beijing, according to three sources and tanker tracking data. China National Petroleum Corp (CNPC) stopped carrying Venezuelan oil in … Read more

Berkshire Hathaway posts massive $43.8 billion loss; operating results improve

Berkshire Hathaway posts massive .8 billion loss;  operating results improve

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, US, May 4, 2019. REUTERS/Scott Morgan//File Photo Register now for FREE unlimited access to Reuters.com Register Aug 6 (Reuters) – The slide in US stock prices … Read more

EXCLUSIVE Saudi Arabia doubles Q2 Russian fuel oil imports for power generation

EXCLUSIVE Saudi Arabia doubles Q2 Russian fuel oil imports for power generation

People walk near power plant number 10 at Saudi Electricity Company’s Central Operation Area, south of Riyadh, April 27, 2012. REUTERS Register now for FREE unlimited access to Reuters.com Register This includes content produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Kingdom burns Russian fuel to free up crude … Read more

For oil refiners, now is the summer of distillate content

For oil refiners, now is the summer of distillate content

A nighttime view of Marathon Petroleum’s Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, diesel fuel, and other refined petroleum products, in Carson, California, US, March 11, 2022. Picture taken with a drone. REUTERS/Bing Guan Register now for FREE unlimited access to Reuters.com Register April 21 (Reuters) – Refiners are planning … Read more