More than a dozen of LNG tankers are currently parked around Singapore – one of the biggest trading hubs for fuel in the world –
Category: Oil
Rosneft’s Boss Blames OPEC and the U.S. for Cheap Oil
The boss of the Russian state-run oil company, Rosneft, Igor Sechin, criticized OPEC’s decision not to cut production on the sidelines of the International Petroleum
IEA: U.S. to Remain Top Source of Oil Supply Growth by 2020
According to the Medium Term Oil Market report of the International Energy Agency (IEA), the United States will remain the world’s most important source of
Venezuela Stops Crude Imports from Algeria amidst Fears of Bankruptcy
Venezuela’s state-operated company PDVSA has decided to halt the imports of Algerian light crude, which is normally used to be blended with Venezuela’s own extra-heavy
Rosneft to Get Financing from Switzerland
Rosneft, Russia’s oil giant, is raising money from the Swiss trader Trafigura only a few days before its deadline to repay a $7 billion debt.
Iran’s Predicament in Attracting Foreign Investors
Iran is seeking to attract attention and interest of foreign investors deterred by both West-imposed sanctions and cheap oil as the country’s President is trying
Rosneft Will Not Resume Drilling in Kara Sea
Russian oil giant, Rosneft, has informed that it will not be able to resume drilling in the Kara Sea in 2015 due to the consequences
China’s Commodity Data for 2014 Reveal Important Trends
China’s commodity trade statistics for last year confirms that the country has switched to higher import volumes that are dependent on lower commodity prices with
Saudi Arabia: New King, Old Oil Policy
Saudi Arabia’s new king Salman is expected to keep oil production unchanged in order to discourage competitors and defend market share. Despite the expectations of
Oman Criticizes OPEC for Keeping Oil Production Unchanged
Oman’s Oil Minister, Mohammad bin Hamad al-Rumhy, recently (21 January) censured OPEC’s decision not to cut oil production to support the prices saying that this