Search result for Crude
In February, wholesale inflation slows down to 3.85%.
Inflation based on wholesale prices went down for the ninth straight month in February, coming in at 3.85%. This was because the prices of made goods, fuel, and electricity all went down. Inflation based on the wholesale price index (WPI) was 4.73 percent in January of this year and 13.43 percent...
Russia now ranks among India's most important crude oil suppliers to the Hardeep Puri
The Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, made the statement on Friday as Prime Minister Narendra Modi and Russian President Vladimir Putin discussed their countries' bilateral ties and energy cooperation over the phone.
Puri, speaking at a press conferen...
Mega-deals totalling more than $3.4 billion are won by ADNOC Drilling
ADNOC Offshore of the UAE has given ADNOC Drilling two contracts for more than $3.4 billion (AED 12.6 billion) to increase offshore drilling operations and hire eight jack-up rigs to increase production capacity.
These contracts are worth a combined $1.5 billion (AED 5.6 billion) and $1...
Does India break the oil embargo imposed by the EU?
India's refinery trade creates various issues, including the low-cost importation of Russian crude and the high-priced exportation of the finished product to the US and EU. The fact check by DW has a few solutions.
Since Russia invaded Ukraine on February 24, Indian refineries have ...
According to Vortexa, a European ban on Russian crude risks Moscow utilising natural gas as a "power instrument" in its arsenal
Despite its reliance on Russian oil, Europe is under pressure to prohibit imports, but doing so would raise the very real possibility of Moscow retaliating with a halt in natural gas exports, perhaps plunging the entire area into recession, according to energy market intelligence firm Vortexa.
BHP's oil and gas output fell 5% year on year between January and March
BHP reported a 5% drop in oil and gas production for the January-March quarter compared to the previous year, owing to lower seasonal gas demand from its involvement in the Gippsland basin joint venture (GBJV) offshore Victoria and lower well productivity at its Atlantis oil field in the US Gulf ...
As a Russian supply shortage looms, oil prices soar to multi-year highs
Oil prices soared on Friday, reaching multi-year highs as Russia's invasion of Ukraine progressed and oil importers avoided supplies from the world's second-largest crude supplier. Crude prices have seen their biggest weekly rise since the middle of 2020, with the Brent benchmark up 21% a...
How much oil does the United States receive from Russia?
Concerns about interruptions in global supply, of which 8% comes from Russian exports, have pushed up oil prices, prompting traders to seek alternate sources in an already tight market.
Although the United States imports Russian oil, it is not overly reliant on the nation for its suppli...
Thailand’s Navy Cleaning Up Offshore Oil Spill
On Wednesday, Thailand’s navy worked to clean up 128 tons of crude oil spills that had leaked from an oil pipeline in the Gulf of Thailand.
The director-general at the Ministry of Natural Resources and Environment, Attapol Charoenchansa, of the Pollution Control Department said th...
Oil Prices Surge in the US With Decline in Crude Inventories
On Wednesday, a decline in US inventories led to a sharp increase in oil prices with an already boosting demand.
Brent Crude saw an increase of 16 cents, or 0.2 percent, at 79.10 dollars per barrel. West Texas Intermediate crude rose by 5 cents, or 0.07 percent, to 76.03 dollars per bar...
Crude Oil spills, on the coast in Southern California
Highlights
- Crude oil has spilled from a pipeline into the waters in Southern California
- The oil has dispersed due to the storm
Crude oil is being spilled from a pipeline into the waters of Southern California. This pipeline has ...
Saudi Arabia slashes fuel prices in Asia
Highlights
• Saudi Arabia is world’s top exporter of crude oil
• The cut in prices is because of the pandemic situation
...
US SOLD 2 MILLION BARRELS OF IRANIAN CRUDE OIL THAT WAS SEIZED
Highlights
• This sale of Iranian crude oil was revealed after a report was released by the US Energy Information Agency
• Iranian paramilitary Revolutionary Guard, was identified as a terrorist organizations by the administration of former US President Donald Trump<...
JAPAN’S CPI DROPPED 0.1% IN APRIL OVER MOBILE PHONE FEES
Highlights –
- Japan’s CPI dropped 0.1% in April over mobile phone fees.
- Bank of Japan struggled to accelerate inflation toward its elusive 2 percent goal.
- In April, mobile phone fees tumbled 26.5 percent from a year earlier. ...
JAPAN’S TRAVEL BALANCE FELL BY 89.2% IN FY 2020
Highlights –
- Japan’s travel balance fell by 89.2% in FY 2020.
- Japan’s travel surplus in 2020 fell 3.8% to 18.20 trillion yen from a year earlier.
- The service trade deficit stood at 3.73 trillion yen.
- Japan poste...
INDIA MAY LIFT REGULAR SAUDI OIL VOLUMES IN JUNE
HIGHLIGHTS
- India is offering to lift regular Saudi oil volumes in JUNE 2021.
- Some orders have been placed by Indian State refiners.
After reducing purchases this month, Indian state refiners have placed orders for regular supplies fr...
JAPAN’S CPI FELL BY 0.1% IN MARCH OVER LOWER ENERGY PRICES
Highlights –
- Japan’s CPI fell by 0.1% in March over lower energy prices.
- The core CPI in February was down 0.4 percent.
- In the reporting month, electricity prices fell by 4.8 percent.
- Gasoline prices in March turned p...
INDIA'S STATE-RUN OFFICIALS SET TO BUY IRANIAN CRUDE OIL AS SOON AS US SANCTIONS ARE LIFTED
Highlights
• According to a government of India official, country’s state-run oil refiners are ready to purchase Iranian crude oil as soon as the US sanctions are eased
• The US and Iran have started indirect talks in Vienna to bring two countries back into ful...
S. KOREA’S CONSUMER PRICES GREW IN MARCH BY 1.5 PERCENT
Highlights –
- S. Korea’s consumer prices grew in March by 1.5 percent.
- The country’s core inflation rose 0.6 percent on-year in March.
- Prices of agricultural, livestock and fisheries products advanced 13.7 percent in March....
S. KOREA’S EXPORTS IN MARCH ROSE 16.6 PERCENT TO $53.8 BILLION
Highlights –
- S. Korea’s exports in March rose 16.6 percent to $53.8 billion.
- Rising demand for chips and autos led to gains in exports.
- The country’s imports also rose 18.8 percent to $4.17 billion.
- Exports of a...