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Iraq restarts exports of Kirkuk crude oil through Ceyhan pipeline

16 November 2018 - 16:31
The federal government of Iraq has restarted exports of Kirkuk crude oil through the Kurdistan-Turkey pipeline Friday, paving the way for a rise in loadings from OPEC's second-largest producer.

Norway's Frontline says worst is over for tanker market

16 November 2018 - 16:30
Norwegian independent tanker operator Frontline said Friday the worst for the tanker sector was over, adding it was well positioned for any rebound in the market.

Colombia needs to double oil reserves: Duque

16 November 2018 - 14:30
Colombia must discover about 2bn bls of new crude reserves to remain self-sufficient, said Colombian President Ivan Duque, with unconventional resources providing the best opportunities.

IEA: Shale Oil Not Here to Stay

15 November 2018 - 13:19
US shale may be the darling of the oil industry now, but the boom is not going to last, according to the International Energy Agency.

Mahathir Discounts OPEC Clout

14 November 2018 - 14:05
The Organization of the Petroleum Exporting Countries hasn't been effective in stabilizing oil prices, which have been more dependent on US shale production than the actions of the intergovernmental group, said Malaysian Prime Minister Mahathir Mohammad.

OPEC Trying to Maintain Oil Market Balance, Not Please Donald Trump

14 November 2018 - 13:40
OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the organization on Twitter not to cut crude oil production.

Brent, WTI Prices Jump 2%

13 November 2018 - 23:12
Oil prices jumped more than 1.5 % on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019.

Japan Energy Company May Resume Iranian Oil Import in December

13 November 2018 - 22:41
JXTG Holdings, Japan’s biggest oil refinery operator, is considering whether to resume Iranian oil purchases after Japan was granted a waiver from US sanctions targeting Iran, Senior Vice President Yasushi Onoda said.

Opec JMMC committee mulls cuts on demand concerns

11 November 2018 - 18:36
Rising global oil supplies, a weaker outlook for global oil demand growth, and a recent $15/bl decline in oil prices have combined to make a compelling argument for the Opec and non-Opec Joint Ministerial Monitoring Committee (JMMC) to recommend a return to production restraints in 2019.

Russian Companies Insist on Euro Payment in Oil Export Contracts

11 November 2018 - 17:04
Russian energy majors are putting pressure on western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new US sanctions.
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