OPEC+ is opening the oil taps again, while Donald Trump’s tariffs target Russian crude buyers. OPEC+, which includes Saudi Arabia and Russia, has agreed to another large production hike in September. That’s despite a warning by the International Energy Agency, the extra barrels could tip the market into oversupply later this year. US President Donald … Read more
Norway oil fund sells out of a fifth of Israeli firms amid fierce criticism Financial Times Norway’s $1.9 Trillion Wealth Fund Sells Off Israeli Assets Bloomberg.com Norway wealth fund terminates Israel asset management contracts Reuters World’s largest wealth fund rolls back Israeli investments over West Bank, Gaza concerns The Times of Israel Orsted shares plunge 30% as global trade … Read more
Canada announced on Aug. 8 that it will join allies in lowering the price cap on Russian oil in response to Russia’s ongoing war in Ukraine. The news follows the EU statement on implementing a new dynamic ceiling on Russian oil prices beginning Sept. 3 as part of its 18th sanctions package against Moscow. The … Read more
Estonia redirects maritime traffic to prevent future incidents after Russia’s detention of the Green Admire oil tanker. Russia has detained a Greek oil tanker sailing under the Liberian flag as it left the Estonian port of Sillamae on a previously agreed route through Russian waters, the Estonian Ministry of Foreign Affairs says. In a statement … Read more
US airstrikes on Yemen’s Houthi rebels killed 33 people and wounded 80 others, Houthi-run media said early on Friday, which if confirmed would mark one of the deadliest days of a campaign launched under US President Trump that has involved hundreds of strikes since 15 March. The strikes hit the Ras Isa oil port and … Read more
In Ryazan, residents posted videos on social media showing more than 50 explosions, including at an oil pumping station and the Ryazan heating power plant, SBU officials added. “It’s the effect of our ‘drone sanctions’ against enterprises of the Russian military-industrial complex and the oil sector in the Russian rear. We will continue to weaken … Read more
US oil group under pressure to exit Russia after Biden administration widens sanctions Financial Times Oil jumps on expected hit to China and India’s Russian supplies CNBC Russia faces higher costs on sea-borne oil exports due to new US sanctions Reuters Oil Price Rally Continues After U.S. Sanctions Russia’s Biggest Oil Sellers OilPrice.com Will Joe Biden’s new oil sanctions … Read more
CNN — Ukraine claimed Saturday to have struck one of Russia’s largest oil refineries in a drone attack, starting a fire at the facility more than 700 miles into Russian territory. The attack on the Taneco refinery in the city of Nizhnekamsk, Tatarstan – one of the largest and most modern refineries in Russia – … Read more
Ukrainian Special Operations Forces (SSO) targeted drones at one of Russia’s largest petroleum terminals in the suburbs of Orel early on Saturday, Dec. 14. “After carefully planning the operation, SSO personnel successfully struck a linear production-dispatching station, resulting in a powerful fire,” the report shared via Telegram said. JOIN US ON TELEGRAM Follow our coverage … Read more
An oil tanker which was attacked by Yemen’s Houthi rebels in the Red Sea last week is still on fire and may be leaking oil, the US Pentagon says. Attempts to salvage the Greek-owned and flagged MV Sounion have been thwarted by the Houthis, who have threatened more attacks, the Pentagon adds. The ship is … Read more