Indian Oil Excludes Russian Urals From Its Latest Tender
A number of high-sulphur crude grades, including Russian Urals, have been excluded from Indian Oil Corporation (IOC)'s latest tender, trade sources have said, Reuters reported.
News / International
OPEC Tells EU There’s No Substitute for Russia’s Oil Supply
According of a copy of Mohamed Barkino (OPEC Secretary)’s speech seen by Reuters, the current and future sanctions could cause more than 7 million barrels per day (bpd) loss of Russian oil and other liquids exports potentially.
Sonatrach Inks Agreement with Eni for Developing Natural Gas Production
Sonatrach announced that it has signed an agreement with Eni company to boost the development of natural gas production projects through the joint efforts and to increase exported gas volumes using the available capacities of Enrico Mattei gas pipeline (Transmed).
TotalEnergies to Ramp Up Its US LNG Production Through Cameron LNG Expansion
The company stated that this expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), and a 5% increase of the current 13.5 Mtpa first three trains through debottlenecking. Adding that to decrease the emissions of the facility, there are enhancements will be designed.
Equinor Achieves New North Sea Oil, Gas Discovery Near Troll and Fram Area
There have been six discoveries in this area since the autumn of 2019; currently this discovery named Kveikje. A total of 300 million barrels of oil equivalent have been discovered in the five previous discoveries.
Oil Prices Dip Amid China Lockdown, Release of Reserves
On Monday, oil prices declined more than $2 per barrel for the second straight week as world consumers announced plans to release a record amount of crude oil and oil products from strategic stocks in addition to China's continued lockdowns, Reuters reported.
OOMCO, Wakud Join Forces to Introduce Biodiesel to the Omani Market
Oman Oil Marketing Company (OOMCO) and Wakud International LLC (Wakud) have signed an agreement to introduce biodiesel blends in Oman.
NISOC Production Grows by 600,000 bbl/d During Raisi Administration
The CEO of the National Iranian South Oil Company (NISOC) announced that its fields' production has grown by 600,000 barrels per day (bbl/d) under the Raisi administration.
Gazprom’s Natural Gas Supply to Europe Continues Despite Sanctions
Gazprom announced on Saturday that it is supplying natural gas to Europe via Ukraine in response to requests from European customers.
Finland to Invest EUR 850M to End Energy Dependence on Russia
The Finnish government announced on Thursday that it would invest up to 850 million euros to ensure sufficient energy supplies and move away from reliance on Russian energy, Reuters reported.
