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Saudi Arabia plans to boost output by 1 million barrels per day: Energy minister
- Abdulaziz bin Salman says his country could maintain production at over 13 million barrels per day should global oil market require it
Saudi oil giant Aramco reports over 80% profit rise in 1Q22
- Aramco's first quarter 2022 profits hit $39.5 billion compared to $21.7 billion in same period of last year
EU ban on Russia could affect 3M barrels crude per day: Fitch
- Russia’s total production projected to decline by 2-3M barrels per day by end-2022, says global rating agency
Renewables set to break new record in 2022 despite supply chain challenges
- Growth mainly driven by solar PV in China and Europe despite supply chain challenges, delays and high raw material costs
Japan announces phased-out exit from Russian oil
- Japan is fully dependent on imports for all energy sources, importing around 3% of its oil needs from Russia
US crude oil inventories up 0.3% for week ending April 29
- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 1.16 million-barrel drop
Turkiye's energy import bill up 154.7% in March
- Country's crude oil imports increase by 11.2% compared to March 2021
US crude oil inventories up 0.2% for week ending April 22
- Commercial crude oil stocks increase by 700,000 barrels, against market expectation of 2.16 million-barrel rise
Oil up despite low China demand over COVID-19 lockdowns
-Russia-Ukraine war, however, continues to put upward pressure on prices, raising supply fears
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Oil down over massive build in US crude stocks, demand fears in China
- Inventories with rise of 9.4 million barrels last week encourages investors to capitalize on high price gains
Biden to unveil homegrown biofuels to mitigate oil price hike
- US Department of Agriculture to provide up to $700M funding through new biofuel producer program
13.04.2022
Americas
US energy agency revises down oil price forecast for 2022
- International benchmark Brent crude now estimated to average $103.37 per barrel in 2022 and $92.57 per barrel in 2023
Japan vows to phase out coal imports from Russia and search for alternatives
- Japanese economy and industry minister says his country will comply with Russian sanctions without inflicting burden on domestic industrial sector
Japan to release 15M barrels from state oil reserves amid shaky energy supplies
- Premier Kishida says Japan will take more 'resolute action in response to Russia's invasion and killings of civilians'
US crude oil inventories up 0.6% for week ending April 1
- Commercial crude oil stocks increase by 2.4 million barrels, against market expectation of 1.6 million barrel fall
WoodMac expects relocation of some 650,000 barrels per day of Russian oil
- Reshuffling is attractive at current Urals discounts but refiners face challenges with contractual obligations with Middle Eastern producers, agency warns
Japan rules out withdrawing from energy projects with Russia
- Tokyo's crude oil, LNG imports from Russia in 2021 were around 3.6% and 8.8%, respectively
US crude oil inventories down 0.8% for week ending March 25
- Commercial crude oil stocks decrease by 3.4 million barrels, against market expectation of 1.6 million barrel fall
Saudi Arabia condemns Houthi attacks on Kingdom’s oil facilities
- Riyadh says global energy supplies threatened by Iran-backed rebels in Yemen
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Houthis attack Aramco oil facility in Saudi Arabia's Jeddah: Arab Coalition
- No casualties reported, says Saudi-led coalition
Russia may accept local currencies or Bitcoin for its oil, gas: Official
- ‘Friendly countries’ can also buy natural gas with gold, says chairman of State Duma Committee on Energy
US crude oil inventories down 0.6% for week ending March 18
- Commercial crude oil stocks decrease by 2.5 million barrels, against market expectation of 25,000-barrel rise
bp and Marubeni partner to pursue offshore wind in Japan
- bp to establish local offshore wind development team in Tokyo
TotalEnergies to stop purchasing oil, petroleum products from Russia
- Decision due to worsening situation in Ukraine; company will cease further capital investment, activities in Russia
Quake aftereffects come to haunt Japanese as power cuts expected
- Prime Minister Fumio Kishida says demand for electricity above target levels
S. Arabia will not take responsibility for global oil supply disruptions: foreign ministry
- Iranian-aligned Houthis' attacks on oil facilities undermine security and sustainability of energy supply to global markets, says Saudi foreign ministry
Saudi Aramco's income more than doubles amid plans to raise output by 2027
- Company to raise crude production capacity by 2.8 million barrels per day by 2027
UK, Saudi Arabia agree to 'collaborate to maintain stability in energy market'
- Prime Minister Boris Johnson meets Saudi Crown Prince Mohammed bin Salman in Riyadh