Kazakhstan’s oil exports to Germany via Russia’s Druzhba pipeline are expected to reach 100,000 tonnes in May, pipeline operator KazTransOil said. That is up from 90,000 tonnes of Kazakh crude delivered to Germany via Druzhba in the entire February to April period, Reuters data shows. KazTransOil had planned to deliver 100,000 tonnes of crude to Germany in April, but only supplied 50,000 tonnes. In February, it shipped 20,000 tonnes of crude to Germany via Druzhba, the first such shipment ever, replacing Russian supplies for German refineries. The European Union has ...

About 350,000 barrels per day of U.S. crude is lining up to be delivered versus the international Brent benchmark, consultancy Facts Global Energy estimated, as WTI Midland becomes the first non-North Sea grade to be included in the world’s most important oil benchmark. WTI Midland will join the S&P Global Platts dated Brent price assessment beginning next month, boosting European demand for the Texas crude. The oil will be delivered in Rotterdam and priced to appear as a North Sea grade. The surge in volumes points to the added importance ...

The United Nations is working with the African Export-Import Bank (Afreximbank) to create a platform to help process transactions for Russian exports of grain and fertilizer to Africa, the top U.N. trade official told Reuters on Wednesday. An agreement struck in July last year requires the U.N. to help Russia overcome any obstacles to its grain and fertilizer exports for three years. It was reached at the same time as a deal allowing the safe Black Sea export of food and fertilizer from Ukraine following Russia’s February 2022 invasion. The ...

According to foreign news on May 24, the Indonesian mining minister told parliament on Wednesday that although the export ban will be implemented in June, Indonesia will allow the export of some raw ore to continue. The resource-rich country had planned to ban all metal ore exports to encourage investment in domestic processing industries. But exports of copper, iron ore, lead, zinc and anode mud from copper concentrates will be allowed until smelters, many of which were delayed by the pandemic, are ready to handle the materials, said Energy and ...

German utility Uniper is not buying Russian liquefied gas (LNG), Chief Financial Officer Jutta Dönges said on Wednesday at the firm’s virtual shareholder meeting. “We can definitely rule that out,” she responded to a question from a shareholder who enquired whether Uniper was acquiring LNG from Russia through third parties on the global market. Source: Reuters (Reporting by Tom Käckenhoff, writing by Linda Pasquini, editing by Friederike Heine)

The Argentine government has asked oil companies to finance their own imports for 90 days due to the shortage of foreign currency atthe country’s central bank, an official source familiar with the matter said on Wednesday. The request follows a decision from the government to request companies to obtain their own financing through international banks or parent companies to avoid resorting to the exchange market to access dollars. The South American country, one of the world’s largest food exporters, has beenseverely hit by a recent drought and is battlingtumbling foreign ...

U.S. crude oil imports decreased while exports increased during the week ending May 19, the U.S. Energy Information Administration (EIA) said in a report released on Wednesday. U.S. crude oil imports averaged 5.85 million barrels per day (b/d) last week, down by 1.01 million b/d from the previous week, while crude oil exports averaged 4.549 million b/d, up by 239,000 b/d from the previous week, according to the Weekly Petroleum Status Report. Over the past four weeks, crude oil imports averaged about 6.165 million b/d, down by 3.9 percent from ...

Indonesia will allow shipments of some raw minerals to continue despite an export ban that is set to start in June, the mining minister told parliament. The resource-rich country had planned to ban exports of all metal ore to encourage investment in the domestic processing industry. But exports of copper, iron ore, lead, zinc and anode mud from copper concentrates will be allowed until smelters, many of which were delayed by the pandemic, are ready to handle the materials, said Energy and Mineral Resources Minister Arifin Tasrif. He said banning ...

Western pledges to prevent the circumvention of anti-Russian sanctions risk falling flat in India. Fuelled by cheap imports from Moscow, the Asian country’s yearly oil products sales to Europe have surged over 70% to $15 billion in the past year, according to data from the Indian Ministry of Commerce. The trend shows trade restrictions are not watertight. And the Group of Seven vowed on Friday to plug sanctions loopholes. Yet, the risk of an energy inflation resurgence makes a European Union ban on Russian oil reselling a tough call. The ...

In our Issues in Focus: Effects of Liquefied Natural Gas Exports on the U.S. Natural Gas Market supplement to our Annual Energy Outlook 2023 (AEO2023), we find that the volumes of liquefied natural gas exports (LNG) do affect average U.S. natural gas prices. However, the resulting range in natural gas prices in our new cases was narrower than the price range in recent history and the AEO2023 side cases despite a wide variety of U.S. LNG export volumes. In our AEO2023, we explore long-term energy trends in the United States ...

China is likely to import a similar amount of iron ore this year as it did in 2022, with demand in the world’s biggest steel producer failing to show signs of recovery, according to participants at an industry conference. Iron ore imports over January-April jumped more than 8% as mills boosted purchases in anticipation of higher demand after China abandoned its pandemic restrictions. However, a lack of growth in the property sector, the top consumer, is likely to take a toll on purchases, miners and traders said on Wednesday. “With ...

Taiwan’s MFIG purchasing group bought about 65,000 tonnes of animal feed corn to expected to be sourced from Brazil in an international tender on Wednesday, European traders said. It was believed to have been sold by trading house Amaggi. The corn was purchased at an estimated premium of 139.00 U.S. cents a bushel c&f over the Chicago September 2023 corn contract CU3, they said. The tender sought shipment between Aug. 5 and Aug. 24 if the corn is sourced from the U.S. Gulf, Brazil or Argentina, traders said. Traders said ...

The Russian government is considering a possible gasoline export ban to prevent domestic fuel shortages and price increases after a decision to reduce subsidies for refineries, industry and government sources told Reuters on Tuesday. The European Union introduced a ban on Russian refined oil products including diesel and fuel oil from early February, but Russia boosted gasoline exports by nearly 50% year on year in the first quarter, shipping cargoes directly to Africa. The sources also said the government could increase volumes of mandatory gasoline sales on the commodity exchange. ...

Positive signs from Canberra on a resumption of copper exports to China are welcome to producers and buyers eager for a return of trade after a diplomatic freeze, but no shipments have been cleared by Chinese customs yet, according to traders and China trade data. China is gradually easing a raft of unofficial curbs and tariffs on Australian products, including coal and barley, imposed in 2020 as tensions flared over trade, security and the origins of COVID-19. Following a trip to Beijing earlier this month, Trade Minister Don Farrell told ...

Russian energy deliveries to China were set to grow by 40 percent this year, Deputy Prime Minister Alexander Novak said Tuesday, as Moscow seeks to deepen ties with Beijing in the face of Western sanctions. Novak travelled to Shanghai as part of a delegation accompanying Russian Prime Minister Mikhail Mishustin. Speaking at a Russian-Chinese Business Forum, Novak said energy was a key pillar of cooperation with China, adding that he expected supplies to grow by around 40 percent this year. He also said that Russia and China were discussing plans ...