Kazakhstan

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to fortify the marketplace amidst lukewarm need development, high rates of interest and rising rival U.S. production. Brent petroleum costs have actually been trading near $80. per barrel in current days, listed below what numerous OPEC+ members need to. balance their budget plans. Concerns over slow need development in top. oil importer China have actually weighed on costs together with increasing oil. stocks in developed economies. The Organization of the Petroleum Exporting Countries and. allies led by Russia, together known...

Kazakhstan resumed gas exports in May that had actually been on hold since May 2022, sending 2,000 metric tons of the fuel to Georgia in May, 3 market sources familiar with the matter stated on Wednesday. Kazakhstan banned fuel exports 2 years ago to protect its domestic market from fuel lacks. Before the ban was introduced, in April 2022, Kazakhstan delivered some 26,000 tons of gas to foreign markets. Prior to this Kazakhstan likewise suspended fuel exports in 2021, while in 2020 its fuel exports totaled up to 494,000 tons. The Condensate refinery, an independent refinery in Kazakhstan, was granted...

Urals petroleum differentials firmed to outdated Brent on Friday in the middle of softer freight rates for the grade's shipments to Asia. Urals differentials to outdated Brent in northwest Europe firmed by some 70 cents per barrel to discounts above minus $13. per barrel, computations reveal. Discounts for 140-tonne Urals cargoes in the Mediterranean. have actually narrowed by some 25 cents and stand above minus $10 per. barrel to Brent. Freight rates for Aframax ships, which usually fill some. 720,000 barrels of Urals crude in Primorsk or Ust-Luga for a. one-way trip to Indian ports, alleviated to average some $7...

At least three tankers with Russian Urals oil on board picked a longer path to Asia around the Africa's Cape of Great Hope in March and April as military risks in the Red Sea stay high, 2 traders stated and LSEG information revealed. 2 tankers, Fos Picasso and Hydra, bring some 200,000 metric lots of Urals oil packed from Baltic in April went to India around Africa, while the vast bulk of the vessels with Russian oil have actually been selecting the shorter path by means of Suez channel and Red Sea, LSEG information shows. Many ships bring Russian items...

Urals crude differentials were steady on Wednesday in a quiet session due to a public holiday in lots of countries for May 1, while discounts for CPC Blend oil to dated Brent narrowed somewhat in fresh trade. PLATTS WINDOW * ExxonMobil sold 100,000 metric tons of CPC Blend loading from Yuzhnaya Ozereyevka on May 22-26 to Vitol at dated Brent minus $3.60 per barrel CFR Augusta. * ExxonMobil had actually offered the exact same freight in the previous session at the very same cost, but had actually not discovered a purchaser. * No quotes or offers were produced Urals and...

Russia and its partners inside the Eurasian Economic Union (EEU) have agreed to continue highsulphur bunker fuel usage and production for vessels inside the bloc up until the end of 2026, the Eurasian Economic Commission ( EEC) stated on its website. The International Maritime Company (IMO), of which Russia is a member, implemented a 0.5% sulphur content limitation for bunker fuel worldwide from 2020, in one of primary changes for the marine market in the last few years. However, the EEU has actually been sluggish to carry out the limit for its domestic water-borne transport, which allows its refineries to...

Kazakhstan braced on Friday for levels on the Ural River to rise sharply, something that might threaten 2 of its western areas and key oil facilities, while Russia came to grips with floods in and near Siberia. Both countries have in the last couple of weeks fought the worst floods in decades, which have required 10s of thousands individuals to evacuate. Hundreds of individuals were developing a 7-km (4.3-mile) barrier on Friday along the Ural River in the town of Yanvartsevo, in the West Kazakhstan area, about 20 km from the Russian border, which officials stated would likewise secure the...

Kazakhstan has raised its arbitration claims against the global oil majors that established the Kashagan oilfield to more than $150 billion, Bloomberg News reported on Wednesday, citing individuals familiar with the matter. Kazakhstan's energy minister stated last year it was pressing ahead with $16.5 billion in claims versus the consortium over disputed job costs and had no prepare for a possible out-of-court settlement. The report on Wednesday stated the figure had jumped after the Kazakhstan federal government added a claim for as much as $138 billion, showing the estimation of the value of oil production that was assured to the...

Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) pipeline system are set to decline to about 4.9 million metric heaps in May from 5.4 million planned for April, three sources familiar with the matter stated. Daily CPC Blend oil exports will decrease by some 12% in May from April's strategy, calculations showed. A drop is expected due to prepared maintenance on the Tengiz oilfield, the sources stated. Tengizchevroil said on Wednesday it prepares to conduct set up maintenance at one of six production trains at the Tengiz oilfield in Kazakhstan in May amidst reports of an...

Russia has actually asked Kazakhstan to stand all set to provide it with 100,000 tons of gas in case of lacks exacerbated by Ukrainian drone attacks and failures, three market sources informed . Among the sources stated a deal on utilizing reserves for Russia has currently been concurred. Russian and Kazakhstan's energy ministries did not right away respond to requests for remarks. Neighbouring Belarus has actually currently consented to help Russia with gas supply. Drone attacks had actually knocked out some 14% of Russian primary oil refining capability as of end-March. Up until now authorities have said the situation on...

Urals crude differentials to outdated Brent were steady on Tuesday, while Russia added 2 more oil freights to its packing strategy from western ports in March, enhancing overall crude exports by a total of 13% from the preliminary strategy due to a fall in processing. * The nation will export a total of 2.22 million barrels each day (bpd), up from the preliminary strategy of 1.96 million bpd after adding 2 730,000-barrel Urals oil freights on top of additions made earlier. * Oil prices rose to multi-month highs for the 2nd directly session on Tuesday, as traders assessed how Ukraine's....

Russia on Tuesday ordered a. sixmonth ban on gasoline exports from March 1 to keep costs. steady amidst rising need from consumers and farmers and to. permit upkeep of refineries worldwide's 2nd. biggest oil exporter. The restriction, first reported by Russia's RBC, was validated by a. spokeswoman for Deputy Prime Minister Alexander Novak, President. Vladimir Putin's point guy for Russia's large energy sector. RBC, citing an unidentified source, said Prime Minister. Mikhail Mishustin had approved the ban after Novak proposed it. in a letter dated Feb. 21. A 2nd source told that the. choice had been made however the decree...

Urals petroleum differentials to outdated Brent were stable once again on Thursday, while CPC Blend oil differentials firmed amid enhanced need from refiners in Europe, traders said. CPC Blend remained less expensive than regional alternatives in the Mediterranean, while European refiners had an interest in purchasing June cargoes of petroleum as the spring upkeep season ended, traders stated. Caspian Pipeline Consortium (CPC), the export path for CPC Mix, increased oil products in January-April by 4% from the very same duration a year previously to 22.715 million metric lots (1.44. million barrels per day), 2 industry sources said on Monday. PLATTS...

Azeri BTC unrefined differentials reduced on Friday after an offer in the afternoon trading window, while CPC Blend remains under pressure, as oil need in Mediterranean remains weak, traders said. * Any Danish relocate to limit the flexibility of navigation of Russian ships in the Baltic straits will be viewed as a hostile act and draw retaliation, Russian foreign ministry spokeswoman Maria Zakharova said on Friday. PLATTS WINDOW * SOCAR offered to Eni 650,000 barrels of Azeri BTC from Ceyhan over May 21-25 at dated Brent plus $1.55 per barrel. That was down by some 30 cents from the current...

Kazakh miner Eurasian Resources Group (ERG) has rejected accusations it attempted to bypass Democratic Republic of Congo's subcontracting laws designed to increase local ownership in the mining sector, job creation, and benefits to the nation's economy. In a declaration released last week, Congo's federal government accused ERG of passing off 9 subcontracting companies as majority partners with fictitious shares in order to circumvent legislation requiring that Congolese investors own 50% of subcontracting shares. The Regulatory Authority for Farming Out in the Personal Sector, a government body, stated that more than $535 million in sales had actually incorrectly gone to foreign-owned...

The European Union and the United States will fail to reach a vital minerals agreement at a meeting of leading authorities today, but will release a joint push to create collaborations with resourcerich nations. Brussels has been eager to protect a handle Washington that would enable vital minerals mined or processed in Europe to qualify for U.S. clean automobile tax breaks. A senior European Commission authorities stated a deal was not. predicted by the time the two-day Trade and Innovation Council. concluded on Friday, but a joint statement would say that the. two sides will work towards reaching a contract....

Urals crude differentials to outdated Brent were the same on Monday, while Azeri BTC oil filling plan from Ceyhan port in May showed a decrease of exports from April. Azeri BTC petroleum exports from Turkey's Ceyhan terminal are set at 16.50 million barrels in May compared to 16.55 million barrels in April, according to a packing schedule seen . Daily, Azeri BTC oil loadings will fall by around 3.52% next month compared to April, reaching simply over 532,000 barrels per day, computations show. PLATTS WINDOW * No bids or offers were produced Azeri BTC, CPC Blend or Urals oil in...

Urals unrefined differentials to dated Brent were unchanged on Wednesday, while more Russian oil refineries were attacked by drones. * Ukraine's SBU security service performed drone attacks on 3 Russian oil refineries in Ryazan, Kstovo and Kirishi overnight as part of a technique to reduce Russia's financial potential, a Ukrainian source informed on Wednesday. * Russia's Ryazan oil refinery shut down two primary oil refining units on Wednesday after a fire brought on by a drone attack, two sources familiar with the situation informed . * An unexpected decline in Russian oil refining may lead to top ups to Russia's...

Urals crude differentials to dated Brent were steady on Tuesday, while Russia's Lukoil NORSI refinery was knocked out in a significant Ukrainian drone attack. * Industry sources informed on condition of privacy that the main crude distillation system (AVT-6) at NORSI was damaged in the attack, which implies that at least half of the refinery's production is stopped. Lukoil declined to comment. * The NORSI refinery blackout might cause additions to the March loading plan for Russia's western ports, but no additional packing slots have been announced so far, traders said. * The United States is trying to help India...

K azakhstan's president explained floods throughout the north of the nation as a nationwide disaster on Tuesday and bought his federal government to free up funds for relief efforts by cutting spending in other places. In Russia, likewise struck by the worse floods in living memory, a. top ally of President Vladimir Putin stated local authorities. had actually fallen short in their forecasting and emergency response. Water levels in rivers in swathes of Russia's Ural and. southwestern Siberian areas, as well as nearby areas of. Kazakhstan, were still increasing rapidly, officials stated. The disaster has been caused by the quick...

Urals unrefined differentials were steady on Wednesday, while CPC Blend oil relieved further to dated Brent after a deal and stayed at the lowest levels in 2 months. * Azeri BTC petroleum exports from Turkey's Ceyhan terminal are set at 18.40 million barrels in June compared to 16.50 million barrels in May, according to a loading schedule seen . * CPC Blend's loading plan for June is expected to be launched later this week or early next week. PLATTS WINDOW * Azerbaijan's SOCAR sold to Petroineos 88,000 metric heaps of CPC Mix filling from Yuzhnaya Ozereyevka on May 29 -...

Urals unrefined differentials to dated Brent were unchanged on Monday, while Marchloading freights were provided in the market. Sellers actively provided Urals oil loading from Russian ports in March, though traders did not hurry to make offers as they attempted to approximate possible result from the current U.S. sanctions imposed on Russian oil shipping business Sovcomflot and tankers. The sanctions might increase Russian oil shipping costs and weigh on tanker schedule, traders stated. PLATTS WINDOW There were no bids or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Monday. NEWS * A slump in...

Urals crude differentials to outdated Brent firmed on Wednesday amid greater rates for the grade in India for cargoes filling early in March, traders said. * Urals discounts narrowed listed below $4 a barrel to outdated Brent on a delivered ex-ship (DES) basis in Indian ports, from minus $ 4-5 a barrel for February loading cargoes, they included. * Shipping costs from Baltic ports to India stood steady at around $7.5 million-$ 8 million per voyage. PLATTS WINDOW * There were no quotes or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Wednesday. NEWS...