Oil Exports News

Venezuela's oil exports were little changed at 1.08 million barrels per day in October as stagnant crude production and high freight rates continued to curb demand for many South American grades, according to shipping data seen by Reuters on Tuesday.The country's oil output and exports have rebounded this year to near pre-sanctions levels following the US capture of then-President Nicolas Maduro in January and a flagship agreement with global traders overseen by Washington.However…

Six months after leaving OPEC, the United Arab Emirates on Monday began hosting ADIPEC, one of the world's largest energy conferences, where it told an audience of industry executives it had increased oil exports in spite of the Iran war.The UAE was for 59 years a pivotal member of the Organization of the Petroleum Exporting Countries. It said in April it would leave the group, weeks into the US-Israeli war with Iran. The war, which began at the end of February, has led to severe…

Russian diesel cargoes are returning to their traditional destinations after the US suspended sanctions and secured the lifting of an export ban, with at least two tankers signalling trips to Turkey and Brazil in recent days, according to shipping data from Kpler and LSEG.Russia lifted its self-imposed ban on October 9 on diesel exports, introduced to tackle domestic shortages triggered by Ukrainian drone attacks on refineries, after striking a deal with US President Donald Trump to supply diesel to global markets.The deal included a temporary lifting of US sanctions on Russian fuel supply…

The disruption caused by the Iran war is forcing the energy industry to rethink its just-in-time approach to efficient supply chains and to consider investing in alternative routes which bypass the Gulf and the Red Sea.Attacks on shipping around the Strait of Hormuz and the Bab el-Mandeb Strait have cut energy exports, boosting prices and inflation globally."The biggest lesson of the crisis is that we need not only to think to produce but also to export," said TotalEnergies CEO…

Russia imported more than 176,000 tons of petroleum products from South Korean ports in July and August, easing the impact of a fuel crisis caused by Ukrainian drone strikes on Russian oil refineries, Ukraine's top sanctions official said on Tuesday.The supplies from South Korea made up 31% of Russian fuel imports in August, according to the official, Vladyslav Vlasiuk, citing what he said were reports that tankers, including ones under Western sanctions, were used for the deliveries."These…

Russia has begun commercial oil exports from Rosneft's Vostok Oil, its vast Arctic development that Moscow is counting on to lift crude production following years of delays and sanctions.The launch comes as Russia looks for new sources of production growth after the US shale boom helped propel the US past Russia to become the world's largest crude producer.State-controlled Rosneft started loading crude in September onto specialised ice-class tankers at its newly built Bukhta Sever terminal on the Taimyr Peninsula…

Saudi Aramco loaded about 14 million barrels of crude oil on seven VLCCs inside the Mideast Gulf on Sunday, data from TankerTrackers.com showed, as the kingdom increased loadings from Gulf export terminals after an attack disrupted shipments via its east-west pipeline to the Red Sea.The loadings add to signs of a partial recovery in Saudi shipments, with expectations of higher volumes weighing on oil prices on Monday and helping push the Brent benchmark below $100 a barrel for…

Freight rates for tanker shipments of Russia's flagship Urals crude from western ports to India, the grade's main market, have surged in August as strong demand for vessels and mounting security risks linked to carrying Russian oil drove up costs, three trade sources said.The rise in shipping costs is squeezing revenues of Russian oil exporters already grappling with Western sanctions and a difficult geopolitical environment.Freight markets have also been supported by disruption to global shipping routes stemming from conflict in the Middle East.

Gulf countries' crude oil and condensate exports were largely steady in July and remained about 40% below pre-war levels, shipping data showed, with signs of a slowdown emerging in the second half of the month as fighting in the region intensified again.The relatively stable export levels have helped ease concerns about a sharper supply disruption and offset a drawdown in global oil inventories.However, tanker traffic through the key Middle Eastern waterways of the Strait of Hormuz…

Oil tanker operators are reaping record profits after nearly doubling the hire cost of vessels going through the Strait of Hormuz and wider Gulf region this week on rising demand as traffic through the waterway slowly picks up, according to shipping data and sources.Traffic through the vital strait has been modest since Iran lifted its effective blockade last week after agreeing to a 60-day ceasefire with the U.S., as talks on a permanent deal to end their war continue.The number of ships going through Hormuz is a fraction of the daily average of 125 before the conflict began on February 28.

Crude oil exports from Saudi Arabia fell for a second straight month in April to a record low, according to Joint Organizations Data Initiative (JODI) data released on Monday, as the Iran war disrupted shipments from the Gulf region.Exports fell to about 3.990 million barrels per day in April from 4.974 million bpd in March. The JODI data for Saudi Arabia's crude oil exports and output extends back to 2002, the earliest period for which data is available.The country's crude oil production stood at 6.316 million bpd in April…

While U.S. President Donald Trump has recently hailed the resumption of oil flows from Gulf allies, Iran, too, appears to be gearing up to resume exports and trading.At least three tankers carrying some five million barrels of Iranian oil have sailed through the U.S. naval blockade this week, shipping data shows, despite the U.S. military saying its operations against Iran-linked shipping will stay in place until Friday.The oil market has focused on a deal to end the Iran war…

Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled to put a figure on lost crude supply and to predict the price of oil.Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 million barrels a day, and you easily have the biggest crisis in history.Accordingly, benchmark Brent crude futures shot to nearly $120 per barrel in early March. Analysts warned it was just…

U.S. Energy Secretary Chris Wright said on Tuesday that ship traffic in the Gulf and oil exports through the Strait of Hormuz are rising even as Washington and Tehran struggle to reach a deal on ending their more than three-month-old war."I would say rising very meaningfully," Wright said when asked how ship traffic is flowing through the strait compared to a week or two ago. He said oil exports through the strait and the Gulf have risen and "will continue to rise."Wright made…

Brazil's oil exports are set to drop by half in May from a year earlier as an export tax and stronger domestic demand for fuel have limited shipments, according to government data and industry sources.Brazil imposed the 12% export tax in March, seeking to cushion the impact of higher global oil prices on final consumers by keeping more crude in the country.The measure is seen as limiting Brazilian shipments at a time of record production and despite demand from countries such as China and India.Through the third week of May, Brazil's average oil shipments fell 52% year-on-year to 216,700 metri

A suspected oil spill covering dozens of square kilometres of sea near Iran's main oil hub of Kharg Island has been seen on satellite imagery this week.The likely spill - appearing on images as a grey and white slick - covered waters to the west of the 8-kilometre (5-mile) long island, pictures from Copernicus’s Sentinel-1, Sentinel-2 and Sentinel-3 satellites showed on May 6-8.“The slick appears visually consistent with oil,” said Leon Moreland, researcher at the Conflict and Environment Observatory…

Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday.The South American country has been draining oil inventories and recovering crude output in recent months following the U.S. capture of President Nicolas Maduro in January, which led to a flagship supply pact between the governments of U.S. President Donald Trump and Venezuela's interim President Delcy Rodriguez.The agreement, coupled with U.S.

Iraq has reopened the Rabia border crossing with Syria after more than a decade to accelerate overland fuel oil exports and revive cross‑border trade amid disruption to Gulf shipping following the Iran war, Iraqi border officials said on Monday.The crossing, located in Iraq’s northern Nineveh province, will allow fuel oil shipments to be trucked through Syria while also reopening the route to commercial trade traffic that has been halted since the conflict that followed Syria’s civil war, officials said.The head of Iraq’s Border Ports Commission, Omar al-Waeli, said reopening Rabia would ease

Iran can withstand a complete halt in oil exports of up to two months before being forced to curb production, analysts said, after the U.S. began blocking shipping in and out of the country's ports on April 13.The blockade could prevent roughly 2 million barrels per day (bpd) of Iranian crude from reaching its main buyer China.Any Iranian production shutdowns would add to more than 12 million bpd of supply already disrupted by the regional war, tightening markets further and lifting oil prices.With its exports blocked, Iran faces having to divert crude into onshore storage tanks.

Russia's seaborne diesel and gasoil exports fell 3% in March from February to around 3.06 million metric tons as repeated drone attacks disrupted fuel loadings at key ports, data from market sources and LSEG showed.Ultra-low-sulphur diesel shipments from the Baltic port of Primorsk, Russia's biggest outlet for diesel exports, fell to 1.713 million tons, down 2.6% from February, the sources said.The Russian Baltic ports of Primorsk and Ust-Luga were repeatedly hit by Ukrainian drone attacks last week.On March 22, the two ports suspended oil and fuel loadings following drone attacks.

Indian state fuel retailers' sale of liquefied petroleum gas (LPG) slowed in the first half of March, preliminary data showed, as the country reels from its worst LPG crisis in decades due to shipping disruption in the Strait of Hormuz.India buys about 90% of its imports of LPG - mainly used for cooking - from the Middle East and its supplies have been disrupted after traffic through the strait ground to a near standstill in the wake of the U.S.-Israeli war on Iran.State fuel retailers Indian Oil Corp IOC.NS, Hindustan Petroleum Corp and Bharat Petroleum Corp sell cooking gas in India.The thre

India's Mangalore Refinery and Petrochemicals has suspended fuel exports due to the Middle East conflict that has disrupted crude oil flows from the Gulf, two sources familiar with the matter said on Wednesday.The company has declared force majeure on all upcoming gasoline export cargoes for March and April, two separate trade sources said.MRPL had awarded two to three cargoes of gasoline via tenders for early March loading and is in discussions with buyers on settling those supplies…

Russia has been unable to capitalize on this week's surge in global crude prices, as days of Ukrainian drone attacks and harsh winter storms have sharply curtailed its capacity to export oil, industry sources said.Russia's Sheskharis oil terminal in Novorossiysk port suspended oil loadings on Monday after a Ukrainian drone attack left a fuel terminal ablaze and damaged dozens of buildings, Russian and Ukrainian officials and three trade sources said.Crude oil benchmarks rose about 8% on Tuesday…