Oil tanker rates are crashing as a pact to limit global crude production begins. Don’t bet on the rout enduring. From today, crude producers in the OPEC+ alliance are cutting their collective output by a level that’s unprecedented in history — almost 10% of global consumption. Normally, such huge curbs would have destroyed the tanker […]

As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still. Having collapsed by about 60% this year, Brent and West Texas Intermediate crude have stabilized at around $25 a barrel, but the price […]

The office of the Federal Service for Supervision of Natural Resource Usage in Volgograd region has conducted an unfinished inspection of ZAO Volzhskiy Ship-Building and Ship Repair Yard. This is reported by the press-service of the office. The inspection reveals the fact of petroleum products spew into the soil in the area of 90 square […]

Kazakhstan considers the possibility of carrying out tolling operations with the People’s Republic of China, the annual volume of which may comprise up to 1.5 million tons of crude oil, the Oil and Gas Minister of the republic Sauat Mynbaev says. “Concerning the system solution as to reducing the level of our dependence on Russia […]

The state oil producing monopoly of Belarus the production association Belarusneft extracted 979 thousand tons of crude oil for the period from January to July 2011 which is by 0.8% less than for the same period of 2010, according to the statement of the Energy Ministry of Belarus. Belorussian oil was exported predominantly to Germany […]