How Dubai Could Undermine Sanctions on Russian Oligarchs
Stretching into the Persian Gulf from the beaches and skyscrapers of Dubai is a man-made archipelago in the shape of a vast palm tree, its branchlike rows of islands lined Continue Reading
Governor Takes Aim at Nigeria’s $7 Billion Oil Theft Trade
Flares burn at an oil flow station in Idu, Rivers State, Nigeria. A governor in one of Nigeria’s crude producing states has declared “total war” against rampant oil theft and Continue Reading
China’s independent refiners eye output cuts as crude price surge hurts profits
China’s independent refiners are set to cut production in coming weeks as a Ukraine-driven surge in oil prices squeezes margins, with a jump over $130 a barrel unnerving producers, trading Continue Reading
Why Japan’s power sector depends so much on LNG
Resource-poor Japan depends overwhelmingly on fossil-fuel imports to meet its energy needs, complicating calls for the nation to boycott Russia’s oil and liquefied natural gas (LNG) after Moscow’s invasion of Continue Reading
Hong Kong’s Covid Crackdown Empties Stores and Sets Off Exodus
As the government in Hong Kong struggles to contain the city’s worst Covid outbreak ever, some residents have panicked. They have emptied supermarket shelves of vegetables and meat. They have Continue Reading
Japan starts oil release from private petroleum reserves in IEA joint effort
Highlights Allowing refiners, importers to lower stockpile by 4 days until April 8 Japan’s oil release equates to 12.5% of IEA’s total oil release Japan said it started March 10 Continue Reading
Australia’s record high thermal coal prices here to stay amid sweeping European demand
Australia’s thermal coal prices are expected to remain elevated in the near term as it finds new buyers in Europe amid the Russia-Ukraine conflict, while interest from Japan and South Continue Reading
China independent refiners’ Russian crude imports set to fall further from Feb lows
The appetite for Russian crude among China’s independent refiners fell to a nine-month low in February due to lower runs amid festive holidays and the Winter Olympics, while shipping risks Continue Reading
Japan more than triples fuel subsidies over March 10-16
Highlights Subsidy payment rises to Yen 17.7/liter on the week, from Yen 5.0/liter Subsidy payments could reach upper limit of Yen 25/liter after March 17: sources The Japanese government more Continue Reading
U.S. House approves Ukraine aid, Russia oil ban, funds averting U.S. gov’t shutdown
The U.S. House of Representatives on Wednesday voted to rush $13.6 billion in aid to Ukraine as it battles invading Russian forces, along with $1.5 trillion to keep U.S. government Continue Reading