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Brent Oil Price Hits 11-year Low amid Oversupply Worries

Dec 22, 2015

Brent oil price hit 11-year low Monday as the market continued to be plagued by an oversupply of crude oil and weakening demand. Brent crude for February delivery decreased 53 cents to close at 36.35 U.S. dollars a barrel on the London ...

Tags: Brent oil, Oil prices

Iran Expects Sanctions on Oil, Gas Sector to Be Lifted From Jan 2016: Official

Dec 2, 2015

Sanctions on Iran's oil and gas sector could be lifted in the first week of January, according to Amir Hossein Zamaninia, Iran's deputy oil minister for international affairs Saturday, as the country seeks an agreement with OPEC to ...

Tags: Oil, Gas, Iran's oil

South Asia's Economic Growth Set to Reach a Four-Year High in 2015

Jan 21, 2015

Led by a pick-up in growth in India, which accounts for about 70 per cent of regional output, South Asia’s economic growth is set to reach a four-year high in 2015, according to the United Nations World Economic Situation and ...

Tags: nuclear agreement, Textile

Oil Industry Ride out a Further Price Slump to $25 a Barrel

Jan 20, 2015

Oil industry could ride out a further price slump to $25 a barrel since there is no sign within OPEC toward action to support oil prices. It shows that despite lobbying by Iran and Venezuela, there is little chance of collective action by ...

Tags: Oil industry, crude oil

Oil Exports to North Korea Has Been Cut off by China

Dec 8, 2014

This year,China has cut off oil exports to north Korea and north Korea promised to stop nuclear development and announced a return to the six-party talks to resume the conditions for export. This is an action to continue to pressure on ...

Tags: Oil Exports, nuclear development

Ecuador Has Become The World's Largest Exporter of Bananas

Dec 2, 2014

According to the UN Food and Agriculture Organization (FAO), Ecuador dominated the world's banana exports this year with it's 30% share of exports. Philippines, Guatemala, costa rica and Colombia respectively by 16.04%, 12.30%, 11.64% and ...

Tags: Bananas, fruits

Libya's Oil Sector Is Showing Tentative Signs of Recovery

Jun 25, 2014

Libya's oil sector is showing tentative signs of recovery, with production now averaging around 300,000 b/d after the restart of the key Elephant field and with exports from the eastern ports of Marsa al-Hariga and Zueitina resuming after a ...

Tags: Oil Production, Elephant crude

Canada and South Korea Would Remove The Current 3% to 8% Tariff

Jun 23, 2014

A proposed free trade agreement between Canada and South Korea would remove the current 3% to 8% tariff that Canadian oil and gas producers have to pay for exports into that Asian nation, a Canadian government spokeswoman said Monday. ...

Tags: LNG Exports, Oil Exports

Iraq Set a New Post-War Record in April for Exports Through Its Southern Terminals

May 7, 2014

Iraq exported 2.509 million b/d of crude in April, all from its southern oil terminals as the country's northern export pipeline remained inoperable. April exports were 112,000 b/d more than the 2.397 b/d exported from the country in ...

Tags: Crude, oil terminals

The Fuel Oil Spread Narrowed to 6.668m Barrels, The Tightest Spread Since January

Apr 24, 2014

The fuel oil inventory spread between the US Gulf Coast and Japan narrowed to 6.668 million barrels, the tightest spread since January, comparison of recent data shows. BNP Paribas said in its weekly oil inventories report, published ...

Tags: Fuel Oil, US Gulf Coast

Yemen's Crude Oil Exports in February Fell to 800,000 Barrels

Apr 23, 2014

Yemen's crude oil exports in February fell to 800,000 barrels, from around 2 million barrels in January as repeated attacks on oil pipelines led to halts in crude production, official new agency Saba reported Saturday, quoting a report by ...

Tags: crude oil, Yemen

EIA Was Asked to Analyze The Impact of Lifting Restrictions on US Crude Oil Exports

Apr 15, 2014

The Senate Energy and Natural Resources Committee chairman and ranking member have asked the Energy Information Administration to analyze the impact of lifting restrictions on US crude oil exports. "This is a complex puzzle that is best ...

Tags: Crude Export, EIA Study

Vietnam's Oil Product Imports in February Rose for a Third Consecutive Month

Mar 18, 2014

Vietnam's oil product imports in February rose for a third consecutive month, on a year-on-year basis, following declines for most of last year, customs data released late Thursday showed. The country imported 602,827 mt of oil products ...

Tags: Oil Product, crude, gasoline

Successful Conclusion to Canada-Korea Free Trade Agreement Negotiations

Mar 14, 2014

Canola farmers welcome today’s announcement on the successful conclusion to the Canada-Korea Free Trade Agreement negotiations. “South Korea is an important export market for canola and we applaud the Government of Canada for ...

Tags: Canola, Agriculture, Food

US Crude Production Will Average 8.39 Million B/D in 2014

Mar 13, 2014

With US refineries expanding their capacity to process more domestic light oil in the coming years, the US Energy Information Administration on Tuesday said it expects refinery crude inputs to reach 15.52 million b/d this year and 15.61 ...

Tags: US Refinery, Domestic Production, light oil

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