MOSCOW European refiners are paying the price for U.S. oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed.
HOUSTON/MEXICO CITY/MOSCOW Venezuelan oil company PDVSA is looking to double exports to India as U.S. sanctions hobble deliveries to the United States and Europe.
MOSCOW Azeri BTC oil exports from Turkey's Ceyhan port are set to fall after Turkmenistan diverts its oil flows to Russia, which may also reduce the quality of the Azeri BTC blend by lowering its Turkmen content, traders and industry sources said.
* Surgutneftegaz is Russia's fourth biggest oil firm by
MOSCOW Russian oil producer Surgutneftegaz is pushing buyers to agree to pay for oil in euros instead of dollars if the need arises, apparently as insurance against possible tougher U.S. sanctions, traders who deal with the firm told Reuters.
MOSCOW Russia used stocks held in tanks at its oilfields to help boost crude production in June, three industry sources told Reuters, in a sign of supply flexibility as OPEC kingpin Saudi Arabia pushes other major producers to increase spare output capacity.
LONDON/ALMATY/MOSCOW Major European trader Vitol is set to increase its cash-for-oil deal with Kazakhstan's state energy firm by offering about $650 million or more to finance the Kashagan oilfield, sources familiar with the matter said.
MOSCOW Ahead of a meeting with Saudi Arabia and other producers, Russia already plans to increase oil exports, its July-September schedule shows, which coupled with increasing refinery runs suggests Moscow is gearing up to raise production.
MOSCOW/LONDON Oil trader Trafigura will regain its position as the largest buyer of seaborne crude from Russia's Rosneft, trading sources told Reuters on Friday, expanding their partnership as Rosneft reduces its dealings with Vitol and Glencore.
(This version of the October 6 story corrects figure in paragraph 1 to 360,000 bpd from 36,000 bpd)