MOSCOW/LONDON The commercial start-up of Turkey's new $6.3 billion oil refinery has been delayed until early next year and the plant is not expected to reach full capacity until mid-2019, three sources familiar with the matter said, as tests revealed minor faults.
MOSCOW Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new U.S. sanctions. | Video
MOSCOW Rosneft wants its Western oil buyers to accept new terms and pay penalties from 2019 if they fail to pay for supplies in the event that new U.S. sanctions on the Russian energy major disrupt its oil sales, according to trading sources and Rosneft's draft contracts. | Video
* 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/SEOUL South Korea has imported four times more CPC Blend crude so far in 2018 than in the same period last year, as the major Asian oil consumer seeks to replace Iranian supplies, shipments data and trading sources 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 As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude.
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.
LONDON As OPEC watches a near 15 percent drop in the oil price in three weeks, important indicators in the physical crude market are flashing signals that the decline might be far from over.