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Middle East

Russia’s Lukoil ‘happy’ to resume talks on Iranian projects once US sanctions lifted | Source: S&P Global

Russia’s Lukoil would be “happy” to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on the Middle Eastern country are lifted. Lukoil was in talks with Iran to develop the Ab Teymour and Mansouri oil fields, but had to put plans on hold in late 2018 after the US pulled out of the Iranian nuclear deal and reimposed sanctions on the country’s oil industry.

Source: S&P Global


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North America

Exports of Russian crude to US soared to 12-year high despite ongoing political tensions | Source: Neftegaz.RU

US daily imports of Russian oil have hit new highs, despite tough talk on a wide range of issues, including energy. Russia -the country’s 2nd biggest oil supplier after Canada- remains one of the US’ biggest strategic partners in the energy sector, despite long-standing tensions between Moscow and Washington.

Source: Neftegaz.RU


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Middle East

Iran opens new oil export pipeline bypassing Strait of Hormuz | Source: World Oil

Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz. Most of Iran’s energy exports currently pass through the Strait of Hormuz, a narrow shipping channel on the Persian Gulf that was plunged into crisis after former President Donald Trump abandoned the 2015 nuclear deal and reinforced sanctions on Iran’s oil sector and wider economy.

Source: World Oil


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Africa

Russia Resumes Oil Production In Libya | Source: Warsaw Institute

Gazprom has resumed crude oil production in Libya under its joint venture agreement with Germany’s Wintershall Dea. Oil production facilities reopened after a ten-month hiatus amid a fragile political and military situation in Libya that indeed shook the country’s oil exports.

Source: Warsaw Institute


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Middle East

World Powers Agree to Lift Oil, Banking Sanctions on Iran: Rouhani | SOURCE: IFP NEWS

Iranian President Hassan Rouhani says the world powers involved in the ongoing negotiations in Vienna have agreed to remove the anti-Iran sanctions in the oil, banking, shipping, and insurance fields.

SOURCE: IFP NEWS


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Africa

Russia is recruiting 400 Syrian mercenaries to protect Haftar’s oil fields in Libya | SOURCE: THE NEW ARAB

Russia is recruiting 400 Syrian from Bashar Al-Assad’s military and allied armed factions to protect Libyan oil facilities held by militias belonging to renegade general Khalifa Haftar. Meanwhile, the pro-regime Jerusalem Brigade, also supported by Russia, is recruiting mercenaries to reinforce its numbers after attacks by the Islamic State group.

SOURCE: THE NEW ARAB


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Latin America

Ecuador indigenous protestors block access to Petroecuador oil field | SOURCE: REUTERS

A view shows the Ecuador’s state-run Esmeraldas refinery complex in Esmeraldas, Ecuador

An indigenous community in Ecuador’s Amazon region is blocking access to one of state oil company Petroecuador’s main fields.

SOURCE: REUTERS


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Geoeconomics

Iran To Saudi Arabia: Sell Our Oil And We Will Reduce Houthi Attacks | SOURCE: OIL PRICE

Iran is looking to persuade its regional rival Saudi Arabia to help it to sell Iranian crude oil on international markets in exchange for limiting attacks from the Iran-aligned Houthi rebels in Yemen on Saudi oil infrastructure. Until the sanctions slapped on Iran’s oil exports by U.S. are in place, Iran is looking for alternatives to have its oil sold on the international markets.

SOURCE: OIL PRICE


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Geoeconomics

SOUTH ASIA

INDIA:

  • India has emerged as the top buyer of US crude in the first quarter of calendar year 2021, after Saudi Arabia staved off India’s request to boost production to cool prices, and Indian refiners replaced some of the Saudi volumes with US cargoes at the behest of the government.

SOURCE: THE HINDU BISINESS LINE


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Geoeconomics

ASIA PACIFIC

CHINA:

  • Saudi Arabia, the world’s biggest oil exporter, retained its position as China’s top supplier in the first two months this year. The kingdom beat Russia to keep its ranking as China’s top crude supplier in 2020 despite unprecedented production cuts in a pact between the OPEC and its allies to balance global markets after demand plunged during the COVID-19 pandemic.

SOURCES: REUTERS


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