Author: omc_admin
Ukraine Peace Talks Cloud the Oil Prices Forecast The headline risk is squarely tied to the Ukraine peace talks. Washington and Kyiv are working on a revised agreement ahead of Thursday’s deadline set by President Trump. The first version stirred pushback for being too soft on Moscow, and adjustments are now underway. The market is reading all of this as a potential path to easing sanctions on Russia — a major producer — and that’s keeping crude under pressure. Normally, fresh U.S. sanctions on Rosneft and Lukoil would put a floor under prices. Not this time. Traders are more focused…
Oil traders suspect that the unusually large quantities of crude oil imported by China from Indonesia may actually hail from Iran. They say a way to mask shipments of sanctioned Iranian crude is to trans-ship it through waters off Malaysia and it would make sense that Indonesian companies are doing this because of greater scrutiny of cargoes originating from its neighbour. Declaring Iranian oil as Malaysian has long been a tactic of traders selling to China, the largest buyer of the US-sanctioned crude, market participants say. ALSO SEE: Malaysia Says It’ll Ban Social Media For Children From 2026 China has…
Uncertainty regarding US interest rate cuts is another factor suppressing investors’ appetites.Oil prices fell on Monday, extending last week’s decline of about 3 per cent as investors weighed the chances for a US rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia.The United States and Ukraine were set to resume work on a revised peace plan ahead of a Thursday deadline set by US President Donald Trump, after agreeing to adjust an earlier version that critics said was too favourable to Moscow. Brent crude futures fell 58…
Indian refiners are scouting for alternatives after US President Donald Trump imposed sanctions on Rosneft and Lukoil.Mangalore Refinery and Petrochemicals Ltd has bought 2 million barrels of Abu Dhabi Murban crude for January loading via a tender as it continues to shun Russian oil, trade sources said on Monday.The refiner bought the cargo from BP via a tender, they added, although the price was not immediately available. Companies typically do not comment on their commercial deals.The purchase comes after MRPL bought 1 million barrels of Basra Medium crude for January 1-7 delivery earlier this month. Indian refiners are scouting for…
Industry body Offshore Energies UK’s (OEUK) 2025 awards ceremony took place in Aberdeen, Scotland, on Thursday night, crowning several winners across a range of categories. “In Aberdeen … [on Thursday], the UK’s offshore energy industry paused to celebrate its people – from those just starting out to those whose careers have spanned the North Sea’s six-decade story,” OEUK said in a statement sent to Rigzone. “At Offshore Energies UK’s (OEUK) 2025 Awards … the spotlight turned to the individuals and companies shaping the sector’s future, even as it faces a complex fiscal landscape and a subsequent downturn in activity,” it…
In this week’s ESG News Week In Review, policy reform, carbon market expansion and industrial decarbonization all accelerated as governments and companies adapt to a more complex transition landscape. The EU proposed a major overhaul of SFDR aimed at simplifying ESG disclosures and cutting reporting costs, while California’s climate-risk law was halted even as its emissions rule moved forward. Germany committed $1.15B to Brazil’s Global Rainforest Fund, and Singapore deepened Article 6 cooperation with Malawi as countries looked to expand high-integrity international carbon markets. Carbon activity strengthened, with durable removal prices rising alongside Big Tech’s increased AI energy use, the…
The Australian Fair Work Commission has given the go-ahead to industrial action at Woodside Energy’s Pluto LNG 2 project after trade unions failed to agree on higher wages with the company.Per the regulator’s decision, as cited by Reuters, the Offshore Alliance, which groups two industry trade unions, must hold a vote no later than December 4 to decide whether to start a strike. If the strike is approved, it would delay the start of production at Pluto LNG 2, which was scheduled for the second half of 2026.The dispute arose from findings made by the Offshore Alliance that workers at…
In July 2024, Magdalena Robinson was laid off from her job as a vice president of talent acquisition at a media agency. The news came as a shock — by all accounts she was doing well — but she saw a silver lining: Maybe it was finally time for a career break. She took the rest of the year off, soaking in the extra time with her husband and teenage daughter. Then she started applying for jobs in January.Eleven months and 300 applications later, she still doesn’t have a single offer.”I don’t know what’s going on right now,” she tells…
Russia’s flagship Urals crude is being offered to India’s refiners at the cheapest price in at least two years after US sanctions on top producers Rosneft PJSC and Lukoil PJSC upended a lucrative trade. The price of Urals for Indian refiners has slipped to a discount of as much as $7 a barrel to Dated Brent on a delivered basis, according to people familiar with the matter, who asked not to be identified discussing sensitive information. The offer is for cargoes loading in December and arriving in January, they added. Most Indian refiners have skipped placing orders for Russian crude that would arrive after…
China is offering Germany collaboration in the field of what it calls new energy, along with other industries, including intelligent manufacturing, hydrogen, biomedicine, and “intelligent driving”, per Xinhua.The offer came from Chinese Premier Li Qiang on the sidelines of the G20 meeting this weekend, with the top official urging the German leadership to “practice a rational and pragmatic China policy,” per the Chinese state news agency.“China is willing to work with Germany to seize development opportunities and exploit innovative cooperation with an open attitude,” Xinhua also reported, citing the Premier’s statement.Relations between European countries and China have been fraying recently,…