Posts tagged as Oil

World crude oil prices have fallen between July and August

Thursday, August 26, 2021

World crude oil prices may have fallen slightly between July and August, but the fall is unlikely to reach retail prices at pump, partly because the US dollar’s appreciating against the euro has offset the impact of the oil price fall, one major retailer in Estonia says. Indrek Sassi, motor fuel pricing manager at Circle K, said Thursday that: “World crude oil prices have been volatile in August. The highest…

World oil prices fell early on this week

Wednesday, August 11, 2021

ETV news show ‘Aktuaalne kaamera’ (AK) reported Tuesday night that while world oil prices fell early on this week, an almost immediate rally Tuesday demonstrates how volatile the market is, fuel sellers say. This makes price falls at filling stations of any kind – leave alone to the lows experienced in 2020 – difficult to forecast. At the time of writing, gasoline (95) costs €1.459 per liter at pump –…

PKN Orlen considering project to up crude oil processing in Lithuania

Saturday, July 3, 2021

Orlen Lietuva, a subsidiary of the Polish oil and gas company PKN Orlen, has signed a letter of intent with the Lithuanian Ministry of Energy to increase its oil refining capacity, announced PKN Orlen on Thursday. The company reported that a preliminary analysis of the plan to increase crude oil processing at the Orlen Lietuva refinery in Mazeikiai, Lithuania had been completed. “If the investment decision is made, it will…

Urals oil exports from Baltic ports June 1-5 set to fall 22pc mth/mth

Tuesday, May 18, 2021

Combined Urals exports from the ports of Primorsk and Ust-Luga will decline by 22% in June 1-5 compared to May 1-5, Reuters calculations showed. Russian Urals oil exports from Baltic ports are set to decline to 700,000 tonnes for June 1-5 from 900,000 million tonnes for May 1-5, a schedule seen by Reuters showed. Combined Urals exports from the ports of Primorsk and Ust-Luga will decline by 22% in June…

Oil spill in Lithuania ‘dissipates’ in the Baltic Sea

Tuesday, December 29, 2020

After some two tons of crude had been released into the Baltic Sea on Monday, the oil spill has now disappeared, according to the Lithuanian Navy’s Maritime Rescue Coordination Centre. “The search area was extended to cover the maximum possible drift distance; no [oil] slick was detected,” Eugenijus Valikovas, the center’s head, told BNS. The pollution “was split up into smaller pieces because of the weather conditions, wind and waves,…

Outgoing year successful for oil shale industry in Estonia

Monday, December 28, 2020

It was a successful year for the oil shale industry as the world market price of shale oil remained high. The sector’s future is uncertain as requirements in the green turn remain unclear. Estonia’s leading oil shale company Eesti Energia saw the first year where more oil shale was used to generate shale oil than power, CEO Hando Sutter said. The national energy company will be concentrating on launching a…

Lithuanian customs detain oil, gas equipment bound for Russia

Monday, September 7, 2020

Lithuanian customs officers on Friday detained a shipment of equipment for the oil and gas industry bound for Russia, the Customs Department said. The detained shipment is used of oil drilling, the department said, and it was meant for use at oil and gas fields on the Arctic shelf. The shipment was detained because it contained dual purpose goods that required an export license. Some of the equipment may also…

Belarus to buy Russian oil at ‘global market’ prices

Tuesday, February 11, 2020

Belarusian First Deputy Prime Minister Dzmitry Krutoy has been quoted as saying Minsk will pay “global market” prices for oil from Russia this year. “The Russian side has agreed that Belarusian refineries will buy oil through agreements with Russian oil companies at prices that are set on the global market,” Reuters quoted Krutoy as saying, according to Belarusian state BelTA news agency, on February 9. Belarus is heavily reliant on…

Asian stocks mixed after oil falls, Wall Street advances

Wednesday, September 18, 2019

Asian stock prices were mixed Wednesday after oil prices fell back and Wall Street advanced. Benchmarks in Shanghai and Seoul advanced while Tokyo and Hong Kong slipped. Markets steadied following a decline Tuesday in crude prices that spiked after a weekend attack on a Saudi oil facility. The Saudi oil minister said half of production that was cut already had been restored. “Concerns surrounding elevated oil prices have eased,” said…

Lukashenko: Belarus might import oil through Poland and Baltic states

Monday, September 9, 2019

Belarus might start importing oil through Poland and the Baltic states as an alternative to the Russian oil import if an agreement with Russia is not reached, Belarussian President Alexander Lukashenko told the press yesterday. “We are preparing the northern route. I have openly informed the Russian government about it. Via Poland, via the Baltic states. There is a progress,” BELTA news agency cited the Belarussian president. Lukashenko has resumed…