oil exports – Oil & Gas 360

Venezuela’s oil exports stable as buyers in China receive more

June 3, 2025

(BOE Report) – Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to export oil

Iraq to cut oil exports amid OPEC+ pressure to comply with production limits

April 17, 2025

(World Oil) – Iraq plans to cut oil exports next month as OPEC+ presses members to adhere to production targets, according to an official with knowledge of the matter. OPEC’s second-largest producer aims to reduce shipments by roughly 100,000 barrels a day to an average of 3.2 million barrels a day in May, the official said, asking not to be

US orders wind down of Chevron’s oil exports from Venezuela in 30 days

March 4, 2025

(Investing) – WASHINGTON – U.S. President Donald Trump’s administration said on Tuesday it is ending a license that it had granted to U.S. oil producer Chevron (NYSE:CVX) since 2022 to operate in Venezuela and export its oil, after Washington accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns. Chevron will have through April 3 to wind

Drone strike on pipeline could cut Kazakhstan oil exports by 30%, operator says

February 18, 2025

(Reuters) – MOSCOW – Kazakhstan’s oil exports could be cut by 30% for up to two months via its main pipeline due to damage from a Ukrainian drone attack, Russia’s state pipeline operator said on Tuesday. Monday’s attack occurred a day before U.S. and Russian officials met in Riyadh for their first talks on ending the war in Ukraine, as Kyiv and

Russia faces higher costs on sea-borne oil exports due to new US sanctions

January 13, 2025

(Investing) – MOSCOW – Sweeping U.S. sanctions on Russia’s oil industry will make it more expensive for Moscow to sell its oil and complicate sea-borne crude exports due to restrictions on tankers, analysts and traders said on Monday. U.S. President Joe Biden’s administration unveiled the measures targeting Russia’s oil and gas revenues on Friday, in an effort to give Kyiv and

Iran’s oil exports climb to the highest level in 6 years

April 18, 2024

Oil Price Crude oil exports from Iran hit the highest level in six years during the first quarter of the year, data from Vortexa cited by the Financial Times has shown. The daily average over the period stood at 1.56 million barrels, almost all of which was sent to China, earning Tehran some $35 billion. “The Iranians have mastered the art of

Chevron’s Venezuelan oil export hopes hit snag

May 8, 2023

Oil Price Chevron’s plans to increase its crude oil exports from Venezuela have hit a snag, with the sanctioned South American country unable to bear the cost of dredging a key oil export inlet. Chevron’s Venezuela hopes include ramping up crude oil exports from the sanctioned country—but in order to do that, Lake Maracaibo needs to be dredged. And

U.S. oil exports hit record high

December 6, 2022

Oil Price U.S. exports of crude oil and petroleum products hit an all-time high of 11.8 million barrels per day (bpd) last week, The Maritime Executive reports. In the week to November 25, a total of 11.776 million bpd of U.S. crude and petroleum were exported, the latest data from the U.S. Energy Information Administration showed. The jump in American crude and

Oil exports from Iraq’s Basra Port stop—repair could take weeks

September 16, 2022

Oil Price An oil spill has forced a shutdown of all crude oil exports from Iraq’s Basra Port, oil sector sources said on Friday, cited by Reuters. With four tanker berths, the Basra oil terminal can process 3.3 million barrels of crude oil per day, although the country had plans to raise this capacity to 3.45 million barrels per

EXCLUSIVE Russia hikes oil exports from major Eastern port to help offset EU ban

June 7, 2022

Reuters Russia is ramping up oil exports from its major eastern port of Kozmino by about a fifth, aiming to meet surging demand from Asian buyers and offset the impact of European Union sanctions, three sources familiar with the matter told Reuters. Moscow has said it hopes to reroute energy exports from the West to Asia, but doing so via

Saudi Arabia’s making $1 billion from oil exports every day

May 27, 2022

World Oil (Bloomberg) — Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million

Putin says Russia will find new markets as West rejects oil exports

April 13, 2022

World Oil (Bloomberg) — Russia will find new buyers for its oil, natural gas and coal both at home and abroad as some traditional customers reject its deliveries, said President Vladimir Putin. While most countries haven’t imposed direct sanctions on Russian energy sales in retaliation for its invasion of Ukraine, shipments have been curtailed as buyers look elsewhere or grapple

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