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What is the outlook for Russian oil output this year?
OPEC maintained its forecast for Russian oil production this year at 10.28mn barrels per day in its latest monthly report, despite the government’s recently announced plan to curtail exports by 500,000 bpd in August.
Lukoil, KMG well in Kazakh Caspian Sea turns up dry, project disbanded
Russia’s Lukoil and Kazakhstan’s Kazmunaygas (KMG) have disbanded a joint venture to explore the Zhenis block in the Kazakh Caspian Sea, in a further disappointment for Astana’s efforts to spur offshore hydrocarbon development.
Kazakhstan transits four times more Russian oil to Uzbekistan
Uzbekistan has started significantly increasing imports of Russian oil through Kazakh pipelines after a long three-year hiatus, Kazakh oil pipeline operator KazTransOil (KTO) has said.
Poland tables coal assets spin-off offer to key utilities
PGE, Tauron, Enea, and Energa received offers from the Ministry of State Assets for the spinoff of their coal-fired generation assets to a new state-owned vehicle.
FSUOGM: Russia to remain OMV’s primary gas source
MEOG: Iraq’s IDC provides drilling update
DMEA: Iran to launch Gachsaran petrochemical plant
AfrElec: World Bank project connects 31,000 households to Malawi power grid since February
EU claims of New Delhi acting as a Russian middleman shrugged off in India
EU officials say bloc needs to crack down on what is essentially the reprocessing and selling on of sanctioned Russian crude oil by New Delhi.
Drought threatens this year’s French grain harvest that will fuel global food inflation
France, the largest wheat exporter in the European Union, is facing the threat of a reduced agricultural output this year due to low rainfall and the risk of drought. The impact of a poor French harvest will ripple out across the world.
World sees record heat waves
According to preliminary data from the World Meteorological Organization (WMO), the world has just experienced the hottest week on record (average July 3-9), reports Statista.
Urals price hits $60 price cap level for first time
The value of Russia's key Urals crude export grade has hit $60/b for the first time since the US-led G7 coalition rolled out its price cap on Moscow's oil. This will pose a challenge for Europe’s shipping industry.
OMV head says his country will continue to source most of its gas from Russia
Alfred Stern, CEO of the Austrian energy group OMV, says his company will continue to source the majority of its natural gas supplies from Russia in the winter of 2023/2024.
Turkey to automatically hike gasoline tax in every six months
Turkey’s ruling Justice and Development Party (AKP) has filed an omnibus bill with Parliament that includes an article to automatically hike the special consumption tax (OTV/SCT) on fuel products.
Kaztransoil says Tengiz oil shipments from Aktau to BTC pipeline soared in Q2 2023
Kazakhstan’s state oil pipeline operator Kaztransoil succeeded in boosting exports of crude from the Tengiz field via Azerbaijan more than 18-fold in Q2 2023.
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