Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

Oil jumps 5% as Caspian pipeline disruption adds to supply fears
By David Gaffen
March 24, 20223:17 AM GMT+8
Last Updated 4 hours ago. Energy

https://www.reuters.com/business/energy/oil-prices-resume-climb-after-us-stockpiles-drop-tight-market-2022-03-23/

NEW YORK, March 23 (Reuters) - Oil prices jumped 5% to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium (CPC) pipeline added to worries over tight global supplies.
The situation adds to market worries about the ripple effect of heavy sanctions on Russia, the world's second-largest crude exporter, after its invasion of Ukraine.
The CPC pipeline is a significant supply line for global markets, carrying around 1.2 million barrels per day of Kazakhstan's main crude grade, or 1.2% of global demand.

Brent crude futures settled up $6.12, or 5.3%, to $121.60, while U.S. West Texas Intermediate (WTI) crude futures rose $5.66, or 5.2%, to $114.93 a barrel.
Oil benchmarks have been steadily rallying since Russia invaded Ukraine a month ago in what it calls a "special operation" and United States and its allies slapped heavy sanctions on that nation, disrupting worldwide oil trade.
Russia exports between 4 million and 5 million barrels of crude every day, making it the world's second-largest exporter behind Saudi Arabia. Analysts have varying estimates of how much oil will be unable to make it to market.

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Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Post removed.Why?

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Post removed.Why?

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

Oil Prices Jump As European Countries Consider Banning Russian Crude
By Tsvetana Paraskova - Mar 21, 2022, 9:00 AM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Prices-Jump-As-European-Countries-Consider-Banning-Russian-Crude.amp.html

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil.
As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30. 

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Icon Offshore to record higher utilisation for its jack-up rig, OSV, says Maybank IB
By Ayisy Yusof - February 15, 2022 @ 11:14am
https://www.nst.com.my/business/2022/02/771522/icon-offshore-record-higher-utilisation-its-jack-rig-osv-says-maybank-ib

KUALA LUMPUR: Icon Offshore Bhd is likely to record higher utilisation for its jack-up rig and offshore support vessel (OSV) in anticipation of the rising capital expenditure by industry players, said Maybank Investment Bank Bhd (Maybank IB).

Analyst Liaw Thong Jung said Icon Offshore's turnaround story began to gain traction and optimism after securing a short-term jack-up rig contract from ConocoPhillips, following the end of its previous gig (Petrofac) in the fourth quarter (Q4) of 2021.

Icon Offshore recently received a letter of agreement from ConocoPhillips Sarawak for the charter of its jack-up rig - Icon Caren.

The contract, worth an estimated US$9.6 million, will commence in the second quarter of 2022, and the work scope entails drilling three+ine wells for the client's 2022 drilling campaign in Sarawak.
Maybank IB said the contract value equates about US$75,000 to US$80,000 (three+one wells), which appears to be higher than its previous job (Petrofac; US$74,000; eight+three wells).


However, he said it is within the prevailing market's rate, and it did not rule out the possibility of the contract containing some 'add-on' items.
"The contract tenure (three to four months) is shorter than we initially expected but is not a concern, for we expect high extension/new charter prospects for its jack-up rig over the next 12 months."

The research firm said earnings estimates for Icon Offshore remains unchanged, on expectations of a softer quarter-on-quarter outlook for Q4 of 2021.

This was due to seasonal weakness (monsoon) kicks in, but a stronger FY22, it added.

"Overall, its earnings recovery is tracking to expectation, with its drilling ops continuing to be the company's key earnings driver.

"Maintaining high utilisation for its assets (jack-up rig and OSVs) remains its key performance index, followed by its continued cost optimisation exercise, which includes disposal of ageing/ idle OSV assets."

Maybank IB maintained a buy call for Icon Offshore with a target price of 0.16 as the company's turnaround story has begun to gain traction.

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Announcement details
VELESTO ENERGY BERHAD

Description: AWARD OF CONTRACT FOR THE PROVISION OF JACK-UP DRILLING RIGS FOR PETRONAS CARIGALI SDN.BHD (PCSB)
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3242374
1. INTRODUCTION
The Board of Directors of Velesto Energy Berhad (“VEB”) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a Letter of Award from PETRONAS Carigali Sdn. Bhd. (“PCSB”), for the Provision of Jack-Up Drilling Rigs for PCSB (“Contract”).
2. DETAILS
The salient terms of the Contract are as follows:-
2.1 With Contract duration of two (2) years primary period, which is expected to commence in quarter 1 of 2022, with one (1) year plus one (1) year extension option, VED will provide its suite of VEB Group’s NAGA rigs as call out by PCSB subject to the rig availability and suitability based on PCSB’s requirement.
2.2 The details of the VEB Group’s NAGA rigs are as follows:-
RIGS
DETAILS OF RIGS
NAGA 2
Premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.
NAGA 3
Premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.
NAGA 4
Premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.
NAGA 5
Premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.
NAGA 6
Premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet.
NAGA 8
Premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.
3. INFORMATION ON PARTIES
3.1 Information on VED
VED was incorporated in Malaysia under the Companies Act, 1965 on 29 July 2003 and is deemed to be registered under the Companies Act 2016. VED is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development and production in Malaysia and overseas.
3.2 Information on PCSB
PCSB, is a wholly-owned subsidiary of Petroliam Nasional Berhad (PETRONAS), is a leading exploration and production company. PCSB was incorporated in Malaysia under the Companies Act, 1965 on 11 May 1978 and has its registered office at Tower 1, Petronas Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia. The principal activities of PCSB are exploration, development and production of oil and gas.
4. FINANCIAL EFFECTS
The provision of the above-mentioned services subject to call out by PCSB, is expected to contribute to the earnings and net assets of VEB Group during the contract period for the financial periods ending 31 December 2022 and 2023.
5. RISK ASSOCIATED WITH THE CONTRACTS
The risks associated with the execution of the Contract are operational and execution risks, which will be mitigated and/or managed by VED, a company with a proven successful track record of undertaking drilling programmes.
6. DIRECTORS AND SUBSTANTIAL SHAREHOLDERS INTEREST
None of the Directors and/or the substantial shareholders of VEB and/or persons connected with the Directors and/or substantial shareholders have any interest, direct or indirect in the above Contract.
7. STATEMENT BY DIRECTORS
The Board of Directors of VEB is of the opinion that the acceptance of the Contract herein is in the best interest of VEB Group.

This announcement is dated 11 March 2022.

citadel888,
just for your info, i will only top up for each drop of 5 cents...

So, my next top up will be at the price of @0.19

Malaysia will reopen its borders to international travellers on April 1, says PM
By JOSEPH KAOS
Tuesday, 08 Mar 2022 5:44 PM MYT

https://www.thestar.com.my/news/nation/2022/03/08/malaysia-will-reopen-its-borders-to-international-travellers-on-april-1-says-pm

KUALA LUMPUR: Malaysia will reopen its borders to international travellers starting April 1, says Datuk Seri Ismail Sabri Yaakob on Tuesday (March 8).
The Prime Minister said visitors, as well as Malaysian returnees, who are fully vaccinated are not required to undergo quarantine upon arrival.
They, however, must undergo a RT-PCR test two days before departure and a rapid test (RTK) upon arrival.
As for travellers who have not been fully vaccinated, Ismail Sabri said the entry procedures will be explained by Health Minister Khairy Jamaluddin on Wednesday (March 9).
?As part of our ?Transitioning to Endemicity? phase, the government has decided to reopen the country?s borders from April 1.
?This move will revive the country?s economy, especially the tourism industry that has been heavily affected by the pandemic.
?The decision is made based on science and current facts related to Covid-19, as well as the reopening of borders in other countries...