Central Asia

The corporate exodus from Russia considering that its 2022 intrusion of Ukraine has actually cost foreign companies more than $107 billion in writedowns and lost earnings, a analysis of business filings and statements showed. The volume of losses have increased by one 3rd given that the last tally in August last year, underscoring the scale of the financial hit to the business world from Moscow's invasion, as well as highlighting the sudden loss of Western knowledge from Russia's economy. As Russia's intrusion continues amid faltering Western military help, and the granularity of Western sanctions programs boosts, companies still intending to...

Russia has actually asked Kazakhstan to stand all set to provide it with 100,000 tons of gas in case of lacks exacerbated by Ukrainian drone attacks and failures, three market sources informed . Among the sources stated a deal on utilizing reserves for Russia has currently been concurred. Russian and Kazakhstan's energy ministries did not right away respond to requests for remarks. Neighbouring Belarus has actually currently consented to help Russia with gas supply. Drone attacks had actually knocked out some 14% of Russian primary oil refining capability as of end-March. Up until now authorities have said the situation on...

Urals unrefined differentials to dated Brent were unchanged on Wednesday, while more Russian oil refineries were attacked by drones. * Ukraine's SBU security service performed drone attacks on 3 Russian oil refineries in Ryazan, Kstovo and Kirishi overnight as part of a technique to reduce Russia's financial potential, a Ukrainian source informed on Wednesday. * Russia's Ryazan oil refinery shut down two primary oil refining units on Wednesday after a fire brought on by a drone attack, two sources familiar with the situation informed . * An unexpected decline in Russian oil refining may lead to top ups to Russia's...

Russia on Tuesday ordered a. sixmonth ban on gasoline exports from March 1 to keep costs. steady amidst rising need from consumers and farmers and to. permit upkeep of refineries worldwide's 2nd. biggest oil exporter. The restriction, first reported by Russia's RBC, was validated by a. spokeswoman for Deputy Prime Minister Alexander Novak, President. Vladimir Putin's point guy for Russia's large energy sector. RBC, citing an unidentified source, said Prime Minister. Mikhail Mishustin had approved the ban after Novak proposed it. in a letter dated Feb. 21. A 2nd source told that the. choice had been made however the decree...

Urals crude differentials to outdated Brent firmed on Wednesday amid greater rates for the grade in India for cargoes filling early in March, traders said. * Urals discounts narrowed listed below $4 a barrel to outdated Brent on a delivered ex-ship (DES) basis in Indian ports, from minus $ 4-5 a barrel for February loading cargoes, they included. * Shipping costs from Baltic ports to India stood steady at around $7.5 million-$ 8 million per voyage. PLATTS WINDOW * There were no quotes or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Wednesday. NEWS...

Kazakhstan's Tengizchevroil ( TCO) exported about 2,000 metric lots of liquefied petroleum gas (LPG) to Finland by rail last month as the business looks for to broaden in new markets, market sources stated on Tuesday TCO, in which Chevron has a 50% stake, resumed exports of LPG - used as a motor fuel and for family heating - to Finland in November after a seven-year hiatus. At the same time, Kazakhstan cut in half LPG rail transit via Russia to 22,300 loads in January, from 40,300 heaps a year ealrier, in the face of export restrictions introduced to fulfill domestic...

Urals crude differentials to dated Brent were the same on Wednesday, while premiums for Azeri BTC oil alleviated further. * Premiums for Azeri BTC oil continued to compromise amid lower demand for April barrels due to seasonal refinery maintenance in Mediterranean area, traders stated. * Oil loadings from Russia's western ports from March 20-31 are anticipated to exceed 2.5 million barrels per day (bpd) and hit the greatest level since April 2022, according to market and trading sources, along with estimations. * India's Dependence Industries, operator of the world's biggest refining complex, will not buy Russian oil packed on tankers...

Urals crude differentials to dated Brent were steady on Tuesday, while Russia's Lukoil NORSI refinery was knocked out in a significant Ukrainian drone attack. * Industry sources informed on condition of privacy that the main crude distillation system (AVT-6) at NORSI was damaged in the attack, which implies that at least half of the refinery's production is stopped. Lukoil declined to comment. * The NORSI refinery blackout might cause additions to the March loading plan for Russia's western ports, but no additional packing slots have been announced so far, traders said. * The United States is trying to help India...

Urals unrefined differentials to outdated Brent were stable on Tuesday, while the head of Russia's top carrier Sovcomflot said the business's tanker activities were restricted by U.S. sanctions. Sanctions have affected the company's operations, limiting. our location and commercial prospects, Sovcomflot CEO Igor. Tonkovidov informed press reporters. The U.S. enforced sanctions on Sovcomflot on Feb. 23 as. Washington seeks to reduce Russia's earnings from oil sales that. it can utilize to support its military actions in Ukraine. The Majority Of April-loading Urals oil freights have been placed. with end users and trading activity was low, traders stated. The Caspian Pipeline...

CPC Blend crude differentials to outdated Brent firmed on Monday on an offer outside the Platts window, while Russian oil exports from its western ports were modified up 10% in March amid refinery failures, sources stated. * Russia will increase oil exports through its western ports in March by practically 200,000 barrels daily (bpd) against the month-to-month strategy to 2.15 million bpd, and market participants expect an additional boost in exports amid continuous drone attacks on Russian refineries. * A cargo of CPC Blend altered hands outside the Platts window some 95 cents above the most recent rate estimates for...

Urals unrefined differentials were steady on Wednesday, while CPC Blend oil relieved further to dated Brent after a deal and stayed at the lowest levels in 2 months. * Azeri BTC petroleum exports from Turkey's Ceyhan terminal are set at 18.40 million barrels in June compared to 16.50 million barrels in May, according to a loading schedule seen . * CPC Blend's loading plan for June is expected to be launched later this week or early next week. PLATTS WINDOW * Azerbaijan's SOCAR sold to Petroineos 88,000 metric heaps of CPC Mix filling from Yuzhnaya Ozereyevka on May 29 -...

Urals unrefined differentials to dated Brent were unchanged on Monday, while Marchloading freights were provided in the market. Sellers actively provided Urals oil loading from Russian ports in March, though traders did not hurry to make offers as they attempted to approximate possible result from the current U.S. sanctions imposed on Russian oil shipping business Sovcomflot and tankers. The sanctions might increase Russian oil shipping costs and weigh on tanker schedule, traders stated. PLATTS WINDOW There were no bids or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Monday. NEWS * A slump in...

Urals crude differentials to dated Brent were constant on Wednesday, while a freight of CPC Blend was offered in the Platts window above the latest price estimates for the grade, traders stated. * Russia's petroleum exports and transit from its western ports are seen at around 8.2 million loads (2.1 million barrels daily) this month, in line with market projections. * The March packing prepare for Russia's western ports was sluggish to emerge. PLATTS WINDOW * Mercuria used 88,000 tons of CPC Blend for packing March 18-23 at dated Brent minus $3.05 a barrel, but there was no interest. *...