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But Russia's Accounts Chamber, which oversees budget execution, warned on Monday there were risks the Urals price would fall below $60 in 2024-2026. Russia's forecast sees economic growth of 2.3% in 2024, well above estimates of 1.1% from the International Monetary Fund and 0.5%-1.5% from the Bank of Russia. CHANGING TUNEAt Russia's flagship economic forum in St Petersburg in June, Siluanov said increasing expenditure was difficult, as budget spending had already increased by 1-1/2 times from 2019 to 2022. Now, even as the government outlines plans for spending to jump to 36.7 trillion roubles in 2024, he is more relaxed. Renaissance Capital's Donets and Melaschenko said Russia could create temporary taxes, permanently increase rates of VAT, or adjust Russia's budget rule to permit more spending of energy revenues.

Persons: Evgenia, Anton Tabakh, Vladimir Putin, Anton Siluanov, Denis Popov, Yevgeny Suvorov, Suvorov, Sofya Donets, Andrei Melaschenko, Dmitry Polevoy, Siluanov, Melaschenko, Alexei Sazanov, Sazanov, Konstantin Sonin, It's, Sumanta Sen, Mark Trevelyan, Alexander Marrow, Catherine Evans Organizations: U.S ., Russian, REUTERS, Washington, Finance, International Monetary Fund, Bank of Russia, Capital, Reuters Graphics Russia, University of Chicago, Thomson Locations: Moscow, Russia, Ukraine, West, St Petersburg

☆ Factbox-Iran's Middle East Allies Primed as Israel-Hamas War Rages
▼ + stars: | 2023-10-18 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +5 min

Since the war erupted on Oct. 7, the Iran-backed Lebanese group Hezbollah has already mounted operations against Israel, while others have threatened U.S. interests. Hezbollah has trained paramilitary groups in Syria and Iraq and inspired other forces such as Yemen's Iran-allied Houthis. Other Iran-backed Shi'ite groups backed by Tehran have played a vital combat role in Syria, including groups from Afghanistan and Iraq. Iran-backed forces have deployed across much of government-held Syria during the war, including at the Iraqi border and near the Israeli-occupied Golan Heights. Israel has mounted airstrikes targeting Iranian and Iran-backed forces.

Persons: Israel, Bashar al, Assad, Sayyed Hassan Nasrallah, YEMEN Yemen's, Tom Perry, Edmund Blair Organizations: Palestinian, Hamas, Hezbollah, Israel, Party, Iran's, Guards, United, . Marine, U.S, Popular, Forces, Reuters, SYRIA Iran's Revolutionary Guards, The U.S . Fifth Fleet, Revolutionary Guards, U.S . Navy Locations: BEIRUT, Israel, Tehran, Iran, Lebanese, LEBANON, Lebanon, Syria, Iraq, . Washington, United States, Beirut, IRAQ, U.S, State, SYRIA, Afghanistan, Golan Heights, YEMEN, Gaza, Saudi, Yemen, Saudi Arabia, The, Bahrain, Gulf of Oman

☆ Iran's Middle East allies primed as Israel-Hamas war rages
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Iran's Revolutionary Guards warned on Oct. 17 of further action by Tehran's allies against Israel if it did not cease its attacks. Since the war erupted on Oct. 7, the Iran-backed Lebanese group Hezbollah has already mounted operations against Israel, while others have threatened U.S. interests. Hezbollah has trained paramilitary groups in Syria and Iraq and inspired other forces such as Yemen's Iran-allied Houthis. Other Iran-backed Shi'ite groups backed by Tehran have played a vital combat role in Syria, including groups from Afghanistan and Iraq. Iran-backed forces have deployed across much of government-held Syria during the war, including at the Iraqi border and near the Israeli-occupied Golan Heights.

Persons: Israel, Bashar al, Assad, Sayyed Hassan Nasrallah, YEMEN Yemen's, Tom Perry, Edmund Blair Organizations: Palestinian, Hamas, Hezbollah, Israel, Party, Iran's, Guards, United, . Marine, U.S, Popular, Forces, Reuters, SYRIA Iran's Revolutionary Guards, The U.S . Fifth Fleet, Revolutionary Guards, U.S . Navy, Thomson Locations: BEIRUT, Israel, Tehran, Iran, Lebanese, LEBANON, Lebanon, Syria, Iraq, . Washington, United States, Beirut, IRAQ, U.S, State, SYRIA, Afghanistan, Golan Heights, YEMEN, Gaza, Saudi, Yemen, Saudi Arabia, The, Bahrain, Gulf of Oman

CNN —Greta Thunberg was arrested at a protest outside an oil and gas conference – formerly known as the “Oil and Money” conference – at a luxury five-star hotel in London on Tuesday, eyewitnesses told CNN. But it wouldn’t confirm to CNN that Thunberg was among those arrested. Thunberg and other protestors blocked entrances at the hotel, trying to prevent delegates from entering. We are choking from their fumes.”Greta Thunberg joined protesters during the demonstration which used the slogan: "Oily Money Out." Tuesday’s protest marks the first of three days of action aimed at shutting down the conference, Greenpeace said

Persons: Greta Thunberg, Thunberg, Henry Nicholls, “, ” Organizations: CNN, Money, London’s Metropolitan Police, Intercontinental, Energy Intelligence Forum, Aramco, Free, Getty, Greenpeace Locations: London, London’s Park, Shell, Free London, greenwashing, AFP, Swedish, Malmö, Sweden

☆ Oil falls below $90 a barrel on report of US-Venezuela deal
▼ + stars: | 2023-10-16 | by ( Erwin Seba | ) www.reuters.com time to read: +3 min

U.S. West Texas Intermediate (WTI) crude fell by 0.29 cents, or 0.37%, to $87.30 a barrel. Easing sanctions on Venezuela's oil industry could result in increased oil supply. "It's more of the same on Monday in terms of the conflict in the Middle East being contained from affecting crude oil supplies," said John Kilduff, partner with Again Capital LLC. Both oil benchmarks had climbed nearly 6% on Friday, taking Brent 7.5% higher on the week and WTI up 5.9%. Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020.

Persons: Israel, Brent, John Kilduff, Antony Blinken, Benjamin Netanyahu, Vladimir Putin, Putin, John Evans, Robert Harvey, Yuka Obayashi, Emily Chow, Susan Fenton, David Evans, Deepa Babington, David Gregorio Our Organizations: Monday HOUSTON, . West Texas, Traders, Brent, REUTERS, U.S, Israeli, United, US, Thomson Locations: Venezuela, Gaza, Israel, U.S, Barbados, Palestinian, Cushing , Oklahoma, Rafah, Egypt, Israel's, Russia, Iran, Syria, United States, Moscow, Russian, Saudi, London, Tokyo

☆ Oil prices steady above $90 as investors assess Israel-Hamas war
▼ + stars: | 2023-10-16 | by ( Robert Harvey | ) www.reuters.com time to read: +2 min

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. U.S. West Texas Intermediate (WTI) crude rose by 12 cents, or 0.14%, to $87.81 a barrel. Both benchmarks climbed nearly 6% on Friday, taking Brent 7.5% higher on the week and WTI up 5.9%. The war between Islamist group Hamas and Israel poses one of the most significant geopolitical risks to oil markets since Russia's invasion of Ukraine last year, analysts say. With fears of the conflict escalating, U.S. Secretary of State Antony Blinken will return to Israel on Monday to talk "about the way forward".

Persons: Israel, Brent, Antony Blinken, Hiroyuki Kikukawa, Putin, John Evans, Alexander Novak, Robert Harvey, Yuka Obayashi, Emily Chow, Susan Fenton, David Evans Organizations: REUTERS, Monday LONDON, Brent, . West Texas, Hamas, US, Thomson Locations: Cushing , Oklahoma, U.S, Gaza, Israel, Ukraine, Trading, United States, Moscow, Russian, Saudi, Russia, London, Tokyo

Following the deadly Hamas rampage across southern Israel on Oct. 7, which killed more than 1,300 people, Israel ordered an immediate cut-off of the country’s water supplies to the Gaza Strip. REUTERS/Ahmed ZakotOn Sunday, Israel’s energy minister said that a decision to renew water supplies to parts of southern Gaza was agreed on between Prime Minister Benjamin Netanyahu and U.S. President Joe Biden. On Monday, Hamas said that Israel had yet to resume water supplies for the Gaza Strip despite pledging to do so, while an Israeli official responded that some water was being provided to an area in the south of the enclave. Bar chart comparing the daily water consumption in litres per capita in Gaza and Israel. Map showing 3 desalination plants and 6 wastewater plants in the Gaza Strip.

Persons: Khan Younis, Ahmed Zakot, Benjamin Netanyahu, Joe Biden, Israel, ” Organizations: United Nations, REUTERS, U.S, Health, WHO, Palestinian Central Bureau of Statistics, Water, Palestinian Water Authority, Records, UNSCO Atlas, Sustainable, Resources, Israeli Information Center, Human Rights, World Bank Locations: Gaza, Israel, Sinai, Egypt, B’Tselem, Territories

Reuters reported in July that Indian refiners began using yuan to pay for some oil from Russian sellers, while continuing to use dollars and dirhams to settle most of their Russian oil purchases. Indian refiners buy most of their Russian oil from traders, while making some direct purchases from Russian entities. State-run Indian Oil Corp (IOC.NS), the country's top refiner, has used yuan and other currencies to pay for Russian oil, Reuters reported previously. Private Indian refiners have continued to pay in yuan and other currencies for Russian oil imports, sources said, with most Indian purchases of Russian oil paid in dirham. Indian Oil, BPCL and HPCL and the country's oil and finance ministries did not immediately respond to Reuters' requests for comments.

Persons: Tatiana Meel, Nidhi Verma, Tony Munroe, Simon Cameron, Moore Organizations: REUTERS, European Union, Reuters, Gazprom Neft, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, DELHI, India, Moscow, Ukraine, United States, dirhams, Gazprom, dirham, Hong Kong, China

☆ Oil falls more that $1 a barrel on Venezuela deal hopes
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: +3 min

"The reported deal ... would help to raise the country's oil output from very depressed levels," said William Jackson, chief emerging markets economist for Capital Economics. Monday's falling prices appeared to "a breather to take in events in the Middle East" as opposed to expected production increases in Venezuela, said Andrew Lipow, president of Lipow Oil Associates. "Negotiations with Venezuela could lead to a surge in exports of crude oil that is already in inventory," Lipow said. "It's more of the same on Monday in terms of the conflict in the Middle East being contained from affecting crude oil supplies," said John Kilduff, partner with Again Capital LLC. Heightened tensions in the Middle East may have compounded other risk factors to push prices higher last week, market sources said.

Persons: William Jackson, Jackson, Andrew Lipow, Lipow, John Kilduff, Vladimir Putin, Putin, John Evans Organizations: U.S . West Texas, Capital Economics, Brent, Lipow Oil Associates, Traders, Hamas, LLC, U.S Locations: U.S, Venezuela, Israel, Venezuelan, Gaza, Russia, Iran, Syria, Egypt, Moscow, Russian, Saudi

Israeli forces stand poised to launch a long-promised ground invasion to destroy Hamas, while the U.S. continues its diplomacy blitz to prevent the conflict from widening even as food, water and fuel shortages across Gaza cause a desperate humanitarian situation. It remains unclear, however, whether critical supplies will be allowed back into Gaza and whether the border will open for foreign passport holders. As it stands, the border crossing is closed as the humanitarian crisis worsens for people gathering in southern Gaza – the vast majority women and children. Hospitals in Gaza are expected to run out of generator fuel in the next 24 hours. Over the weekend, Israeli forces and Hezbollah fighters exchanged rocket fire that left at least seven people dead, including four members of Hezbollah.

Persons: Joe Biden, who’s, Benjamin Netanyahu, ” Biden, ” Netanyahu, Biden, Antony Blinken, Blinken, Netanyahu, Matthew Miller, “, ” Miller, Khan Younis Organizations: Israel Defense Forces, United Arab, UN, Associated Press, Lebanon’s Locations: U.S, Gaza, Israel, Colorado, White, Gaza City, Jordan, Qatar, Bahrain, Saudi Arabia, United Arab Emirates, Egypt, China, United States, Rafah, Khan, Lebanon’s Iran, Lebanon

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. Iran's Oil Minister Javad Owji said on Friday oil prices are expected to reach $100 per barrel due to the current situation in the Middle East, according to the ministry's news agency SHANA. If the U.S. tightens enforcement of sanctions on Iran's oil exports due to any role it may have in the conflict, then Iran's oil supply could fall. On the U.S. supply front, drillers this week added four oil rigs in the biggest weekly rise since March, Baker Hughes said.

Persons: Brent, WTI, Israel, Javad Owji, SHANA, Iran's, Hossein Amirabdollahian, Andrew Lipow, Baker Hughes, Stephanie Kelly, Paul Carsten, Katya Golubkova, Andrew Hayley, Marguerita Choy, David Gregorio, Paul Simao Organizations: REUTERS, Companies, . West Texas, Iran's Oil, Hezbollah, U.S, Wall Street, Lipow Oil Associates, The, of, Petroleum, drillers, U.S . Commodity Futures Trading Commission, Thomson Locations: Cushing , Oklahoma, U.S, Gaza Saudi Arabia, Israel, Gaza, Tehran, Lebanese, Saudi Arabia, Moscow, Ukraine, Russia, Iran, China, New York, London, Tokyo, Beijing

☆ Oil climbs as U.S. sanctions, stockpile forecasts, raise supply concerns
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: +2 min

Tatneft is one of the largest Russian public companies with a market capitalization of more than 1.1 trillion rubles at the beginning of 2022. Oil prices rose on Friday after the U.S. tightened its sanctions program against Russian crude exports, raising supply concerns in an already tight market, and global inventories are forecast to decline through the fourth quarter. Russia is the world's second-largest oil producer and a major exporter the tighter U.S. scrutiny of its shipments could curtail supply. "Supply side issues remained the focus in the crude oil market," Daniel Hynes, senior commodity strategist at ANZ, said in a note on Friday, adding that prices during early trade on Friday rose on the stronger U.S. sanctions enforcement. That assumes that there are no further supply disruptions emanating from the Israel-Hamas war," Hynes said.

Persons: Brent, WTI, Daniel Hynes, Hynes Organizations: U.S, . West Texas, Organization of, Petroleum, ANZ, OPEC Locations: Tatarstan, Russia, Tatneft, Brent, Israel, U.S, Moscow, Ukraine, China

☆ Growing tanker fleet, cheaper freight challenge Russian oil price cap
▼ + stars: | 2023-10-13 | by ( Jonathan Saul | ) www.reuters.com time to read: +6 min

It also means that enforcing the price cap will have a limited impact on Russian revenues. Had the oil price been above $60 at the time, sanctions would have severely disrupted Russian exports. However, the price for most Russian oil only rose above $60 in July, which meant traders, shipping companies and Russian exporters had months to prepare. So many vessels are willing to sail loaded with Russian oil that freight rates have fallen - effectively handing Russian producers even more revenues. Freight rates for Russian Urals crude shipments to Asia for October cargoes plunged to the lowest levels since the implementation of the price cap, traders said.

Persons: Shun, Tatiana Meel, Mike Salthouse, Sellers, ” Claire McCleskey, Jonathan Saul, Marguerita Choy Organizations: REUTERS, United Arab, Intelligence, Reuters, International Energy Agency, Shipping, U.S, Link, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, LONDON, refiners, China, India, U.S, Turkey, United Arab Emirates, Moscow, Ukraine, Baltic, Asia, Saudi Arabia, Novorossiysk, East, Africa, Latin America, London, MOSCOW

☆ Global market reaction to a week of war in Israel
▼ + stars: | 2023-10-13 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Below are five charts showing the volatile response of global financial markets to this week's war between Israel and Hamas. 1/TAKING STOCKMSCI's main world stocks index (.MIWD00000PUS) has reacted to the conflict by notching up its best week in almost two months. But that may have more to do with global bond market borrowing costs which - after rising sharply and knocking the confidence of equity markets - have seen their biggest weekly drop since early June. Its more than 3% drop marks its biggest weekly fall since February when concerns about rule of law changes were still raw. Investors use CDS either as a protection tool or to speculate and this week the cost of buying Israel CDS has surged 80%.

Persons: Brendan McDermid, Israel, Brent, Moody's, Fitch, Marc Jones, Mark Potter Organizations: New York Stock Exchange, REUTERS, Federal Reserve, European Central Bank, GAS, Reuters, CDS, Thomson Locations: New York City, U.S, Israel, Iran, United States, Moscow, Ukraine, India

Speaking at an online briefing ahead of next week's U.S.-Japan Energy Security Dialogue, Pyatt also said the United States and its partners in the Group of 7 were committed to denying Russia any energy revenues. "It's very clear to me that Russia is never again going to be viewed as a reliable energy supplier," Pyatt told reporters. "In the case of our G7 partners in particular, we are also committed to work jointly to deny Russia future energy revenues, and target in particular investments and projects growing Russia's future energy revenue," he added. Russia has played down the impact of Western sanctions, saying they are used by the United States to eliminate Moscow as a competitor in global energy supplies. In September, the United States issued fresh sanctions related to Russia's Novatek-led (NVTK.MM) Arctic LNG 2 project in which two Japanese energy firms - Mitsui (8031.T) and JOGMEC - are shareholders.

Persons: Alexey Malgavko, Energy Resources Geoffrey Pyatt, Pyatt, Yuka Obayashi, Miral Organizations: REUTERS, Rights, Energy Resources, Russia, Japan Energy Security, United, Mitsui, JOGMEC, Thomson Locations: Siberian, Omsk, Russia, Washington, Moscow, Ukraine, U.S, United States, Japan

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. US West Texas Intermediate (WTI) crude gained $1.98, or 2.39%, to $84.89 a barrel. "(A) geopolitical risk premium still lingers around the corner that is likely to support oil prices in the short-term," said Kelvin Wong, senior markets analyst at OANDA in Singapore. Russia is the world's second-largest oil producer and a major exporter and the tighter U.S. scrutiny of its shipments could curtail supply. Oil prices also shrugged off data released on Friday showing a month-on-month decline in Chinese crude imports.

Persons: Brent, WTI, Kelvin Wong, Wong, Daniel Hynes, Hynes, Paul Carsten, Katya Golubkova, Andrew Hayley, Christian Schmollinger, Deborah Kyvrikosaios Organizations: REUTERS, U.S, US West Texas, Hamas, OANDA, Organization of, Petroleum, ANZ, OPEC, Thomson Locations: Cushing , Oklahoma, U.S, Brent, Israel, Singapore, East, Russia, Moscow, Ukraine, China, London, Tokyo, Beijing

☆ Oil price spikes on Israel war. Here’s what a wider conflict might mean
▼ + stars: | 2023-10-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. The [attack] itself has no effect on the oil market directly,” Homayoun Falakshahi, a senior oil analyst at data provider Kpler, told CNN. Tighter oil sanctions? Should Washington decide to tighten the sanctions screw once more, “current flows to the global oil market might be compromised,” he added. “That would be a complete game-changer for the oil market,” Falakshahi said.

Persons: Brent, Israel, ” Homayoun, ”, Jon, “, Benjamin Netanyahu, Oded, Donald Trump, Barack Obama, Simone Tagliapietra, Bruegel, —, Tehran —, ” Falakshahi, “ it’s, Tobias Borck, Borck, Artemis Moshtaghian Organizations: London CNN —, Global, CNN, National, United Nations, Hamas, Washington, United Arab, Royal United Services Institute for Defence, Security Locations: Israel, Saudi Arabia, Russia, Iran, Washington, United States, Palestine, Gaza, Tel Aviv, Brussels, Ukraine, Hong Kong, China, Oman, United Arab Emirates, Gulf, Hormuz, Lebanese, Tehran, Shebaa Farms, Lebanon, “

Russian exports of gasoline and cross-border supplies of diesel by rail and road are still prohibited, Deputy Prime Minister Alexander Novak said on Monday. On Sept. 21 Russia temporarily banned most exports of gasoline and diesel to cope with a domestic market shortage, with pipeline operator Transneft (TRNF_p.MM) halting diesel shipments from Primorsk from Sept. 22. TASS news agency cited a spokesman for Transneft as saying that the oil pipeline monopoly had restarted diesel exports on Saturday. Of that, 3.5 million tons of gasoline and 6.6 million tons of diesel were exported by rail, according to the LSEG data. Since the ban was introduced, wholesale diesel prices on the local exchange have fallen by 21%, while gasoline prices are down 10%.

Persons: Vasily Fedosenko, Alexander Novak, Pavel Sorokin, Russia's, Vladimir Soldatkin, Natalia Chumakova, Kirsten Donovan, Susan Fenton Organizations: Irkutsk Oil Company, REUTERS, Baltic Sea's, TASS, RBC, Diesel, Thomson Locations: Russian, Irkutsk Region, Russia, Baltic, MOSCOW, United States, Primorsk, Russian Baltic

☆ Exclusive: Russia’s Lukoil lends Socar $1.5 billion in deal to supply its Turkish STAR refinery
▼ + stars: | 2023-10-05 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +3 min

A general view shows the oil refinery of the Lukoil company in Volgograd, Russia April 22, 2022. Turkey has not imposed sanctions on Russia and continues to import Russian oil and gas. The STAR refinery, however, had to cut Russian crude imports this summer due to complications arising from international financial restrictions on business with Moscow. Neither Lukoil, Socar nor STAR responded to requests for comment. Since cutting imports of Russian oil, it has relied on Kazakh, West African and Iraqi oil grades, according to LSEG data.

Persons: Lukoil, Celeste, Ocean Faye, Socar, Dmitry Zhdannikov, Nailia Bagirova, Kirsten Donovan Organizations: REUTERS, Turkish STAR, Moscow, STAR, Fidelity, Thomson Locations: Volgograd, Russia, Ukraine, MOSCOW, Russian, Turkish, Turkey, Moscow, Urals, Primorsk, Bulgaria, Romania, Dubai, Geneva, Kirkuk, Kazakh, West African, LONDON

☆ Ukraine could soon be a muddy mess, but its new Abrams were made for this fight
▼ + stars: | 2023-10-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +10 min

The first batch of US-provided Abrams tanks have arrived in Ukraine. The heavy tanks are joining the battle just in time for the infamous muddy season, which has bogged down some systems. AdvertisementAdvertisementUkraine's infamous mud season is on the horizon, raising questions about how the country's new Western-made armor, like the heavy US-provided M1A1 Abrams tanks, will perform in the coming muddy mess. AdvertisementAdvertisementAn Abrams tank from 1st Battalion, 8th Cavalry Regiment pulls security during Combined Resolve XIII at the Joint Multinational Readiness Center Hohenfels, Germany, on Feb. 02, 2002. In order to maintain the Abrams' Honeywell AGT1500 engine, Ukraine will need a consistent support and a solid supply chain able to provide sufficient spare parts.

Persons: Abrams, —, Robert Greenway, Volodymyr Zelenskyy, YEVHEN TITOV, George Barros, Vladimir Putin's, Barros, they've, It's, Omar Marques, Mark Cancian, They're, Greenway, Douglas R, Bush, it's Organizations: Service, Hudson Institute, Army, 1st Battalion, 8th Cavalry Regiment, Joint Multinational Readiness Center, US Army, Soviet, Getty, Institute for, ARIS MESSINIS, Nowa, Center for Strategic, International Studies, Marine Corps, Abrams, Honeywell, US Locations: Ukraine, Germany, Russia, AFP, Ukrainian, Bakhmut, Donbas, Southern Ukraine, Kyiv, Kharkiv, Nowa Deba, Poland, Soviet, Soviet Union, Latvia

TASS news agency cited Energy Minister Nikolai Shulginov as saying the government "at all levels" had been discussing partial permission for fuel exports. Europe could also fill some of the gap left by the Russia gasoline ban. Northwest European suppliers, which lost market share in West Africa to Russian supplies this year, could step in, FGE said. Since banning Russian fuel imports, Europe has been seeking suppliers elsewhere, including from the Middle East. As a result, traders said they expected Northeast Asian refiners in China and South Korea to boost diesel exports to Europe.

Persons: Tatiana Meel, Alexander Novak, Vortexa, Nikolai Shulginov, JP Morgan, FGE, Edmund Blair, Mark Potter Organizations: REUTERS, Traders, Kremlin, Kommersant, TASS, Analysts, FGE Energy, WHO, BE, European Union, Gulf, Diesel, Northwest, Competition, Thomson Locations: Nakhodka Bay, Nakhodka, Russia, LONDON, SINGAPORE, Soviet, United States, Ukraine, Europe, Brazil, Turkey, North, West, East, Gulf, gasoil, India, Africa, Kpler, U.S, Gulf Coast, America, West Africa, China, South Korea

☆ South China Sea: Philippines says three fishermen killed after boat rammed by 'foreign' vessel near Scarborough Shoal
▼ + stars: | 2023-10-03 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —Three Filipino fishermen have died after an “unidentified commercial vessel” allegedly rammed their fishing boat near Scarborough Shoal, the Philippine coast guard said Wednesday, compounding tensions in a region of the disputed South China Sea that is already a flashpoint. Philippine President Ferdinand Marcos Jr. said the coast guard is “backtracking and checking all monitored vessels in the area as part of its ongoing investigation,” according to a post on X, formerly known as Twitter. The South China Sea is a 1.3 million-square-mile waterway that is vital to international trade, with an estimated third of global shipping worth trillions of dollars passing through each year. Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Philippine Coast GuardPhotos released by the Philippine coast guard show the scene at Barangay Cato on October 3.

Persons: FFB Dearyn, –, Ferdinand Marcos Jr, ” Marcos Organizations: CNN, Cato, Philippine Coast Guard, Barangay Cato, Philippine Coast Guard Scarborough Locations: Scarborough Shoal, Philippine, China, Pangasinan, Luzon, Beijing, Infanta, Pangasinan province, Philippines, Bajo, Masinloc, Manila, The Hague, South China

"It demonstrates the company's capabilities and readiness to refine different types and complexities of crude oil." Cnergyico conducted due diligence and consulted with external sanctions counsel to ensure the import of Russian oil did not violate sanctions, he said. Last year, Pakistan's total crude imports registered at 154,000 bpd. The government paid in Chinese yuan for its first import of discounted Russian crude, which went to state-owned Pakistan Refinery Ltd (PKRF.PSX). Cnergyico said it expects to make the Russian imports viable through the export of furnace oil to generate foreign exchange.

Persons: Alexander Manzyuk, Cnergyico, Ariba Shahid, William Mallard, Tom Hogue Organizations: REUTERS, Rights, Reuters, Pakistan Refinery Ltd, Bank, United Arab, Thomson Locations: Republic of Tatarstan, Russia, Rights KARACHI, Pakistan, Ukraine, Saudi Arabia, United Arab Emirates, Karachi

☆ South China Sea tensions are flaring between the Philippines and China. Here's why it matters for the world
▼ + stars: | 2023-09-29 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +10 min

Over the past two decades, China has occupied a number of obscure reefs and atolls far from its shoreline across the South China Sea, building up military installations, including runways and ports. Video Ad Feedback Why it matters who owns the seas (April 2021) 03:48 - Source: CNNWhy does the South China Sea matter? The South China Sea is home to hundreds of largely uninhabited islands and coral atolls and diverse wildlife at risk from climate change and marine pollution. The US is not a claimant to the South China Sea, but says the waters are crucial to its national interest of guaranteeing freedom of the seas worldwide. Marcos has strengthened US relations that had frayed under his predecessor, with the two allies touting potential future joint patrols in the South China Sea.

Persons: It’s, China’s, Defense Lindsey Ford, ”, Stringer, Ferdinand “ Bongbong ” Marcos Jr, Jay Batongbacal, “, Marcos Jr, Rodrigo Duterte, Marcos, Gregory Poling Organizations: Hong Kong CNN —, Navy, CNN, US Energy Information Agency, Communist Party, United, US Navy, Defense, Asia, Washington -, Strategic, International Studies, Ford, Spratly Islands, University of the, Philippine Coast Guard, China’s Ministry of Foreign Affairs, Transparency, Philippines Mutual Defense Locations: Hong Kong, South China, China, Beijing, Philippines, United States, South, The Philippines, Malaysia, Vietnam, Brunei, Taiwan, The Hague, Manila, Scarborough, Spratly, People’s Republic of China, Washington, Philippine, University of the Philippines, Asia

☆ ‘Dark’ ships are faking their locations to move oil around the world — and it's likely worth billions of dollars
▼ + stars: | 2023-09-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Maritime technology company Windward identified the area as a hub for smuggling oil. Cargo ships and car ferries cross the Kerch Strait, an area of "dark activity," according to marine technology company Windward. So that's definitely moved that focus into, okay, I'm now going to manipulate that signal," he told CNBC by video call. This can be done in a number of ways, a Spire spokesperson told CNBC by email. "If you're in the insurance industry, and you're not paying attention to this, you really need to start paying attention," Swift told CNBC by video call.

Persons: John Lusk, Christopher Swift, Foley, Lardner, We're, Lusk, Ami Daniel, Daniel, Good Hope, Iain Goodridge, Spire's, that's, I'm, " Goodridge, OFAC, Swift Organizations: Windward, Europa Press, Getty, Maritime Organization, AIS, Spire Maritime, Government, CNBC, Russia, Anadolu Agency, Venezuela, Spire, U.S . Treasury Department Locations: Morocco, Maritime, Ukraine, U.S, Russia, Kerch, Windward, Arabian, Venezuela, The U.S, East Asia, Angola, Venezuela's, South Africa's, Good, China, Malaysia

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