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Brazil oil trade focus for Dubai summitEmergent trade opportunities in the oil sector between Brazil and the region will be highlighted at an upcoming conference in Dubai. Platts Oil Markets Middle East Conference 2013, organized by McGraw Hill Financial’s energy More… |
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Fresh US sanctions to trap more Iran oil revenueA little-noticed provision in US sanctions against Iran beginning in February is likely to trap payments abroad for its oil exports running into billions of dollars, sapping Tehran of revenue needed to fund the government. More… |
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China defends Iran oil, warns on nuclear aimsChinese Premier Wen Jiabao defended his country's extensive oil trade with Iran against Western sanctions pressure in comments published on Thursday, and yet also warned Tehran against any effort to acquire nuclear weapons. Wen spoke o More… |
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Credit hurdles remain hindrance to Iran oil tradeOil trade with Iran remains more difficult following tougher sanctions against the Islamic Republic, industry sources said, despite a message from the European Union that such operations are legal. Saras, an Italian oil refiner, said last More… |
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Dubai 'could become major oil trade hub'A surge in oil refining in India and the Middle East could eventually turn Dubai into a trading hub to rival Singapore, but much depends on the emirate's capacity to deal with derivatives for hedging price risk. At the centre of the world' More… |
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Iran may switch to UAE dirhams in oil tradeIran may seek payment for its oil exports to Europe in UAE dirhams rather than euros because tougher EU sanctions could block Iranian transactions in the single European currency, an Iranian official said on Sunday. But the United Arab Emi More… |
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DME woos more oil producersThe Dubai Mercantile Exchange (DME) is seeking more crude oil producers from the Middle East and East Asia to boost its liquidity, even as it continues to woo Saudi Arabia to use it as a marker, its CEO said. Saudi support is crucial to th More… |
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Qatar says debate on dollar oil trade continuesQatar's oil minister said the debate was ongoing on using the US dollar for oil trade or shifting to a basket of currencies, the official Qatar News Agency reported on Wednesday. A long-running debate over the currency used for commodi More… |
