Oil rises in price on news of the latest European sanctions, Brent exceeded $123 per barrel
19:52 31.05.2022 7554
Oil prices rise on Tuesday morning on the news that the leaders of the countries of the European Union have agreed on a partial ban on the import of Russian oil, Interfax reports.
The cost of July futures for Brent oil on the London ICE Futures exchange by 8:05 Moscow time on Tuesday was $123.32 per barrel, which is $1.65 (1.36%) higher than the closing price of the previous session. Trading in the July contract ends on Tuesday, while the more active August futures price rises by $1.80 (1.53%) to $119.40 per barrel. As a result of trading on Monday, the July contract rose by $2.23 to $119.43 per barrel.
The price of futures for WTI oil for July in electronic trading on the New York Mercantile Exchange (NYMEX) by this time amounted to $118.66 per barrel, which is $3.59 (3.12%) higher than the final value of the previous session. On Friday, the cost of these contracts increased by $0.98 (0.9%), to $115.07 per barrel; trading was not held on Monday due to a holiday in the US.
The heads of state and government of the EU countries agreed on an embargo on two-thirds of the oil supplied from the Russian Federation, said the head of the European Council, Charles Michel.
«There is agreement on a ban on the import of Russian oil into the EU. This will immediately affect more than two-thirds of imported Russian oil», he tweeted.
The decision to impose not a full, but a partial embargo is a compromise, since Hungary, which is heavily dependent on Russian energy, opposed the ban on supplies. Earlier, JPMorgan analysts wrote that a complete rejection of oil from the Russian Federation could increase the price of this fuel to $185 per barrel.
TCOR produced more than 26 thousand tons of liquefied gas in six months
The Turkmenbashi complex of oil refineries, which is one of the largest industrial enterprises in the country, is increasing the volume of certain types of high-quality products in demand both in the domestic and foreign markets.
The next well of the Malay field gave a industrial gas inflow
At the Malay field, as a result of drilling another well, an industrial gas flow with a flow rate of more than 400 thousand cubic meters per day was given. The drilling works were carried out by the foremen of the «Turkmengazburavlayysh» department of the State Concern «Turkmengas».
Leaders of Turkmenistan and China reaffirmed their commitment to the development of comprehensive cooperation
President Serdar Berdimuhamedov, who arrived on a working visit to the capital of Shanxi Province of the People’s Republic of China on May 18 to participate in the Central Asia-China Summit, held talks with Chinese President Xi Jinping in the afternoon, TDH reports.
Gamyshlydzhanebit: 361.4 thousand tons of oil produced in six months
Masters of "black gold" of the oil and gas production department "Gamyshlydzhanebit" make a worthy contribution to the increase in production growth rates at the State Concern "Turkmennebit".
Vladimir Putin: Gazprom management will soon arrive in Turkmenistan
President of the Russian Federation Vladimir Putin announced the imminent visit of the leadership of «Gazprom» to Turkmenistan. The Russian leader said this while answering journalists' questions at the end of the Sixth Caspian Summit, which took place on June 29 in Ashgabat, according to the website of the President of Russia.