Category: Oil

OPEC Shuts Down Oil Shipments To U.S. Refiners: Iraqi Oil Surges

U.S. refiners are receiving smaller shipments of oil from members of the Organization of Petroleum Exporting Countries (OPEC) due to the bloc’s production cut agreement, according to a new report by Bloomberg. Weekly crude imports from seven bloc nations dropped by 14 percent last week, the Energy Information Administration said. The fall brings import levels…

China’s Gold PetroYuan Futures Open: Gold Oil Surging To Multi-Year Highs As Over 10 Billion Trades In First Hour

China’s launching of the yuan-denominated oil futures contract will shock those investors who have not been paying attention After all the preparation, all the expectation, cheerleading and doomsaying, China’s Yuan-denominated crude oil futures contract began trading tonight and appears to be off to a good start with well over 10 billion yuan notional traded within the…

China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018: Five ‘Test Runs’ Have Successfully Completed.

The world’s top oil importer, China, is expected to launch its long-awaited and delayed yuan-denominated oil futures contract at the end of March, according to Reuters’ sources. The petroyuan is seen as Beijing’s challenge to the US dollar, the dominant global currency in oil contract settlements. UPDATE March 26, 2018: China’s Gold PetroYuan Futures Open:…

Iraq’s Largest Oil Refinery Complex In Bayji Being Prepared To Be Placed Back Online: Iraqi Oil Sales Surges Surpassing Saudi Arabia As Fastest Growing Market

Iraq began to rebuild its largest oil refinery this week, jumpstarting an effort to reconstruct the country after a three-year war with the [CIA Mossad Proxy Army ISIS aka] terrorist Islamic State, an announcement from the oil ministry said. The Baiji complex should produce 70,000 barrels of oil per day upon completion, ministry spokesman Assem…

China Launching “Petroyuan”

The writing is on the wall for dollar hegemony. As Russian President Vladimir Putin said almost two months ago during the BRICs summit in Xiamen, “Russia shares the BRICS countries’ concerns over the unfairness of the global financial and economic architecture, which does not give due regard to the growing weight of the emerging economies. We are ready to work together with our partners to promote international financial…

Iraq Offensive, Kirkuk Oil Is Now Fully Under Iraqi Military Control: New Oil Pipeline Bypasses US Politically Controlled Kurdistan Region

Iran, Iraq, And Turkey Unite To Block Kurdish Oil Exports: Netanyahu Owes Iraq $1.5 Trillion For Stolen Kirkuk Oil Iraq’s military has effectively gained control of major assets and government buildings in Kirkuk city, and is now set to fully pacify it after overnight clashes at a moment when oil prices rose toward a six month high…

Iraqi Oil Surges 30% To China & 23% To India Surpassing Saudi Arabia As Fastest Growing Market

Iraq is gaining the edge over Saudi Arabia in the world’s fastest-growing oil consumer amid an intensifying race among producers to retain their most-prized markets. Iraq was the top crude supplier to India for a third month in May, shipping 1 million barrels a day, according to shipping data compiled by Bloomberg. Iraqi supplies accounted…

Venezuela “Free Of The Rothschild Dollar Tyranny” Oil Priced In Chinese Yuan

Venezuela published the price of its oil and fuel in Chinese currency on Friday in what it called an effort to free the socialist-run country from the “tyranny of the dollar,” echoing a plan recently announced by President Nicolas Maduro. Maduro last week said his government would shun the dollar after the United States announced…

Tillerson & Exxon: Running Wild In The Middle East ~ The Fascist Promised Land

The currently stateless [Sunni] Kurds sit astride the Iraq-Syria border on land blessed/cursed with oil, other resources, and geopolitical significance. Is it any wonder that mega-corporations and their client states are looking to use the [Sunni] Kurds, stoke conflict, and exploit the situation?

China Boosting Oil Imports From Iran: Philippines Also Joins List of Iran’s Oil Clients

“State refiner Sinopec Corp and state-run oil trader Zhuhai Zhenrong Corp, the two biggest Chinese lifters of Iran’s oil, are set to roll over annual supply agreements with National Iranian Oil Company, with combined volumes of about 505,000 bpd,” media sources disclosed. China’s demand for foreign crude could touch new highs as state-run refiners start…

Iraq Defending Entire World against U.S. Israeli Proxy Army ISIS: Iraqi Foreign Minister Ibrahim Jaafari

TEHRAN (FNA)- Iraqi Foreign Minister Ibrahim al-Jafari underlined the importance of the ongoing battle to retake the strategic northern city of Mosul from the [U.S. Israeli Proxy Army] ISIS terrorist group, saying that the country is defending the entire world against terrorists. “We are not only doing this to defend ourselves; we are doing this…

Syrian Army Launches Offensive Against Israel In Golan Heights

Breaking: GOLAN HEIGHTS, SYRIA (8:05 A.M.) – Minutes ago, the Syrian Arab Army’s 90th Brigade, backed by Liwaa Muwahiddeen (Druze military) and Fouj Al-Joulan (Golani Regiment), launched a surprise offensive in the Al-Quneitra Governorate, targeting the key hilltop of Tal Humiryah inside the Golan Heights. Russia Bombs Israeli Supported Terrorist Base in Golan Heights Netanyahu…