Russian Oil Minister Says to Help Iran Sell Oil
Russia will help Iran to arrange shipments of its oil to markets, Russian Energy Minister Alexander Novak said on Tuesday. "Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the Russian market," he said in a statement after signing a five-year memorandum of understanding with his Iranian counterpart Bijan Zanganeh in Moscow. Neither Novak nor the memorandum gave any details on timing or possible volumes. Novak said the deal between the two sanction-hit countries would not violate international obligations. (Reporting by Katya Golubkova; Editing by Erica Billingham)
Gazprom And OMV Chiefs Discuss Alternative European Gas Routes
The chief executives of Gazprom and OMV held talks on Tuesday about supplying Russian gas to Europe using routes that bypass Ukraine, they said in a statement. Gazprom's Alexei Miller and OMV's Gerhard Roiss said they had discussed "optional alternative supply routes" including the Nord Stream and Opal pipelines. Russia's seizure of Crimea from Ukraine - an important transit country for Russian gas - has resulted in European Union and U.S. sanctions, sparking fears of supply cuts that could affect several European countries. Earlier on Tuesday Gazprom said that Russian gas exports to Europe throughUkraine, through which almost half of Russia's Europe-bound gas passes, remained stable despite the standoff between Moscow and Kiev.
Med Crude-Kazakh CPC Strengthens, Azeri Exports to Drop
Kazakh CPC Blend crude strengthened on Tuesday as the outlook soured for the resumption of rival Libyan oil exports and a loading programme showed lower Azeri loadings in May. In the Platts window, oil major Total bid for CPC at dated Brent minus 50 cents, some 20 cents stronger than previous price estimates, but found no sellers, traders said. In the Urals market, Eni offered a cargo in the Baltic at dated Brent minus 75 cents, but found no buyers as the levels were considered too strong. Traders said CPC might be strengthening as the market for light barrels in Europe might be tightening. Azeri Light oil exports will decline in May to 748,000 barrels per day from 818,000 bpd in April, traders said on Tuesday, citing a loading programme.
UPDATE: After Deal, Libya's Ports Prep to Load Oil Tankers
ZUEITINA PORT, Libya/TRIPOLI, April 7 - Libya's Zueitina oil port prepared on Monday to load crude into tankers after the government reached a deal with rebels to reopen four terminals that insurgents have occupied since the summer. The federalist rebels agreed on Sunday to end gradually their eight-month blockade of Zueitina, Hariga, Ras Lanuf and Es Sider ports, which account for around 700,000 barrels per day of the OPEC country's crude exports. Brent crude fell $1.47 to a low of $105.25 per barrel before recovering to $105.72 by 1256 GMT, after news of an end to the port protest removed some of the supply worries affecting the oil market.
Libya's Ports Prepare to Load Oil Tankers
Libya's Zueitina oil port prepared on Monday to load crude on tankers after the government reached a deal with rebels to reopen four terminals that insurgents have occupied since summer. The federalist rebels agreed on Sunday to end gradually their eight-month blockade of Zueitina, Hariga, Ras Lanuf and Es Sider ports, which account for around 700,000 barrels per day of the OPEC country's crude exports. Brent crude fell $1.47 to a low of $105.25 per barrel before recovering to $105.72 by 1256 GMT, after news of an end to the port protest removed some of the supply worries affecting the oil market. "The port is ready to start exporting at the present time or later at any time…
