Emergent 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
A 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.
Chinese 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
Oil 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
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'
Iran 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
The 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
Qatar'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