Crude oil
UK defers import ban on diesel, jet fuel derived from Russian crude
The decision was criticized by lawmakers in Britain and Ukraine who accused the government of easing pressure on Russia and backtracking on promises to stop Moscow profiting from oil production to fund its war with Ukraine.
Digital Exclusive: The biggest obstacle to the refinery of the future is a mindset shift
Barring a few exemplary cases, refineries continue to rely heavily on manual interventions, reactive maintenance and periodic optimization reviews, leaving enormous value trapped inside their own processes.
China's April oil throughput hits lowest since August 2022, inventories rise
The run cuts were due to negative oil-processing margins, and Chinese independent refineries are expected to deepen the cuts in May despite Beijing urging small refiners to maintain fuel production.
Vietnam receives first cargo of Congo Djeno crude for Nghi Son refinery
The 200,000-bpd refinery had processed crude oil sourced almost entirely from Kuwait, but shipments have been disrupted due to the Iran war, forcing Vietnam to seek alternative suppliers.
Premiums for Russian ESPO Blend oil weaken on poor Chinese refining margins
China and India represent the two biggest markets for Moscow, and the price moves are capping its revenues.
ADNOC signs two strategic collaboration agreements with Indian partners
The agreements build on ADNOC’s expanding partnerships with Indian companies across crude, LNG and LPG supply, as well as energy storage opportunities, supporting India’s growing energy demand and long-term economic growth.
Iran, Ukraine wars deliver worst hit in years to oil refining output
Tightened supply has forced refiners, traders and retailers to tap crude and fuel inventories to meet demand.
Vietnam state oil company urges U.S. Navy to allow tanker through blockade
The U.S. military has expanded its shipping blockade on Iran to include cargoes deemed contraband, although it has said other oil exports from the Gulf are free to sail through.
U.S. EIA concedes Middle East supply disruptions are far worse than prior estimates
Iran's blockade of the Strait of Hormuz continues to wipe off millions of barrels of global oil supply every day the conflict drags on.
Italy's Ludoil buys Sicilian refinery as war squeezes Europe's fuel supply
The Iran war has laid bare Europe's dependency on the Middle East for the supply of jet fuel and other refined products.
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- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
