Crude oil

U.S. imposes Iran-related sanctions on third China 'teapot' refinery, ports

U.S. President Donald Trump's administration imposed sanctions on a third Chinese independent - or "teapot" - oil refinery, and port terminal operators in China for purchases of Iranian oil.

Venezuela restarts Carbon refinery's FCCU after a year out of service

Venezuela's second largest refinery, Cardon, restarted its fluid catalytic cracker which had been out of service for more than a year due to a failure and lack of raw materials

U.S. sustainable aviation fuel production takes off as new capacity comes online

Sustainable aviation fuel (SAF) production is growing in the U.S. as new capacity comes online. U.S. production of Other Biofuels, the category the U.S. EIA uses to capture SAF, approximately doubled from December 2024 to February 2025.

Repsol and Bunge to boost development of renewable fuels in Europe with intermediate crops

The companies will collaborate to process intermediate crops into low-carbon intensity oils to be used as feedstock for the production of renewable diesel or sustainable aviation fuel (SAF).

Canada's Imperial Oil posts rise in quarterly profit on stronger refining margins

Canadian oil producer Imperial Oil posted a rise in first-quarter profit on Friday, driven primarily by stronger margins in its refining and fuel sales business, sending its U.S.-listed shares up nearly 6% before the bell.

Venezuela loses 20% of oil exports after cargo cancellations to Chevron

Venezuela's oil exports fell almost 20% to some 700,000 bpd in April, the lowest level in nine months, as cargo cancellations to U.S.-based producer Chevron forced ships to return and left some ports empty.

EIA: Oil prices and refinery margins fell slightly in first quarter of 2025

During the first quarter (1Q) of 2025, crude oil prices generally decreased while U.S. refinery margins initially increased before decreasing in the final month of the quarter. In its quarterly update, the U.S. Energy Information Administration (EIA) reviews petroleum markets price developments in 1Q, covering crude oil prices, refinery margins, biofuel compliance credit prices and natural gas plant liquids prices.

EIA: U.S. crude, gasoline stockpiles fall; distillates build last week

U.S. crude oil and gasoline stocks fell, while distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.7 MMbbl to 440.4 MMbbl in the week ended April 25, the EIA said, compared with analysts' expectations for a 429,000-bbl rise.

INEOS CEO Sir Jim Ratcliffe: Carbon tax and high energy costs are killing off manufacturing in Britain

Grangemouth refinery (Scotland) ceases crude oil processing, transitions into import terminal

Scotland's only oil refinery ceased crude oil processing as of Tuesday, operator Petroineos said in a statement, as the site transitions to an import terminal.