Crude oil

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019

Aramco acquired Motiva Trading in 2023 and became the sole supplier of Motiva Enterprises, which owns the 640,500-bpd refinery in Port Arthur, Texas, the largest in the United States.

U.S. seeks forfeiture of oil tanker and 1.8 MMbbl of Venezuelan oil

The oil supertanker was seized by the U.S. near Venezuela in December as part of a pressure strategy against President Nicolas Maduro, who was captured in a U.S. military operation on January 3.

Eni can now receive oil from Venezuela as payment for gas, CEO says

Chief Executive Claudio Descalzi, who confirmed that Venezuela owes the Italian group around $3 B, was referring to natural gas from the Perla offshore field, the only active offshore gas project in Venezuela, which is operated by Eni and Spain's Repsol.

Angola's state oil firm Sonangol seeks $4.8-B loan from China for refinery

The financing, if completed, will mark the first borrowing by the Southern African oil producer from China since 2017, when it opted to reduce its exposure to resource-backed loans.

EIA: U.S. crude inventories rise the most in 3 yrs as refinery demand slips, imports increase

U.S. crude inventories rose by the most last week since February 2023, as refinery utilization slowed and imports increased, the U.S. Energy Information Administration (EIA) said.

Hungary's Orban asks EU to go verify Druzhba pipeline damage

Hungary this week blocked new sanctions on Russia and the loan to Ukraine, in response to the stoppage of oil flows through Druzhba.

Global diesel flows further reshuffle on EU sanctions, discounted Russian exports

Croatia assessing legality of importing Russian oil, EU says

Croatia is assessing whether it can lawfully import seaborne Russian crude oil to supply to Hungary and Slovakia after the Druzhba pipeline supplying them via Ukraine was damaged.

Kuwait's KPC draws BlackRock, Brookfield, EIG to possible $7-B pipeline deal

BlackRock, Brookfield Asset Management, EIG Partners and buyout group KKR are among those that have shown interest.

UK targets Russia's Transneft in new sanctions on Ukraine war anniversary

The West has imposed tens of thousands of sanctions on Russia, including its oil sector, but has failed to bring Russian oil exports down by any significant amount. China, India and Turkey still buy Russian oil.