Economics
Indian refiners await government advice on Russian oil import halt
On Monday, U.S. President Donald Trump announced a trade agreement with Indian Prime Minister Narendra Modi that included halting oil purchases from Russia, but without details on how and when such purchases by India would end.
Record January fuel oil exports from Kuwait's al-Zour refinery weigh on Asian market
The surge in supply from Kuwait, a major fuel oil exporter, will boost availability in bunkering hubs such as Singapore and weigh on prices in Asia.
China's teapots buy Iranian oil to replace Venezuelan supply
Venezuelan shipments to China have fallen sharply since mid-December after U.S. President Donald Trump imposed a blockade on sanctioned ships, part of a campaign against President Nicolas Maduro which culminated in his capture by U.S. forces on January 3.
U.S. lifts some Venezuela sanctions to ease oil sales
The move by the Treasury’s Office of Foreign Assets Control authorizes U.S. companies to buy, sell, transport, store and refine Venezuelan crude oil, but does not lift existing U.S. sanctions on production.
Rising oil, gas and LNG demand draws global traders to India
As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- 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
