Economics
China begins issuing second batch of 2026 crude import quotas to refiners
The newest allocation, combined with a small batch issued in late November, accounts for about 70% of the refiner's total quota for next year.
Ghana's Tema oil refinery restarts after 9-yr shutdown
Refining began on December 19 at the 45,000-bpd refinery, which had been shut since 2017.
Five energy market trends to track in 2026, the year of the glut
This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump's trade wars, the intensified targeting of energy infrastructure in Russia in its war against Ukraine, OPEC’s often perplexing production decisions and the recently threatened U.S. blockade of Venezuela.
Serbia's NIS gets U.S. approval to negotiate sale of Russian stake
The U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on NIS in October, as part of broader measures against Russia's energy sector, after granting a series of waivers since January.
China's teapots boost Russian ESPO buying amid record discounts
Discounts for Russian ESPO Blend crude loading in January have widened to a record $7–$8 per barrel versus ICE Brent upon delivery in Chinese ports, as Western sanctions pressure weighs on the grade.
Gazprom in talks with Hungary's MOL over NIS stake sale
The United States announced sweeping sanctions targeting Russia's oil sector in January over Moscow's war in Ukraine, but, for NIS, their application was postponed several times before finally coming into effect on October 8.
Glencore buys majority stake in Dutch fuel company FincoEnergies
Finco is a major player in the Dutch wholesale fuel market and in the region's biofuels and low-carbon fuel sectors.
bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit
O'Neill, who will take over in April following the abrupt exit of Murray Auchincloss, becomes bp's first external CEO in its more than century-long history and the first woman to lead any of the world's top five oil majors.
- Transitional Industries and CFEnergia sign feedstock supply contract for $3.3-B Pacifico Mexinol project 2/17
- Neste and World Fuel Services extend partnership, expanding SAF availability at more than 100 airports in Europe 2/17
- U.S. refined product exports by tanker increase to > 6.3 MMbpd in January 2/17
- Japan's oil and gas independence climbs to highest since 2009 2/17
- Dangote signs $400-MM equipment deal with China's XCMG to speed up refinery expansion 2/17
- Former Lukoil-owned ISAB refinery in Sicily exits crisis procedure 2/17
