Economics

OQ courts other partners for petrochemical complex in Oman as SABIC drops out

Cuba on edge as U.S. seizure of oil tanker puts supply at risk

A U.S. move this week to seize an oil tanker out of Venezuela is poised to make a bad situation worse for a crisis-stricken Cuba already struggling to source enough oil to power its ailing economy and electrical grid.

India imports more Russian crude, but mix of buyers shifts

While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.

Five mega-trends reshaping the global energy and resources landscape in 2025

Opinion: Trump sanctions on Lukoil, Rosneft could reshuffle global oil map

When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly for around two-thirds of Russia’s oil exports, the U.S. struck at the core of the Kremlin’s revenue base.

HF Sinclair forecasts lower CAPEX in 2026 on reduced maintenance costs

U.S. refiners have been focusing on maintenance activities after operating at breakneck capacity in 2022 following supply shortages stemming from Russia's invasion of Ukraine.

EIA: U.S. crude stocks fall, fuel inventories rise on robust refining

U.S. crude inventories fell, while gasoline and distillates stockpiles rose last week amid strong refining activity, the Energy Information Administration said on Wednesday.

Major Asian refiners sell 2026 diesel cargoes at higher premiums

Major Asian refiners have locked in term deals for diesel exports in 2026 at higher premiums to benchmark Singapore prices than this year, supported by firmer prices in November.

Air Products and Yara to partner on low-emission ammonia projects

World-leading hydrogen supplier and global industrial gases company Air Products and world-leading crop nutrition and ammonia company Yara International ASA are working to combine Air Products’ industrial gas capabilities and low-emission hydrogen with Yara’s ammonia production and distribution network.

Opinion: G7’s Russian oil tanker ban shows teeth, but bite is in doubt

The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions.