Economics

bp's Gelsenkirchen refinery attracts buyer's interest from Klesch

EU proposes service ban for Russian oil exports in new sanctions package

Russia exports over a third of its oil in Western tankers - mostly to India and China - with the use of Western shipping services.

Mexico seeking way to send fuel to Cuba without being hit by U.S. tariffs

The sources said high-level Mexican officials have been talking to U.S. counterparts in order to gain clarity on the scope of the tariff threat outlined by President Donald Trump in an executive order and see whether there was a way to deliver the much-needed fuel.

Nigeria's NNPC in talks with Chinese company on refinery rehabilitation initiatives

New study details several roadblocks on the way to a net-zero chemical industry

India's Russian oil imports down in January amid trade talks with U.S.

On Monday, U.S. President Donald Trump announced a trade deal with India to cut tariffs to 18% from 50% in exchange for New Delhi halting Russian oil purchases and lowering trade barriers.

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.

Valero Energy Q4 profit beats estimates; shares surge