Refining

India asks refiners for weekly Russian oil import data as it seeks U.S. trade deal

India became the biggest buyer of discounted Russian seaborne crude following the 2022 outbreak of the Ukraine war. But those purchases have fueled a backlash from Western nations, which have targeted Russia's energy sector with sanctions, arguing that oil revenues help fund Moscow's war effort.

Serbia's NIS gets U.S. approval to resume production in its refinery

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) imposed sanctions on NIS in October as part of broader measures against Russia's energy sector after granting a series of waivers since January.

Residual fuel fills Venezuela's storage tanks as exports cut to minimum

Most ships bound for Venezuelan ports for December and early January cargo deliveries have made U-turns, as the blockade spooks even vessels not under sanctions.

Indian Oil buys first Colombian oil under Ecopetrol contract

Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and vessels are disrupting Russian oil imports.

Ukrainian drone attack sparks fire, damages equipment at Tuapse refinery

Tuapse in the Krasnodar region lies in southwest Russia on the Black Sea and about 350 km (218 mi) to the nearest parts of Ukraine’s mainland across the Sea of Azov.

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.

EIA: U.S. crude, fuel inventories rose in the week ended December 19

Monday's data release was delayed over six hours and released after the oil market had closed.

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.

Topsoe’s advanced technology selected for a SAF and renewable diesel project in Uruguay

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.