Storage

Canada pledges money, regulatory reform to boost biofuels

EIA: U.S. crude stocks, gasoline and distillate inventories rise

Crude inventories rose by 3.9 MMbbl to 424.6 MMbbl in the week ended September 5, the EIA said, compared with analysts' expectations in a poll for a draw of 1 MMbbl.

Iraq in talks with ExxonMobil on Asian refining capacities

Iraq's state oil company SOMO is in advanced talks with ExxonMobil over a possible agreement to secure storage capacity in Singapore using tanks owned by the U.S. oil major, as well as refinery capacity deals.

Ukraine says it attacks Russian refinery at Ryazan, oil depot at Luhansk

Ukraine attacked Russia's Ryazan oil refinery, the commander of its drone forces, Robert Brovdi, said on messaging app Telegram on Friday, as well as an oil depot in the occupied Luhansk region.

U.S. crude stockpiles rise as refineries begin maintenance

U.S. crude oil inventories rose last week as refineries headed into maintenance season, while gasoline stocks fell ahead of the long Labor Day weekend, data from the Energy Information Administration showed.

EIA: Crude and gasoline inventories fall, distillates rise

Crude inventories fell by 6 MMbbl to 420.7 MMbbl last week, the U.S. Energy Information Administration (EIA) said, compared with analysts' expectations in a poll for a 1.8-MMbbl draw.

China still storing crude oil even as refinery runs rise

Despite the decline in surplus oil, the key point is that refiners are still likely adding to stockpiles, which will allow them to trim imports should prices rise to levels they believe are not justified by market fundamentals.

U.S. crude oil and distillate inventories rise, gasoline stockpiles fall

U.S. crude inventories unexpectedly rose as imports increased, while gasoline stockpiles fell last week, the Energy Information Administration said.

India's Reliance makes rare fuel oil purchase from HPCL

Reliance Industries has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp. The purchases suggest the operator of the world's largest refining complex is diversifying its fuel oil sources as India comes under heavy pressure from the U.S. over its energy ties with Russia.

Indian refiners using term deals as hedge against Russian supply risk

India's state oil refiners will continue to use annual contracts to secure oil supplies and hedge against market volatilities as the future of cheap Russian purchases is in doubt, the oil ministry said in a report to parliament.