India’s diesel exports loading for Europe hit a record high in September amid open arbitrage for westbound shipments, Reuters reported on Wednesday, citing tanker-tracking data and analysts. Last month, diesel cargoes loading from India and bound for Europe averaged between 280,000 barrels per day (bpd) and 303,000 bpd – or …

The American Petroleum Institute (API) has reported a major inventory build of 12.940 million barrels in U.S. crude inventories, compared to last week’s 4.210-million-barrel draw. Analysts were expecting a build for the week—although a much smaller one of 1.3 million barrels. The total number of barrels of crude oil moves …

U.S.-headquartered oil and gas exploration and production company Kosmos Energy has made a new oil discovery in the U.S. Gulf of Mexico. The oil discovery was made at the Tiberius exploration well, where Kosmos is the operator with a 33.34% working interest while its partners are Occidental and Equinor, each …

Russian Deputy Prime Minister Alexander Novak said that Russia and Saudi Arabia will discuss the oil market situation and oil prices later on Wednesday, news agencies reported, as the Israel-Palestinian conflict rages on. Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman is due to take part in an energy …

A new hub is emerging for ship-to-ship (STS) transfers of Russian oil. In the shadow tanker game of whac-a-mole where some areas make headlines and then fade from view, Israeli maritime artificial intelligence firm Windward has identified an area near the Suez Canal in Egyptian waters as a new spot …

Climate action to reach net zero undermines investment in the oil sector and jeopardises global energy security, warned OPEC. General secretary Haitham al-Ghais took aim at forecasters predicting a drop-off in oil demand this decade, with the cartel engaged in a protracted war of words with the International Energy Agency …

The world’s largest offshore wind farm, the Dogger Bank Wind Farm in UK waters, has achieved first power and started sending electricity to the UK national grid, the developers of the project said on Tuesday, hailing the major milestone at the offshore wind farm whose construction continues. Dogger Bank Wind …

Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26c, or 0.3%, to $87.91 a barrel by 3.12am GMT. US West Texas Intermediate (WTI) crude rose 17c, or 0.2%, to $86.14 a barrel. Brent and WTI …

QatarEnergy and Chevron Phillips Chemical Company (CPChem) have secured $4.4bn financing for the Ras Laffan Petrochemicals project, a world scale integrated polymers complex in Ras Laffan Industrial City. The senior debt financing package comprises commercial and Islamic facilities as well as Export Credit Agency (ECA) financing, QatarEnergy said Monday. The …

The past couple of UN Climate Change Conferences have featured a growing number of fossil fuel lobbyists who almost inevitably end up clashing with climate activists and environmentalists over the role and fate of the fossil fuel industry in the global energy transition. For instance, more than 600 delegates affiliated …