International

Indian state refiner Hindustan Petroleum Corp (HPCL.NS) will lift 45% more oil from Iraq this year to meet its expanded refining capacity, sources familiar with the matter said. The refiner will buy 3.2 million tonnes or about 64,000 barrels per day (bpd) from Iraq this year, up from 44,000 bpd …

Saudi Arabia stressed that oil stability is paramount and said its alliance with the super group of producers has taken measures to ensure energy security. “We believe OPEC+ have done a lot in bringing about stability,” Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday at the Abu Dhabi …

Saudi Arabia’s energy minister said he was unconcerned about oil’s more-than-10% rise this year, even as traders increasingly raise the prospect of prices reaching $100 a barrel. “I’ve always been comfortable,” Abdulaziz bin Salman said to reporters in Dubai on Monday, where he’s attending at Expo event. Brent crude’s climbed …

China’s refinery output hit a record in 2021, up 4.3% from 2020, on robust first-half fuel demand and as refiners ramped up processing to fill a supply gap after a hefty new tax closed loopholes in blending fuel imports. Total refinery throughput last year reached 703.55 million tonnes, or 14.07 …

China has agreed with the United States to release crude from its strategic reserves around the Lunar New Year holiday on February 1, as part of the broader U.S.-led effort for strategic releases to bring oil prices down, sources with knowledge of the talks told Reuters on Friday. “China agreed …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 317 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 5.153 bpd in the first week of January.” The top three source countries …

Akakus oil operations company said oil production at Sharara oilfield had reached 190.000 barrels per day (bpd), adding that operation work was ongoing for the third day in a row by Libyans since the resumption of operations last Monday. The company expected that Sharara oilfield would reach its normal production …

The US has confirmed that it has decided to withdraw support from the EastMed gas pipeline project, which sought to transport Israeli natural gas to the European market via the Mediterranean Sea and Greece. The US Embassy in Athens reiterated its commitment to connecting energy in the Eastern Mediterranean to …

Equinor and its partner Wellesley have discovered oil in the Troll and Fram area in the Norwegian North Sea, following the drilling of the exploration wells 35/10-7 S and 35/10-7 A. The discovery was made at the Toppand prospect, 8km west of the producing Fram field, in production licence 630 …

The annual crude oil output of China’s Bohai Sea oil field reached 30.132 million tons in 2021, accounting for one seventh of the nation’s overall annual crude oil output and becoming the country’s largest oil field, the Xinhua News Agency reported on Sunday. The Bohai Sea oil field is operated …