International

Continued weaker demand for hybrid vehicles slowed the growth in China’s new energy vehicles to 12% in July from nearly 20% in June, according to official Chinese data published on Friday. Overall Chinese car sales also saw slowing growth last month, as the government is trying to tackle the overcapacity …

Russia’s Urals crude grade, which usually goes from the western Russian ports to India, is now being offered at discounts in China amid uncertainties over Indian purchases of Moscow’s oil following the additional tariffs. Spot Urals shipments going to China would be a significant re-routing of the Russian oil export …

U.S. President Donald Trump on Monday said he would “substantially raise tariffs” on Indian exports in response to the country’s continued import and resale of Russian crude oil. The remarks, posted on Truth Social, marked the first time Trump directly tied trade penalties to India’s energy sourcing decisions, according to …

Tankers loaded with Russian crude that had stayed idle off India’s coast for days discharged their cargo at Indian oil import terminals over the weekend, in defiance of the U.S. threats of additional “penalties” on the world’s third-largest crude importer for buying Russian oil. While Indian refiners last week were …

Private Chinese oil companies are expanding their presence in Iraq, joining China’s state majors in pouring billions into the development of hydrocarbons in the OPEC member. Per a Reuters report, Chinese independents in Iraq are about to see their collective output there rise to half a million barrels daily by …

A Kazakh appellate court has sided with the international oil majors operating the Kashagan oilfield, overturning a massive $4.2 billion environmental fine over sulfur storage practices. The North Caspian Operating Company (NCOC)—a consortium that includes Eni, Shell, ExxonMobil, and TotalEnergies—hailed the decision as confirmation that their sulfur handling meets both …

Chevron Corporation beat Wall Street estimates of its second-quarter profit as Permian production surged and U.S. and worldwide oil and gas output jumped to record highs. Chevron reported on Friday adjusted earnings of $3.1 billion, or $1.77 per share, for the second quarter of 2025, compared to adjusted earnings of …

The U.S. has sanctioned a fourth oil import terminal in China for receiving Iranian oil cargoes as the State Department expanded sanctions against entities involved in trade with Iran. The U.S. Department of State designated a fourth China-based crude oil and petroleum products terminal, Zhoushan Jinrun Petroleum Transfer Co Ltd, …

India’s state-run refiners have requested urgent guidance from the government in New Delhi following a social media post by U.S. President Donald Trump, reported by AP News, announcing a 25% tariff on Indian exports to the United States effective August 1, and warning of an additional penalty tied to India’s …

The global diesel market is entering a new phase of structural tightening, with fresh EU sanctions targeting refined fuels from Russian crude force a realignment of trade flows across Asia, the Middle East, and Europe. Under measures confirmed on Monday by EU officials, imports of diesel and gasoil processed in …