International

China has imported 339.000 barrels a day of Venezuelan oil this year.

The new arrangement will compensate for the stoppages of RIL’s purchases of Iranian and Venezuelan crude following US sanctions on both countries.

US gasoline stocks fell 1.41 million barrels last week to 233.76 million barrels.

Exxon produces around 80.000 barrels of oil and 441 million cubic feet of gas a day in the British North Sea.

OPEC can no longer ignore Russia because of its importance as an oil exporter and its economy.

The outlook for oil demand growth is ".fragile.". with a greater likelihood of a downward revision than an upward one.

China accounts for 85 percent of the world’s production of rare earths.

Three of the oil officials said Exxon had costed the project at higher than Hyundai’s $2.4 billion.

China and Russia have an interest in preventing the complete collapse of Venezuela’s oil industry.

The pipeline’s offshore section is expected to equal about 910 km.