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India’s fuel exports to Europe have soared this year to make India the biggest exporter of refined oil products to the EU as Indian refiners are capitalizing on a loophole in the EU sanctions against Russia, Finland-based Centre for Research on Energy and Clean Air (CREA) said in its monthly …

Over a quarter of U.S. oil production capacity in the Gulf of Mexico remained offline after hurricane Rafael weakened to a tropical storm that the U.S. National Hurricane Center expects to move on south and southwest this week. As of Sunday, over 480,000 bpd in oil production capacity and 310 …

Indonesia and China have signed strategic cooperation agreements in critical minerals in total bilateral deals worth $10 billion encompassing green technology, food security, and mineral resources. The agreements were signed this weekend at the Indonesia-China Business Forum in Beijing, which was the first overseas visit of newly inaugurated Indonesian President …

Russia may be considering the creation of a massive state oil company by combining current state assets Rosneft and Gazprom Neft, and private Lukoil, the Wall Street Journal reported, citing unnamed sources. According to the report, the mechanism discussed is for Rosneft to absorb the two smaller companies, which would …

Beleaguered North African oil producer Libya is set to announce within months its first oil and gas exploration bid round since the civil war began in 2011, Libyan Oil Minister Khalifa Abdul Sadiq told Bloomberg in an interview. OPEC member Libya plans to offer blocks both onshore and offshore in …

European Commission President Ursula von der Leyen said Friday that the European Union may consider replacing Russian liquefied natural gas (LNG) imports with supplies from the United States. “We still get a lot of LNG from Russia and why not replace it by American LNG, which is cheaper for us …

A major natural-gas development in western Libya, valued at up to $5 billion, is facing mounting opposition from government officials and local residents. This highlights the challenges of developing energy resources in the politically fractured nation. The Hamada NC-7 concession, located in Libya’s Ghadames basin, contains an estimated 2.7 trillion …

Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins, but maintained its generous dividend at $31.1 billion for the quarter. Aramco posted net income of $27.6 billion in the three months to Sept. 30, which still beat …

One of Europe’s biggest economies and car markets, Italy, has renewed its push to seek a revision of the European Union’s plans to ban the sales of new combustion-engine cars from 2035, a draft document seen by Bloomberg showed on Thursday. Italy and the Czech Republic have teamed up to …

China’s crude oil imports continue to be weak, with October marking the sixth consecutive month in which crude cargo arrivals have lagged behind the imports in the same months of 2023, official Chinese data showed on Thursday. Last month, China imported a total of 10.53 million barrels per day (bpd) …