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China’s crude oil imports from Saudi Arabia rose 15% in June from a year ago, as refiners ordered record volumes of the fuel in March and April when oil prices tumbled, cementing the kingdom’s position as the top oil supplier to China. Imports from Saudi Arabia rose to 8.88 million …

Unstable global energy demand outlook, combined with looming geopolitical threats, is seeing regional oil and gas producers ramp up transport and storage capacities The fall in oil prices as a result of the impact of the coronavirus epidemic on the Chinese economy has highlighted the fragile state of the world’s …

The US authorities have intensified pressure on European contractors of construction of the Nord Stream 2 gas pipeline recently, treating with “far-reaching” consequences if they continue cooperating with the project, the German Die Welt paper wrote on Saturday with reference to sources. The US authorities have started holding bilateral talks …

Benchmark Brent crude prices have risen by 128% from their April low, remaining above $40 a barrel since the middle of June. But rising supply and faltering demand bode ill for those who want oil prices to keep climbing. The OPEC+ group of oil producers, who have implemented unprecedented output …

An Iranian contractor started laying pipes for a long underwater gas transfer project connecting the Kish Island in the Persian Gulf to the country’s national gas network. The pipeline will link a gas supply terminal in Bandar Aftab, also known as Gerzeh, in the Southern Hormozgan province, to a gas-fired …

Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program, sources familiar with the matter said on Friday, while trading in crude oil options has increased this week ahead of the megadeal, Trend reports citing Reuters. The finance ministry has asked banks for price …

A total of 43 countries including the United States, Japan and South Korea claimed on Friday that North Korea’s imports of oil products so far this year had exceeded an annual ceiling of 500,000 barrels under U.N. Security Council resolutions. The countries made the claim in a document submitted to …

European consumers will benefit from lower gas prices if the underwater pipeline from Russia to Germany, the Nord Stream 2, is completed, energy consultancy Wood Mackenzie said as the US is up in arms trying to stop the project. Analysts expect the price for the blue fuel in Europe to …

India’s oil-to-telecoms conglomerate Reliance Industries surpassed on Friday Exxon as the world’s second most valuable firm doing business in energy after Saudi Arabia’s oil giant Aramco. Reliance Industries is the most valuable company in India and has diversified operations, including oil refining. Its market capitalization hit US$189 billion (14.1 trillion …

The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data. US crude supply to Europe reached nearly 31 million barrels in July, according to Refinitiv Eikon data as …