Tag Archives: Oil Price

Russian crude oil exports by sea continue to rise as heavy domestic refinery maintenance leaves more crude available for export. Russia exported on average 3.47 million barrels per day (bpd) of crude in the four weeks to October 20, up by 140,000 bpd compared to the four-week average to October …

The EU’s natural gas storage is already at 95% full, data from Gas Infrastructure Europe show, after the bloc reached in August its target to have 90% full storage well ahead of its self-imposed binding deadline, November 1. In the middle of August, the EU reached its target of filling …

Indonesia plans to cut red tape to encourage oil and gas exploration as it looks to revive its domestic oil and gas industry and boost energy security, the new government and president have said. “We must have energy self-sufficiency and we are capable to be self-sufficient,” newly sworn-in President Prabowo …

Saudi Aramco’s chief executive Amin Nasser has called for what he dubbed a reset in the transition plans for developing countries, citing strong projected growth in oil demand for the Global South. Developing economies are growing and living standards are rising, Nasser said today at the Singapore International Energy Week, …

As the U.S. strives to develop stronger regional supply chains for several key components supporting the green transition, both the U.S. and Mexico are constructing large-scale microchip manufacturing facilities. The U.S. is increasingly looking to move away from its dependence on China for critical minerals and manufactured components vital to …

India is positioning itself for a petrochemical boom, with $87 billion expected over the next decade to meet surging demand. As more of its citizens rise into the middle class, the need for petrochemical-based products—from plastics to fertilizers—is set to soar. According to India’s oil minister, Hardeep Singh Puri, this …

BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 …

TotalEnergies will do extensive turnaround work at its largest integrated refinery complex in Europe in the second half of 2025, sources familiar with the plans told Bloomberg on Friday. TotalEnergies’s Antwerp refining and petrochemicals platform is the French supermajor’s largest integrated complex in Europe. Located in Antwerp, Belgium, right in …

Crude oil refining in China fell to the lowest in three months in September as more refineries closed for regular seasonal maintenance. Even so, oil prices will likely suffer a negative impact from the news, as it also revealed refining since the start of the year was down 1.6%. Chinese …

The UK on Thursday imposed the largest round of sanctions to date against Russia’s shadow fleet, designating additional 18 oil tankers and four LNG tankers as it seeks to cut critical revenues for Vladimir Putin. In June, the previous UK government explicitly targeted vessels identified as belonging to the shadow …