Crude oil

KT Tech awarded early engineering works contract for 60,000-tpy SAF plant in Indonesia

IEA: Middle East oil disruptions set to hit Europe in April

More than 12 MMbbl of oil have been lost since the start of the U.S.-Israel war on Iran due to Tehran's attacks on energy assets in the region and restrictions on shipping through the Strait of Hormuz.

Russian oil tanker enters anchorage of Cuba's Matanzas port

Cuba has not received an oil tanker in three ⁠months, according to President Miguel Diaz-Canel, a predicament which exacerbated an energy crisis that has brought repeated blackouts across the country of 10 million people, crippling healthcare, public transportation and farming.

China's smaller independent refiners to curb output on rising oil prices

The so-called teapot refiners had benefited in recent months from cheap stocks of Russian and Iranian crude, but temporary U.S. waivers allowing purchases of Russian and Iranian oil stranded at sea for 30 days have driven prices for those barrels sharply higher as buyers, especially Indian refiners, rush to secure supply.

South Korea to start crude oil swap with local refiners

The policy enables refiners to borrow crude oil from the national reserve and return the same volume once crude shipments secured abroad arrive.

Czech government agrees to release 100,000 tonnes of crude from reserves

The Czech government agreed on Monday to release 100,000 tonnes of crude oil from state reserves as a loan to Orlen's Czech refining operations.

Nigeria's giant oil refinery fails to prevent record gasoline prices

The 650,000-bpd refinery, Africa's largest, became fully operational early this year. It was designed to transform Nigeria into a major exporter of refined products after decades of inadequate refinery capacity.

Mexican navy says petroleum tanker, natural seabed likely caused Gulf coast spill

In coordination with Mexico's state energy company Pemex, authorities are deploying marine barriers to prevent the spill from further damaging wildlife and beaches in the affected areas.

Russia's vast Kirishi oil refinery halts operations after drone attacks

The stoppage is set to exacerbate Russia's oil supply challenges as around 40% of its crude oil exporting capacity has already been shut as a result of drone attacks, seizures of tankers and the Druzhba pipeline closure on the territory of Ukraine.

Philippines launches $333-MM fund to boost fuel security

Under the program, the government plans to buy up to 2 MMbbl of fuel to support domestic supply and purchase refined petroleum products and liquefied petroleum gas.