Crude oil

India's Bharat Petroleum, HPCL Mittal buy Venezuelan oil

The heavy oil, purchased through two separate deals, is planned to be co-loaded on a very large crude carrier to save on shipping cost, and will boost India's imports of Venezuelan crude to at least 6 MMbbl through April.

MOL sources alternative oil supplies as Druzhba pipeline outage drags

Hungary's MOL group has ordered tankers delivering Saudi, Norwegian, Kazakh, Libyan and Russian oil to supply its Hungarian and Slovak refineries and halted diesel supplies to Ukraine as it scrambles to overcome an outage of the Druzhba pipeline.

Kazakhstan to build a new $10-B, 10-MMtpy refinery

U.S. EPA expected to send 2026 biofuel blending quotas to White House this week

Digital Feature: How decarbonization is transforming the lube oil industry

Japan's oil and gas independence climbs to highest since 2009

The rise to the highest since 2009 is attributed to progress in energy development projects involving Japanese firms and a decline in oil and gas imports.

Hungary asks Croatia for help after Russian oil flows via Ukraine halted

A Russian attack on the Druzhba pipeline in Ukraine on January 27 knocked out flows to Eastern Europe.

U.S. refiner Valero to import up to 6.5 MMbbl of Venezuelan crude in March

Valero was among the first U.S. refiners to resume imports of Venezuelan crude after the United States struck a flagship $2-B oil supply deal with the country's interim government and began to ease sanctions.

Suffocating Western pressure may finally force Russian oil output cuts

Moscow has successfully redirected most of its seaborne crude to China, India and Turkey, often relying on a “shadow fleet” of aging, uninsured tankers to circumvent restrictions while offering steep discounts.

India's Reliance wins U.S. license for Venezuelan oil

A general license authorizes the purchase, exportation, and sale of Venezuelan-origin oil that has already been extracted, including the refining of such oil.