Crude oil

Refiners in India, elsewhere in Asia look to buy Iranian oil after U.S. waives sanctions

The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea, U.S. Treasury Secretary Scott Bessent said.

China's Sinopec will not buy Iranian oil, wants to tap state reserves

The world's largest refiner usually sources roughly half of its crude oil needs from the Middle East, making it particularly exposed to the near-closure of the Strait of Hormuz amid the U.S.-Israeli war on Iran.

Damaged Russian tanker days away from Libyan shores, Italian official says

The tanker is currently in international waters falling under Libya's search and rescue zone, some 53 nautical miles (98 km) north of the capital Tripoli.

India’s Reliance buys about 155,000 bpd Russian oil after pause

The private refiner's overall imports in February rose marginally from last year to 1.37 MMbpd.

China's Sinochem cuts refinery runs, seeks prompt-delivery crude

Sinochem has also been trying to buy spot cargoes from bonded storage for prompt delivery to cover its "immediate" requirements for the 300,000-bpd Quanzhou plant.

Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply

Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.

bp agrees to sell 12-MMtpy Gelsenkirchen refinery to Klesch Group

TotalEnergies starts production at France’s first advanced plastics recycling plant

TotalEnergies has launched France’s first advanced plastics recycling plant, with a capacity of 15,000 tpy, at its Grandpuits site southeast of Paris. This start-up marks another step in the conversion of the refinery into a zero-crude platform.

Jones Act: U.S. waives shipping regulation to ease fuel, fertilizer deliveries

Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. Maritime industry unions support the requirement, which sharply limits the number of tankers available for domestic shipments.

Vance, Wright to meet with U.S. oil trade group, acknowledges 'rough road ahead' on gas prices

The U.S. has already announced plans to release crude oil from the nation's emergency stockpile to reduce energy prices, and on Wednesday said it would issue a 60-day waiver to U.S. shipping regulations ease fuel deliveries to the nation's ports.