Crude oil

Indian refiners' March crude processing slips 1.8% from a year earlier

India's Russian oil imports in March surged to a record 2.25 MMbpd, and are set to remain near record highs in April and May following a new U.S. waiver allowing countries to buy sanctioned Russian oil at sea for about a month, traders said last week.

Sinopec refinery utilization drops, but chemical exports rise due to Iran war

Sinopec, the world's biggest refiner by capacity, cut refinery utilization rates between January and March by 7.6% on an annualized basis to average at around 83%.

UAE exit strips OPEC of clout, risks bitter price war

The surprise move comes at a time of unprecedented turmoil in energy markets as Gulf oil and gas exports have remained largely paralyzed for two months due to the closure of the Strait of Hormuz, which has muted OPEC’s traditional ability to manage the oil market during times of distress.

UAE to leave OPEC and OPEC+ oil producer groups

The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economy.

Phillips 66 Limited completes acquisition of Lindsey Oil Refinery assets

The transaction comes after the company previously agreed to the deal in January, stating its intention to integrate key assets into its Humber Refinery operations.

Shell to acquire Canada's ARC in output-boosting $16.4-B deal

ARC's production lies near Shell's existing Canadian fields which feed into the LNG Canada plant, in which Shell holds a 40% share and whose liquefied natural gas can reach Asian buyers more quickly than most other North American LNG.

Brazil to start tests for diesel blend containing 20% biofuel in May

U.S.: Trump grants 90-day Jones Act waiver extension to curb energy costs

The move reflects a broader push by the White House to dampen politically sensitive fuel price spikes ahead of November’s midterm elections, where affordability is expected to be a defining issue for voters.

Cosmo tanker could reach Japan on Sunday with first U.S. shipment post-Iran war

The tanker, loaded in Texas (U.S.) on March 22, is due to arrive off Chiba as early as on April 26 via the Panama Canal.

Russian ESPO premiums ease on weak Chinese refining margins

Spot premiums for Russia's Far East ESPO Blend crude oil delivered to China in June have eased as weak refining margins curbed demand from independent refiners.