Crude oil

Europe's summer flights at risk as Iran war exposes refining decline

Europe’s oil and gas industry has shrunk dramatically over the past 25 years: North Sea production has dwindled and more than 30 refineries - 16% of refining capacity - have been shuttered across the continent.

Slovak refiner says no deal yet on Adria pipeline tests

The pipeline from Croatia is an alternative oil route to Slovakia and Hungary, and its importance has grown with the Druzhba pipeline - which carries Russian crude and runs through Ukraine - out of operation since the end of January.

Japan's weekly gasoline prices largely flat as subsidies offset price spikes

Japan began to partially release oil stockpiles from March 16 and has also rolled out subsidies to compensate for rising product prices which spiked to all-time highs in mid-March following the U.S.-Israeli war with Iran.

bp's new CEO to simplify company structure into upstream, downstream units

IEA ready to further tap global oil reserves if needed, chief says

The 32-member IEA agreed last month to release 400 million barrels of oil from reserves, the largest-ever coordinated release, in a bid to calm oil markets. The U.S., the world's largest oil and gas producer, agreed to release 172 million barrels from its Strategic Petroleum Reserve.

Russia’s Rosneft diverts oil to Tuapse refinery from drone-hit Novorossiysk port

A Ukrainian drone attack sparked a large fire at the Sheskharis oil terminal in the Novorossiysk port last week, damaging two of its main berths and forcing oil exports from the port to halt.

How China is plugging energy supply gaps left by U.S.-Iran conflict

China secured roughly half of its total imports of crude oil, refined fuels, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) from the Middle East in 2025.

Oil tankers steer clear of Hormuz ahead of U.S. blockade

The move followed the collapse of weekend talks between Washington and Tehran, prompting President Donald Trumpto say on Sunday the U.S. Navy would enforce a blockade targeting vessels entering and leaving Iranian ports, even as Washington stressed it would not restrict transit through the strait itself.

Vietnam's Binh Son refinery has enough crude oil to operate until early July

The 130,000-bpd refinery will buy all crude oil produced domestically for its operations.

Saudi Arabia restores full capacity on East-West oil pipeline to 7 MMbpd after attacks

Saudi said on Thursday the attacks had cut its oil production capacity by around 600,000 bpd and throughput on its East-West Pipeline by about 700,000 bpd.