Economics

Japan refiners run at two-thirds capacity, awaiting crude from outside the Gulf

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.

Botswana has not requested stake in Lobito refinery, Angola's Sonangol says

Angola has been seeking partners to help finance the delayed refinery — the country's largest and aimed at cutting its reliance on imported fuel — with financing shortfalls and potential partnerships drawing interest from neighbors.

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.

Ireland facing 'very severe' situation due to protester fuel blockades, PM says

Industry group Fuels for Ireland said more than 100 petrol stations had run out of fuel and that number could rise to 500 by tonight.

Europe could face jet fuel crunch within weeks, airports body warns

Air connectivity contributes €851 B ($997.03 B) in gross domestic product annually for European economies and supports 14 MM jobs, with airports handling 26% of Europe's exports by value.

India raises HPCL Rajasthan Refinery project cost to $8.6 B

HPCL Rajasthan Refinery Ltd is a joint venture with HPCL HPCL.NS owning a 74% stake and the rest owned by the state government of Rajasthan.

Slovakia ending diesel fuel export ban, other measures still in place

Slovakia has taken measures to cope with surging global oil prices since U.S. and Israeli strikes on Iran started at the end of February.

Iran ceasefire provides hope, but physical oil markets to remain stressed

Disruptions from the effective closure of the Strait of Hormuz are now working their way through supply chains, and physical markets in Asia are under stress and will remain so for months even if it does reopen fully.

China's teapots seek Iranian oil after prices fall

The Chinese refiners, known as teapots, had largely stayed on the sidelines since the U.S.-Iran conflict broke out in late February, causing global oil prices to surge, while Washington temporarily waived sanctions on Russian, Iranian crude at sea erasing discounts for these cargoes.