Middle East
Oil tankers continue Red Sea movements despite Houthi attacks
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants.
ADNOC makes strategic investment in Storegga, broadening its carbon management portfolio
ADNOC announced it has taken a 10.1% equity stake in Storegga to become a lead investor in the UK-based company that focuses on the development of global carbon capture and storage projects.
Iran's oil trade with China stalls as Tehran demands higher prices
China's oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world's biggest crude importer.
OPEC December oil output rises by 70,000 bpd
OPEC and allies, known as OPEC+, agreed to cut their output target by 2 million barrels per day from November 2022 through 2023. As part of this, the 10 OPEC members bound by the deal had a target to produce 25.416 million bpd.
China's Rongsheng, Saudi Aramco in talks to buy stake in each other's units
Chinese privately-controlled refiner Rongsheng Petrochemical and Saudi Aramco are in talks for the Chinese company to buy a 50% stake in the Saudi company's refining unit SASREF.
Oil climbs as supply concerns deepen with Libyan oilfield disruption
Oil benchmark Brent rose by around a $1 a barrel, after reports of a disruption to Libya's top oilfield added to supply concerns emanating from tensions in the Red Sea.
India turns to Saudi as purchases of Russian oil fall in December
India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low, with at least five cargoes of the sweet Sokol variant heading to other locations, data from vessel tracking agencies showed.
Europe-bound diesel, jet fuel cargoes divert from Red Sea
At least four tankers transporting diesel and jet fuel from the Middle East and India to Europe are taking the longer route around Africa to avoid the Red Sea, ship tracking data show.
Asian refiners face diesel supply glut in 2024
Diesel supply in Asia is set to jump in 2024 fueled by new refineries in the Middle East and robust exports from China, and is likely to outpace the region's world-leading demand growth.
Brazil's Petrobras mulls Mubadala refining partnership
Brazilian state-run oil company Petrobras said it will analyze a proposal from Abu Dhabi sovereign investor Mubadala on creating a strategic refining and biorefining partnership in the northeastern state of Bahia.
- Fire at Russian petrochemicals plant kills at least three 4/2
- NH3 Clean Energy selects Linde to deliver FEED for the WAH2 project 4/2
- Phelan Green selects Honeywell process technology for flagship South African eSAF facility 4/2
- Metafuels secures Dutch government grant to advance Rotterdam eSAF project 4/2
- Topsoe partners with Hynfra P.S.A. to advance green ammonia in Jordan 4/2
- China calls for independent refiners to maintain fuel output amid war disruption 4/2
