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Increased exports of Chinese petroleum products are threatening the margins of South Korean refiners, already under pressure, in a fragile regional economic context.
Increased exports of Chinese petroleum products are threatening the margins of South Korean refiners, already under pressure, in a fragile regional economic context.
Russia increases fuel oil and VGO exports to Asia. China and Saudi Arabia stand out as the main importers, according to LSEG data.
Russia increases fuel oil and VGO exports to Asia. China and Saudi Arabia stand out as the main importers, according to LSEG data.
Governor Newsom introduces legislation imposing minimum fuel inventories in California to prevent price fluctuations and reinforce market stability.
Governor Newsom introduces legislation imposing minimum fuel inventories in California to prevent price fluctuations and reinforce market stability.
US energy companies continue to reduce their drilling rigs, an indicator of a strategic reorientation despite the recent recovery in oil prices.
US energy companies continue to reduce their drilling rigs, an indicator of a strategic reorientation despite the recent recovery in oil prices.
Chevron Corp. has agreed to pay Richmond $550 million over ten years, thus avoiding a new tax on its local refinery.
Chevron Corp. has agreed to pay Richmond $550 million over ten years, thus avoiding a new tax on its local refinery.
U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
Saudi Aramco confirms allocation of September crude volumes to Asian refiners, with specific adjustments in China.
Saudi Aramco confirms allocation of September crude volumes to Asian refiners, with specific adjustments in China.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.