http://www.hydrocarbonprocessing.com Hydrocarbon Processing http://hydrocarbonprocessing.com/news/2026/03/valero-shuts-texas-refinery-after-explosion/ http://hydrocarbonprocessing.com/news/2026/03/indias-reliance-buys-5-mmbbl-of-iranian-oil-after-us-waiver/ Iranian oil, which in recent years has mainly been bought by Chinese independent refiners, is often rebranded as originating from another country. http://hydrocarbonprocessing.com/news/2026/03/iran-war-deals-harder-blow-to-natural-gas-than-oil/ Key gas infrastructure - liquefaction plants in particular - is more complex and expensive to build and repair than the oil equivalent. That means oil refineries can often resume operations more quickly than liquefied natural gas export hubs after a shutdown. http://hydrocarbonprocessing.com/news/2026/03/french-energy-ministry-considers-increasing-oil-refining-capacity/ http://hydrocarbonprocessing.com/news/2026/03/refiners-in-india-elsewhere-in-asia-look-to-buy-iranian-oil-after-us-waives-sanctions/ The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea, U.S. Treasury Secretary Scott Bessent said. http://hydrocarbonprocessing.com/news/2026/03/chinas-sinopec-will-not-buy-iranian-oil-wants-to-tap-state-reserves/ The world's largest refiner usually sources roughly half of its crude oil needs from the Middle East, making it particularly exposed to the near-closure of the Strait of Hormuz amid the U.S.-Israeli war on Iran. http://hydrocarbonprocessing.com/news/2026/03/damaged-russian-tanker-days-away-from-libyan-shores-italian-official-says/ The tanker is currently in international waters falling under Libya's search and rescue zone, some 53 nautical miles (98 km) north of the capital Tripoli. http://hydrocarbonprocessing.com/news/2026/03/india-s-reliance-buys-about-155-000-bpd-russian-oil-after-pause/ The private refiner's overall imports in February rose marginally from last year to 1.37 MMbpd. http://hydrocarbonprocessing.com/news/2026/03/chinas-sinochem-cuts-refinery-runs-seeks-prompt-delivery-crude/ Sinochem has also been trying to buy spot cargoes from bonded storage for prompt delivery to cover its "immediate" requirements for the 300,000-bpd Quanzhou plant. http://hydrocarbonprocessing.com/news/2026/03/prices-for-oil-fuel-cargoes-smash-record-highs-as-iran-war-chokes-middle-east-supply/ Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.