http://www.hydrocarbonprocessing.com Hydrocarbon Processing http://hydrocarbonprocessing.com/news/2025/12/chinas-2026-first-batch-fuel-export-quotas-steady-year-on-year/ China manages its refined fuel exports via a quota system to balance the supply-demand fundamentals in its local market. http://hydrocarbonprocessing.com/news/2025/12/chinas-teapots-boost-russian-espo-buying-amid-record-discounts/ Discounts for Russian ESPO Blend crude loading in January have widened to a record $7–$8 per barrel versus ICE Brent upon delivery in Chinese ports, as Western sanctions pressure weighs on the grade. http://hydrocarbonprocessing.com/news/2025/12/asia-oil-floating-storage-seen-declining-on-lower-exports-china-buying/ The volume of oil stored on board ships in Asian waters, which has tripled since September to a 3-yr high, is poised to decline as producers of sanctioned oil slow exports and Chinese refiners ramp up buying. http://hydrocarbonprocessing.com/news/2025/12/gazprom-in-talks-with-hungarys-mol-over-nis-stake-sale/ The United States announced sweeping sanctions targeting Russia's oil sector in January over Moscow's war in Ukraine, but, for NIS, their application was postponed several times before finally coming into effect on October 8. http://hydrocarbonprocessing.com/news/2025/12/bp-picks-first-outsider-ceo-meg-oneill-after-abrupt-auchincloss-exit/ O'Neill, who will take over in April following the abrupt exit of Murray Auchincloss, becomes bp's first external CEO in its more than century-long history and the first woman to lead any of the world's top five oil majors. http://hydrocarbonprocessing.com/news/2025/12/us-judge-blocks-michigan-from-shutting-down-enbridges-line-5-oil-pipeline/ The decision comes five years after Michigan Governor Gretchen Whitmer revoked an easement allowing Canadian company Enbridge to operate a 6.4-km (4-mile) stretch of aging pipeline underneath the Straits of Mackinac, which connect Lake Michigan and Lake Huron, citing risks to the environment in the event of a spill. http://hydrocarbonprocessing.com/news/2025/12/cuba-on-edge-as-us-seizure-of-oil-tanker-puts-supply-at-risk/ A U.S. move this week to seize an oil tanker out of Venezuela is poised to make a bad situation worse for a crisis-stricken Cuba already struggling to source enough oil to power its ailing economy and electrical grid. http://hydrocarbonprocessing.com/news/2025/12/china-oil-demand-to-plateau-between-2025-and-2030/ Apparent consumption of oil is expected to reach 760 MMt in 2025, up 0.9% on the year, he added, but demand is set to stabilize next year and stay above 700 MMt until 2030. http://hydrocarbonprocessing.com/news/2025/12/germanys-pck-refinery-says-no-impact-from-pipeline-leak/ PCK said early estimates put the oil spill at 200 m3 (7,000 ft3) over an area of 2 hectares (5 acres) and environmental damage to soil and water was being assessed. http://hydrocarbonprocessing.com/news/2025/12/india-imports-more-russian-crude-but-mix-of-buyers-shifts/ While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.