Crude oil

European diesel refining margins surge as U.S.-Iran conflict escalates

China oil refiners cushioned from Iran conflict with ample Iranian, Russian supply at hand

AFPM to the U.S. EPA: Please, no last-minute RVP waivers in 2026

Druzhba pipeline carried Ukrainian and Russian oil before January attack

Oil shipments to Hungary and Slovakia through the pipeline primarily operated by Russia have been suspended since January 27 following what Kyiv says was a Russian attack on pumping installations in western Ukraine, prompting a dispute within the European Union and efforts by Hungary to block new sanctions on Russia.

Motiva buys cargo of Venezuelan heavy oil for March delivery; first purchase since 2019

Aramco acquired Motiva Trading in 2023 and became the sole supplier of Motiva Enterprises, which owns the 640,500-bpd refinery in Port Arthur, Texas, the largest in the United States.

U.S. seeks forfeiture of oil tanker and 1.8 MMbbl of Venezuelan oil

The oil supertanker was seized by the U.S. near Venezuela in December as part of a pressure strategy against President Nicolas Maduro, who was captured in a U.S. military operation on January 3.

Eni can now receive oil from Venezuela as payment for gas, CEO says

Chief Executive Claudio Descalzi, who confirmed that Venezuela owes the Italian group around $3 B, was referring to natural gas from the Perla offshore field, the only active offshore gas project in Venezuela, which is operated by Eni and Spain's Repsol.

Angola's state oil firm Sonangol seeks $4.8-B loan from China for refinery

The financing, if completed, will mark the first borrowing by the Southern African oil producer from China since 2017, when it opted to reduce its exposure to resource-backed loans.

EIA: U.S. crude inventories rise the most in 3 yrs as refinery demand slips, imports increase

U.S. crude inventories rose by the most last week since February 2023, as refinery utilization slowed and imports increased, the U.S. Energy Information Administration (EIA) said.

Hungary's Orban asks EU to go verify Druzhba pipeline damage

Hungary this week blocked new sanctions on Russia and the loan to Ukraine, in response to the stoppage of oil flows through Druzhba.