Crude oil

India's Reliance buys Venezuelan oil directly from PDVSA

Since Caracas signed a flagship oil supply deal with Washington after the U.S. capture of President Nicolas Maduro in January, only a small group of companies have been able to buy cargoes directly from PDVSA.

Five EU countries call for windfall tax on energy companies

Such a measure could help fund relief for consumers in the face of high energy prices and be a signal that "we stand united and are able to take action", they said.

Nigeria's Dangote refinery boosts exports to ease Africa's supply crunch

Fuel prices in oil-producing Nigeria have reached record-high levels, industry figures show, as maximum output from Dangote refinery has not offset the impact of high crude prices.

Hormuz closure divides the fortunes of Middle Eastern oil states

The Strait of Hormuz's closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars.

Indian refiners postpone maintenance shutdowns to meet local fuel demand

Indian Oil Corp. and Bharat Petroleum Corp. were among the companies that had planned to shut units at some of their refineries for routine maintenance.

Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction

Brazilian state-run oil firm Petrobras has delivered liquefied petroleum gas auctioned off at high prices, even after President Luiz Inacio Lula da Silva said the government would annul it to protect consumers from fuel spikes.

Ukrainian drone attack shuts crucial unit at Russia's Novo-Ufimsk oil refinery

The CDU-5 distillation unit, which the sources say caught fire, accounts for around 28% of the Novo-Ufimsk refinery's total capacity.

China calls for independent refiners to maintain fuel output amid war disruption

Taiwan's CPC brings naphtha cracker online a week early

U.S. naphtha exports surge to record high on Japanese, Venezuelan buying