Economics
Asia's fuel oil premiums more than double as Russian sanctions spark supply risks
Spot premiums of fuel oil have more than doubled in Asia ever since the U.S. imposed broader sanctions on Russian oil and tankers, clouding the supply outlook.
China's crude oil imports may grow only 1% in 2025, CNPC says
China's crude oil imports will likely rise only 1% this year, and the country's reliance on oil imports is projected to remain at around 70% between 2026 and 2030.
Russian fuel exports fall in 2024 as drone attacks, bans add to sanctions pressure
Russian seaborne oil product exports fell by almost 10% in 2024 after Ukrainian drone attacks damaged major refineries and as higher funding costs and a government gasoline export ban added to pressure from Western sanctions.
India refiners ask ADNOC to offer oil delivered price as freight spikes
Indian state refiners have asked Abu Dhabi National Oil Co. (ADNOC) to offer pricing its crude on a delivered basis as well to manage costs, after fresh U.S. sanctions disrupted supplies and caused freight rates to spike.
Indonesia expects EU to adjust palm oil biofuel stance after EU ruling
Indonesia welcomed a ruling by the World Trade Organization in a case against European Union on palm oil-based biodiesel, expecting the bloc to adjust its regulations to comply with the ruling.
First-ever ammonia and propane co-loaded vessel completes voyage from U.S. to Europe
Trafigura, in collaboration with CF Industries, announced the completion of the first co-loaded ammonia and propane shipment operation of its kind. In early January, the Green Power Medium Gas Carrier (MGC) completed a single voyage from the U.S. to Europe loaded with ammonia from CF Industries and with liquefied petroleum gas (LPG or propane) in separate tanks.
China's vast refining sector faces shakeout as fuel demand peaks
Up to 10% of China's oil refining capacity faces closure in the next 10 yr as an earlier-than-expected peak in Chinese fuel demand crushes margins and Beijing's drive to wring out inefficiency begins to squeeze older and smaller plants.
Global diesel prices spike as U.S. hits Russia with new sanctions
Global diesel prices and refining margins spiked following the latest round of U.S. sanctions on Russia's oil trade on expectations the measures would tighten supplies, according to analysts and LSEG data.
Toyota unit Hino Motors reaches $1.6-B U.S. diesel emissions settlement
Toyota Motor unit Hino Motors has agreed a $1.6-B settlement with U.S. agencies and will plead guilty over excess diesel engine emissions in more than 105,000 U.S. vehicles.
South Korea considering buying more U.S. oil and gas
South Korea is interested in importing more U.S. oil and gas to diversify energy sources and ensure stable supplies given tensions in the Middle East.
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- Russia in favor of extending partial gasoline export ban 5/20
