Russian energy minister Nikolai Shulginov on Friday said there was no reason for a sharp reduction in the country's petroleum products output in response to a European Union embargo, Interfax reported.
Kazakhstan, the world's largest landlocked country, increased oil exports that bypassed Russia last year, but was still heavily reliant on supply channels via its neighbor.
South Korea's S-Oil said on Wednesday it sees regional refining margins in 2023 remaining elevated over pre-2022 levels, though the company posted a loss in the fourth quarter of 2022 on a fall in oil prices during the period.
A proposed EU price cap on Russian diesel may be high enough to allow Moscow to continue exporting the fuel, but in practice could deter big Asian buyers who have become used to buying cheap Russian crude to refine it themselves, analysts say.
Chevron Corp. on Friday posted a record $36.5 B profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.
Independent Russian oil refiner Forteinvest has clinched a deal that will see Russian gasoline sent to Pakistan by land for the first time, two industry sources said on Friday.
Two tankers chartered by Chevron Corp are loading Venezuelan heavy crude at the South American country and should depart in coming days for the United States, according to shipping documents and sources.
Greener fuel is the only way airlines will meet strict global carbon emission targets, executives meeting in Dublin this week agreed, but there's little consensus on who should foot the hefty bill to ramp up production.
The chief executive of oil major TotalEnergies said this week that strikes against France's planned pension reform on Thursday should not disrupt operations at refineries, adding that petrol stations were also prepared for the strike action.
Russia remained China's second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese refiners snapped up low-cost Russian barrels while Western countries shunned them after the Ukraine crisis.