http://www.hydrocarbonprocessing.com Hydrocarbon Processing https://hydrocarbonprocessing.com/news/2026/07/indias-ongc-plans-to-build-13-mmbbl-national-strategic-oil-reserve/ India is enhancing its energy cooperation with countries, including the United Arab Emirates and Japan, to strengthen its emergency stockpile. https://hydrocarbonprocessing.com/news/2026/07/russian-refineries-oil-terminal-tankers-hit-ukraine-says/ Ilsky oil refinery in the Krasnodar region, one of the largest in Russia's south, caught fire and the Ust-Luga oil refining complex in the Leningrad region was also struck. https://hydrocarbonprocessing.com/news/2026/07/tajikistan-says-it-has-60-days-fuel-in-reserve-amid-russian-supply-crunch/ Tajikistan's energy minister said that the country has around 60 days of fuel reserves and is in talks with nearby countries about future supplies, amid acute fuel shortages in major trade partner Russia. https://hydrocarbonprocessing.com/news/2026/07/iea-us-iran-escalation-could-threaten-2027-oil-market-surplus/ Global oil markets received some respite last month as a peace agreement between the U.S. and Iran facilitated the opening of the Strait, the effective closure of which had taken out as much as 14 million barrels per day of crude flows during the peak of the largest oil supply crisis in history. https://hydrocarbonprocessing.com/news/2026/07/eia-the-us-produced-more-crude-oil-than-any-other-country-in-2025/ U.S. crude oil production has been buoyed by continued gains in drilling productivity and operational efficiency across key shale basins, which allow operators to extract more oil per well. https://hydrocarbonprocessing.com/news/2026/07/gasoline-diesel-exports-from-belarus-to-russia-hit-record-high-in-june/ According to the source-based information, gasoline supplies from Belarus to Russia by rail tripled last month from May to over 181,000 metric tons. Exports of diesel in June rose by 1.5 times to over 77,000 tons. https://hydrocarbonprocessing.com/news/2026/07/tanker-traffic-through-hormuz-at-near-standstill-as-attacks-strain-iran-truce/ Shipping industry sources said vessels were increasingly switching off their public AIS tracking transponders, making it harder to see all of the ships crossing. https://hydrocarbonprocessing.com/news/2026/07/vietnam-awards-149-b-refinery-upgrade-contract-to-chinese-consortium/ Under the 37-month contract, the consortium will raise the capacity of the refinery by 15.5% to 171,000 barrels per day. https://hydrocarbonprocessing.com/news/2026/07/indian-bpcl-and-japans-taiyo-oil-buy-us-crude-via-tenders/ Asian refiners had reduced purchases of U.S. crude following the U.S.-Iran ceasefire agreement. https://hydrocarbonprocessing.com/news/2026/07/eia-us-crude-inventories-rise-gasoline-and-distillate-inventories-fall/ Crude inventories rose by 3 million barrels to 411.4 million barrels in the week ending July 3, compared with analysts' expectations in a poll for a 2.4 million-barrel draw.