Crude oil

Philippines

Petron secures 2.5M barrels of Russian crude oil

THE Philippines’ sole oil refinery has secured nearly 2.5 million barrels of Russian crude out of extreme necessity, a stock exchange filing revealed on M…

Philippines

The Philippine President Marcos: PH has enough crude oil until June 2026

President of the Philippines Ferdinand Marcos Jr. on Friday announced that the country has sufficient crude oil supply to last until June 30, 2026.

Crude Oil

Spain to release 11.5M barrels from strategic oil reserves

The Spanish government on Tuesday approved the release of up to 11.5 million barrels of oil from its reserves in a bid to ease supply shortages.Speaking to repo…

South Korea considers importing Russian oil

The South Korean government is pursuing the reintroduction of Russian crude oil imports, suspended since 2022, as the prolonged closure of the Strait of Hormuz …

Hungary to Build New Oil Pipeline with Serbia

Croatian Prime Minister Andrej Plenković stated that Croatia is capable of ensuring crude oil supply to Hungary and Slovakia to address the disruption in oil s…

Supply Risk Premium Rises Following Disruption in Russian Crude Oil Pipeline

Russian pipeline operator Transneft has reduced its system-wide crude intake by approximately 250,000 barrels per day following damage at its Kaleykino pumping …

U.S. Crude Oil Inventories Fall by 9 Million Barrels; Refinery Utilization Rate Reaches 91.0%

The U.S. Energy Information Administration (EIA) released its weekly inventory data for the week ending February 13, 2026, showing that U.S. commercial crude oi…

Western Canada Select Crude Oil Discount Widens to Near One-Year High

The discount for Western Canada Select crude oil relative to the North American benchmark West Texas Intermediate futures widened to its highest level since Jul…

Crude Oil

CNOOC's Offshore Gas Field Cluster Around Hainan Island Achieves Annual Oil and Gas Equivalent Output Exceeding 10 Million Tons

On December 30, CNOOC announced that the cumulative oil and gas equivalent production of its offshore gas field cluster around Hainan Island in 2025 has exceede…

Crude Oil

Egyptian Petroleum Minister Inspects First Exploration Well Operations at New Oil Field in Gulf of Suez

Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, recently visited the Gulf of Suez region to inspect the drilling progress of Well No. 133…

Crude Oil

China’s Largest Offshore Oilfield Reports Record Annual Oil, Gas Output

China National Offshore Oil Corporation (CNOOC) announced on December 21, 2025, that the Bohai Oilfield, the country's largest offshore oil and gas producti…

Crude Oil

Turkmenistan Expands Oil Production at Uzynada Field

Turkmenistan’s Türkmennebit State Concern has achieved a substantial rise in hydrocarbon production at the Uzynada oil and gas condensate field, foll…

Crude Oil

Russia’s Rosneft Reports 70% Fall In 9-Month Net Income

Rosneft (ROSN.MM), Russia's leading oil producer, announced on Friday that its net profit for the first nine months of 2025 dropped sharply by 70% compared …

Crude Oil

Venezuela Approves 15-Year Extension of Russia-Linked Oil Joint Ventures

Venezuela’s National Assembly approved a 15-year extension of the joint ventures between state-owned Petróleos de Venezuela S.A. (PDVSA) and a subs…

Crude Oil

Chevron, Phillips 66, Total Win India’s First Tender to Buy US LPG

Indian state refiners have jointly awarded their first long-term tenders to Chevron, Phillips 66, and TotalEnergies Trading SA to import U.S. liquefied petroleu…