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EU Steps back From Impractical Russia Oil Embargo
EU leaders have stepped back from imposing an immediate embargo on Russian crude and petroleum product imports as the impracticality of the policy has become cl…
Sinopec's 2021 Profit More Than Doubled on Higher Oil Prices, Sales
China Petroleum & Chemical Corp.'s 2021 net profit more than doubled to its best level in nearly a decade on higher prices and demand for petroleum products.
TotalEnergies to Halt Russian Oil Purchases by the End of 2022
TotalEnergies has announced it will stop purchasing oil and petroleum products from Russia as soon as possible and by the end of 2022 at the latest.
Biden Walks Tightrope Between Need for Oil and Push to Go Green
With the war in Ukraine causing oil prices to soar, US President Joe Biden's administration is treading a fine line between staying true to its commitment to cl…
Oil & Gas Supply
Oil, Gas Demand Eemains Robust
Although the demand for petroleum products and gas remained robust in the domestic economy and households of Pakistan, the output of crude oil and gas from dome…
Russia’s Oil Output Could Peak In 2023
There are growing doubts as to whether Russia can grow petroleum production to the volumes forecast by Moscow.
Oil & Gas Trade
Hyundai Oilbank to Export Gasoline and Diesel to Hawaii
Hyundai Oilbank announced on Dec. 28 that it has signed a long-term contract to export finished petroleum products to Hawaii.
Oil Prices Rise On Record U.S. Oil Demand
The price of WTI crude rose nearly 2% on Thursday on EIA reports that U.S. implied petroleum products demand had risen to record heights.
Pakistan: Crude Oil Imports Surge 317pc in May
Imports of crude oil increased by a whopping 317 per cent in May which translated into higher than expected production of petroleum products by local refineries…
U.S. Drilling Approvals Increase Despite Biden Climate Pledge
The Interior Department approved about 2,500 permits to drill on public and tribal lands in the first six months of the year
India Urges OPEC+ to Ease Production Cuts
"The price-sensitive Indian consumers are affected by rising petroleum product prices," Pradhan said ahead of a March 4 policy-setting meeting of the Organizati…
Oil & Gas Trade
Video: Kenya Now Exporting Oil to Uganda Through World Class Kisumu Port
The Mv-Uhuru Wagon Ferry was refurbished after 13 years of inactivity and is now transporting petroleum products from the Kisumu Port to Uganda, having made 27 …
U.S. Briefly Became Net Petroleum Importer This Year
The United States briefly returned to being a net importer of crude oil and petroleum products in May and June this year, as U.S. crude oil and refinery output …
Tanzania’s Petroleum Products Market Sees Sizeable Annual Expansion
The liquefied petroleum gas market registered double-digit growth last year as companies and the sector's regulator foster public awareness campaigns on the ben…
Oil & Gas Trade
Azerbaijan's Exports of Petroleum Products Increase by 16% in the First Seven Months of 2020
From January to July 2020, Azerbaijan exported 706,000 tons of petroleum products, valued at US$190 million.