Asia/Pacific

India's Reliance Industries will consider buying Venezuelan oil

Caracas and Washington have reached a deal this week to export up to $2 B worth of Venezuelan crude, some 30 MMbbl–50 MMbbl, to the United States after U.S. forces captured President Nicolas Maduro on January 3.

U.S. West Coast jet fuel's premium to Asia near its widest in nearly 2 yrs

The premium for prompt U.S. West Coast jet fuel to Asia has reached its widest in nearly 2 yrs, LSEG data showed on Thursday, as refinery outages curbed U.S. supply and slower Chinese demand increased the fuel's availability in Asia.

Larsen & Toubro delivers first feed to HPCL's 3.55-MMtpy LC-Max residue upgrading facility

Chinese refiners expected to replace Venezuelan oil with Iranian crude

Caracas and Washington agreed to export up to $2 B worth of Venezuelan crude to the United States, President Donald Trump said on Tuesday, after U.S. forces captured Venezuelan President Nicolas Maduro over the weekend.

India's January Russian oil imports may fall sharply as Reliance expects no deliveries

India emerged as the biggest buyer of discounted Russian seaborne crude following the start of the Ukraine war in 2022. The purchases have fueled a backlash from Western nations.

China's Hengyi Petrochemical to proceed with Brunei refinery expansion

The expansion aims to enhance Hengyi’s refining and petrochemical capabilities while supporting Brunei’s downstream industrial development.

India asks refiners for weekly Russian oil import data as it seeks U.S. trade deal

India became the biggest buyer of discounted Russian seaborne crude following the 2022 outbreak of the Ukraine war. But those purchases have fueled a backlash from Western nations, which have targeted Russia's energy sector with sanctions, arguing that oil revenues help fund Moscow's war effort.

Indian Oil buys first Colombian oil under Ecopetrol contract

Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and vessels are disrupting Russian oil imports.

China begins issuing second batch of 2026 crude import quotas to refiners

The newest allocation, combined with a small batch issued in late November, accounts for about 70% of the refiner's total quota for next year.

Five energy market trends to track in 2026, the year of the glut

This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump's trade wars, the intensified targeting of energy infrastructure in Russia in its war against Ukraine, OPEC’s often perplexing production decisions and the recently threatened U.S. blockade of Venezuela.