Crude oil

Oil from U.S. reserves sent overseas as gasoline prices stay high

More than 5 MM barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month.

India to drop windfall tax if oil prices fall $40 a barrel

India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels.

Production at Venezuela's largest refinery hit by blackout

Production at Venezuela's largest refinery, which can process about 645,000 barrels of oil per day (bpd), was halted late on Saturday by an electrical fault that caused a blackout.

The downstream rundown: In case you missed it 7/1

In case you missed any downstream news, this piece will give you a summary of some of the top stories from last week.

Oriente crude exports suspended, Napo flowing amid force majeure

Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output.

The downstream rundown: In case you missed it 6/24

In cased you missed any downstream news, here are the top stories from last week.

Novoshakhtinsk refinery resumes operations after fire

The Novoshakhtinsk oil refinery in the south of Russia resumed operations after a fire caused by a drone attack on June 22.

Japan's gasoline demand almost at pre-pandemic levels after subsidy

The head of the Petroleum Association of Japan (PAJ) said the country's subsidies for gasoline had helped restore demand close to pre-pandemic levels in May and June.

Brazil's Petrobras buys first cargo of Guyanese crude for refining

Petrobras has bought its first cargo of Guyanese crude for refining domestically as South America's newest producer expands its market reach.

Surge in U.S. renewable diesel supply won't offset loss of petroleum diesel

A flood of U.S. renewable diesel plants set to come online in the next three years will not be enough to offset the loss of petroleum diesel refining capacity from plant closings since 2019.