Crude oil

China's teapots buy Iranian oil to replace Venezuelan supply

Venezuelan shipments to China have fallen sharply since mid-December after U.S. President Donald Trump imposed a blockade on sanctioned ships, part of a campaign against President Nicolas Maduro which culminated in his capture by U.S. forces on January 3.

Valero Energy Q4 profit beats estimates; shares surge

U.S. lifts some Venezuela sanctions to ease oil sales

The move by the Treasury’s Office of Foreign Assets Control authorizes U.S. companies to buy, sell, transport, store and refine Venezuelan crude oil, but does not lift existing U.S. sanctions on production.

Rising oil, gas and LNG demand draws global traders to India

As consumption growth slows in most major economies, trading firm executives told the India Energy Week conference that they see opportunities across crude, refined fuels and liquefied natural gas (LNG).

Advancing clean fuels: Jazan refinery’s gasoline optimization achievement

Indian diesel exports to West Africa jump as EU bans Russian crude-derived fuel

India flags potential for investments of $500 B in its energy sector

VARO completes acquisition of Preem and creates VAROPreem, one of Europe's largest fuels producers

Tanker carrying Venezuelan heavy oil departs to Louisiana (U.S.)

This month, trading houses Vitol and Trafigura received the first U.S. licenses to load and export Venezuelan oil as part of the deal. They have since shipped cargoes to storage terminals in the Caribbean, and from there they have been marketing and selling the crude to refiners worldwide.

India says state-run BPCL to sign $780-MM oil deal with Brazil's Petrobras

Indian refiners are redrafting their oil import strategies, buying more oil from Middle Eastern, African and South American countries to make up for a reduction in Russian oil supplies.