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Crude oil

OPEC leaders make case for fossil fuels at Riyadh climate event

OPEC heavyweights said oil and gas should not be stigmatized in the climate debate and that the industry had a role to play in an orderly energy transition.

Indonesia's Pertamina may seek new Tuban refinery partner due to Rosneft uncertainty

Indonesia may seek a new partner for state-run Pertamina's refinery project in Tuban, East Java, due to uncertainty over its partnership with Russia's Rosneft.

Russia’s Lukoil lends Socar $1.5 B in deal to supply its Turkish STAR refinery

Private Russian oil producer Lukoil will lend Azeri state oil firm Socar $1.5 B as part of a broader deal that will allow Socar's 200,000-barrel-per-day Turkish STAR refinery to process Russian crude again.

Putin orders regulated prices for fuel oil, Russia's export ban stays

Russian President Vladimir Putin has ordered the government to provide state funds to ensure a smooth heating season, including the introduction of regulated prices for fuel oil supplied for household heating in some regions.

Kuwait's Kipic says third refinery at Al Zour oil compound to start operation before end of October

Operations of the third refinery at Al-Zour petroleum complex will begin within a few weeks, "specifically before the end of October."

India buys less Russian oil while Turkey increases its purchases

India's share of Russian Urals oil shipments in September declined from August amid refinery maintenance, while Turkey increased purchases due to a shortage of sour barrels in the Mediterranean.

Saudi Arabia, Russia to continue voluntary oil cuts

Saudi Arabia and Russia said they were continuing voluntary oil cuts to year end as tightening supply and rising demand support oil prices.

Blast at illegal Nigerian oil refinery kills 37 people

At least 37 people, including two pregnant women, were burned to death after a blast at an illegal oil refinery in southern Nigeria.

Spain, IEA back Dutch call to phase out fossil fuel subsidies

Spain's energy minister and the head of the International Energy Agency backed the Netherlands' call for an international coalition to phase out fossil subsidies.

India increases windfall tax on petroleum crude, reduces tax on aviation turbine fuel and diesel

The Indian government increased windfall tax on petroleum crude, while reduced it on aviation turbine fuel and diesel, according to a government notification.