Crude oil

U.S. begins buying back oil for strategic reserve

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 MM barrel release from the stockpile.

Aramco and TotalEnergies to build $11-B Saudi petrochemicals plant

Saudi Arabian Oil Company (Aramco) and TotalEnergies will join forces to build a new petrochemicals complex in Saudi Arabia, the French energy group said on Thursday.

ExxonMobil starts operations at large-scale advanced recycling facility

The facility at the company’s integrated manufacturing complex in Baytown, Texas, uses proprietary technology to break down hard-to-recycle plastics and transform them into raw materials for new products.

India may split planned mega refinery to various sites

India is considering building several refineries instead of a single mega plant planned with Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), due to challenges in acquiring land.

Russia replaces Iraq as top oil supplier to India in November

Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec. 5 could hit supplies and choke payment avenues, data obtained from trade sources showed.

Oil storage situation in Canada and U.S. after Keystone spill

Six days after TC Energy Corp's Keystone pipeline shut following a 14,000-barrel spill into a creek in Kansas, traders are questioning whether there is enough oil in storage in key areas if the pipeline remains closed for a number of weeks.

The upgrade at PT Pertamina's Balikpapan refinery will increase production to 360 MMbpd

The PT Pertamina (Persero) refinery in the Indonesian town of Balikpapan will increase its production of oil derivatives to 360 MMbpd once its upgrading and improvement works are completed during 2024.

China's December refined oil exports may hit record near 7 MMt

China may close the year with record shipments of key transportation fuels in December as refiners rush to use their export quotas and maximize overseas profits to compensate for tepid domestic fuel demand caused by COVID-related curbs.

TC Energy says has not found cause of Keystone oil pipeline leak

Canada's TC Energy said it has not yet determined the cause of the Keystone oil pipeline leak last week in the United States, while also not giving a timeline as to when the pipeline will resume operation.

Lukoil's Romanian refinery has alternative crude supplies

Romania's Petrotel Lukoil refinery, owned by Russia's Lukoil has found alternative fuel supplies and its petrol stations will not be affected by a ban on Russian imports, Energy Minister Virgil Popescu said on Monday.