Crude oil

EIA: Oil prices and refinery margins fell slightly in first quarter of 2025

During the first quarter (1Q) of 2025, crude oil prices generally decreased while U.S. refinery margins initially increased before decreasing in the final month of the quarter. In its quarterly update, the U.S. Energy Information Administration (EIA) reviews petroleum markets price developments in 1Q, covering crude oil prices, refinery margins, biofuel compliance credit prices and natural gas plant liquids prices.

EIA: U.S. crude, gasoline stockpiles fall; distillates build last week

U.S. crude oil and gasoline stocks fell, while distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.7 MMbbl to 440.4 MMbbl in the week ended April 25, the EIA said, compared with analysts' expectations for a 429,000-bbl rise.

INEOS CEO Sir Jim Ratcliffe: Carbon tax and high energy costs are killing off manufacturing in Britain

Grangemouth refinery (Scotland) ceases crude oil processing, transitions into import terminal

Scotland's only oil refinery ceased crude oil processing as of Tuesday, operator Petroineos said in a statement, as the site transitions to an import terminal.

EIA: U.S. imports of major transportation fuels decreased in 2024

U.S. imports of petroleum products decreased by 210,000 bpd in 2024 to average 1.8 MMbpd. Imports of all major transportation fuels, such as motor gasoline, diesel and jet fuel, as well as other products, such as unfinished oils, decreased.

Afreximbank rolls out $3-B credit line to cut Africa's fuel imports

African Export-Import Bank has rolled out a $3-B revolving credit line that will enable African and Caribbean buyers to source petrol, diesel, jet fuel and other products from refineries on the continent more easily.

Sri Lanka to begin talks with India, UAE for new energy hub

Sri Lanka will start work next month on plans to develop an energy hub with India and the United Arab Emirates, as the nation looks to leverage its strategic location to cement a recovery from a financial crisis. 

S-Oil posts refining, petrochemical losses; expects US tariffs to affect margins in Q2

South Korea's S-Oil, majority owned by Saudi Aramco, posted losses in the first quarter from its refining and petrochemical units and expects second-quarter margins to be impacted by U.S. tariff negotiations and market volatility.

China's Sinopec partners with Saudi Aramco's unit in $4-B JV

China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture (JV) company with a registered capital of 28.80 B yuan ($3.95 B).

India's Delhi plans to curb gasoline car sales, ban gas-guzzling bikes to shed polluter tag

India's capital New Delhi plans to limit gasoline and diesel-powered cars a family can buy as well as ban sales of fuel-guzzling motorbikes and scooters, according to a draft policy aimed at cleaning up one of the world's most polluted cities.