Economics

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

Dow launches "Transform to Outperform" to raise the competitive industry benchmark for productivity and growth to enable improved returns

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).

ADNOC and TAQA announce 27-yr utilities agreement with TA’ZIZ, enabling world-scale chemicals production at Ruwais

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

Asahi Kasei, Mitsui Chemicals and Mitsubishi Chemical establish entity for ethylene plant decarbonization

India shifts diesel exports to West Africa as EU bans Russian crude-derived fuel

The developments highlight that the EU policy, aimed at punishing Russia over its 2022 full-scale invasion of Ukraine, is prompting a further reordering of intercontinental oil flows, forcing India’s oil refineries to seek new markets and disrupting Turkey's lucrative trade in supplying fuel to the EU.