Refining
EU warns of prolonged energy shock, forced cuts if Iran war continues
Europe has not yet faced supply shortages, but is grappling with soaring oil and gas prices and airports have warned the first jet fuel shortages could hit within weeks.
Europe's summer flights at risk as Iran war exposes refining decline
Europe’s oil and gas industry has shrunk dramatically over the past 25 years: North Sea production has dwindled and more than 30 refineries - 16% of refining capacity - have been shuttered across the continent.
Japan's weekly gasoline prices largely flat as subsidies offset price spikes
Japan began to partially release oil stockpiles from March 16 and has also rolled out subsidies to compensate for rising product prices which spiked to all-time highs in mid-March following the U.S.-Israeli war with Iran.
Botswana has not requested stake in Lobito refinery, Angola's Sonangol says
Angola has been seeking partners to help finance the delayed refinery — the country's largest and aimed at cutting its reliance on imported fuel — with financing shortfalls and potential partnerships drawing interest from neighbors.
IEA ready to further tap global oil reserves if needed, chief says
The 32-member IEA agreed last month to release 400 million barrels of oil from reserves, the largest-ever coordinated release, in a bid to calm oil markets. The U.S., the world's largest oil and gas producer, agreed to release 172 million barrels from its Strategic Petroleum Reserve.
Russia’s Rosneft diverts oil to Tuapse refinery from drone-hit Novorossiysk port
A Ukrainian drone attack sparked a large fire at the Sheskharis oil terminal in the Novorossiysk port last week, damaging two of its main berths and forcing oil exports from the port to halt.
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