Crude oil

UAE to leave OPEC and OPEC+ oil producer groups

The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economy.

Phillips 66 Limited completes acquisition of Lindsey Oil Refinery assets

The transaction comes after the company previously agreed to the deal in January, stating its intention to integrate key assets into its Humber Refinery operations.

Shell to acquire Canada's ARC in output-boosting $16.4-B deal

ARC's production lies near Shell's existing Canadian fields which feed into the LNG Canada plant, in which Shell holds a 40% share and whose liquefied natural gas can reach Asian buyers more quickly than most other North American LNG.

Brazil to start tests for diesel blend containing 20% biofuel in May

U.S.: Trump grants 90-day Jones Act waiver extension to curb energy costs

The move reflects a broader push by the White House to dampen politically sensitive fuel price spikes ahead of November’s midterm elections, where affordability is expected to be a defining issue for voters.

Cosmo tanker could reach Japan on Sunday with first U.S. shipment post-Iran war

The tanker, loaded in Texas (U.S.) on March 22, is due to arrive off Chiba as early as on April 26 via the Panama Canal.

Russian ESPO premiums ease on weak Chinese refining margins

Spot premiums for Russia's Far East ESPO Blend crude oil delivered to China in June have eased as weak refining margins curbed demand from independent refiners.

Czechs discussing possible fuel supplies from Slovakia

Russia to stop Kazakh oil flows to German PCK refinery via Druzhba

The move deals a blow to the PCK Schwedt refinery, which supplies most of the German capital's fuel and relies on Kazakhstan for 17% of its supplies.

Kenya, Tanzania and neighbors discuss joint refinery as Dangote offers to build it

East Africa currently imports all of its refined petroleum products, mainly from the Middle East, leaving the region vulnerable to supply disruptions and price spikes as seen in the fallout of the Iran conflict.