Crude oil

Equinor has no spare oil and gas capacity, CEO says

The U.S.-Israeli attacks on Iran and the latter's retaliatory strikes across the Middle East have disrupted around a fifth of global oil and liquefied natural gas supply along the Strait of Hormuz, a key chokepoint for Gulf state exports.

Top global refiner Sinopec to cut crude runs by over 10% on Mideast supply squeeze

The cuts by state-owned Sinopec, which accounts for a third of China's refinery output, are part of Beijing's widening measures to curb oil supply disruptions due to Iran's blockage of the Strait of Hormuz, a conduit for 20% of the world's oil.

Japan to consider whether to buy Russian crude following U.S. sanctions waiver

The U.S. waiver allows countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets, which have been roiled by the Iran war.

Australia releases petrol and diesel from emergency reserves

Energy Minister Chris Bowen said the move to allow the release of up to 20% of the baseline minimum stockholding obligation is equivalent to up to 762 MM liters (l) of petrol and diesel.

Southern Energy Renewables announce $1.4-B methanol and SAF complex in Louisiana

Clariant successfully demonstrates advanced pyrolysis oil upgrading technology for circular plastics with Borealis and SINTEF

Middle East conflict could force up to 6 MMbpd crude run cuts across Asia

Iraq asks KRG to help pipe crude oil to Turkey

The Kurdistan Pipeline Company operates Iraqi Kurdistan's main oil pipeline, which transports crude from northern Iraq to a border connection point with the Iraq–Turkey pipeline.

IEA announces record release of strategic stocks in response to Iran war oil price surge

The IEA said the release had been backed unanimously by 32 member countries, the sixth such move it has made since its creation in the 1970s.

INA completes Rijeka refinery upgrade project in Croatia