Crude oil

VARO completes acquisition of Preem and creates VAROPreem, one of Europe's largest fuels producers

Tanker carrying Venezuelan heavy oil departs to Louisiana (U.S.)

This month, trading houses Vitol and Trafigura received the first U.S. licenses to load and export Venezuelan oil as part of the deal. They have since shipped cargoes to storage terminals in the Caribbean, and from there they have been marketing and selling the crude to refiners worldwide.

India says state-run BPCL to sign $780-MM oil deal with Brazil's Petrobras

Indian refiners are redrafting their oil import strategies, buying more oil from Middle Eastern, African and South American countries to make up for a reduction in Russian oil supplies.

Russian oil exports to China surge in January as India, Turkey cut buying

The United States and the European Union imposed sweeping sanctions in late 2025 targeting Russian oil sellers and shippers, including energy giants Rosneft and Lukoil, complicating purchases for global buyers and tightening scrutiny on Russian crude exports.

Indian refiners shift oil strategy; trim Russian buys and turn to the Middle East

Indian refiners shift oil strategy, trim Russian buys and turn to Middle East

Indian refiners are redrawing crude import strategies to shift away from top supplier Russia and boost imports from the Middle East, a move that could help New Delhi clinch a trade deal with the United States to lower tariffs.

India's HPCL to begin crude processing at Barmer refinery by end of month

With the commissioning of the Barmer refinery, HPCL will become the second largest state-run refiner, replacing Bharat Petroleum Corp., which operates 706,000 bpd of capacity through its three refineries.

Gazprom Neft provisionally agrees to sell NIS stake to Hungary's MOL

NIS supplies about 80% of Serbia's fuel market and holds around half of the retail segment.

China's fuel oil imports slip in 2025 on weaker demand from refineries

China's demand for fuel oil typically comes from independent refiners, which can opt to use it as an alternative feedstock when they run out of crude-oil import quotas.

With refining spin off, Galp focuses on growing upstream in Brazil, Namibia

The company said earlier this month it was in talks with private equity-backed Moeve to combine their businesses in two new entities - one focusing on retail and another on refining.