Crude oil

Russian energy minister sees no reason to reduce petroleum products output

Russian energy minister Nikolai Shulginov on Friday said there was no reason for a sharp reduction in the country's petroleum products output in response to a European Union embargo, Interfax reported.

Kazakhstan increased oil exports bypassing Russia in 2022

Kazakhstan, the world's largest landlocked country, increased oil exports that bypassed Russia last year, but was still heavily reliant on supply channels via its neighbor.

Oil expects regional refining margins to stay elevated in 2023

South Korea's S-Oil said on Wednesday it sees regional refining margins in 2023 remaining elevated over pre-2022 levels, though the company posted a loss in the fourth quarter of 2022 on a fall in oil prices during the period.

Kuwait exports first modified diesel fuel shipment to Europe

Kuwait's National Petroleum Company exported its first shipment of modified diesel fuel to Europe through the Mina al-ahmadi refinery, the oil ministry said on Wednesday.

EU diesel price cap to limit Moscow's choice of buyers, including Asia

A proposed EU price cap on Russian diesel may be high enough to allow Moscow to continue exporting the fuel, but in practice could deter big Asian buyers who have become used to buying cheap Russian crude to refine it themselves, analysts say.

Chevron annual profit doubles to record $36.5 B, but misses estimates

Chevron Corp. on Friday posted a record $36.5 B profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.

Russian gasoline to be sent to Pakistan as EU import ban looms

Independent Russian oil refiner Forteinvest has clinched a deal that will see Russian gasoline sent to Pakistan by land for the first time, two industry sources said on Friday.

Veolia Water Technologies & Solutions and OLI Systems to team up for digital transformation projects

Veolia Water Technologies & Solutions announced a collaboration with OLI Systems, a leader in water chemistry-based process simulation and electrolyte thermodynamics, to optimize operating performance in the refining and petrochemical industries.

Chevron's 5th and 6th cargoes of Venezuelan oil soon to depart

Two tankers chartered by Chevron Corp are loading Venezuelan heavy crude at the South American country and should depart in coming days for the United States, according to shipping documents and sources.

Imperial Oil to invest $539 MM for renewable diesel plant in Canada

Imperial Oil Ltd said on Thursday that it plans to invest C$720 MM ($538.64 MM) to construct a renewable diesel facility near its Strathcona refinery at Edmonton, Canada.