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Crude oil

Peru, Ecuador to join efforts on security and oil integration

The presidents of Peru and Ecuador pledged to join efforts to fight transnational organized crime and also discussed new possibilities for oil processing.

As Nigeria's gasoline debt hits $6 B, some traders back out

Nigeria's debt to gasoline suppliers has surpassed $6 billion - doubling since early April - as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs.

EIA: U.S. crude stocks, gasoline and distillate inventories fall

U.S. crude stocks, gasoline and distillate inventories fell in the week ending June 28, the U.S. Energy Information Administration (EIA) said on Wednesday.

Oryx Group signs lease to operate Curacao's oil terminal

A unit of Hong Kong-headquartered energy firm Oryx Group has reached an agreement with Curacao's refinery to lease and operate storage facilities on the Caribbean island for 30 yr.

EIA: Increasing U.S. gasoline inventories are reducing gasoline prices

Weekly U.S. average gasoline prices have declined $0.19/gallon (gal) since the 2024 high on April 22, falling to $3.48/gal on July 1, $0.05/gal less than the price a year ago. Increasing gasoline inventories, relatively weak demand and oil prices below recent peaks are all contributing to falling gasoline prices, according to the U.S. Energy Information Administration (EIA).

New fuel restrictions for ships in Arctic fall short, green groups say

Ships sailing through Arctic waters will no longer be able to use or carry heavy bunker fuel oil under a United Nations shipping agency regulation that took effect on Monday.

Blaze put out at Russian oil reservoir after Ukrainian drone strike

A Ukrainian drone attack caused a fire to break out at an oil reservoir for Russia's Druzhba pipeline in the Tambov region southeast of Moscow on Friday, but the blaze was extinguished within hours.

U.S. crude imports touch 2-yr high despite lukewarm demand

U.S. crude oil imports last month rose to a nearly 2-yr high as refiners scooped up heavy crudes from Canada and Latin America to process into fuels for summer driving season.

New DNV survey highlights oil and gas sector paradox

The latest DNV survey, “The Paradox of Petroleum—How the oil and gas sector is transforming through uncertainty,” gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector.

Venezuela resorts to dark fleet to supply oil to ally Cuba

Venezuela's state oil company PDVSA has begun using tankers that navigate off radar to supply its closest political ally, Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles.