The United States imposed sanctions on companies it accused of involvement in Iran's petrochemical and petroleum trade, including five based in China, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal.
A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban on Russian refined products which is due to come into force early next year.
Strike action and unplanned maintenance has taken offline more than 60% of France's refining capacity - or 740,000 bpd - forcing the country to import more when global supply uncertainty has increased the cost.
bp laid off most contractors at the approximately 160,000 barrel-per-day Toledo, Ohio, refinery it owns with Cenovus Energy Inc, indicating that the plant will experience a prolonged shutdown following last week's explosion and fire.
France's refined products sector is under strain as a result of strike action over pay and unplanned maintenance which have led to more than 40% of its refining capacity being taken offline.
Niger has temporarily stopped issuing authorizations for oil product deliveries to neighboring Mali unless they are destined to the United Nations peacekeeping mission there, the government said.
In case you missed any downstream news, here are the top stories from last week.
Cameroon's national oil refining company, SONARA, has reached a deal with oil trader Vitol to restructure its commercial debt towards the Dutch energy and commodity trading company.
Fortescue Metals Group Ltd updated its world leading heavy industry decarbonization strategy, aiming to eliminate fossil fuel use and achieve real zero terrestrial emissions (Scope 1 and 2) across its iron ore operations by 2030.
Upon sending the letter, Chet Thomson issued the following statement stressing the importance of rail transit to the refining and petrochemical industries and the need for broader rail reform.