Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen’s Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world’s top oil exporting region.
India’s coal imports appear to have surged in July and may even come close to a monthly record as it grapples with domestic transport woes and rising demand for electricity.
A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.
Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.
The owners of a long-closed oil refinery on St. Croix will disclose on Monday an agreement with the Caribbean island’s governor to restart the plant and begin producing fuels late next year, according to people familiar with the talks.
The world’s largest independent oil trading house Vitol is hiring Mike Muller, the former head of crude oil trading at Royal Dutch Shell and once one of Vitol’s biggest rivals, a source familiar with the matter said.
Indian cabinet on Wednesday approved establishment of two strategic petroleum reserves (SPRs) with a total capacity of 6.5 mln tonnes – interim finance minister Piyush Goyal
Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.
Indian refiner Nayara Energy, one of the country’s biggest buyers of Iranian oil, began cutting imports this month after the United States scrapped a nuclear deal with Tehran and said it would re-impose tough sanctions, three people familiar with knowledge of the matter said.