Source: India wants US marine coverage for Middle East energy cargoes
India and the United States are in discussions to secure marine coverage for vessels that ship oil from the Middle East. New Delhi is seeking to protect buyers from possible supply disruptions due to the Gulf crisis.
China Oil Refiners Feel Safe From Iran Conflict Disruption with Crude Stockpile
Refiners in China, the world's top oil importer, have enough supply on hand to weather near-term disruption from the Iran conflict, bolstered by recent record purchases of Iranian and Russian crude and robust government stockpiling…
Ukraine Delays Druzhba Oil Deliveries Again
Ukraine has told Slovakia's oil pipeline system operator Transpetrol that the resumption of oil deliveries via the Druzhba pipeline has been delayed by another day to February 26, Slovakia's…
Mexico tries to avoid US tariffs for states that ship oil to Cuba
Mexico will look for diplomatic solutions to help Cuba. Mexican President Claudia Sheinbaum said on Friday that the country would seek alternatives and find diplomatic solutions after U.S.
VLCC Rates Spike as US Sanctions Bite
Supertanker freight rates jumped after the U.S. expanded sanctions on Russia's oil industry, sending traders rushing to book vessels to ship supply from other countries to China and India,…
Iranian Oil Prices to China Spike as Shipping Sanctions Bite
The price of Iranian crude oil sold to China has risen to the highest in years as fresh U.S. sanctions have tightened shipping capacity and driven up logistics costs, trade sources and analysts…
India's Oil Imports at 3-year Low
India's oil imports fell to their lowest in more than three years in September to 3.82 million barrels per day (bpd), data obtained from industry and shipping sources showed, as some refiners…
Additional Tanker Supply Arranged in Russia Pipeline Crisis
Shareholders of two German refineries are arranging crude tanker shipments via the Baltic Sea in response to the halt of import flows on the Russian Druzhba pipeline, a spokesman for industry…
US Judge Halts Keystone XL Oil Pipeline
A U.S. judge in Montana has halted construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing a sharp rebuke on Friday from President Donald Trump.The ruling of a U.S.
Venezuela's Crude Sales to U.S. Fall in July
Venezuela's crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset seizures against state-run oil firm PDVSA…
PDVSA Raises Prospect of Force Majeure on Oil Exports
OPEC member Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, according…
Canada Moves Crude One Truckload at a Time
At an Alberta oil loading terminal, a convoy of big rigs are gearing up to haul Canadian crude oil hundreds of miles through bone dry fields across the U.S. border into Montana, where the oil…
Trafigura to Ship Oil from Permian to Corpus Christi
Commodities trading house Trafigura said on Tuesday it signed a new agreement with Plains All American Pipeline to transport 300,000 barrels of crude oil per day from the Permian basin to the port of Corpus Christi…
Energy pipelines back in investor favor after Trump orders
Investors have rushed back into North American pipelines after U.S. President Donald Trump revived growth prospects in a sector that struggled to cope with a two-year oil price slump and strident…
U.S. Advances Oil Reserve Revamp Plan, Potential Crude Sale
The Obama administration has sent Congress a plan to modernize the country's emergency oil reserve, a step that could set in motion a sale of about 8 million barrels from the stash later this year to help pay for the revamp…
Argentina's YPF to Ship Oil to China, Spurred by Subsidy
Argentine state oil company YPF a will export 200,000 barrels of oil to China in a deal spurred by a new government subsidy designed to encourage drilling in the South American country, a market…
Conoco CEO: Lifting U.S. Oil Export Ban on Wish List
The head of U.S. The comments come amid intensifying debate in Washington on whether to reverse the 40-year-old ban, imposed after the Arab oil embargo. A Republican-sponsored bill to repeal…
Petrobras Confirms Potential of Libra
Petrobras announces that the consortium responsible for the area of Libra, in the pre-salt Santos Basin, has completed drilling of the well 3-BRSA-1310-RJS, located in the central part of the block.
Brent up, U.S. Crude Dips
Brent crude rose and U.S. futures dipped on Friday in choppy trading as expectations of increased exports from Iran capped prices and helped both contracts post their third consecutive weekly losses.
US Drillers Cut Rigs as Crude Prices Collapse
The resurgence in drilling seen earlier this month seemed to fizzle this week as U.S. energy firms cut seven oil rigs, oil services company Baker Hughes Inc data showed on Friday. The decline came as U.S.