German refinery’s plight prompts calls for return of Russian oil
No Russian oil has been delivered via the Druzhba pipeline to the PCK refinery in Germany in more than two years because of sanctions levied against Moscow following its full-scale…
After decades, China sputters as engine of global oil demand growth
China’s crude oil imports are on track to peak as soon as next year as transport fuel demand begins to decline for the world’s top crude buyer, ending the country’s…
Global oil markets weaken as sluggish demand leaves overhang
Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark…
Heavy oil shortage spells higher cost for shippers, road builders
Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect…
Oil price hike
Petroleum prices have been increased; petrol is costing Rs 305.34 per Liter and diesel Rs 311.84. It is an increase of 5.17 percent in the price of petrol and 6.48…
Eni, Repsol to upgrade oil-for-debt deal with Venezuela
European oil majors Eni and Repsol plan to expand an oil-for-debt deal with Venezuela under US approval, aiming to supply refined products to state firm PDVSA and boost oil deliveries…
Russian oil price cap under growing scrutiny as prices rise
When the West rolled out its unprecedented price cap on Russian oil late last year, it hoped to starve Moscow of much-needed revenue while minimising the impact on other countries.…
Oil group MOL disputes hikes to pipeline fees through Ukraine, Croatia
Hungarian oil group MOL expects to be able to choose between Russian or non-Russian crude for its refineries by 2026, its Chairman and Chief Executive Zsolt Hernadi told Reuters, by…
Oily matters – I
Pakistan’s oil imports are the biggest drain on foreign exchange. Current year’s oil import bill has been projected to exceed 23 billion USD as against total exports of 34 billion…
What to do with furnace oil?
Furnace oil used to be the backbone of both power and oil industry until only a few years ago. There were no LNG or coal power plants. Almost all thermal…
