India is loading liquefied petroleum gas onto its empty vessels stranded in the Persian Gulf as the country grapples with a gas shortage triggered by the conflict in the Middle East, an official from the federal shipping ministry said on Tuesday. Internal Pages – Super (728×90) – Position 14 Eight LPG carriers, four crude oil […]

Crude oil exports from Saudi Arabia’s western Yanbu port rose to nearly four million barrels per day last week, a sharp increase from export levels before the Iran war broke out, shipping data shows. Internal Pages – Super (728×90) – Position 14 Saudi Aramco, the world’s biggest oil exporter, is trying to boost exports by […]

Eni was owed $3.3 billion by Venezuela’s oil company PDVSA at the end of last year, including around $1 billion in accrued interest, the Italian company said in its annual report on Tuesday. Internal Pages – Super (728×90) – Position 14 Eni and Spanish oil company Repsol produce gas at their jointly owned Perla offshore […]

Norway’s Equinor has begun drilling producer and injector wells for its offshore Raia natural gas project in Brazil, while also planning fresh exploratory activities in the South American nation, its top executive in the country told Reuters. Internal Pages – Super (728×90) – Position 14 The project in the Campos basin is on track to […]

Shell and Equinor’s UK North Sea oil and gas joint venture on Tuesday secured a $3 billion reserve-based lending facility, its first major debt deal since formation late last year. Internal Pages – Super (728×90) – Position 14 The seven-year financing will support Adura’s plans to develop its UK North Sea portfolio at a time […]

Japan will tap joint oil stockpiles held by producing nations in the country by the end of March, Prime Minister Sanae Takaichi said on Tuesday, as Tokyo ramps up emergency measures to offset supply losses from the Middle East. Internal Pages – Super (728×90) – Position 14 Global oil prices spiked to their highest levels […]

Bahrain has put forward a draft UN Security Council resolution that would authorise countries to use “all necessary means” – diplomatic language for force – to protect commercial shipping in and around the Strait of Hormuz, according to a text seen by Reuters on Monday. Internal Pages – Super (728×90) – Position 14 Diplomats said […]

Image for illustration purposes only – Envato – https://elements.envato.com/ Iran has started charging transit fees on some commercial ships that route through the Strait of Hormuz, reaffirming Tehran’s control over the world’s most important maritime energy corridor. The move is understood as an attempt to financially exploit the strategic control that Tehran exercises over the […]

Materials Chemical companies hike prices for intermediate materials as costs climb Japanese chemical companies are tapping domestic oil reserves to produce naphtha. (Photo by Kai Fujii) TOKYO — Japan’s ethylene production facilities will be able to maintain operations in April, according to a petrochemical industry group, but the difficulty of sourcing raw materials from the Middle […]

Iran tensions Islamabad has played similar roles with Washington involving Afghanistan, China U.S. President Donald Trump, left, and Pakistani Prime Minister Shehbaz Sharif attend a world leaders summit in Egypt during October on ending the Gaza war. © Reuters ISLAMABAD — Pakistan is emerging as a leading mediator between the U.S. and Iran by leveraging its good relations with both […]