BP Halts Share Buybacks
BP Plc is halting share buybacks to shore up its balance sheet as pressure mounts on the UK energy giant to deliver on its turnaround efforts. The company is slashing…
Ukrainian Strikes Take a Heavy Toll on Russia’s Oil Refineries
Ukrainian attacks on Russian oil refineries cost Russia’s oil and gas sector as much as $12.9 billion (1 trillion Russian rubles) last year, according to a local insurance broker. …
Tengiz Oilfield Ramps Up Output to 550,000 Bpd after Fire
The giant Tengiz oilfield in Kazakhstan has returned 60% of its peak production and was pumping at a rate of 550,000 barrels per day as of Sunday, following a forced…
Vitol Pushes Back Peak Oil Demand to Mid-2030s
Vitol expects global oil demand to peak around the middle of the 2030s, due to forecasts of slower uptake of electric vehicles, the world’s biggest independent oil trader said in…
India Poised to Slash Russian Oil Imports After U.S. Trade Deal
Indian refiners are poised to halve imports of Russian crude oil following the U.S.-India trade deal, sources with direct knowledge of the oil procurement deals told Bloomberg on Monday. All…
India Ups Middle East and West Africa Oil Purchases to Avoid Russian Crude
India’s largest state-owned refiner, Indian Oil Corporation (IOC), has boosted purchases of crude oil from ?West Africa and the Middle East, as New Delhi steers clear of Russian crude in…
New Zealand Eyes First LNG Terminal to Guard Against Power Shortages
The government of New Zealand has shortlisted proposals to have its first LNG import terminal operational by early 2028 as it looks to boost energy security amid falling domestic gas…
