Reliance Industries Slashes Russian Crude Imports Under U.S. Sanctions Pressure

India’s largest private refiner, Reliance Industries, will import about 150,000 barrels per day (bpd) of non-sanctioned Russian crude from February, as it limits intake from Russia and complies with the…

US Carlyle Group Agrees to Buy Lukoil’s Global Assets After Sanctions Pressure

Summary Lukoil agrees to sell global assets to Carlyle Group Foreign assets worth about $22 billion -analysts The value of the deal has not been disclosed Transaction with Carlyle dependent…

Saudi Arabia Weighs Another Cut to Arab Light Prices for Asia

Saudi Arabia may cut the price of its flagship Arab Light for March delivery yet again, Reuters has reported, citing trading sources it did not name. The price cut would…

Sanctions Pushed Russian Oil Revenues Lower in 2025

Sanctions from the European Union and the United States pressured Russian crude oil export revenues to a 20% decline on the year in 2025, the Financial Times reported, citing Agus…

Lukoil Agrees to Sell International Assets to Carlyle

Russia’s oil producer Lukoil has agreed to sell most of its international assets to private equity giant Carlyle. Following the U.S. sanctions on Lukoil and Rosneft, “as a result of Russia’s lack…

Geopolitics Loom Large Over Big Oil earnings as Investors Seek Venezuela Details

A view of the installations at the Puerto La Cruz oil refinery of Venezuelan state oil company PDVSA Summary Exxon, Chevron Q4 earnings could be overshadowed by geopolitical intrigue Chevron…

Oil Continues Upward Climb on Iran Attack Concerns

Summary US-Iran tensions remain key near-term price driver Markets pricing in geopolitical risk premiums US winter storms, Kazakh outages, also adding support (Reuters) – Brent oil ​futures prices jumped on…