The increase in demand for transportation occurred against the backdrop of US sanctions against Russian companies Rosneft and Lukoil.

Chinese oil refiners, both state-owned and private, have reduced their purchases of Russian oil from 500,000 to 800,000 barrels per day, equal to up to two-thirds of their usual import volume, following the imposition of US sanctions against Rosneft and Lukoil.

Major European oil refineries are at risk of closure due to sanctions imposed by Washington on Russia's Lukoil.

The news portal Afghanistan International reported where the delivery is taking place across the Caspian Sea, citing the directorate of Iran's Northern Railways.

Gunvor, a major player in the oil and LNG sector, will acquire Lukoil's international operations.

One of the key sectors of the German economy, the chemical industry, is on the brink of crisis, writes the German newspaper Welt am Sonntag.

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The United States has authorized the Caspian Pipeline Consortium (CPC) and Tengizchevroil to conduct transactions with the sanctioned companies Lukoil and Rosneft.

According to a statement from the Chinese Ministry of Commerce, China's quota for oil imports through non-state channels for 2026 has been set at 257 million tons.

The United States has announced new sanctions against approximately 100 individuals, companies, and vessels involved in the trade of Iranian oil and petrochemicals.

The Kyrgyz Council of Ministers has imposed a ban on the export of petroleum and petroleum products from its territory outside the Eurasian Economic Union (EAEU).

ExxonMobil, the largest American energy company, has reached an agreement with Baghdad to develop and operate one of the world's richest oil fields.

Russian oil remains an essential component of the global energy balance, so the introduction of further sanctions against Russia will lead to higher oil prices and inflation.

Azeri oil ranks first in Italy's oil balance, while Azerbaijani gas ranks second.

Kazakhstan's national oil company KazMunayGas and the American oil company Chevron have signed a $130 million investment agreement.

Global commodities traders Vitol and Glencore are planning to buy Chevron's stake in Singapore's Jurong refinery, with a production capacity of 290,000 barrels per day.

On September 20, a ship will depart Qingdao for Europe, not through the Suez Canal, but through the Arctic Sea.

At the Gastech international trade fair in Milan, Turkish state-owned company Botas signed two key agreements for the purchase of liquefied natural gas (LNG), said Turkish Minister of Energy and Natural Resources A. Bayraktar.

Azerbaijan's state-owned oil company SOCAR is negotiating the possible purchase of a major Italian oil refining complex.

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Sinopec's profits fell 36% from January to June this year, to 23.75 billion yuan (US$3.3 billion).

Last week, Indian state-owned refineries stopped purchasing Russian oil, following discount cuts and a warning from US President Donald Trump not to purchase oil from Russia, industry sources said.

According to a Bloomberg report, British Petroleum (BP) and Italy's Eni SpA have accused Azerbaijan of selling contaminated oil.

Russia has temporarily banned foreign oil tankers from loading at its main Black Sea ports.

In the 18th round of sanctions, the EU imposed restrictions on India's second-largest refinery, the European Union's main diesel supplier.

A new oil and gas field has been discovered in the Baltic Sea in northwestern Poland, near the city of Szczecin.

In May, France returned to being the leading EU buyer of Russian gas, while Hungary fell to second place, according to an analysis of Eurostat data.

According to the June report from the Organization of the Petroleum Exporting Countries (OPEC), global oil demand could increase by 1.3 million barrels per day (bpd) in 2025, with further growth expected in 2026. OPEC has thus once again confirmed its estimates.

Africa is and will be Europe's main oil supplier until 2035, if Russian raw materials do not return to the European market.

Solar energy is surpassing nuclear power plants and wind turbines in terms of electricity production, but the technology to store such volumes of electricity does not yet exist.

A new natural gas field has been discovered in the Mediterranean Sea southwest of the island of Cyprus, Cypriot government spokesman and minister Constantinos Letympiotis said in a statement on Monday.

British oil and gas company BP has signed an agreement with Libya's National Oil Corporation (NOC) that will allow it to assess the situation of the country's giant oilfields and develop them in the future, the company's press office said.

The United States has imposed tariffs of up to 3,521% on solar panel imports from Southeast Asian countries.

China may shut down some plastics production due to ethane shortages, as nearly all of China's ethylene is supplied by the United States.

The United States has imposed sanctions on China’s Guangsha Zhoushan Energy Group Co Ltd and 30 oil tankers for storing and transporting Iranian oil.

German authorities are worried and ready to consider any option to save the factories.

Canadian and Mexican oil, EU gasoline exempted from US import duties.

Danwatch and NRK journalists have identified at least 76 tankers from the Russian “shadow fleet”.

Italian oil and gas group ENI has confirmed that US authorities have notified it that it will no longer be allowed to receive oil payments from Venezuela’s state oil company PDVSA for gas production in Venezuela.

British oil giant Shell is considering closing several plants in Europe and partnering with projects in the United States. The company's message dedicated to the Investor Day is reported by TASS.

President Donald Trump is imposing a 25 percent “secondary” tariff on Venezuela and a 25 percent tariff on “any country that buys oil and/or gas from Venezuela” payable to the United States “for any trade they conduct with our country.”

French scientists have made a discovery that could change the production of clean energy.

TotalEnergies SE is considering importing green hydrogen from a multibillion-dollar project under development in northeast Brazil to supply its European refineries.

France’s new Le Havre LNG terminal is sitting idle, and TotalEnergies, which installed it, isn’t using it either.

Australian energy firm Woodside has signed a deal to supply liquefied natural gas (LNG) to China with China Resources Gas, according to Reuters.

Russia has found another way around Western sanctions and is trading oil with China and India in exchange for cryptocurrencies, Reuters reports, citing four sources familiar with the situation.

Oil-rich Egypt has big plans for the future of fossil fuel development, with several new auctions and major investments planned for the North African country.

The figure is $7.9 million per million barrels, up from $5.6 million at the end of last year. That's more than double the cost of oil from other producers, Bloomberg reports, citing data from Argus Media.

Saudi Arabia's Aramco and Algeria's Sonatrach have cut their March official selling prices (OSP) of Liquefied Petroleum Gas (LPG) by 0.9-3.2 percent from the previous month due to lower oil prices and weak global LPG demand.

Qatar plans to nearly double its LNG exports within five years. However, one of the world’s largest suppliers of liquefied natural gas has faced demands from buyers in India and China to lower gas prices and make gas supply terms more affordable.

The cost of purchasing Russian Liquefied Natural Gas (LNG) for the European Union (EU) has almost quadrupled in three years due to rising prices and volumes of LNG supplies from Russia.

Egyptian and Cypriot authorities have agreed a plan for Eni and TotalEnergies to liquefy gas and export LNG.

Several new Chinese oil terminals have recently started accepting tankers subject to U.S. sanctions, five sources told Reuters, confirming ship-tracking data from Vortexa Analytics and Kpler.

Gazprom’s Austrian and Italian Divisions Transferred to Dubai Investors

Shipping data showed Venezuela’s oil exports rose 15% in January to 867,000 barrels per day.

US President Donald Trump's plans to increase domestic oil production go against market trends and could lead to a wave of shale industry bankruptcies.

Nigeria, Africa's top oil producer, has set a target of increasing daily output by about three-fifths to 2.7 million barrels of crude oil and condensate by 2027, a presidential adviser has said.

US oil refiners will be forced to look for new suppliers of raw materials in Latin American and Middle Eastern countries, including Brazil and Iraq, after new President Donald Trump imposed tariffs on imports from Canada and Mexico.

The EU's gas price cap, introduced in 2022, will expire on Friday, January 31. The decision to remove the fuel price cap was reported by Reuters.

Nigeria's gasoline imports hit an eight-year low as a new mega refinery replaced foreign suppliers, boosting the country's energy independence.

The spread between Brent and Dubai crude on the ICE Futures Europe exchange has hit its widest level since 2015, with the latter typically trading at a discount but now more than $2 above the benchmark.

Despite the tough restrictions imposed by Washington, Russia's oil revenues have even increased slightly.

Chevron Corp. reported Friday that it has completed an expansion of its massive Tengiz oil field in Kazakhstan, which it expects to pump 1 million barrels a day by the middle of this year.

The tariff for transporting crude oil from Kozmino to China has increased to $7 million. Ships that served Russia’s western ports are switching to trade with China

The Algerian National Agency for the Development of Hydrocarbon Resources (Alnaft) and the American oil and gas company Chevron have signed an agreement in Rabat to conduct a study on the potential of offshore hydrocarbon resources off the coast of Algeria.

Oil refineries in Asia have started to reduce production volumes and some are even preparing to close. The reason for the pessimism was the latest package of US sanctions against Russian oil, which has significantly affected its supplies to the world market.

The supply cut in the seven days to January 19 kept four-week supplies below 3 million barrels per day for the fourth week.

According to data from Gas Infrastructure Europe (GIE), gas reserves in underground storage facilities (UGS) in France and the Netherlands have fallen below 50%.

The historical debt of $709 million for gas supplies to Moldova is reflected in the accounting documents of the gas distribution company Moldovagaz, and Gazprom has every right to demand payment.

In the next decade, up to 10% of China’s oil refining capacity will go bankrupt and shut down.

Spot premiums for Middle Eastern oil have risen to their highest level in more than two years, as prices surged on strong demand from major importers China and India, which are seeking a replacement for supplies sanctioned by the Russian Federation and Iran.

Indian and Chinese refiners are increasing oil imports from the Middle East due to concerns that US sanctions will limit the supply of Iranian and Russian oil.

Europe may miss its gas reserve targets, triggering a rush to supply the energy source before new Liquefied Natural Gas (LNG) capacity comes online.

The US has imposed large-scale sanctions on Russian oil and gas companies and their top managers.

Saudi Arabia's state-owned oil and gas company Saudi Aramco has raised oil prices for February for Asian buyers.

The Biden administration plans to impose additional sanctions on Russia, targeting tankers carrying oil priced above $60 a barrel.

Russia lost some revenue after Ukraine shut down its Russian gas pipeline. But Moscow already has alternatives for transporting fuel that will protect it from a major economic blow. It plans to expand liquefied natural gas exports by sending pipeline gas to other buyers such as China

Shandong Port Group, which operates ports in eastern China, has banned ships subject to US sanctions.

Last year, Europe bought a record amount of liquefied natural gas (LNG) from Russia: 17.8 million tonnes.

After reaching record levels this year, investment in the Norwegian oil and gas industry is expected to increase further in 2025.

President Joe Biden is indefinitely blocking oil and gas development in more than 625 million acres of U.S. coastal waters, warning that drilling there is simply “not worth the risk” and “not necessary” to meet the nation’s energy needs.

Moldovan authorities offer Transnistria to buy gas from Bulgaria for 500 euros per 1000 cubic meters. And this is the minimum price, because prices on international gas exchanges are now slowly rising.

In their 2025 Energy Outlook released Thursday, Jefferies analysts identified ten critical issues shaping the global energy landscape, driven by policy changes, market dynamics and geopolitical factors.

In the oil sector, 2024 has been characterized by chronic pessimism among traders regarding Chinese demand and chronic downplaying of the risks of supply disruptions. This has provided a fairly stable year for prices, and this stability could continue into 2025 if certain conditions are met.

State-run Nigeria National Petroleum Co. said its second oil refinery in the southern city of Warri is now operational, a major boost for the country as it seeks to move away from costly fuel imports.

The eighth US liquefied natural gas plant began exports this week, marking the departure of an LNG ship to Europe.

British oil and gas company Shell has closed its oil refinery on the island of Pulau Bukom, Reuters reports, citing the Maritime and Port Authority of Singapore (MPA) and the National Environment Agency (NEA).

Liquefied Petroleum Gas, which includes propane and butane, is used as a fuel for cars, heating and in the production of petrochemicals.

In November, Saudi Arabia became the largest importer of Russian fuel oil and Vacuum Gas Oil (VGO) delivered by sea, according to data from traders and LSEG

The Bundestag has approved by a majority the bill abolishing duties on gas transit to neighboring countries, as Parliament Speaker Bärbel Bas said in a live broadcast on the German parliament website.

The US has allowed Turkey to pay for gas supplies from Russia through the sanctioned Gazprombank, Turkey’s Energy Minister said. A similar exception was made for Hungary

The cost of leasing Liquefied Natural Gas (LNG) vessels has hit an all-time low, with some shipowners now facing losses on their vessel charters as the industry grapples with a huge oversupply following the energy crisis that erupted in Europe two years ago.

Ship-to-Ship Transfers

Rosneft has agreed to supply India with about 500,000 barrels of oil a day. The energy deal was the biggest in history between the two countries

Reclaim Finance study on the dangers of large investments in LNG. It is estimated that CO2 emissions will increase to the same extent as all those deriving from coal.

Saudi Arabia’s state-owned oil and gas company Saudi Aramco has lowered its January oil prices for buyers in Asia, Bloomberg reports, citing the company.

China will increase imports of Russian natural gas delivered through the Power of Siberia pipeline next year, exceeding existing contractual volumes.

Russian President Vladimir Putin has canceled the requirement for foreign buyers of Russian gas to pay for it only through Gazprombank until sanctions against it are lifted.

British and Norwegian energy companies Shell and Equinor intend to combine their oil and gas operations in the UK to create a joint venture.