Two Trump administration officials said on Friday that neither a wind-down period nor a short-term waiver on China’s oil purchases from Iran are being contemplated after Washington surprised Iran’s customers on Monday by demanding they halt the purchases by May 1 or face sanctions.
The...
Turkey is trying to convince the United States to allow refiner Tupras, its biggest oil importer, to continue buying crude oil from Iran free of sanctions, Foreign Ministry spokesman Hami Aksoy said on Friday.
Last year, Washington announced sanctions against buyers of Iranian oil, granting...
American middle class consumers are enjoying the strongest wage growth in a decade, but higher gasoline prices are eating a good chunk of that increase for many, and it looks like pump prices are headed higher.
Gasoline pump prices have already jumped about 25% this year, the fastest rate in...
Oil production in Venezuela has dipped so low that the owner of the world’s largest reserves is importing crude for the first time in five years.
The nation’s output fell below 1 million barrels a day to a 16-year low in March, amid rolling blackouts and US sanctions, Bloomberg reported.
As the...
Asia’s largest refiner Sinopec is set to receive its first US crude oil cargo this week since halting imports from the country in September, two sources with knowledge of the matter said on Tuesday.
The resumption is a sign that the Chinese refiner sees fewer risks from importing US oil as...
India will add 12 nuclear power stations to its lineup to shore up its power supply situation, the department of atomic energy said Monday.
The “irreplaceable source of clean, pollution-free energy” is expected to be a significant and essential part of India’s energy needs, KN Vyas, DAE...
As the US ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market.
The decision may also jeopardize the deal that OPEC and allied suppliers including Russia reached to limit output until the end of June to buttress crude and avert a...
The overseas oil and gas production of China National Petroleum Corporation rose 10% year-on-year in the first quarter of 2019.
Production came in at 26.09 million tons of oil equivalent in the first quarter, according to the international branch of CNPC, the country's largest oil and gas...
Claims of Reliance Industries Ltd.'s purchases of crude oil from Venezuela’s state-owned oil company, PDVSA, for cash payment to third parties are false, according to the company.
“Reliance has purchased Venezuelan crude oil from companies such as Rosneft long before the imposition of US...
The US administration said on Monday that it will not renew waivers that let countries buy Iranian oil without facing sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Oil prices had started to climb as reports emerged on Sunday that the US...