LATEST ENERGY NEWS

Ukraine hit Russia's Yaroslavl oil refinery overnight, ​Ukrainian President Volodymyr Zelenskiy said on Thursday. The refinery is ⁠located some 250 kilometres (155 miles) northeast of Moscow.

Over the past few years, Israel has become a significant natural gas supplier with about half of its domestic production designated for exports, mainly to Egypt and Jordan.

Iran's Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an "illegal passage" through the Strait of Hormuz on Thursday, Iranian state media said early on Friday.

According to industry executives at Gastech in Bangkok, European storage levels are well below normal for this time of year.

Saudi crude has traditionally been an important component of India’s crude imports.

State-owned Aramco, which has been Orlen's largest oil supplier since 2022, providing around 40% of its volumes, has informed European customers some late-September cargoes will be cancelled.

The combination of high prices and relatively low storage levels has fueled concerns among some politicians and market participants about gas supplies and affordability this winter.

Two pumping ​stations serving the ⁠East-West pipeline were damaged in an attack last week, with a repair timeline unclear, according to assessments from three oil and security sources.

The latest disruption follows tensions between the Kurdistan Regional Government (KRG) and Dana Gas and its partner Crescent Petroleum.

To be located in Tan Thuan Industrial Park, the project is expected to have the capacity to process up to 7 million tons of crude oil annually, or approximately 155,000 barrels per day.

Iraq ​has been exporting about ⁠2 million barrels of oil per day this month according to Kpler data, down from 2.354 million bpd in August but above the 1.374 million bpd in July.