LATEST ENERGY NEWS

Located in northwestern Turkiye, the Izmit refinery processes imported crude oil delivered by tanker from global markets.

The state typically issues exemptions only in cases of emergency, or when a company is drilling test wells and capturing gas isn’t feasible.

Oil major Chevron and trading houses Vitol and Trafigura have been authorized by Washington to export Venezuelan oil to the U.S.

Once operational, the project is expected to create thousands of jobs and position Mozambique among the world’s leading LNG exporters.

The deals were signed during India Energy Week in Goa, highlighting deepening energy ties between Brazil and India.

Citgo, the crown jewel of Venezuela's assets overseas, had also been a key supplier of refined products to Venezuela.

The Station is located next to the existing facilities of the Central Greece Operation & Maintenance Center of DESFA, in Ampelia, Farsala.

An unexpected drop in crude stockpiles in the U.S., the world's biggest oil consumer, also supported prices.

Fourth-quarter 2025 output fell 4% quarter-on-quarter to 48.9 MMboe, due to seasonal weather, lower east-coast demand, and asset divestments in Trinidad and Tobago.

Although crude prices initially surged, they have since stabilized. For basmati exporters, demand is expected to remain steady.

The question is whether China is likely to continue boosting its crude stockpiles in 2026.