Black Sea Petroleum (BSP), the company behind Georgia's Kulevi plant on the Black Sea coast, has announced that as of 23 August, the refinery is processing exclusively non-Russian oil.
U.S. Energy Secretary Chris Wright has visited areas damaged by the June earthquakes in Venezuela, describing the destruction and loss of life as “heartbreaking”.
U.S. Energy Secretary Chris Wright said on Tuesday that energy deals expected to be signed in Venezuela this week could more than double the country’s crude oil production over the next few years.
Venezuela’s interim President Delcy Rodriguez has hailed a sweeping energy agreement with the United States as an “historic” deal, saying it will run for 25 years and aim to lift crude production to more than 1.5 million barrels per day.
The U.S. is to take control of a fifth of Venezuela’s vast oil reserves, President Donald Trump announced on Friday. He said that Washington had secured control of more than 65 billion barrels of the South American country’s reserves through a partnership with private business.
Kazakhstan is considering the Baku-Supsa pipeline as an alternative oil export route after Caspian Pipeline Consortium disruptions cost the country an estimated 3.5 million tonnes of oil, Energy Minister Yerlan Akkenzhenov said.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
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Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 19th of August, covering the latest developments.
Pakistan is turning to more U.S. crude as disruption around the Strait of Hormuz exposes the risks of its heavy reliance on Gulf energy supplies.
Kazakhstan’s oil exports through its main pipeline route fell sharply in July after Black Sea disruptions, as neighbouring Kyrgyzstan faced rising fuel prices amid reduced supplies from Russia.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
UK Prime Minister Andy Burnham faces an early test of his climate commitments as his government weighs whether to approve two major North Sea oil and gas projects, Rosebank and Jackdaw.
Firefighters were continuing to battle a massive blaze at the Zawiya refinery on Tuesday as Libya's National Oil Corporation (NOC) said it could declare force majeure and completely halt operations if drone attacks on oil assets in the city continued.
Pakistan is seeking to strengthen its energy security through a proposed Gulf oil storage scheme, $5 billion in refinery upgrades and renewed offshore exploration with Türkiye as global supply disruptions expose its reliance on imports.
Kyrgyzstan is facing fuel supply challenges after shipments of petroleum products from Russia and Belarus fell sharply in July, pushing prices higher and forcing the country to look for alternative suppliers.
U.S. President Donald Trump criticised major oil companies, including Chevron and Exxon Mobil, on Monday for earning what he described as excessive profits as renewed tensions with Iran pushed global energy prices higher.
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Cuba faced another nationwide blackout after its electricity grid failed, deepening an energy crisis tied to fuel shortages and U.S. sanctions.
Oil prices fell sharply on Monday after U.S. President Donald Trump said talks with Iran would begin later in the day, raising hopes of easing tensions in the Middle East, while OPEC+ agreed to increase oil production for a sixth consecutive month, adding to expectations of improved global supply.
Oil prices have fallen more than six per cent as a pause in U.S.-Iran hostilities eased fears of wider supply disruption around the Gulf.
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