GlobalData’s latest report, ‘Crude Oil Refinery New-Build and Expansion Projects Analytics and Forecast by Project Type, Regions, Countries, Development Stage, and Cost 2022-2026’, reveals that out of the 44 projects, 36 represent expansions of existing projects while eight will be new-build projects.

The OPEC+ Joint Technical Committee (JTC) expects that the surplus offer on the oil market will be 1 mln barrels per day in average in 2022.

Russia’s seaborn exports of its oil products have declined by more than 1 million barrels per day through mid-June, IHS Markit said in a report seen by TASS.

Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic.

Leftist Gustavo Petro, a former member of the M-19 guerrilla movement, who has vowed profound social and economic change, won Colombia’s presidency on Sunday, the first progressive to do so in the country’s history.

Leftist Gustavo Petro, a former member of the M-19 guerrilla movement who has vowed profound social and economic change, won Colombia’s presidency on Sunday, the first progressive to do so in the country’s history.

On Thursday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented new sanctions on what it called “a network of Iranian petrochemical producers” and “front companies” in China and the UAE that support Iranian petrochemical exports abroad.

Serbia would be interested in building an interconnector with neighbouring Hungary because its northern neighbour gets its oil from Russia via the Druzhba pipeline, which is not under Western sanctions, Serbian President Aleksandar Vučić said on Wednesday.