Uncertainty over crude oil supplies via the Strait of Hormuz is pushing Asian states towards Canada's TMX crude oil.
Deal with Chevron aims to rebuild a crude oil pipeline that runs from Iraq's oil-rich Kirkuk to Syria's Baniyas.
China’s crude oil demand is expected to peak this year, according to executives from the country’s largest oil firm, a scenario set to further reshape the global energy market following the Strait of Hormuz crisis. The world’s top oil importer would record slowing demand as reductions in the use of transport fuel outweighed gains in petrochemical demand, said Zhang Changbao, vice-president of China National Petroleum Corporation (CNPC) Asia-Pacific (Hong Kong), at an event in Hong Kong on...
When will petrol and diesel prices come down? Union Petroleum Minister Hardeep Singh Puri says consumers may have to wait, even though global crude oil prices have eased. He said the fuel currently being sold at retail outlets was refined from crude purchased when the West Asia conflict had pushed prices, freight and insurance costs sharply higher.
The price cut follows a retreat in global crude oil prices after hostilities in West Asia eased and the reopening of a key maritime route restored the flow of crude oil and liquefied natural gas, reducing concerns over supply disruptions.