oil industry

Nasser says Aramco now restarts attacked sites in days

Drones hit Saudi Aramco's biggest oil pipeline last month and burned one of its pumping stations to the ground. By the next day, bulldozers had started building a replacement line, and pumping started again within days, Reuters reported on Thursday.…

US sanctions 17 tankers in Iran shadow fleet crackdown

The U.S. Treasury Department announced new Iran-related sanctions on Thursday, Oct. 8, aimed at what it called the "remnants" of Tehran's shadow fleet, the aging tankers Iran uses to ship oil to foreign buyers. Treasury said the action "effectively neutralizes…

Iran’s oil minister Paknejad resigns amid US blockade

Iranian Oil Minister Mohsen Paknejad resigned on Sunday. President Masoud Pezeshkian accepted the resignation and put Hamid Bovard, chief executive of the state-owned National Iranian Oil Company (NIOC), in charge of the ministry as acting minister, Iranian state media reported.…

Eni signs Venezuela oil deal to recover $2.3B debt

Italian energy company Eni signed an agreement with Venezuela's state oil company PDVSA on Wednesday to develop the Junin 5 heavy oil project in the Orinoco Belt, a move analysts say improves the company's chances of recovering more than $2.3…

  • 3 mins

China demands rights in Venezuela after U.S. firm takes over oilfields

A U.S.-backed oil company will assume control of Venezuelan oil fields previously operated by Chinese and Russian firms, in a move that reshapes the energy landscape in Latin America and deepens Washington's grip on one of the world's largest crude…

Saudi Arabia explores $8 billion loan as Iran war strains finances

Saudi Arabia's National Debt Management Center is in early-stage discussions with banks to raise at least $8 billion through a fresh loan, as the economic fallout from the Iran war strains the kingdom's finances and disrupts its oil sector, according…

  • 2 mins

Ukrainian drones spark fire at Russia’s largest Baltic oil port

Ukraine launched a mass drone attack overnight on Aug. 14 against Russia's largest Baltic Sea port of Ust-Luga, sparking a fire at the critical oil export hub and extending Kyiv's campaign to choke off Moscow's energy revenues more than four…

  • 2 mins

Houthis claim drone strike on Saudi Aramco refinery in Jazan

Yemen's Houthi group claimed responsibility on Thursday for a two-drone strike on Saudi Aramco's oil refinery in Jazan, southern Saudi Arabia, in the latest escalation of cross-border attacks targeting the kingdom's energy infrastructure amid broader regional tensions.

Trump administration warns Ukraine over Black Sea tanker strikes

The Trump administration formally warned Ukraine on Wednesday, July 22, to stop attacking non-Russian vessels in the Black Sea, after drone strikes hit four tankers near the Russian port of Novorossiysk that were loading oil produced in Kazakhstan, according to…

Ukraine drones strike more Russian oil sites as fuel crisis grips 90% of regions

Ukrainian drones struck oil infrastructure across Russia overnight into Thursday, targeting a port in Taganrog and oil storage facilities in Azov in the Rostov region, while an oil refinery in the Krasnodar region caught fire, as Kyiv's sustained campaign against…

Ukraine strikes Russia’s largest oil refinery in Omsk

Ukrainian drones struck the Omsk Oil Refinery on Sunday night, marking the first confirmed attack on Russia's largest refining facility and extending Kyiv's deep-strike campaign to a target more than 2,500 kilometers from Ukrainian-held territory. The head of Ukraine's Center…

Hengli scraps 6 million barrels of oil as sanctions bite

China's Hengli Petrochemical has cancelled purchases of at least 6 million barrels of non-Iranian crude oil and slashed its refinery output to half capacity, as US sanctions imposed over alleged Iranian oil purchases continue to ripple through global trade flows.

Saudi Aramco helicopter crash kills all 14 onboard

A helicopter belonging to Saudi Aramco crashed on Sunday at approximately 6:00 a.m. local time in Ras Tanura on Saudi Arabia's eastern coast, killing all 14 people on board, the Saudi Press Agency reported citing a Ministry of Energy official.

Iran says 35 million people face water shortages as crises mount

Iranian authorities warned on Monday that approximately 35 million people face water shortages heading into summer, as a convergence of drought, a U.S. naval blockade, mass layoffs, and a prolonged internet blackout pushes the country toward what analysts describe as…