petroleum

Aramco CEO says kingdom seeks foreign strategic storage

Saudi Arabia and Aramco are looking for partnerships with other countries to expand strategic oil storage, Chief Executive Amin Nasser said in an interview with Al Arabiya Business that aired on Thursday, October 22. He said he expects oil demand…

North Sea oil premiums hit records as Saudi Aramco cuts Europe supply

The attack on Saudi Arabia's East-West pipeline has triggered a scramble among European refiners for alternative crude supplies, driving physical premiums for North Sea oil to levels never seen before and deepening a fuel crisis that stretches from the United…

China may restrict fuel exports as inventories hit multiyear lows

China's gasoline and diesel inventories are falling fast, raising the prospect that Beijing will once again restrict fuel exports just months after lifting wartime controls that froze shipments earlier this year.

Saudi Arabia weighs expanding Red Sea oil pipeline by up to 2M bpd

Saudi Arabia is considering expanding the capacity of its East-West crude oil pipeline to the Red Sea coast by up to 2 million barrels per day, as the kingdom and its Gulf neighbors seek to permanently reduce their dependence on…

China lifts fuel export curbs amid ample domestic supply

China is easing restrictions on refined fuel exports that were imposed after conflict in the Middle East disrupted crude oil flows earlier this year, allowing state-owned refiners to ship larger volumes of gasoline and diesel to a wider range of…

China and India ease fuel restrictions as supply fears recede

China will allow state-owned refiners to export up to 800,000 metric tons of refined fuel in July, up from roughly 600,000 tons in June, and is dropping destination restrictions for the first time since curbs were imposed in March, according…