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Nigeria’s Mega Refinery Halts Petroleum Sales in Naira

OilPrice

Nigerias Dangote Petroleum Refinery has suspended sales of petroleum in the country after it stopped receiving naira-denominated crude cargoes from the state-owned Nigerian National Petroleum Company (NNPC). To date, our sales of petroleum products in naira have

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Iraq Seals Major Oil Deal with Chinese Company

OilPrice

Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily.

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Record Refining Helps Saudi Oil Income amid Crude Price Decline

OilPrice

Saudi Arabias oil revenues have been suffering from the oil price slump during the second quarter. While Saudi Arabia has been restricting crude oil production and exports as part of the OPEC+ deal, it has been running refineries at near-record levels this year and exporting record-high volumes of refined petroleum products.

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U.S. crude oil inventories decrease by 3.6 million barrels

Oil & Gas 360º

Weekly Crude Oil Storage as of June 6, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 Summary of weekly petroleum data for the week ending June 6, 2025 U.S. crude oil refinery inputs averaged 17.2 crude oil imports averaged 6.2

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US refinery capacity grew by nearly 40,000 bpd to 18.4 million bpd in 2024

BOE Report

refinery crude oil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 Motiva Enterprises’ Port Arthur, Texas, plant became the largest single refinery by capacity at 640,500 bpd, passing Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, according to [Read more]

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US Weekly Oil Data (With a summary of oil outlook for 2025 and 2026 in light of recent developments)

Energy Outlook Advisors

April 9, 2025 Subscribe now IN DETAIL US crude oil inventories rose by 2.553 mb to 442.3 US Strategic Petroleum Reserves grew by 0.276 mb to 396.7 The EIA estimated US oil demand at 19.481 mb/d, down 0.641 mb/d from the prior week. mb last week, per the EIA (Figure 1). Cushing inventories declined by 0.681 mb to 25.759 mb.

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China Tightens Grip on Iraq’s Energy Future with Massive Basra Megaproject

OilPrice

Chinas Geo-Jade Petroleum has signed a swathe of major contracts that give Beijing control over Iraqs first fully integrated energy project. It also includes the construction of a 520,000-tonne annual capacity fertilizer plant, developing a

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