The US and a group of eight petrostates have made renewed attempts to thwart the International Maritime Organization’s new decarbonization rules, creating uncertainties in future bunker markets while readying themselves for a showdown in October. During the UN...

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During the first seven months of 2025, Nigeria’s seaborne imports of clean petroleum products (CPP) declined by 39% compared to the same period in 2024, reaching 230 thousand barrels per day (kbpd). The decrease follows a 19% reduction during 2024,” says Niels...

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Wood Mackenzie to unveil two additions to its Lens Subsurface platform at IMAGE 2025, delivering Prospect Valuation and AI-powered Analogues. The new tools will enable companies to focus Upstream investment on advantaged resources, those with the most robust economics...

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Asian refiners widely believe that tighter sanctions on Russian oil trades for India adversely affect the Middle Eastern sour crude procurement economics across the region, as the Dubai price structure’s backwardation averages nearly $3/b in the third quarter. In...

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China has taken countermeasures against two banks in the European Union, in response to the bloc placing two Chinese financial institutions on a Russia-related sanctions list, its commerce ministry said. Effective immediately, Lithuanian banks UAB Urbo Bankas and AB...

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The Vietnam Food Association has asked the country’s trade ministry to challenge a move by the Philippines to suspend rice imports for two months, two sources told Reuters, with traders saying it will harm local production. The Philippines, Vietnam’s biggest rice...

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