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The Latest Breaking News from Kpler

India's fuel exports fall to lowest since 2022 amid refinery maintenance, domestic demand

India's refined fuel exports dropped significantly in May, reaching their lowest point since October 2022. Refinery maintenance, particularly at Reliance Industries' Jamnagar complex, reduced processing. Refiners also prioritized domestic demand for LPG, cutting petrol and diesel output for export. Favorable domestic sales and taxes on exports further influenced this trend.…

The Economic Times

Crude, LPG supply to India smoothens in May after two glitchy months; LNG supply beats pre-war levels

In May, India's oil and gas imports showed clear signs of recovery after recent setbacks, with crude oil inflows rising, though they have not yet reached the robust numbers seen in February. Natural gas supplies saw a notable upswing, going past pre-war levels.

The Economic Times

War shifts 80% of India's diesel exports to Africa

India's diesel exports saw a significant shift in May. Africa became the primary destination, absorbing over 80% of shipments. This change happened as demand from Asia and Europe weakened. Geopolitical tensions also reshaped global diesel trade flows. Higher refinery operations in Asia reduced import needs. Europe received no diesel, while…

The Economic Times

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Why Asia's oil lifeline can't survive on US crude alone

Asian nations are receiving more crude oil from the United States. However, these increased shipments cannot fully replace oil lost due to the closure of the Strait of Hormuz. This situation is creating supply challenges for refineries. Experts believe prices for refined fuels may rise. Less developed countries in Asia…

The Economic Times

Three oil, LNG tankers exit Hormuz with transponders off

Two supertankers and an LNG tanker, with transponders off, exited the Strait of Hormuz bound for India and China. These vessels, carrying crude oil and naphtha, are heading to ports in China and India, despite overall limited traffic through the key waterway. The ongoing conflict has significantly impacted shipping in…

The Economic Times

India turns to Latin American, African oil after Hormuz disruption

Indian refiners sought oil from Latin America and Africa as Middle East supplies faced disruptions. Imports from Venezuela, Brazil, Angola, and Nigeria increased. Russia remained a key supplier, though its share saw a dip. The UAE and Saudi Arabia saw increased imports. Overall oil imports in April remained steady but…

The Economic Times

Vessels carrying Mideast oil, LNG exit Hormuz for Pakistan, China

SINGAPORE - Two ‌liquefied natural gas tankers were exiting the Strait of Hormuz on Monday, heading to Pakistan and China, while a supertanker with Iraqi crude for China left the Gulf on Saturday after being stranded for nearly three months, shipping data showed.

Bangkok Post

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Iran war: Vessels carrying Middle East oil, LNG exit Hormuz, head for Pakistan, China

Iran war news: An LNG tanker, Fuwairit, is exiting the Strait of Hormuz for Pakistan. A supertanker, Eagle Verona, carrying Iraqi crude for China, has also left the Gulf. Shipping through the Strait of Hormuz is significantly reduced due to the U.S.-Israeli war on Iran. These vessels are among a…

The Economic Times

India vows to keep purchasing Russian oil, US ‘waiver or no waiver’

India’s imports from Russia has hit record levels driven by the disruption of Middle Eastern supplies from the Iran war

The Independent UK

India's cooking fuel shortage is driving up California's gas prices

India's cooking gas shortage, driven by the Strait of Hormuz closure, forces refiners to cut alkylate production. This directly impacts California's gasoline supply, as alkylates are crucial for its unique blend, leading to higher prices for motorists already facing a global fuel crisis.

The Economic Times

Nigerian refinery accused of sacking union members is key to UK plan to tackle jet fuel shortage

Heidi Alexander says part of answer to strait of Hormuz crisis is importing more fuel from US and west Africa

The Guardian - UK

Analysis: US blockade is squeezing Iran's all-important oil industry

Even as Iran maintains its chokehold on the Strait of Hormuz, the Islamic Republic increasingly finds itself squeezed by an American blockade threatening its oil industry

The Independent UK

Iran Has Less Than a Month Of Oil Storage As U.S. Blockade Of Its Ports Continue: Report

Iran has less than a month of oil storage as the U.S. continues to block its ports during the war, an intelligence firm said.

International Business Times

Trump's surge in oil exports during Iran war will hit a ceiling

Infrastructure limits are likely to put a hard limit on how much more oil the U.S. can export.

Axios

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Euronews

EU to boost jet fuel imports from the United States amid shortage fears

EU Transport Commissioner Apostolos Tzitzikostas has said there are no indications of jet fuel shortages, but stressed the importance of acting quickly and appropriately. The use of emergency stocks is under consideration "if real supply issues arise".

The Independent UK

How a US blockade on Iran has sanctioned ships turning around

The U.S. Navy is imposing a sea blockade against Iran — the latest escalation in the war that has seen the flow of key energy supplies choked off at the Strait of Hormuz

Euronews

Energy prices set to rise as last Gulf Tankers reach Europe, analysts say

Energy analysts have warned of surging energy prices beyond already elevated levels, as the last vessels carrying oil and natural gas from the Strait of Hormuz before the conflict have reached Europe. Supply forecasts for oil and gas remain optimistic as US deliveries are expected.

The Independent UK

Trump’s blockade appears to be turning back tankers in the Strait of Hormuz – but Iran has a trick up its sleeve

Analysts say that Iran has already moved vast quantities of its oil offshore and a full blockade would be complex to implement

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Euronews

Magyar keeps door open to Russian energy despite EU phase-out plans

At his first press conference after being elected Prime Minister of Hungary, Péter Magyar said on Monday that the country will continue seeking the cheapest energy sources, including from Russia. His statement appear to clash with earlier pledges to phase out Russian energy imports by 2035.

Euronews

How long can the EU’s oil reserves last?

The 400 million barrels of oil released by the International Energy Agency — of which 92 million barrels were contributed by 20 EU countries — could last about five months, according to analysts. The bloc also relies on storage reserves.

The Independent UK

Oil-thirsty Asian nations seek Russian crude as Iran war strains supplies

Asian nations are increasingly competing for Russian crude oil as an energy crisis mounts amid the U.S. and Israeli war in Iran, which has choked off roughly a fifth of the world’s oil supply

International Business Times UK

Iran Earns Nearly Double From Oil During War As Strikes Fail To Halt Energy Exports And Global Prices Rise

Despite military strikes, Iran's oil exports have surged, doubling its daily revenue as global crude prices rise.

The Guardian - UK

China’s ‘teapot’ oil refineries keep economy brewing – but surging crude prices leave them strained

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins

The Independent UK

Iran suggests Spain may be able to send ships through Strait of Hormuz as it is ‘non-hostile’ country

Iran remains in control of the Strait of Hormuz and attacks on vessels have caused chaos in energy markets

Euronews

Europe loses its grip as LNG cargoes chase higher prices in Asia

Europe is losing LNG shipments to Asia as the war in the Middle East impacting Qatari facilities pushes prices higher. Italy and Belgium scramble for alternative supplies in mega competitive market.

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