At least six Asian economies have expressed interest in buying liquefied natural gas (LNG) to narrow their trade deficit with the United States and fend off tariffs, while others look to expand and diversify supplies. Companies in the U.S., the world’s largest exporter of LNG, are pushing ahead...
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India: TotalEnergies to Supply GSPC with 400,000 Tons of LNG per year from 2026
During a ceremony held in New Delhi on the sidelines of the India Energy Week, TotalEnergies and the Gujarat State Petroleum Corporation Limited (GSPC), a state-owned oil and gas company, announced the signing of a long-term Sale and Purchase Agreement (SPA) for a term of ten years starting in...
Low-sulphur gasoil deliveries for February rise at expiry, ICE data shows
Deliveries of low-sulphur gasoil (LGOc1) for February rose to 1,574 lots or 157,400 tonnes at expiry, up from 836 lots in January, InterContinental Exchange (ICE) data showed on Wednesday. The contract expired at $731 a tonne, down from $732.50 a tonne at the January expiry. Source: Reuters
Japan’s JERA sees rising competition for US LNG as Asia, Europe demand grow
Japan’s top power generator JERA expects competition for U.S. liquefied natural gas (LNG) to increase as demand from Asia and Europe rises, its Asia CEO said on Wednesday. “There are many potential buyers. Asian and European buyers are really interested in U.S. energy. So, there are many...
Korean oil refiners mull Canadian crude with Trump’s tariffs expected to drive down prices
Korean oil refiners are actively mulling the importation of Canadian crude oil, possibly at slashed prices, looking to take advantage of U.S. President Donald Trump’s proposed hefty 25 percent tariff on Canada that could leave the country with no alternative but to send some of its stock to Asia....
Ukraine almost doubles iron ore exports as it regained access to Black Sea ports
Iron ore export geography became more diverse, including once again China Despite jump, iron ore exports restored to only three-quarters of pre-war vol Ukraine managed to almost double its iron ore exports in 2024 after the country’s operational iron ore miners were able to resume shipping from...
Indian Oil buying sanction-free Russian crude oil cargoes, chairman says
Indian Oil is buying Russian crude oil cargoes without the involvement of sanctioned entities and expects gasoline demand to grow 6-7% in the fiscal year 2026, the company’s chairman said. Diesel demand will grow 4% in the year to 2026, he said. Indian petrochemical margins will remain weak in...
Iran vows to fight Donald Trump’s max pressure to slash its oil exports
Iran vowed to take its own “measures” that will doom US President Donald Trump’s “maximum pressure” campaign to cripple the OPEC nation’s revenue from crude. “We will adopt measures according to our conditions,” energy minister Mohsen Paknejad said, according to a Feb. 9 statement published by the...
China’s Crude Oil Imports Decreased From A Record As Refinery Activity Slowed
Slower oil demand growth in 2024 led to less crude oil processed by China’s refineries and fewer crude oil imports compared with the record high set in 2023. China, the world’s largest importer of crude oil, received 11.1 million barrels per day (b/d) in 2024, down from 11.3 million b/d in 2023....
India’s thermal coal imports seen falling for second straight year
India’s thermal coal imports are expected to fall for the second straight year in 2025 due to decreasing dependence on coal for power generation, slowing economic activity and record high inventories, industry officials said this week. All six Indian and international coal traders Reuters spoke...