All news on the topic: Oil

The effort to counter Russia’s so-called “shadow fleet” continues, with new details emerging regularly.

A Texan oil refinery has exploded, shaking residents’ homes as they are urged to find shelter.

In a world full of prohibitions, there will always be those who find ways to bypass them. This isn’t about drugs or weapons—it’s about oil, where some nations wield sanctions with fervor that might be better directed elsewhere.

Authorities probing possible sanctions evasion among local companies in 2022 placed Alkagesta among the firms under review.

Tahir Garaev and his team are among the key operators of Russia’s oil exports after the start of the war.

Donald Trump has announced that Venezuela will be "turning over" $2 billion worth of Venezuelan crude to the United States, a significant negotiation that would redirect supplies from China while assisting Venezuela in avoiding deeper oil production cuts.

The company Alkagesta exports Russian oil to Ukraine via Romania.

Oil price increase likely to add 5p to petrol and diesel over the next couple of months, expert says

FUEL smuggling out of Libya is a billion-dollar business, but little is known about the scale of the maritime operation that routinely ferries refined petroleum products out of Libya.

Russia has successfully found ways to bypass the $60 price cap on oil set in December 2022 by the G7 countries, earning an extra $53 billion from this strategy in just the first three quarters of 2024.

In 2022, while researching locally-based companies that were potentially violating sanctions, Alkagesta was on my list. The Azerbaijani-owned company is a commodity trader headquartered in Malta with operations in Turkey, Azerbaijan, Turkmenistan, and even Georgia.

Donald Trump, who previously described Lady Victoria Starmer as the British Prime Minister’s ’greatest asset’, said she is a ’beautiful, great woman’ and that Sir Keir is ’very lucky’ to have her.

While speaking at the Republican CPAC conference, Donald Trump said he wants the US to get ’rare Earth and oil’ from Ukraine after Joe Biden gave the country $350 billion.

The Biden administration has imposed some of its toughest sanctions yet on Russia, in a move designed to hit Moscow’s energy revenue that is fuelling its war in Ukraine.

The little-known businessman Roman Spiridonov has recently been linked to two notable scandals.

Greek businessman Roman Spiridonov, through his company Petroruss, not only launders money for large Russian state oil companies but also handles maritime transport for them, managing to avoid Western sanctions in the process.

Since the start of its full-scale invasion of Ukraine, Russia has run a budget deficit, and a draft of the 2025 edition anticipates a shortfall of 1.1 trillion rubles (approximately $11 billion, or 0.5% of GDP).

Poorly maintained and uninsured vessels transporting up to 70% of country’s seaborne oil, says report

Despite international sanctions, petrodollars continue to flow into Russia’s budget — primarily thanks to a “shadow fleet” that ships Russian oil to buyers willing to pay prices above the $60 per barrel cap imposed by the G7+ Coalition.

Countries opposed to Moscow are spending ever more on cheap fuel made from Russian oil, according to a new analysis shared with POLITICO.

Battle ahead for Labour as it introduces higher taxes and tougher environmental rules on producers

Reduction of about a fifth of workforce in two subdivisions part of plan to slash up to $3bn in costs by end of 2025

Shares in FTSE 250 company slump 37% in early trading after Dubai-based Sidara cites geopolitical risk

Nigerian anti-crime authorities announced Wednesday they had deactivated two illegal refining sites containing two ovens, two dug-out pits, and three storage units filled with large amounts of stolen crude oil in the Konsho area of Akassa, Bayelsa State.