China’s Independent Refiners Shift Focus Amid Iranian Supply Crunch
China’s independent refiners, known as “teapots,” are facing growing challenges in securing Iranian crude oil, prompting a significant shift in their sourcing strategies. Iranian oil, traditionally a cost-effective option for these refiners, has become increasingly scarce and expensive. This is largely due to the broadening of U.S. sanctions in October, targeting tankers involved in the […]
Global Energy Markets Struggle Amid Gas Price Surges, Supply Disruptions, and OPEC+ Uncertainty
European natural gas prices have jumped nearly 45% this year, driven by cold weather forecasts and U.S. sanctions on Gazprombank, a key Russian financial entity. Northwest Europe is experiencing its first notably cold winter since 2021, with temperatures below the 30-year average, causing gas inventories to drop to 87.7% of capacity. LNG (liquefied natural gas) […]
Turkey’s Top Refiner Tupras Locks in Over 500,000t Bitumen Sales for 2025
Turkey’s largest refiner, Tupras, has signed agreements for the supply of over 500,000 tons of bitumen in 2025, sourced from its Izmit and Izmir refineries. As reported by Argus media, These contracts, awarded through a tender process, attracted major international players, including Rubis Asphalt, Continental Bitumen (Colas), and Vitol, highlighting Tupras’ critical role in the […]
Spain’s Huelva Refinery Bitumen Supply Restricted
Bitumen production and supply from Spain’s 220,000 b/d Huelva refinery have faced significant constraints over the past month, with no signs of recovery in the near future. Market participants, as reported by Argus Media, attribute the slowdown to a change in the refinery’s crude slate, moving away from bitumen-rich grades. However, the refinery’s operator, Abu […]
Cool Asphalt Technologies for Winter Safety – PART 2
In Part ONE we explored how innovations like self-de-icing asphalt and heated pavements are making winter roads safer and more efficient. But there’s even more happening in the world of asphalt technology! From self-healing roads to materials that bend with the freeze-thaw cycles, here are the next-level solutions reshaping winter road durability. 6. Rubberized Asphalt: […]
Cool Asphalt Technologies for Winter Safety – PART 1
Winter roads can be a real challenge—ice, snow, and freezing temperatures turn them into safety hazards. Traditional methods like plowing and salting help, but they’re not perfect and can harm the environment. Thankfully, modern asphalt technology is here to save the day! From ice-melting roads to eco-friendly solutions, here are some innovations making winter travel […]
U.S. Gas Prices Expected to Drop Below $3 Per Gallon for Thanksgiving Travel
American drivers may have an extra reason to celebrate this Thanksgiving, as gas prices are on track to fall below $3 per gallon nationwide, the lowest since May 2021. Current reports show the average price is $3.071 per gallon, down from $3.191 a month ago and $3.320 a year ago. The median gas price now […]
Energy Majors Unite to Expand LPG and Clean Energy in Africa and Asia
Four of the world’s largest energy companies—bp, Equinor, Shell, and TotalEnergies—have pledged a joint investment of $500 million to enhance access to energy and clean cooking solutions across sub-Saharan Africa and South and Southeast Asia. The initiative, managed by a global private equity firm, focuses on impactful projects such as solar home systems, mini-grids, energy […]
Geopolitical waves are washing over the tanker market as, China redirects global oil flows
Recent shifts in China’s crude oil import patterns are impacting tanker market dynamics, according to a report by shipbroker Gibson. Weak demand for crude in China, driven by the rising adoption of electric vehicles, reduced industrial activity, and declining consumer spending, has emerged as a major factor in tanker markets. The International Energy Agency (IEA) […]
Russia’s Novatek to Raise Naphtha Exports to 600,000 Tons Monthly
Russian energy company Novatek is expected to boost its naphtha exports from the Ust-Luga complex on the Baltic Sea to up to 600,000 tons per month. This increase follows recent maintenance and the addition of a new processing unit, according to industry sources. Operations at Ust-Luga’s three condensate fractionation units were increased in early November, […]
