Mitsubishi and Mitsui have stakes in the massive Sakhalin-2 project, while Marubeni and Itochu have invested in Sakhalin-1 oil project, from which Exxon Mobil is now withdrawing

Jet fuel prices have soared, leaving global carriers who have already been hammered by Covid-19 over the last two years having to pass on higher costs via fuel surcharges and increased fares

European diesel supplies have shrunk following the disruption caused by sanctions imposed on Russia in response to its invasion of Ukraine

US President said the move would deal a blow to Putin’s ‘war machine’ but warned of inevitable gasoline price rises

Japan, which counts Russia as its fifth-biggest supplier of crude, is in discussion with the US and European countries about possibly banning Russian oil imports, Kyodo says

The state planning body plans to boost output and reserves of oil, gas, as well as coal, which powers more than 60% of China's electricity generation plants

The world's biggest gathering of energy industry leaders returns to Houston this week as Russia's invasion of Ukraine delivers an oil price shock to the global economy

Nghi Son refinery has the capacity to process 200,000 barrels of crude oil a day but the site lowered the operating rate in January

Asia's third-largest economy, which imports 80% of its oil needs, faces retail inflation staying above the central bank's tolerance limit of 6%

Islamabad announced a cut in fuel and electricity prices despite a steep global rise in the cost of oil, pledging to freeze the new rates for four months

Analysts say soaring prices for fuel will push consumers into electric vehicles and boost investment in clean technologies like hydrogen, but it also spurs more drilling of oil and gas

Gulf producers have not committed to additional supplies for BPCL, as allocations for April loading are due to be finalised next week