Nearly 1,000 evacuated, at least 5 injured as massive blaze ravages Indonesian oil refinery (VIDEOS)

An oil refinery, located in West Java province of Indonesia, has caught up fire amid reports a loud bang was heard before the facility went up in flames. Some 950 people have been evacuated, and several have been injured. … Read More >Nearly 1,000 evacuated, at least 5 injured as massive blaze ravages Indonesian oil refinery (VIDEOS)

Maduro’s Oil Bonanza: Under What Conditions Will Energy Giants Return to Venezuela?

Oil companies are reportedly considering returning to Venezuela after President Nicolas Maduro signalled that he was ready to end the monopoly of state-owned Petroleos de Venezuela SA (PDVSA) and open the industry up to foreign investments earlier this year, according to Bloomberg. … Read More >Maduro’s Oil Bonanza: Under What Conditions Will Energy Giants Return to Venezuela?

India to cut Saudi oil imports amid escalating standoff over output & diversification drive

Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, Reuters has reported, citing its sources. This comes after calls from India to increase crude production were ignored by OPEC. … Read More >India to cut Saudi oil imports amid escalating standoff over output & diversification drive