Imports Archives - Oil & Gas 360

EU moves to delay methane rule penalties for oil and gas imports

July 14, 2026

(World Oil) – The European Union’s executive arm wants to adopt recommendations next week delaying penalties on energy imports that fail to comply with the bloc’s controversial methane emissions regulation. Disagreements over the regulation—which targets emissions of the potent greenhouse gas within the EU and imposes new requirements on fossil fuel importers—have intensified after the U.S., Qatar and other gas-producing nations

Iraq pulls the plug on Iranian gas

December 24, 2025

(Oil Price)– Iraq on Tuesday announced a complete suspension of natural gas imports from Iran, a move the electricity ministry said immediately knocked between 4,000 and 4,500 megawatts off the national power grid. On its face, the decision sounds dramatic. In practical terms, it is but the final step in a process that was already well underway. Iraqi officials have

Indian Oil Corp. seeks to replace Russian oil with American barrels

October 30, 2025

(Oil price)– Indian Oil Corp. is looking to buy 24 million barrels of crude oil from the Americas in the first quarter of next year to replace lost Russian supply after the latest U.S. sanctions on Rosneft and Lukoil. Bloomberg reported that the company, which is India’s largest refiner, is looking for cargos from the United States, Canada, Brazil, and Latin America.

Analysis-Trump-Xi ’amazing’ summit brings tactical truce, not major reset

October 30, 2025

(Investing)– BUSAN, South Korea/BEIJING (Reuters) -U.S. President Donald Trump hailed a meeting with China’s Xi Jinping as “amazing” and “12” on a 10-point scale, but the agreement the two leaders reached appears to be no more than a fragile truce in a trade war with root causes still unresolved. The framework announced on Thursday – that includes China resuming soybean

US Northeast electricity imports from Canada drop, EIA reports

September 19, 2025

(BOE Report)– Electricity imports from Canada into New York Independent System Operator (NYISO) and Independent System Operator New England (ISO-NE) have dropped due to drought conditions in Canada and lower U.S. Northeast electricity demand, the U.S. Energy Information Administration (EIA) said in a report on Friday. The EIA noted that from January to August 2025, imports into New England’s ISO-NE

U.S. steps up sanctions on Chinese imports of Iranian oil

July 31, 2025

(Oil Price)– The U.S. has sanctioned a fourth oil import terminal in China for receiving Iranian oil cargoes as the State Department expanded sanctions against entities involved in trade with Iran. The U.S. Department of State designated a fourth China-based crude oil and petroleum products terminal, Zhoushan Jinrun Petroleum Transfer Co Ltd, as it “has a demonstrated pattern of accepting Iranian crude

EU’s $750 billion energy deal with U.S. will be hard to attain, experts say

July 28, 2025

(World Oil)– The European Union’s promise to buy $750 billion of American energy imports over three years was pivotal to securing a trade deal with President Donald Trump, but it’s a pledge it will struggle to keep. The deal would require annual purchases of $250 billion of natural gas, oil and nuclear technology, including small modular reactors, according to EU

EU proposes world’s first carbon border tax for some imports

July 14, 2021

Reuters BRUSSELS/LONDON – The European Commission on Wednesday put forward plans for the world’s first carbon border tax, on imports of carbon-intensive steel, aluminium, cement, fertilisers and electricity, as part of a programme to meet its new climate target. The border levy should be phased in from 2026, the Commission said, and is designed to protect European industries from competitors

How Russian and Saudi oil ties to China complicate the post-pandemic world

June 24, 2020

Forbes Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of oil, though it could cut imports if it stopped adding to inventory (storage). China has stored so much oil over that half

German hydrogen economy to spark traded market for imports: consultants

June 22, 2020

Reuters FRANKFURT – Germany’s push to increase the use of hydrogen as a clean fuel to meet climate targets will require imports and a traded market to supplement home-produced supplies, a consultancy close to protagonists in the emerging industry said. “There will have to be a mix of domestic and foreign hydrogen volumes, depending on where the cheaper source is,”

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

August 8, 2019

From Reuters China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves. According to the firms, which track tanker movements, between 4.4 million and 11 million barrels of Iranian crude were discharged into

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

August 5, 2019

From Reuters Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers. Brent crude LCOc1 fell $2.08, or 3.36%, to settle at $59.81 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1

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