UK Adjusts Sanctions on Russian Oil Derivatives Amid Global Fuel Price Surge.
To combat soaring energy costs driven by the closure of the Strait of Hormuz, the UK government has introduced a license allowing the import of jet fuel and diesel refined from Russian crude in third countries.
China's Private Refiners Request Production Cuts Amid Economic Pressure.
Private oil refiners in China are seeking government permission to lower processing rates due to rising input costs and tighter profit margins caused by geopolitical tensions in the Persian Gulf.
Sri Lankan Fuel Dealers Urge Presidential Intervention Over Commission Cuts.
The Petroleum Dealers’ Association has appealed to President Anura Kumara Dissanayake to address financial hardships caused by a new, tiered fuel commission structure that replaced the previous percentage-based model.
Escalating Geopolitical Tensions Drive Sri Lanka's Oil Import Costs to Record Highs.
HSBC CEO Georges Elhedery reveals that global energy market disruptions have forced nations like Sri Lanka to pay as much as $286 per barrel for oil, far exceeding international benchmark prices.













