As the US–Israel war on Iran escalates, so too does the global oil crisis. The effective closure of the Strait of Hormuz, through which roughly 20% of the world’s oil and natural gas flows, and the targeting of oil production facilities in the Middle East have lifted the oil price by 34%.

Tema Oil Refinery (TOR) has said it possesses technical capability to refine domestic crude oil, disputing suggestions that the country’s only refinery cannot process output from the nation’s offshore oil fields.

South American nation’s tar-like oil is what many Gulf coast facilities were built for but ramping up production to 3m barrels a day will be a long game Clustered along the US Gulf coast are some of the largest and most complex heavy-oil refineries in ...

A Houston-based startup company with backing from India's Reliance Industries hopes to complete the first new American refinery in half a century.

The refinery, which will be built in Brownsville, Texas, is backed by Indian energy group Reliance Industries.