Every year, the world uses roughly 37 billion barrels of oil. Most is burned to power cars, trucks, planes, ships and other types of transport. For more than a century, this energy-dense hydrocarbon ...

The Ministry of Finance has proposed reducing preferential import taxes to 0% on certain petroleum products, amid the Middle ...

The Ministry of Finance has proposed reducing import taxes on gasoline and diesel to 0%, due to the conflict in the Middle ...

Petrochemicals are expected to drive refinery runs, although changes to the naphtha consumption tax may prompt refiners to shift toward liquefied petroleum gas (LPG) and diesel feedstocks.