BEIJING / Reuters China’s crude futures kicked off to a roaring start on Monday as western traders and Chinese majors eagerly traded the world’s newest financial oil instrument, which many expect to become a third global price benchmark alongside Brent and WTI crude. Global commodity trader and miner Glencore, and big merchants Trafigura, Freepoint Commodities and Mercuria were among the …

BEIJING / Reuters Russia kept its spot as the largest crude oil supplier to China in February, data showed, a role it held in January and for the past two years on an annual basis. Russia supplied 5.052 million tonnes, or 1.32 million barrels per day (bpd) last month, up 17.8 percent from a year earlier, data from the Chinese …

Bloomberg Norway’s oil industry has one more thing to worry about. After an unprecedented lawsuit against Arctic drilling, environmentalists have launched a new legal battle to challenge a tax incentive that’s been a cornerstone of the country’s policy to stimulate oil exploration. The move comes at a bad time for Norway, which needs to step up the search for new …