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Indian Refiners to Ask for Extra Saudi Oil After Sharp Price Cut

Jan 09, 2024

Two Indian state refiners are seeking to boost imports of Saudi crude oil after the kingdom cut the official selling price of its key export grade for February to the lowest in 27 months, company sources said.Indian Oil Corp, the country's top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1 million barrels of oil each from Saudi Aramco 2222.SE in February, the sources said…

Russia Considers Gasoline Export Ban

Jan 15, 2024

The Russian government is considering a ban on gasoline exports after an incident at Lukoil's NORSI oil refinery in Nizhny Novgorod, Interfax news agency reported on Monday, citing sources.The refinery may halve high-octane gasoline output after an emergency stoppage at a catalytic cracking unit…

Mott Awarded Contract to Support S-Oil's Shaheen Project

Dec 13, 2023

Filtration and flow control solutions company Mott Corporation announced a new eight-figure agreement with South Korean refiner S-OIL, an Aramco affiliate. Under the deal, Mott and its Korean partner DL E&C will provide filtration technology for S-OIL’s $7 billion Shaheen project in Ulsan…

China Refiners Cut Oil Output as Thin Margins, Quota Shortage Bite

Nov 06, 2023

China's oil refinery utilization rates are easing from record third-quarter levels as thinning margins and a shortage of export quotas discourage plants from raising output for the rest of 2023, according to traders and industry consultancies…

China Draws on Crude Oil Stockpiles While Boosting Refining

Oct 23, 2023

Chinese refiners dipped into crude stockpiles for the second time in three months in September as they processed record volumes of oil even as imports dipped.Refiners drew about 240,000 barrel per day (bpd) from inventories in September, a sharp reversal from August when they added about 1…

Asia Oil Refining Margins Climb, But a Peak Looms

Aug 24, 2023

The profit from turning a barrel of crude oil into refined fuels has hit a 13-month in Asia but there are signs that the rally may be starting to lose momentum.The profit margin, or crack, for processing a barrel of Dubai crude at a typical Singapore refinery DUB-SIN-REF climbed to $15…

Shell Taps Goldman Sachs to Explore Singapore Refinery Sale

Aug 23, 2023

Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter.The global energy major's new CEO…

China's Shandong Starts Releasing Oil Stranded at Ports after Inspections, Sources Say

Jun 28, 2023

China's Shandong refining hub has begun releasing millions of barrels of oil that were stuck at ports after inspections curbed imports into the province, trading sources said following a meeting this week between officials and refiners.The easing…

Asian Refiners Eager to Resume Iranian Oil Imports as High Prices Bite

Feb 17, 2022

Asian refiners, traditionally big buyers of Iranian oil, are keen to resume imports from Iran if there is an agreement to revive a 2015 nuclear deal, which could pave the way for more supply on global markets and soften prices.Most Asian buyers halted Iranian oil imports in 2019 after former U…

India's Top Oil Refiner Plans 10,000 Electric Car Charging Stations

Nov 03, 2021

Indian Oil Corp (IOC) will set up 10,000 electric vehicle charging stations in the next three years and is drawing up plans to cut greenhouse gas emissions from its operations to aid the country's net-zero carbon target by 2070, its chairman said on Wednesday…

Powerful Earthquake Shuts Down Fifth of Japan's Oil Refining Capacity

Feb 15, 2021

Japanese refiners led by the biggest, Eneos Corp, shut down a fifth of the country's crude oil refining capacity after a powerful earthquake struck northeastern Japan knocking out power, bullet train lines and injuring more than 150 people.The…

Shell to Shut Down Philippine Refinery and Turn It into Import Terminal

Aug 13, 2020

The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country's two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts.Pilipinas Shell Petroleum Corp said its 110…

S.Korean Refiners Post Record H1 Losses

Jul 29, 2020

Two refiners in South Korea, the world's fifth largest crude oil importer, posted their biggest losses ever in the first half when oil prices slumped as the COVID-19 pandemic ravaged fuel demand.SK Innovation Co Ltd, owner of South Korea's top refiner SK Energy…

New Zealand Refiner to Shrink. May Turn into Fuel Import Terminal

Jun 25, 2020

Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations to cut costs and breakeven into 2021.Refining NZ's Marsden…

Refineries around Asia Join Chinese Peers in Increasing Production

Jun 10, 2020

Refineries from India to South Korea are expected to increase output from June, joining their Chinese counterparts as the easing of lockdown measures boosts demand for oil products, industry executives said.The average operating rate for refineries in Asia is expected to rise to 75…

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