Crude oil
Abundant, cheap Iranian oil supply to cap Russian prices in China
Rising prices of a popular Russian crude sold to China are poised to peak soon as more independent refiners are likely to switch to cheaper oil from Iran which has ramped up exports to fresh 4-1/2 year highs in August, several trade sources said.
Indian refiner HPCL meets up to 23% of oil need with Russian grades
Indian refiner Hindustan Petroleum Corp Ltd is meeting up to 23% of its oil needs through discounted Russian grades, its chairman Pushp Kumar Joshi said at the company's annual shareholder meeting.
India’s sluggish oil consumption weighs on global prices
India’s petroleum consumption increased to a record high in the first seven months of 2023 but growth has slowed markedly as the rebound from the coronavirus pandemic and lockdowns is completed.
China's Shandong province completes country's largest port oil storage facility
The third phase of China's largest single coastal oil storage facility has been completed and went into operation in Qingdao port, in the eastern province of Shandong, the state media outlet China News reported.
Singapore's middle distillates stocks surge despite higher gasoil exports
Singapore's middle distillates stockpiles surged by more than 1 million barrels from last week, as the impact of lower jet fuel/kerosene outflows offset an increase in gasoil net exports, official data showed.
Turkish ministers discuss oil exports with Iraqi Kurdistan PM
Turkey's foreign and energy ministers met the head of Iraq's semi-autonomous Kurdistan regional government for talks, including on oil exports, which Turkey has blocked from the region since March this year.
Asia oil refining margins climb, but a peak looms
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.
Oil down 1% as weak U.S. gasoline demand offsets big draw in crude stocks
Oil prices were down 1% as a build in US gasoline stocks fed worries about demand after Japan and Europe posted gloomy manufacturing data.
Shell taps Goldman Sachs to explore Singapore refinery and petchem plant sale
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.
Oil slides on grim manufacturing data
Oil prices slid almost 2% as gloomy global manufacturing data grabbed attention ahead of an annual meeting of central bankers at Jackson Hole in the United States, with interest rates high on the agenda.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
