Economics
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.
India diesel exports to Singapore set for highs in Aug, drop for Europe
India's diesel exports to Singapore are set to hit a 19-month high in August and exceed 330,000 metric tons, boosted by cheaper freight costs and low inventories in the Asian oil hub, traders and analysts said.
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.
Total spending on fuel subsidies topped $7 T in 2022, IMF says
Global subsidies for fossil fuels rose by $2 T over the past two years to reach a record $7 T in 2022, according to new estimates from the International Monetary Fund.
U.S. expands sanctions on Myanamar jet fuel, cites junta airstrikes
The United States expanded its sanctions against Myanmar to include foreign companies or individuals helping the country’s military junta to procure jet fuel that it uses to launch airstrikes on its own people, the U.S. Treasury Department said in a statement.
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.
- Rompetrol completes DCU project at Petromidia refinery 7/17
- U.S. SAF production forecast to eclipse 50,000 bpd by 2026 7/17
- Pertamina expects Balikpapan's CDU IV to resume later this month 7/17
- Exxon shut Joliet, Illinois, refinery after power outage 7/17
- ExxonMobil introduces Enable™ 1617 performance polyethylene 7/17
- Tribunal rejects TC Energy's $15-B claim for Keystone XL 7/17
- Digital Exclusive: SPECIAL FOCUS: Digital Technologies—Utilize process simulation digital twin to optimize condensate yield
- Digital Exclusive-Flare system design: Liquid pockets in flare headers
- Hydrogen-rich content gasoline: A new concept for paraffinic gasoline reformulation
- Alarm rationalization at Kuwait National Petroleum Company (KNPC) refineries
