Middle East
India to fill Mangalore strategic reserve with UAE oil
NEW DELHI (Reuters) -- India signed a deal with the United Arab Emirates on Wednesday that allows the Gulf nation to fill half of an underground crude oil storage facility at Mangalore that is part of New Delhi's strategic reserve system.
Russia beats Saudi Arabia as China's top crude oil supplier in 2016
BEIJING (Reuters) -- Russia overtook Saudi Arabia in 2016 to became China's biggest crude oil supplier for the first year ever, customs data showed on Monday, boosted by robust demand from independent Chinese "teapot" refineries.
Petrotechnics technology selected for Aramco Jazan refinery
DAMMAM, Saudi Arabia – Petrotechnics, the developer of Proscient – the hazardous industries’ first software platform for Operational Excellence – has been selected by Accenture to deliver its solution for Saudi Aramco’s new Jazan refinery complex. Proscient will be implemented as part of Saudi Aramco’s integrated manufacturing operations management system (imoms) to reduce risk, improve productivity and lower costs.
Shell to sell stake in Sadaf Chemicals JV in Saudi Arabia to SABIC
Shell and SABIC have signed an agreement whereby SABIC will acquire Shell’s 50% share in the petrochemicals SADAF JV, located in Jubail, Kingdom of Saudi Arabia for $820 million. The SADAF joint venture encompasses six world-scale petrochemical plants with a total output of more than 4 million metric tons per year. This announcement marks an early termination of the joint venture agreement which was due to expire in 2020.
Saudi Arabia crude exports rise to 8.258 MMbpd in November
DUBAI (Reuters) -- Saudi Arabia's crude oil exports in November rose to 8.258 MMbpd from 7.636 MMbpd in October, official data showed on Thursday.
Saudi petchem giant SABIC's profit jumps as industry recovers
RIYADH (Reuters) -- Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, gave further evidence of a recovery in the sector on Thursday with its first profit rise in ten quarters.
Iran, China to sign $3 billion contract to upgrade Iranian refining capacity
BEIRUT (Reuters) -- Iran and China will sign a $3 billion contract next month to upgrade Iran's oil refining capacity, according to Iran's Mehr News agency.
ADNOC to improve energy efficiency by 10% by 2020
ABU DHABI, UAE – The Abu Dhabi National Oil Company (ADNOC) announced, today, it plans to introduce measures that will increase energy efficiencies by 10% by 2020. The energy efficiency strategy will reduce ADNOC’s gas consumption by 156 MMcf/d, saving a total of $1 billion by 2020.
Shell selected as supplier of Rolls-Royce genuine engine oil
DUBAI, UAE -- Shell announced that it has been chosen by Rolls-Royce Motor Cars Ltd as the exclusive manufacturer and supplier of Rolls-Royce Motor Cars Genuine Engine Oil. From October 2016, this oil has started to become available to Rolls-Royce Motor Cars Dealers around the world.
India's 2016 Iran oil imports hit record high
NEW DELHI (Reuters) -- India's annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran, according to ship tracking data and a report compiled by Thomson Reuters Oil Research and Forecasts.
- Valero Energy Q4 profit beats estimates; shares surge 1/30
- Dow launches "Transform to Outperform" to raise the competitive industry benchmark for productivity and growth to enable improved returns 1/30
- Russian oil refineries' peak maintenance expected in January and September 1/30
- U.S. lifts some Venezuela sanctions to ease oil sales 1/30
- Keppel, Aster plan sustainable aviation fuel project in Singapore 1/30
- Boeing, Israel's Technion to develop sustainable aviation fuel, as sector grapples with 2050 goal 1/30
