Refining
IHS CERAWeek: Mexico to expedite new rules enabling fuel imports
President Enrique Pena Nieto is pushing forward the gradual opening of the country's retail fuel sector, with private firms able to import gasoline and diesel beginning in April.
US gasoline demand surges as cheaper prices spur record driving
Steadily declining gasoline prices and a growing number of jobs have encouraged record driving use in the US, which accounts for about 10% of gasoline demand globally.
Venezuela to leave diesel prices unchanged after historic gasoline hike
"I decided to leave diesel as it is, not to touch diesel so that there's no problems with cargo or public transport," President Nicolas Maduro said in a televised broadcast.
Asian refiners to cut back on naphtha imports
While the reduced volume has lifted spot prices, a weak gasoline market and cracker maintenance in North Asia in March are capping price gains, traders said.
Venezuela implements most significant gasoline price hike since 1989
The price hike, which translated to 1,329% for 91-octane-rated gasoline and 6,086% for 95-octane, still left fuel as one of the cheapest buys in the country.
Indian refiner Reliance to resume using Iranian oil
The Indian refining conglomerate, controlled by billionaire Mukesh Ambani, stopped Iranian oil imports in 2010 because it was worried about the threat of US sanctions.
Rising diesel demand in South Korea cuts exports, could enhance margins
Growing sales of diesel cars and increased use by the freight sector have stoked appetite for the fuel in the country, while subsidies to encourage diesel taxis may provide a further boost this year.
Venezuela to raise fuel prices amid economic crisis
The first fuel price hike in nearly 20 years will boost the cost of gasoline by at least 1,329%. But fuel is still so heavily subsidized that filling a small car will still not cost more than half the price of a soft drink.
US oil, gasoline inventories hit new record highs as refiners boost output
US refinery crude runs rose 338,000 bpd, the EIA data showed, as refinery utilization rates rose by 2.2 percentage points to 88.3% of total capacity.
Small diesel cars seen as vulnerable to European emissions test reforms
Industry officials estimate that 5% of planned diesel auto models might be withdrawn or changed during a first phase of implementation, and more later.
- Valmet to acquire Severn Group to strengthen Process Performance Solutions segment 12/22
- World’s first dynamic green ammonia plant starts operations in Denmark 12/22
- Baker Hughes to supply liquefaction equipment for Commonwealth LNG export project 12/22
- South Korea petrochemical firms on track to cut up to 3.7 MM tons of output 12/22
- MOL and JERA sign HoAs for the charter of ammonia carriers 12/22
- China's November fuel oil imports up 15% from October 12/22
