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Crude oil

Phillips 66 refining margins tighten on TMX expansion startup

U.S. refiner Phillips 66 said on Tuesday its margins have tightened after the expanded Trans Mountain pipeline project in Canada started up in May.

Trans Mountain revises heavy crude standards on pipeline after quality concerns

Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line.

U.S. oil refining capacity rises for second year in a row, reaching > 18.3 MMbpd

U.S. crude oil refining capacity rose 1.5% to 18.38 MMbpd this year, a government report showed on Friday as a major new expansion in Texas boosted capacity.

China continues to lift crude oil stockpiling amid weak refinery runs

The world's biggest crude importer has had a soft start to the year. China added more than 1 MMbpd of crude oil to stockpiles in May as soft imports were outweighed by even weaker refinery processing volumes.

Global gasoline refining margins slump on slow summer driving season

Oil refiners are making less money selling their gasoline as demand during the peak summer driving season has fallen short of what they expected when many of them boosted production.

Russia's June idle oil refining capacity raised by 114%

Russia's primary offline oil refining capacity has been raised by 114% from the previous plan to 4.1 million metric tons for June mainly to due to last-month stoppages at the Tuapse and Komsomoslk plants.

Saudi crude oil exports to China to fall for 3rd straight month in July

Saudi crude oil exports to China will fall in July for a 3rd straight month to about 36 MMbbl amid plant maintenance and as some refiners opted for other sources of cheaper oil.

India eyes oil deals with nations (including Russia), plans new refinery

Indian Oil Minister Hardeep Singh Puri has announced that state-run Bharat Petroleum Corp. plans to build a new refinery and the nation is looking at signing more oil import deals with countries (including Russia) at discounted rates.

Crude quality issues on TMX pipe may hamper flows from Canada to U.S. West Coast refiners

U.S. oil refiners and West Coast traders are flagging concerns about the quality of crude shipped on the newly completed Trans Mountain pipeline expansion (TMX), warning that high vapor pressure and acidity limits could deter purchases of Canadian heavy barrels.

Red Sea ships attacks push 47% more crude oil, fuels, refined products around Africa

Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West are up 47% since attacks began on vessels using the shorter Red Sea route.