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Crude oil

Singapore middle distillate stocks tumble to nearly three-month low

Singapore's middle distillates stocks slid to a nearly three-month low this week, falling below 11 MMbbl for the first time in a month as gains in jet fuel/kerosene net exports offset declines in diesel/gasoil net exports.

China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq

China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.

Higher refinery costs could increase summer gasoline prices says US EIA

Average monthly prices for regular-grade retail gasoline in the U.S. could increase by more than $0.10/gal if refinery output is lower than expected, according to an analysis published by the U.S. Energy Information Administration (EIA).

Govt.-backed Chinese refiner seeks oil import quota after restructuring

Jincheng Petrochemical, a newly restructured independent refiner controlled by the Liaoning provincial government in northeastern China, is seeking crude oil import quotas for its three plants.

Weak Asia refining margins see swing to crude from the Americas

The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.

Iran's Persian Gulf Mehr refinery scheduled for completion in early 2025

Phase 1 construction of Iran's Persian Gulf Mehr refinery is progressing, with project completion expected in early 2025.

Iran to boost gasoline, diesel production as new units go online

Jalil Salari, Managing Director, National Iranian Oil Refining and Distribution Company (NIORDC), provided an update on the country's refining units going online this year, which will significantly boost domestic gasoline and diesel production.

Kuwait Petroleum renews oil supply deal to Unipec

Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.

Lukoil's Volgograd refinery hit by second drone attack this year

Russian oil giant Lukoil's Volgograd refinery was partly shut down after being hit by a drone attack on Sunday, the second such attack this year on the largest refinery in southern Russia.

Diesel profit margins decline amid lower demand, more capacity

Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.