China’s largest oil refining company, China Petroleum & Chemical Corp., aka Sinopec, processed 126.69 million metric tons of crude oil or 5.08 million barrels per day (bpd) in the first six months of the current year, good for a mere 0.1% Y/Y increase, the company has reported. That compared with …
Read More »Africa’s Largest Oil Refiner Set for Public Listing
Nigeria’s Dangote Group plans to list its company Dangote Petroleum Refinery & Petrochemicals, which runs Africa’s largest refinery, on the Nigerian stock exchange in early 2025, the group’s president Aliko Dangote said this weekend. The group also plans to list another multi-billion-dollar subsidiary, Dangote Fertiliser Limited, on the domestic stock …
Read More »Russian Oil Refinery Woes Drive Decline in Q1 Exports
Russian oil refineries experienced decreased production, contributing to the country’s ongoing export decline in the first quarter of this year, Russia’s central bank said on Thursday. According to a report released by the bank, goods exports dwindled from $105.1 billion to $97.9 billion compared to the same period last year. …
Read More »Russia is Bringing back Refining Capacity Hit by Ukrainian Drones
Russia has brought back online some oil refining units in recent weeks, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of March, calculations by Reuters showed on Monday. The refining capacity in Russia that is currently offline due to drone attacks …
Read More »Russia’s Offline Oil Refining Capacity Reaches 14%
The amount of Russian oil refining capacity that has been taken offline due to Ukrainian drone strikes is 14% of Russia’s total refining capacity, according to Reuters calculations. Calculations show that 900,000 barrels per day of refining capacity has been taken offline by drone strikes, Reuters said on Tuesday. This …
Read More »U.S. has Urged Ukraine to Stop Attacks on Russian Refineries
The United States has repeatedly urged Ukraine to halt its drone attacks on Russian oil refineries due to Washington’s assessment that the strikes could led to Russian retaliation and push up global oil prices, the Financial Times reported on Friday, citing sources familiar with the exchange. The White House has …
Read More »Iraq Reopens Refinery after a Decade-Long Shutdown
Iraq reopened on Friday its rehabilitated North Oil Refinery in Baiji, which had been inactive for more than 10 years and which brings OPEC’s second-largest crude producer closer to being self-sufficient in oil products, the Prime Minister Media Office said in a statement. The Baiji refinery was damaged by insurgent …
Read More »Eni to Build Third Biorefinery in Italy
Eni SPA said it is awaiting government clearance to begin construction of its third biofuel production plant in Italy, proposed to rise in the port city of Livorno. “The project, first announced in October 2022 and followed by an application for Environmental Impact Assessment in November 2022, is awaiting official …
Read More »Winter Freeze Shuts in 15% of Gulf Coast Refinery Capacity
The cold spell that began earlier this month has prompted the shut-in of 15% of refining capacity along the Gulf Coast. The data comes from Wood Mackenzie, as quoted by Bloomberg, and translates into 1.5 million bpd in throughput capacity. While the outage is not expected to last for a …
Read More »Africa’s Largest Oil Refinery Moves Closer to Start-up
The Dangote Refinery in Nigeria, Africa’s biggest, is expected to receive on Friday its first of several cargoes of crude oil that would enable it to begin initial runs, the Dangote group said in a statement seen by Reuters. The refinery, which has been commissioned but has yet to begin …
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