Refining

Saudi Arabia aims to break the slow pace in the progress of Saudi projects in China and push for more investments between the two nations.

Pertamina. which owns 55 percent of both projects. was previously the sole off-taker of output by the Cilacap and Tuban refineries.

Known as the world’s largest refinery in terms of area. the Persian Gulf Star is divided into three phases. built near the old refinery of Bandar Abbas.

With Essar oil. Rosneft’s refining capacity goes up from 100 to 120 million tonnes.

Russian companies officially agreed to bring investment to Pakistan and establish a medium-sized oil refinery in district Kohat of KP province.

Shell will try to restart a crude distillation unit at the Pernis refinery in Rotterdam.

Asian companies have actively sought downstream projects in Iran'.s emerging petroleum industry after the easing of international sanctions in January of last year.

OPEC’s biggest exporter and de facto leader. Saudi Arabia. has pledged to cut its total August exports to 6.6 million bpd.

Last week. Shell announced a triple increase in net earnings attributable to shareholders for the second quarter of the year. to US$3.6 billion.

Shell shut down most of the units at the 404.000 barrel per day (bpd) Pernis oil refinery in the Netherlands following a power outage caused by a fire on the evening of July 29.