Refining

Slowing fuel demand in China and weaker growth elsewhere have prompted the biggest private refiners in India to raise their fuel sales at home as margins abroad are falling. Reliance Industries of billionaire Mukesh Ambani, as well as Nayara Energy, whose largest shareholder is Russia’s oil giant Rosneft, are increasing …

Saudi Arabia’s progress in securing investment in two oil refineries in India is being held back by a lack of consensus around crude supply, according to people familiar with the matter. The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap …

Indian state-held refiner and fuel retailer Bharat Petroleum Corporation Ltd (BPCL) is in discussions with suppliers to swap a Middle East cargo with liquefied petroleum gas (LPG) with cheaper supply from the United States, the refiner’s head of finance, Vetsa Ramakrishna Gupta, said on Friday. “We are approaching suppliers. We …

Chinese coal producers and oil refiners are struggling with weaker profits compared to other industrial earnings amid an oversupply of coal and refined products in a weak demand environment. Demand for these commodities, as well as for steel, could be further dampened in the months ahead in the U.S.-China trade …

Turkey’s top oil refiner, Tupras, has resumed purchasing Russian Urals crude oil after a brief halt earlier this year prompted by U.S. sanctions on Moscow. According to trading sources and shipping data reviewed by Reuters, the company restarted imports following a drop in Urals prices below the G7’s price cap, …

No Russian oil has been delivered via the Druzhba pipeline to the PCK refinery in Germany in more than two years because of sanctions levied against Moscow following its full-scale invasion of Ukraine. But with the plant in the town of Schwedt on the border with Poland struggling to adapt …

Independent refineries in China, often called teapots, raised their run rates in March in a positive sign for oil demand from the world’s largest importer but worry remains about the immediate outlook. The average run rate for the independents last month was 46%, Reuters reported, citing figures from Chinese energy …

Indian oil refiners have started looking for alternative supplies of crude after President Trump threatened secondary sanctions on Russian energy exports if Moscow refuses to sign a ceasefire deal for the Ukraine. Bloomberg reported that companies such as Bharat Petroleum Corp. and Hindustan Petroleum Corp. were looking for oil cargoes …

India’s state-owned refiner Bharat Petroleum Corporation Limited (BPCL) prepares to issue a tender to buy U.S. WTI crude in four consecutive months this summer, a source with knowledge of the plans told Reuters on Friday. Indian refiners are looking to boost U.S. crude imports to diversify purchases, as the availability …

State-controlled China National Offshore Oil Company (CNOOC) is set to launch a refinery and petrochemicals complex later this year, following a $2.74-billion upgrade, Reuters reported on Tuesday, quoting industry sources. The upgraded joint venture complex on the Daxie Island in Ningbo will feature a 120,000 barrels-per-day (bpd) crude unit, which …