Refining

Chinese oil companies processed a record volume of crude in June, offering further signs that Asia’s largest economy may surpass the U.S. to become the world’s biggest refining nation this year. Volumes hit 14.86 million barrels per day last month, up 3.8% from May, according to Bloomberg calculations based on …

Oil prices are set to remain on a bullish course this year given the strong recovery in global demand following the COVID-19 pandemic-induced slump, the head of the Petroleum Association of Japan (PAJ) said on Wednesday. “Global crude demand is expected to further recover in the second half of this …

Saudi Arabia will supply all the crude oil that was requested by India’s state-owned refiners and at least five other Asian customers next month as the linchpin producer starts to ramp up output. The kingdom will deliver in full what most of the refiners asked for in May-loading cargoes, while …

While the past Iranian calendar year (ended on March 20) was a difficult time for Iran’s oil sector, which is the country’s major source of income, some great performance was witnessed in terms of refining and distribution of oil and oil products. A four-fold rise in the exports of oil …

China’s build-up of oil refining capacity is threatening the viability of other Asian refiners as the country is about to become the world’s largest refiner this year amid still depressed demand for fuels. Bloomberg reports that the refining capacity of the country has increased threefold over the last 20 years …

Indonesia’s Pertamina said March 29 that an incident has caused a fire at its Balongan refinery in the province of West Java, but the national oil company said its fuel supply was not affected. The fire occurred at Balongan refinery’s T-301G tank and the incident occurred at 12.45 am local …

As the shift in oil demand from Covid-19 turned the tables of regional levels of fuel production and exports, China succeeded in overtaking the USA as the world’s biggest oil refiner in 2020. As China began to ramp up its refining capacity throughout the pandemic, the US Energy Information Administration …

To see the gulf between China’s ambitious carbon-neutral goals and the desire of its companies to maintain breakneck growth, look at Shandong’s oil refineries. The coastal province, a hub of private factories with an economy the size of Indonesia’s, issued a notice urging local industry, and especially oil and petrochemical …

President Hassan Rouhani inaugurated the Persian Gulf Bid Boland Gas Refinery, the largest in the Middle East and other important oil projects in southern Iran on Thursday. Through a video conference, the President inaugurated the projects with investment of 4,590 million dollars. Persian Gulf Bid Boland Gas Refinery is inaugurated …

In a shift away from fossil fuels, Norway is planning to deep dive for metals as part of its plan for a greener future. Having gained most of the country’s wealth from its successful oil industry, Norway is now looking to get ahead of the curve in metals by mining …