US Refiners Cash in on Fat Margins as Fuel Demand Surges

US refineries are enjoying the highest profit margins to turn crude oil into gasoline in four years for this time of the year, as demand for the fuel jumps. The Nymex gasoline crack, a rough gauge of the margin refiners can capture with a barrel of crude based on futures prices in New York, was

India Plans Refiners’ Joint Oil Deals to Cut Import Bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third-largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it

Industry organization Marine Fuel Alliance appoints new Executive Officer

Bunker industry organization the Marine Fuels Alliance (MFA) on Wednesday (27 October) said it has appointed Anthony Mollet as Executive Officer. Mollet brings a wealth of bunker industry experience to the newly created role, having held senior positions with some of the sector’s leading companies, including Shell Trading and GAC Shipping. Most recently, Mollet held

China caps refinery capacity under peak emissions plan

China will cap primary crude processing capacity at 20mn b/d by 2025, the government said in a new action plan to achieve peak emissions by 2030. The plan, published by the state council today, gives a more detailed sector-by-sector breakdown following the release of an economy-wide plan for peak emissions and carbon neutrality on 24

Asia refiners to get full Saudi crude supplies in October

Saudi Aramco has notified at least seven buyers across Asia that it would supply full contractual volumes of crude oil in October, though none of them asked for additional supplies despite deep price cuts, sources with knowledge of the matter said on Monday. The full allocation comes as the Organization of the Petroleum Exporting Countries

Rolls-Royce and Flanders Electric to develop a hybrid retrofit solution for mining trucks

Rolls-Royce and Flanders Electric have agreed to develop a retrofit concept for hybridizing mining trucks that can reduce CO2 emissions by up to 30%. It integrates MTU engines, batteries, and hybrid control systems, and Flanders drive train solutions. The two companies have signed a Memorandum of Understanding enabling them to offer a scalable retrofit kit

Maersk invests in Vertoro to develop green lignin marine fuels

Maersk’s investment will be used to further develop and commercialize Vertoro’s patented liquid lignin technology, and it will enable Vertoro to build a demo plant, which will become operational in 2022. The output of this plant will be used to develop marine fuels in partnership with Maersk as well as other applications for the materials

Lubricants behind local refineries profitability

Local refineries recorded a profitable second quarter backed by strong sales of lubricants. According to the industry, the four major refineries here recorded 761.8 billion won ($651.8 million) in operating profits in the lubricating oil sector. S-Oil topped the list with 284 billion won followed by SK Innovation with 226.5 billion won, GS Caltex, 159.2

BHP confirms talks with Woodside to sell its petroleum business

BHP Group Ltd. said it is considering the sale of its petroleum business, a move that would reduce its exposure to fossil fuels amid growing pressure from investors and governments for resources companies to cut emissions. BHP, the world’s biggest mining company, said it is in talks with Woodside Petroleum Ltd. on a potential deal

Sri Lanka’s Colombo, Hambantota ports achieve more bunkering feats with latest foray

Colombo Port’s first supply of delivered high sulfur fuel oil bunker in the week started Aug. 8 marked another milestone for Sri Lanka, as the country sets out to boost its bunkering prospects while also developing other ports like Hambantota as a dominant marine fuels hub in Asia. Register Now Advantis Bunkering, a subsidiary of