Enough refining capacity in country to meet domestic needs: Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri said there is no shortage of crude oil in the world and enough refining capacity in the country to meet the domestic requirements. Referring to geopolitical tensions in the Middle East, the minister said it was his personal assessment that things will calm down, noting that

IOC advocates integrating biodiesel processing within existing refineries

Indian Oil, India’s largest state-owned oil and gas corporation, is urging the government to allow biodiesel to be processed alongside traditional crude oil at its refineries, a shift it argues could facilitate the country’s ambitions for a 5% biodiesel blend by 2030. The development should be seen in the context of headwinds in supply of oil

BPCL to invest Rs 75,000 cr in expanding refining capacity

State-run Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 75,000 crore to expand refining and petrochemicals capacity over the next five years, company chairman G Krishnakumar told shareholders at the company’s annual general meeting.The ethylene cracker project at Bina refinery in Madhya Pradesh, conceived at a gross cost of Rs 49,000 crore, involves brownfield expansion

Indian steel giant withdraws Trinidad refinery bid

Naveen Jindal, Chairman of Jindal Steel and Power Limited had visited the southern Caribbean federation state with Tobago earlier this year, reciprocating a trip by Rowley to India seeking investment support to revive the Petrotrin Oil Refinery that the very Rowley administration had closed back in late 2018 because of abysmal unprofitability. Thousands had lost

US oil refining capacity falls for third time

Steel long pipes in crude oil factory during sunset U.S. crude oil refining capacity fell 4% to 17.53 million barrels per day (bpd) this year, a government report showed on Friday amid plant closures and conversions to biofuels. The Energy Information Administration (EIA) said the figures reflect capacity online as of Jan. 1, and the

Shipment of refined fuels to EU markets slows in May

Indian refiners’ usage of petroleum vessels to ship refined fuels such as diesel to key European markets has actually diminished in May after volumes neared two-year high levels last month. Since rising inventories in the, that is Antwerp-Rotterdam-Amsterdam area and shaky east-west diesel cost spreads undermine the case for sellers to ship big volumes of

Marathon refinery aims for 100% production capacity

Marathon Petroleum continues to operate its Martinez renewable diesel facility in the San Francisco Bay area at about half of its nameplate capacity. However, it is expected to reach 100% by the end of the year, the company said. In late January, Mannen said that the facility was running at 22,000 b/d, a bit less

Iraq reopens it’s refinery to cut imports

Iraq reopened on Friday what was once the country’s largest oil refinery, a step the government hopes will lead to an end to its dependence on fuel imports. The North Refinery in the city of Baiji, 200 kilometres (124 miles) north of Baghdad, was heavily damaged in some of the fiercest battles with the Islamic

bp commences transition with Kwinana refinery

The former Kwinana oil refinery will be the core of a multi-billion-dollar energy transition plan by BP in Australia.The British oil and gas company’s commitment to the construction of a plant to make renewable diesel and aviation fuel at the site near Fremantle, Western Australia, is due to kick off in earnest next year.BP’s former

HPCL’s Rajasthan refinery to start operations by Jan 2025

Public sector refiner and fuel retailer Hindustan Petroleum Corporation (HPCL) plans to start commercial production of fuels at the country’s newest refinery in Rajasthan’s Barmer by January 2025. The refinery-cum-petrochemicals complex, being built at a cost of nearly Rs 73,000 crore, will have a crude processing capacity of 9 million tonnes per annum (mtpa) and