Refinery expansion contract awarded to L&T

The hydrocarbon onshore division of Larsen & Toubro’s (L&T) energy business has secured a large contract from Indian Oil Corporation Ltd. Indian Oil Corporation is implementing the Panipat refinery expansion (P-25) project to enhance refining capacity. India’s largest state-run oil marketing company is implementing the Panipat refinery expansion (P-25) project to enhance refining capacity from

IOC targets to replace fossil fuels with green hydrogen for decarbonization drive

Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonization drive. The nation’s largest oil firm is setting up green hydrogen plants at its Panipat and Mathura refineries, IOC said in its latest annual report. The

Shell upgrades oil and gas assets amid demand for refining profits

Shell said that surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion. The increased refining margin is expected to boost the division’s earnings by $800 million to $1.2 billion in the second quarter compared with the first quarter. The upgrade will

IOC to invest $9.35 mn to raise Digboi refinery capacity

State-owned Indian Oil Corporation (IOC) will invest over $9.35 mn (Rs 740 crore) to raise the capacity of the nation’s oldest oil refinery at Digboi in Assam. IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities at an estimated

Oil refineries in Pakistan not ready to import Russian oil

The National Refinery Limited in Pakistan has excused from the import of Russian crude oil.   The refineries in the country showing their limitations said that the transportation cost, increase voyage time, low/no capacity to process it, payment procedure and the long-term contract with Middle Eastern suppliers are the main hurdles in the way of

MHI, ANRPC agree to introduce hydrogen in to oil refining

Mitsubishi Heavy Industry (MHI), a Japanese engineering firm, and Alexandria National Refining and Petrochemicals (ANRPC) from Egypt plan to introduce hydrogen into the oil refining process at ANRPC’s refineries to cut CO2 emissions. MHI has signed an agreement with ANRPC on the hydrogen introduction. MHI will convert the existing boiler at ANRPC’s refinery that currently

SARCO signs renewable energy projects with Christof Global Impact

Saudi Arabian Refineries Company (SARCO), and Christof Global Impact signed two non-binding memoranda of understanding (MoUs) to develop renewable energy projects. The first project is to study an investment partnership to build a refinery producing the ‘biodiesel’ biofuel carbon, which is negative fuel derived from algae through “carbon negative algae oil – sustainable fuel platform”

Private refiners from India profiting from Cheap Russian Crude

India’s private refiners are tapping cheap Russian crude and getting profits from exports. However, on the other hand, the state refiners are getting squeezed by high oil costs and government-capped domestic fuel prices. When many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and

ARDA says refining sector accounts for 3% of global energy emission

According to the African Refiners and Distributors Association (ARDA) the refining sector only accounts for 3% of the global energy sector emission. This was revealed at the second Refining and Specifications Virtual Workshop organised by the ARDA and monitored by Investors King. According to them, as the fuel combustion accounts for 80% of refinery carbon

Refineries in Europe look for alternative crude supplies

Refineries in Europe are looking for alternative crude supplies as they shun Russian imports following Moscow’s invasion of Ukraine. Poland’s PKN Orlen is ramping up crude oil deliveries from Saudi Arabia and spot North Sea crude purchases following Russia’s invasion of Ukraine. “PKN Orlen reached an agreement on increased deliveries of five additional tankers from