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

Oman’s petroleum output dropped 25%

Oman’s refineries and petroleum industries’ production declined by 25% by the end of March 2022 compared to March 2021, mainly due to the transfer of the outline to the Sohar 2 Refinery since February 2022. The production of standard grade petrol (M-91) by Omani refineries increased by 27.2% at the end of March 2022 to

Indian refiners still purchasing Russian oil through private deals

India is doubling down on Russian crude oil purchases despite warnings from the US, snapping up every major grade from the OPEC+ producer as its war in Ukraine nears a third month. State-run oil refiners are now looking at privately negotiated deals instead of buying through public tenders in order to get better prices, according

EPA reverses SRE decisions taken during Trump’s regime

The US Environmental Protection Agency denied 36 requests from US small refiners seeking waivers from renewable fuel blending mandates for the 2018 compliance year, including 31 petitions that were previously granted under former president Donald Trump. The EPA said the 31 companies that previously had 2018 small refinery exemption (SRE) requests granted will not have

Refiners in Asia pin hopes on US SPR release

Asian refiners cheered US President Joe Biden’s decision to release 1 million b/d of oil from the US’ strategic petroleum reserves as the release may lead to more light sweet US crude exports to the Far East, while spot crude price differentials across the globe could fall should US refineries cut back on feedstock imports.

Amid cash crunch, refineries in Pakistan decline to increase production

Refineries in Pakistan declined the government’s call to raise output to ward off possible fuel shortages down the road as world oil markets are far from stable, citing multiple challenges including cash flow constraints. Local refineries in Pakistan after a meeting with Petroleum Division high-ups expressed their inability to increase production citing cash flow and

State-run refineries in India operate at full capacity in March

The country’s biggest state-run refiner in terms of capacity, IOC, and fellow refiner MRPL’s 300,000 b/d Mangalore refinery were operating at 100% or higher than their nameplate capacities. The two refiners have deferred some upcoming maintenance shutdowns because of current strong refining margins. BPCL’s 310,000 b/d Kochi, 240,000 b/d Mumbai and 156,000 b/d Bina refineries

US refiners import Middle East fuel oil

The United States last year imported about 700,000 barrels per day (bpd) of different types of fuel oil and other feedstocks that mostly went to U.S. Gulf Coast refineries to supplement heavy crude oil, according to market research data. Russia last year accounted for just under half of U.S. fuel oil imports, Mexico for 20%