Indian oil refiners are snapping up cheap Russian crude

Indian refiners are loading up on Russian oil as prices of the nation’s crude plunge to unprecedented lows. Processors from the world’s fastest-growing importer bought about 6 million barrels of Urals crude from the Black Sea port of Novorossiysk in recent days, traders said. That’s the most India has purchased in at least three years,

IOC Chairman seeks budgetary support for refiners for using green hydrogen

With oil refineries expected to be the largest consumers of green hydrogen, Indian Oil Chairman Shrikant Madhav Vaidya on Monday said that a budgetary support for the refining sector will help achieve the net zero target. Speaking at the post budget interaction of the Maharashtra industry with the Union Finance Minister Nirmala Sitharaman here, Vaidya

US refiners seek alternatives to Russian oil amid tensions

Some U.S. producers of gasoline that have relied on imports of Russian oil are looking for alternative supplies amid heightened tensions in Eastern Europe. At least two major Gulf Coast refiners are seeking to diversify their purchases of fuel oil that can be used as a feedstock to produce gasoline and diesel, according to people

Kazakhstan wants more oil output to stay at home to tackle fuel problems

Kazakhstan has asked the foreign companies operating its main oilfields to supply the domestic market so it can boost its refining industry and tackle the rising fuel prices that led to violent protests in January. Energy minister Bolat Akchkulakov said Kazakhstan can’t ramp up domestic refining without supplies from the foreign-led consortia operating its Tengiz,

HPCL eyes net zero carbon emissions by 2040

Indian state refiner Hindustan Petroleum Corp is working on a plan for net zero carbon emissions by 2040, chairman M. K. Surana said on Monday. India, the world’s third-biggest greenhouse gas emitter, is aiming to reach net zero emissions by 2070. “HPCL is in the process of developing a validated roadmap with the help of

Indian refinery to produce bioethanol from bamboo

Sulzer technology is helping to convert bamboo into bioethanol in a pioneering Indian refinery. India’s national objective of achieving self-sufficiency in energy and reducing its fossil fuel footprint is being supported by Sulzer’s expertise in pump manufacturing and refinery processes. The country’s first biorefinery, Assam Bio Refinery, built by Chempolis technology, is a new joint

China’s 2021 oil refinery output rises 4.3% to record on strong demand

China’s refinery output hit a record in 2021, up 4.3% from 2020, on robust first-half fuel demand and as refiners ramped up processing to fill a supply gap after a hefty new tax closed loopholes in blending fuel imports. Total refinery throughput last year reached 703.55 million tonnes, or 14.07 million barrels per day (bpd),

Higher crude demand supports India-bound Suezmax rates

Suezmax rates from the Mideast Gulf to the west coast of India have been rising on account of higher demand from Indian state-controlled refineries. Indian state-controlled refiners continued to operate at higher capacities this month in anticipation of an increase in fuel demand in 2022. “Indian charterers have been quite active over the past few

Cummins and Sinopec ally to produce green hydrogen

Cummins Inc. and China Petrochemical Corporation, owned by the Sinopec Group, announced the formation of a 50:50 joint venture through Cummins Enze Hydrogen Technology Co., Ltd to develop green hydrogen. The joint venture will accelerate the affordability and availability of the fuel through increased technological innovation, research and development, as well as manufacturing capacity. Cummins

Pak Oil refineries shutting down production due to massive import of HSFO

The local oil refineries are shutting down their production due to massive import of High Sulphur Fuel Oil (HSFO) by the government and low demand from the power sector. Pakistan Refinery Limited has become the third one to announce its closure following Byco Petroleum Pakistan Limited (BPPL), now renamed as Cnergyico Pk Limited, and National