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

China’s crude oil imports rebound as state refiners return from overhauls

China’s crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes. China brought in 41.24 million tonnes of crude oil last month, equivalent to 9.71 million barrels per day (bpd), data from

Chinese refiners shatter records in June

China’s refineries processed a record amount of crude oil last month, at 14.8 million bpd, up by 3.9% from May when run rates also broke records, Reuters reported, citing data from the national statistics bureau. The average daily run rates for the first half of the year were even higher, at 15.13 million barrels—up by

Reliance’s O2C, new energy biz may be valued over $100 bn: Report

Billionaire Mukesh Ambani-led Reliance Industries Ltd’s plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals — oil-to-chemical (O2C) business that houses

China’s June diesel exports rebound amid record refinery output

China’s June diesel exports rebounded from May and more than doubled from the same period last year, as refiners shipped out more surplus barrels amid record refinery production. Diesel shipments last month reached 2.36 million tonnes, versus 1.68 million tonnes in May and 1.04 million tonnes in June 2020, data from the General Administration of