Economics
China adds 15 MMt to 2023 fuel export quotas in third batch
China has issued 15 MMt of oil products export quotas to companies in its third batch for 2023, according to three trading sources and two domestic consultancies.
Oil driven higher by tight supply expectations
Oil prices jumped by more than 1% and were on track to snap a two-week losing streak, buoyed by expectations of tightening supplies.
U.S. crude stocks to fall further, end below year-ago levels
U.S. crude oil stocks have fallen to their lowest level this year and likely will shrink further, analysts said, as record demand, producer supply cuts, weaker futures and rising storage costs all point to increasing drawdowns.
Colombia's Ecopetrol to invest up to $1.3 B in cleaner, better fuels
Colombia's majority state-owned oil company Ecopetrol will invest between $1.2 B and $1.3 B over the next seven years in cleaner and better fuels.
China's refined fuel demand in H2 2023 to rise 10% year-to-year
China's apparent refined fuel demand is expected to increase by 10% year-on-year in the second half of 2023.
Singapore's middle distillates stocks fall 7.5% on robust jet fuel outflow
Middle distillates stocks held at key storage hub Singapore slipped by 7.5% week on week as robust jet fuel outflows outweighed a surge in gasoil total imports from regional sellers.
Russia faces domestic fuel crunch, braces for more shortages
Russia, one of the world's biggest oil producers, has faced shortages of fuel crucial for gathering the harvest in some parts of its southern breadbasket and the situation may get worse in coming months.
India's Russian oil imports fall to 7-month low, Saudi jumps - trade flows
India's imports of Russian oil fell in August to a seven-month low as refiners curbed purchases due to planned maintenance outages at some plants and lower discounts for Russian grades.
Marathon preparing to restart Garyville, Louisiana, units
Marathon Petroleum is preparing a plan to begin restarting units at its 596,000-bpd Garyville, Louisiana, refinery.
Cologne Bonn Airport switches to Neste MY Renewable Diesel in its entire diesel-powered ground fleet
Cologne Bonn Airport has switched to Neste MY Renewable Diesel in its diesel-powered ground fleet.
- Transition Industries signs agreements for the Pacifico Mexinol Project, an ultra-low carbon chemical production facility 7/3
- Bangkok Airways introduces SAF on commercial flights 7/3
- EcoCeres secures SAF contract with British Airways to help reduce carbon emissions 7/3
- Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth 7/3
- MOL completes the acquisition of LBC Tank Terminals 7/3
- BHP awards charter contracts for two ammonia dual-fueled vessels 7/3
