Economics
Brazil's Petrobras to cut diesel, gasoline prices as oil falls
State-controlled Petróleo Brasileiro SA said it plans to cut diesel and gasoline prices at the refinery point, following a decline in oil prices.
China company signs MOU with BP to supply crude to Isla refinery
Commodity trader Guangdong Zhenrong Energy Co. has signed a memorandum of understanding (MOU) with BP for commercial cooperation on an oil refinery in the Caribbean.
Kuwait Petroleum to invest in Oman Oil’s Duqm refinery
Oman Oil Company and Kuwait Petroleum Corp. have signed a memorandum of understanding (MOU) to cooperate in the development of Duqm Refinery and Petrochemical Complex in the Duqm Special Economic Zone in Oman’s Al Wusta Governorate.
Italy's Saras says it will clear Iranian oil debt in 2017
Italian oil refiner Saras has paid $177 MM of the debt it owes Iran for crude oil bought before sanctions were imposed and its chief financial officer said the total debt to Tehran will be cleared next year.
Thailand's Bangchak reviewing refinery upgrade plan
Bangchak Petroleum Pcl. is reviewing its previously announced plan to upgrade and raise its refinery capacity to 140 Mbpd from 120 Mbpd.
Technip awarded contract for modernization of SOCAR Azerikimya petrochemical complex
SOCAR has awarded Technip a contract for engineering, procurement and construction (EPC) services for the SOCAR Azerikimya plant, located in the city of Sumgait, Azerbaijan.
China sets export tax rebate for refined fuel at 17%
China has raised the export tax rebate for gasoline, diesel and jet fuel to 17%, effective from November 1, 2016.
MOL to focus on refining efficiency, petrochemical diversification
The MOL Group will continue to focus on improving the efficiency of its refining business and expand its petrochemicals business to take advantage of growing demand.
Woodfibre LNG receives project funding
Pacific Oil & Gas Ltd. has authorized the funds necessary for the Woodfibre LNG Project to proceed.
Four years after rescue, Philadelphia refinery reels as investors profit
Four years after private equity firm Carlyle Group and a partner purchased Philadelphia Energy Solutions, the refinery faces another existential crisis.
- Indonesia allocates 15.65 MM kiloliters of biodiesel for 2026 12/23
- Egypt, Qatar's Al Mana Holding sign $200-MM SAF deal 12/23
- China's teapots boost Russian ESPO buying amid record discounts 12/23
- Bahrain's BAPCO sends first diesel cargo to Australia in 2.5 yrs 12/23
- Asia oil floating storage seen declining on lower exports, China buying 12/23
- Gazprom in talks with Hungary's MOL over NIS stake sale 12/23
