Gasoline

Global oil refining profits surge and may stay strong

The strength in margins contrasts with crude oil markets coming under pressure from an expected oversupply, and has defied expectations earlier this year that the rally could prove to be a short-term blip due to the impact of tariffs.

Chevron joins race to explore potential purchase of Lukoil assets, including refineries

Asian gasoline margin spikes to highest since August 2023

Bulgaria wins UK sanctions reprieve on refinery, petrol stations

The UK last month announced sanctions on Russia's two biggest oil companies, Rosneft and Lukoil, and a week later the U.S. followed suit in a bid to squeeze the financing of Moscow’s war effort in Ukraine.

China's Sinochem shuts one crude unit at Quanzhou after fire

The 300,000-bpd Quanzhou refinery was due to be offline for scheduled full plant maintenance from the end of November or early December to January.

PetroChina to phase out 19 old refining, chemical units to curb sector glut

The world's second-largest oil consumer is facing a faster-than-expected peak in fuel demand due to rapid electrification of its transportation fleet and a petrochemical sector that is plagued by excess capacity and poor margins.

Mali strikes deal with Russia for petroleum products

Jama'at Nusrat al-Islam wal-Muslimin (JNIM) militants announced a blockade on fuel imports to the landlocked West African country in early September and have since attacked convoys of fuel tankers attempting to enter the country or reach the capital.

EIA: U.S. crude, fuel inventories fall on robust refining and demand

U.S. crude oil, gasoline and distillate inventories fell last week as refining activity and demand strengthened, the U.S. Energy Information Administration (EIA) said.

Dangote refinery's gasoline unit operating at 60% capacity

The outage on the unit, which began in late August, helped improve export economics from Europe to West Africa to cover the shortfall, boosting European gasoline refining margins.

API reverses course on E15 gasoline bill, calls for regulatory fixes

The American Petroleum Institute opposes legislation to expand year-round sales of E15 gasoline, a reversal that underscores deepening tensions between the oil and ethanol industries after a brief period of cooperation.