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Refining

Meridian Energy signs MoU for the purchase, distribution of refinery products

BELFIELD, North Dakota – Meridian Energy Group, Inc., the leading developer of innovative solutions for a cleaner, environmentally-compliant oil refinery, announced today that it has recently entered into Memoranda of Understanding with local and regional petroleum product distribution firms, under which these firms will purchase and distribute up to 268 million gallons per year of refined products from the Davis Refinery, Meridian’s greenfield refinery proposed for Billings County, near Belfield, ND.

Full start of India Reliance petchem plant will halt heavy naphtha exports

SINGAPORE/NEW DELHI (Reuters) -- India's Reliance Industries, owner of the world's biggest refining complex, will halt heavy naphtha exports in 2017/18 after the full-scale start-up of its 2.2 MMtpy paraxylene plant by end-March, four people with knowledge of the matter said.

South Korea's LPG demand revives with switch to petrochemicals

SEOUL/SINGAPORE (Reuters) -- A shift in the use of liquefied petroleum gas (LPG) to petrochemicals and away from transport has pushed demand for the fuel to new records in South Korea, after years of slumping consumption, a change which mostly benefits US suppliers.

S.Korea's SK Energy buys Russian Urals crude for first time in 10 years

SEOUL (Reuters) -- SK Energy has bought Russian Urals crude for the first time in 10 years, a spokeswoman for the parent company of South Korea's top refiner said on Friday.

Europe's refiners cash in despite OPEC oil cuts

LONDON (Reuters) -- A global deal to cut oil production has had the unintended consequence of aiding Europe's older refineries by bolstering supplies of light crude while curbing shipments of the heavier grades favored by more advanced plants in other continents.

Saudi Aramco launches base oils business as part of downstream integration strategy

DHAHRAN -- Saudi Aramco has announced its intention to enter the base oils business. The Company made the announcement as part of its effort to optimize the value of its petroleum molecules and grow its refining and chemicals portfolio.

ExxonMobil Singapore refinery to expand Group II base stock production

LONDON -- ExxonMobil announced the expansion of its Singapore refinery to support the production of the company’s EHC Group II base stocks, which will strengthen the global supply of these products and enhance the Singapore facility’s competitiveness. Construction is expected to begin during the second quarter of 2017 with completion anticipated in 2019.

EIA: US crude and gasoline stockpiles hit record highs

(Reuters) -- US crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the Energy Information Administration said on Wednesday.

DuPont, Lundberg to offer pollution control systems for refineries, petchem plants

PARSIPPANY, N.J. – Belco Technologies Corporation, a DuPont company, and Lundberg, LLC, a Dustex company, have signed an agreement to collaborate on the supply of air pollution control systems on an exclusive basis around the world. The partnership applies to air pollution control systems for refining and petrochemical plants, as well as to coke calciners associated with refining and petrochemical plants, and is valid for 10 years.

Paz Oil CEO questioned by Israeli police over bribery allegations

JERUSALEM (Reuters) -- The chief executive of Paz Oil, Israel's largest distributor of refined oil products, has been questioned by police over allegations he bribed public officials, the company said on Wednesday.