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Shell Reluctant to Part with California Refinery Amid Asset Sale
(Thursday, March 23, 2017) Royal Dutch Shell is in talks with several potential buyers for its refinery outside of San Francisco, but the Anglo-Dutch oil giant is reluctant to part with its last asset in California, three people familiar with the process say.
Venezuelan Drivers Line Up for Gasoline as Fuel Shortage Worsens
(Thursday, March 23, 2017) As PDVSA's crumbling refineries fail to meet domestic demand, imports have become a financial burden because the country buys fuel abroad at market prices only to sell it for pennies per gallon at home.
Liquidation of Moroccan Refinery Samir Extended - Administrator
(Thursday, March 23, 2017) A Moroccan court has granted an extra month for the liquidation process for Samir, the country's only oil refinery, a court-appointed trustee said on Thursday.
China Feb Gasoline Exports Jump to 2nd-highest on Record, Imports Plunge
(Thursday, March 23, 2017) China's gasoline exports in February climbed to their second-highest monthly level on record as refiners increasingly turn to exports to Asian markets to drain a domestic supply glut that almost wiped out imports altogether.
China's Sinopec Buys First Major African Refinery in Chevron Deal
(Wednesday, March 22, 2017) China's Sinopec said on Wednesday it has agreed to pay almost $1 billion for a 75 percent stake in Chevron Corp's South African assets and its subsidiary in Botswana, securing its first major refinery on the continent.
Analyst Sees Possible Crest for US Gasoline Demand Growth Wave
(Wednesday, March 22, 2017) U.S. gasoline demand could fall by more than 1.7 million barrels per day by 2030, according to Wood Mackenzie analyst Andrew Shepard.
Saudi Arabia Spends Money to Make Money in Foreign Investment Drive
(Wednesday, March 22, 2017) Most of the big deals were in refining and petrochemicals, not the new industries Riyadh hopes to develop.
PDVSA Said to Replace Refining Managers as Shakeup Deepens
(Tuesday, March 21, 2017) Officials at the company's press office and energy ministry declined to comment.
Russia Hydrocracker Unit Project Goes to CB&I
(Monday, March 20, 2017) CB&I has won an approximately $460 million contract in conjunction with NefteGazIndustriya, LLC's expansion of its Afipsky Oil Refinery in Krasnodar, Russia, CB&I announced Monday.
Saudi King's Asia Tour Trumpets Aramco's Moves Downstream
(Monday, March 20, 2017) Saudi King Salman's lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hardnosed marketing mission.
Russia Could Double Gasoline Exports After Capacity Boost
(Monday, March 20, 2017) It could also worsen a fuel overhang in Europe, according to experts and Reuters calculations.
Latin America Struggles to Stem Pricey Fuel Imports
(Friday, March 17, 2017) For refiners in the United States, it is a bonus: they have in their own backyard a ready market for rising fuel exports.
Icahn Bets Against Renewables Market He Wants Trump to Overhaul
(Friday, March 17, 2017) Carl Icahn, the billionaire investor and adviser to President Donald Trump, said he's betting on a decline in the market for renewable-fuel credits that he's urging the president to overhaul.
Russia to Add More Gasoline Refining Capacity in 2017 - Reuters Data
(Friday, March 17, 2017) Following the upgrades, high-octane gasoline production in Russia will have the potential to increase by up to 4.5 million tonnes a year, the calculations showed.
BP Halves Stake in New Zealand's Only Oil Refinery
(Friday, March 17, 2017) BP Plc on Friday said it had sold around half its roughly 20-percent stake in New Zealand Refining Company Limited for NZ$80.4 million ($56.2 million) as part of a global portfolio review.
China's Sinopec Nears Deal to Buy Chevron's South African Assets -Sources
(Friday, March 17, 2017) China's Sinopec is nearing a deal to buy Chevron's South African oil assets for up to $1 billion to secure its first major refinery on the continent, several people familiar with the matter said.
Ownership of Norway's Nyhamna Gas Export Plant to Expand
(Friday, March 17, 2017) Currently processing gas from the offshore Ormen Lange field, Nyhamna will also receive gas from Statoil's Aasta Hansteen and other fields from late 2018 via the new Polarled pipeline.
Syncrude Fire Extinguished, Synthetic Prices Leap
(Thursday, March 16, 2017) The fire at Syncrude Canada's oil sands plant in northern Alberta was extinguished on Thursday morning, the company said in a statement, as parts of the mining and upgrading facility ran at reduced rates.
India's IOC Buys Its First Hibernia Crude from Canada's Suncor
(Thursday, March 16, 2017) Indian Oil Corp became India's first refiner to buy light sweet Hibernia crude from Canada's largest oil company, doing the deal after the opening of the arbitrage for Canadian oil to flow to Asia.
Calumet Retains Bank for Potential Sale of Wisconsin Refinery
(Thursday, March 16, 2017) The refinery is relatively small by the standards of U.S. plants, with the ability to process 45,000 barrels of crude oil per day.