Crude oil
EU to seek COP28 deal on phasing out fossil fuels
European Union countries are preparing to push for a global deal on phasing out fossil fuels at the United Nations COP28 climate summit which begins in November, a draft of the EU's negotiating position showed.
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.
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.
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.
China diesel exports seen rising to over 1 MMt in September
Chinese refiners are poised to boost diesel exports in September to more than 1 MMt, drawn by lucrative margins from selling overseas and as they expect to receive more export quotas from Beijing.
PetroChina reports record interim net profit on refining surge
State-owned energy giant PetroChina reported a record-high net profit for the first half of the year, driven by increased oil and gas output and resurgent refined fuel sales.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
