Economics
Chinese court declares another Sinochem refinery bankrupt
A Chinese court has declared bankrupt a third refinery owned by state oil and chemical group Sinochem, a court document showed. The Changyi city court also ended reorganization procedures at the refinery, Shandong Changyi Petrochemical.
Global refiners face profit slump as new plants come online
Oil refiners in Asia, Europe and the U.S. are facing a drop in profitability to multi-year lows, marking a downturn for an industry that had enjoyed surging returns post-pandemic and underlining the extent of the current slowdown in global demand.
Indian refiners jointly negotiating for 2025 Russian oil supplies
Indian refiners are jointly negotiating to purchase Russian oil for next year, with suppliers mostly using Russian insurance for crude priced above a $60 per barrel (bbl) cap.
Singapore's middle distillates stocks dip for third week amid robust net exports
Singapore's middle distillates inventories fell for a third straight week, tracking the strength in gasoil/diesel net exports.
Update: Rosneft's complaint over Schwedt stake sale unlikely to succeed
Russia's Rosneft is unlikely to succeed with its complaint against Shell's planned sale of a stake in Germany's PCK Schwedt refinery, a German court said on Wednesday, citing a preliminary assessment.
Zeopore prepares for global production of economical, premium hydrocracking meso-zeolites
Zeopore is initiating discussions with candidate partners to jointly commercialize its unique zeolite mesoporization route. Combining improved hydrocracking (HDC), Zeopore’s optimized HDC zeolites bring 3 wt%-7wt% more middle distillates, depending on feedstock and process conditions.
Asia ultra-low-sulfur gasoil refining margins sink to near 3-yr low
Asia's ultra low-sulfur gasoil refining margins collapsed to the lowest in nearly three years, as excess supply and persistently soft derivative markets depressed prices.
Chinese court rules two Sinochem refineries in Shandong bankrupt
A Chinese court has ruled that two refineries owned by state oil and chemical group Sinochem were bankrupt after creditors failed to agree on restructuring plans.
Nigeria's NNPC raises petrol prices again as Dangote fuel hits market
Nigerian state oil firm NNPC Ltd. has increased the price of petrol by 11%, the second increase in two weeks and a day after it started purchasing the fuel from the giant Dangote oil refinery on the outskirts of Lagos.
Russia's idle oil refining capacity in September seen up 34% vs August
Russia's offline primary oil refining capacity in September is set to jump 34% from August due to technical outages, Ukrainian drone attacks and seasonal maintenance. Offline capacity is seen at 3.87 MMt this month, or 14.5% of Russia's total oil refining capabilities. That is up from 2.95 MMt in August.
- Valero Energy Q4 profit beats estimates; shares surge 1/30
- Dow launches "Transform to Outperform" to raise the competitive industry benchmark for productivity and growth to enable improved returns 1/30
- Russian oil refineries' peak maintenance expected in January and September 1/30
- U.S. lifts some Venezuela sanctions to ease oil sales 1/30
- Keppel, Aster plan sustainable aviation fuel project in Singapore 1/30
- Boeing, Israel's Technion to develop sustainable aviation fuel, as sector grapples with 2050 goal 1/30
