Refining
Italy’s Eni slashes 2016 investment plans after reporting heavy losses
Eni posted a net loss in the quarter of 8.46 billion euros ($9.4 bln) on Friday after booking charges on its stake in oil service company Saipem and chemical unit Versalis.
India boosts purchases of West African crude as new refinery starts up
Traders said the startup of the 300,000-bpd Paradip refinery, which started processing oil early in February, encouraged more bookings from West Africa to India.
El Nino’s end offers hope for distillate fuel markets
Global oil refiners struggling with enormous stocks of distillate fuel oil as a result of a warm winter and the slowdown in world trade should benefit as the El Nino pattern fades.
Crude prices rise to seven-week high amid strong US gasoline demand
Strong gasoline demand in the US, and an upward revision to the country's economic growth for the fourth quarter, helped boost expectations of oil consumption.
Finland to offer financial aid package for biofuels
"Finland will stop using coal in energy production and halve the use of imported oil for domestic needs during the 2020s," the Ministry of Employment and the Economy said.
Bulgaria investigates possible fixing of fuel prices
The Commission for Protection of Competition is investigating the Bulgarian units of Royal Dutch Shell, OMV, Hellenic Petrolleum, Nis Petrol, Lukoil, Rompetrol and Bulgarian Petrol.
US refiners lose control of distillate stockpiles
US refineries have operated to maximize gasoline production, but in the process created an enormous and growing oversupply of distillate.
Syrian refinery takes hit as US leads new strikes against Islamic State
Near al-Hawl, five of the strikes hit two tactical units and destroyed seven buildings and a fighting position, while near Albu Kamal, two strikes hit a gas and oil separation plant and a refinery.
China seeks urban ban on high-sulfur diesel sales
The tighter fuel standards are an attempt to tackle air pollution. Emissions from automobiles, especially from diesel-burning trucks, are one of the main contributors to the choking smog in China.
IHS CERAWeek: Global refiners expect margins to drop from 2015 levels
This year, the IEA has said it expects demand growth of 1.2 million bpd, down from last year's unusually high rate, as the global economy slows and new car purchases decline.
- Azerbaijan's State Oil Company redirects supplies of jet fuel from STAR refinery to Turkish domestic market 5/8
- Hungry to sell, UAE slips hidden oil tankers through Strait of Hormuz 5/8
- Seven markets to track if peace breaks out in the Middle East 5/8
- Asia exports of refined fuels plunge amid Hormuz closure 5/8
- Libya's Zawiya oil refinery shut due to nearby clashes 5/8
- Meghna PVC partners with Jotun to manage corrosion maintenance 5/7
