Refining

Rosneft says ready to discuss Citgo collateral swap

VERONA, Italy (Reuters) — Russian oil major Rosneft will consider proposals to replace a stake in US-based refiner Citgo it holds as collateral for a 2016 loan to Venezuela with another asset, CEO Igor Sechin said on Thursday.

Poland's PKN says expects higher downstream margins in 2017

WARSAW (Reuters) — Poland’s biggest oil refiner PKN Orlen expects its downstream margin to rise this year from $11.70/bbl in 2016, the company’s official said on Thursday.

Venezuela's deteriorating oil quality riles major refiners

CARACAS/HOUSTON (Reuters) — Venezuela's state-run oil firm, PDVSA, is increasingly delivering poor quality crude oil to major refiners in the United States, India and China, causing repeated complaints, canceled orders and demands for discounts, according to internal PDVSA documents and interviews with a dozen oil executives, workers, traders and inspectors.

China refineries run at record Sept pace

BEIJING (Reuters) — China's oil refineries increased their run rates by 12.7% to a record for September, data showed on Thursday, after a major new state-run refinery launched operations and independent plants came back on stream after maintenance.

MOL signs agreement with thyssenkrup for polyol project

BUDAPEST — Following the announcement made in July about entering into contracts with Evonik and thyssenkrupp to produce propylene oxide, MOL Group has reached the next milestone in its key strategic investment.

Total, Saudi Aramco discussing JV refinery expansion

LONDON (Reuters) — Total is in talks with Saudi Aramco to expand their Saudi joint venture refinery by more than 10%, the chief executive of the French energy company said on Wednesday.

S.Korea plan to ease oil-blending rules to take effect from Thurs

SEOUL (Reuters) — South Korea said on Wednesday that its plan to ease blending restrictions at oil storage terminals would come into effect on Thursday, as the government continues its push to boost international oil trading in the country.

Bangladesh set to sign 15-yr gasoil import deal with India

DHAKA (Reuters) — Bangladesh Petroleum Corp (BPC) is set to sign a 15-yr deal with Indian oil refiner Bharat Petroleum Corp Ltd (BPCL) to import gasoil to meet the country's energy demand, two company officials with the direct knowledge of the matter said.

ExxonMobil begins production on new polyethylene line at Mont Belvieu plastics plant

HOUSTON — ExxonMobil Chemical Company announced that it has commenced production on the first of two new 650,000 tpy high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas.

Newest outpost for US crude exports: India

NEW YORK/NEW DELHI (Reuters) — India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up "test" purchases of US grades to diversify their imports.