India's 2016 fuel sales growth highest in at least 16 years

NEW DELHI (Reuters) -- India's fuel demand in 2016 grew at its highest pace in at least 16 years as low oil prices for most of the year boosted demand for gasoline and aviation fuels.

Iran in talks to export 4 MM barrels of oil per month to Philippines

ANKARA (Reuters) -- National Iranian Oil Company (NIOC) is negotiating with the Philippines over exporting four million barrels of crude per month to the country, Iran's English-language Press TV quoted a statement published on Friday by the NIOC as saying.

US crude stocks fall sharply, products surge

(Reuters) -- US crude oil inventories fell sharply as higher refining runs prompted a surge in gasoline and distillate stocks in the last week of 2016, the Energy Information Administration said on Thursday.

LyondellBasell plans to retain Houston refinery after asset review

NEW YORK (Reuters) -- LyondellBasell said on Thursday that it would retain its Houston-area refinery following a review of strategic options for the business.

China's Iran oil imports to hit record on new production

BEIJING (Reuters) -- China's Iranian crude oil imports may rise to a record this year as state-owned oil firms lift more crude through their upstream investments while extending their current supply contracts, senior industry and trading sources said.

US refiners face severe labor shortage for deferred maintenance

(Reuters) -- After years of running flat out, US Gulf Coast refiners are lining up repairs to plants in 2017 -- but facing a severe labor shortage that could delay work, drive up costs and raise accident risks.

Fluor awarded refinery project in Chile

IRVING, Texas – Fluor Corporation announced that it was awarded a contract by Empresa Nacional del Petróleo for the engineering, procurement and construction of a new process unit at its Biobío refinery in Chile. Fluor booked the undisclosed contract value in the fourth quarter of 2016.

Vitol clinches $1-B pre-finance oil deal with Iran

LONDON/DUBAI (Reuters) -- The world's largest oil trader, Vitol, has clinched a deal with the National Iranian Oil Co. (NIOC) to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with the matter said.

General Atomics awarded contract at Hyundai Oilbank refinery

SAN DIEGO, CA – General Atomics Electromagnetic Systems announced that it has been awarded a contract for a six-module Gulftronic Electrostatic Separator system for installation at the Hyundai Oilbank Co. Ltd. Daesan refinery in the Republic of Korea.

Marathon Petroleum explores spin-off for retail business Speedway

(Reuters) -- Marathon Petroleum Corp announced a series of steps to increase its stock price, including the possible separation of its Speedway retail business, amid pressure from hedge fund Elliott Management.