Refining

Rosneft faces $100-MM bill to boost safety at Bashneft refineries

MOSCOW (Reuters) -- Russia's top oil producer Rosneft will have to spend up to $100 million to improve standards at ageing refineries it bought last year, industry sources have told Reuters.

Nigeria V.P.: Country must offer work to illegal refiners to reach peace

PORT HARCOURT, Nigeria (Reuters) -- Nigeria needs to offer work to people who make a living from illegally refining oil in the Niger Delta in order to achieve peace there, the African oil-producing nation's Vice President Yemi Osinbajo said on Tuesday.

China steps up Russian oil imports as teapots buy Urals crude

MOSCOW/SINGAPORE (Reuters) -- Russian crude imports to China have risen in early 2017 as the country's independent, or teapot, refiners have expanded their diet to include the Urals grade, trade sources said on Tuesday.

Saudi Aramco inks first oil contract with China's Huajin

SINGAPORE/BEIJING (Reuters) -- State oil giant Saudi Aramco has signed a contract with Chinese oil refiner North Huajin Chemical Industries Group Corp to supply crude in 2017, two sources with knowledge of the matter said on Monday.

Asia, Mideast oil product tankers idle as slow trade cuts earnings

SINGAPORE (Reuters) -- Dozens of tankers used to carry refined oil products are sitting idle in Asia and the Middle East as slow trade and an oversupply of ships have cut daily earnings to as little as a fifth of last year's level, shipbrokers and traders said.

Rosneft's Volga refineries in limbo over tax reform, low oil prices

MOSCOW (Reuters) -- Some of the domestic refineries of Russia's largest oil producer Rosneft have been hit hard by tax reforms and weaker oil prices, putting a strain on profits, sources and analysts told Reuters on Friday.

Gasoline sails away from American drivers as East Coast stocks swell

LONDON/NEW YORK (Reuters) -- Traders are preparing to export cargoes of coveted gasoline from the US East Coast after months of heavy importing and local production swamped the region.

China's Jan crude imports rise to third-highest on record

(Reuters) -- China's crude imports in January rose 27.5% from a year earlier to the third-highest volume ever, suggesting robust demand to fill storage and to make up the shortfall as domestic production continues to fall.

Russia to boost Urals exports in first half despite cutting oil output with OPEC

MOSCOW (Reuters) -- Russia is set to post higher exports of Urals crude for the first half of this year despite cutting oil production ahead of schedule under a deal with OPEC aimed at boosting prices.

Venezuela falls behind on oil-for-loan deals with China, Russia

HOUSTON/CARACAS (Reuters) -- Venezuela's state-run oil company, PDVSA, has fallen months behind on shipments of crude and fuel under oil-for-loan deals with China and Russia, according to internal company documents reviewed by Reuters.