Refining

Shell plans to split Motiva JV with Saudi Aramco

HOUSTON (Reuters) -- Shell Oil Co, the US unit of Royal Dutch Shell Plc, said on Monday it expects to divide the refineries and other assets of the Motiva Enterprises joint venture with co-owner Saudi Aramco in the second quarter of 2017.

Hammer could fall on Europe's vulnerable refineries from 2018

ANTWERP (Reuters) -- Strong residual demand for oil products and the emergence of only a handful of new refineries will protect the profits of Europe's long struggling operations this year, but experts expect the hammer to fall on the weakest from 2018.

Trading giant Glencore extends major Libyan oil deal

LONDON (Reuters) -- Swiss-based commodities giant Glencore has extended a deal with Libya's state oil firm to be the sole marketer of one third of the country's current crude oil production, sources familiar with the matter said.

US refiners gobble up foreign crude, at least for now

NEW YORK (Reuters) -- Global oil producers pumping out crude have found particularly willing buyers lately in the United States, where refiners have reaped short-term benefits from buying foreign crude.

Lyondell, buyers differed on value of Houston refinery

HOUSTON (Reuters) -- Differing estimates between would-be buyers and LyondellBasell Industries over the value of the company's Houston refinery resulted in Lyondell's inability to sell the plant last year, Chief Executive Bob Patel said on Friday.

Petrobras undecided over outright sale of refining assets

SAO PAULO (Reuters) -- Petroleo Brasileiro SA remains undecided about the sale of some refineries, a sign Brazil's state-controlled oil company might be leaning toward forming partnerships by offering stakes in some of them, a person with direct knowledge of the matter said on Thursday.

Indonesia's Pertamina removes CEO, deputy in management shakeup

JAKARTA (Reuters) -- Indonesia's Pertamina has removed its CEO Dwi Soetjipto and Deputy CEO Ahmad Bambang, company and government officials said on Friday citing leadership problems, and new and renewable energy director Yenni Andayani has been appointed acting CEO.

SK Innovation sees refining margins staying healthy in 2017

SEOUL (Reuters) -- Refining margins will stay firm in 2017, backed by limited additions to refined product supplies and solid demand growth, SK Innovation, which owns South Korea's top refiner, said on Friday.

Phillips 66's profit misses on lower refining margins

(Reuters) -- US independent oil refiner Phillips 66 posted a lower-than-expected quarterly profit as margins were squeezed by the narrowing gap between US crude prices and globally-traded Brent crude, to which prices of refined products are tied.

Spike in maintenance expected to boost oil refining margins

ANTWERP (Reuters) -- Increased refinery maintenance in Asia and the Middle East is expected to boost profits for operators in other regions in the first half of this year, market watchers said on Wednesday.