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Crude oil

China biofuel makers bet on sustainable aviation fuel

Biofuel firms are pouring more than $1 B into building China's first plants to turn waste cooking oil into aviation fuel for export and meet domestic demand, once Beijing mandates the fuel's use on airplanes to cut emissions.

China's refinery output falls for first time in 20 mos due to maintenance

China's refinery output fell 3.3% in April from a year earlier, the first annual decline in 20 mos, as large refiners carried out regular maintenance and small independent plants curbed production due to thin profit margins.

Oil prices rise after positive U.S. economic data

Oil futures rose on Thursday bolstered by slower than expected inflation and a stabilizing U.S. job market, providing positive signs for future rate cuts and demand.

Nigeria's Dangote refinery tenders for steady supply of U.S. crude oil

Nigeria's Dangote refinery is in the market for 2 MMbbl of West Texas Intermediate (WTI) Midlands crude every month for a year starting in July.

Singapore middle distillate stocks tumble to nearly three-month low

Singapore's middle distillates stocks slid to a nearly three-month low this week, falling below 11 MMbbl for the first time in a month as gains in jet fuel/kerosene net exports offset declines in diesel/gasoil net exports.

China's CNCEC to build 300,000-bpd Al-Faw refinery in Iraq

China's National Chemical Engineering Company (CNCEC) has inked a deal with the Southern Refineries Company to build a 300,000-bpd refinery in Al-Faw, Iraq.

Higher refinery costs could increase summer gasoline prices says US EIA

Average monthly prices for regular-grade retail gasoline in the U.S. could increase by more than $0.10/gal if refinery output is lower than expected, according to an analysis published by the U.S. Energy Information Administration (EIA).

Govt.-backed Chinese refiner seeks oil import quota after restructuring

Jincheng Petrochemical, a newly restructured independent refiner controlled by the Liaoning provincial government in northeastern China, is seeking crude oil import quotas for its three plants.

Weak Asia refining margins see swing to crude from the Americas

The profit from turning a barrel of crude oil into fuels in Asia is at the lowest in seven months, which is leading refiners to turn away from expensive Middle East grades and seek cheaper alternatives from the Americas.

Iran's Persian Gulf Mehr refinery scheduled for completion in early 2025

Phase 1 construction of Iran's Persian Gulf Mehr refinery is progressing, with project completion expected in early 2025.