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Crude oil

Shell records nearly $8-B Q1 profit on the back of refining, chemicals/products and LNG divisions

Shell reported a Q1 profit of $7.7 B, boosted by Red Sea trading disruptions, Russian refining outages and Shell's LNG production increases.

Sinopec's $4.5-B refinery in Sri Lanka to challenge India's fuel export market share

Sinopec aims to establish its first fully-controlled overseas refinery at Sri Lanka's Hambantota port. This move, driven by changing global strategy and slowing domestic demand, intensifies competition with India's efforts to expand its energy presence in the region.

S-Oil expects Q2 refining margins to remain steady then trend upward

South Korea's S-Oil forecast that second-quarter refining margins will be steady, supported by regular maintenance in the region, then trend upward in tandem with higher demand as the summer season gets underway.

Vitol to charter supertankers from U.S. to Nigeria's Dangote refinery

Commodities trader Vitol has agreed to charter two supertankers to deliver crude oil to Nigeria's giant Dangote refinery from the U.S. in May, according to a shipping source and fixtures data.

Refiner Valero beats profit estimates on resilient demand, tight supplies

Refiner Valero Energy beat first-quarter profit estimates, benefiting from sustained demand as supplies remained tight due to disruptions in Russia and maintenance work at U.S. refineries.

Imperial Oil gets Q1 boost from higher production; refining throughput weighs

Canada's Imperial Oil saw higher profit in its first quarter on as the integrated oil firm was helped by robust production but saw maintenance activities weighing on its throughput volumes.

Stranded cargo shows credit challenges at Nigeria's Dangote refinery

Chinese state energy major PetroChina has been waiting to unload a cargo of U.S. crude at Nigeria's giant new refinery for nearly a month due to payment issues.

BASF with solid start to the year: EBITDA before special items in first quarter of 2024 slightly above analysts’ consensus

In 2024, BASF commenced the year strongly, unveiling first-quarter figures coinciding with the Annual Shareholders’ Meeting at the Congress Center Rosengarten in Mannheim, Germany, anticipating a comparable turnout to the previous year of around 5,000 attendees.

Crude and gasoline stocks fell, distillate stocks rose last week, EIA says

Crude inventories fell by 6.4-MM barrels to 453.6 MM barrels in the week ended April 19, the EIA said, compared with analysts' expectations in a poll for a 825,000-barrel rise.

Lower oil refinery output hits value of Russia's Q1 exports

Lower production at Russian oil refineries was partly to blame for the continued decline in the country's exports in the first quarter of this year.