Crude oil

Refiner Phillips 66 to boost investor returns by up to $12 B

Refiner Phillips 66 said it plans to return up to $12 B more to shareholders by end-2024 through dividends and stock buybacks, sending its shares up as much as 3%.

Indian petrochemical demand could rise threefold by 2040

India's annual petrochemical consumption could nearly triple to 80 MMt by 2040 forcing the country to either raise imports or invest into building new facilities, said an executive at the nation's top refiner Indian Oil Corp.

Citgo Petroleum reports $477 MM third quarter profit

Results for the Venezuelan-owned company and other U.S. refiners have touch records this year as prices for motor fuels climbed sharply on the U.S. economic recovery and on global shortages caused by Russia's invasion of Ukraine.

Vietnam's largest refinery to import 2.52 MMt of crude oil in Q4

Vietnam's largest refinery will import 2.52 MMt of crude oil in the fourth quarter to boost operations, state oil firm PetroVietnam said, as authorities try to avert a fuel supply crunch.

Saudi Aramco to ship full oil contract volumes to Asia in December

Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December.

Italy's plans to secure financing for Lukoil refinery face obstacles, sources say

Italy's efforts to secure financing to keep an Italian oil refinery owned by Lukoil up and running despite new sanctions on Russia kicking in next month have hit obstacles.

Exxon says it is dealing with 'operational matter' at Britain's Fawley refinery

Exxon Mobil said it was dealing with an "operational matter" at its Fawley oil refinery in Britain.

Kuwait's KIPIC says first phase of Al-Zour refinery starts commercial operations

The commercial launch comes after the project started last month to produce and sell primary quantities of fuel oil and supply it to local power stations.

U.S. oil refiners to keep running at breakneck speeds in fourth quarter

U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters.

UK sanctions four Russian steel and petrochemical tycoons

Britain has sanctioned four Russian steel and petrochemical business owners, including the former head of steel producer Evraz, the government said on Wednesday, its latest measures taken against Moscow over the war in Ukraine.