Putin’s war leaves West more reliant than ever on Asian fuel
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
refining
Shell sees $1bn gain in refining on record fuel prices
Shell (LON: SHEL) said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries.
Asia imports more seaborne Russian oil than Europe, India takes lion’s share
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
Reuters Events: Downstream USA 2021
As the world’s economies fire up for revival it has become clear that downstream, and the products we produce, are critical to global recovery.
Refineries given lifeline in Australia on fuel security risk
The Australian government has stepped in to rescue the country’s two remaining refineries with a A$2 billion ($1.6 billion) package it said will safeguard fuel security.
China’s mega-refineries are throttling other Asia oil processors
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
PRC Europe: 5 years of leading downstream transformation
The Petrochemical & Refining Congress, co-hosted by Neste, celebrates its 5th Anniversary on 17-19th of May.
An interview with W. Brent Robinson ahead of the 11th Annual Chem, Petrochem & Refining Asset Reliability Conference
Prior to the 11th Annual Chem, Petrochem & Refining Asset Reliability Conference in January 2021, marcus evans group held an interview with one of their key speakers, W. Brent Robinson. Brent currently holds the position of Manager, Asset Management Reliability & Integrity at BASF.
BGS Online: Revolutionary approach in the event industry
Extraordinary times call for extraordinary solutions. In response to the travel constraints in Europe, BGS Group, the organizer of PRC Europe 2020, has announced the launch of a new virtual platform - BGS online.
Shell warns of Covid-19 impairments of up to £17.8billion
Shell has warned it will take impairments of up to £17.8billon ahead of its second quarter results due to the impact of the Covid-19 pandemic.
IOC sets out the Indian advantage
When Indian Oil Corp. (IOC) was launched it focused on the downstream and has subsequently expanded into the upstream, while also moving into petrochemicals.
Kyari pins hopes to Nigerian refining rehabilitation
Nigeria is set to make a fresh push into rehabilitating its poorly performing refineries, Nigerian National Petroleum Corp. (NNPC) head Mele Kyari said on the weekend.
Adnoc wraps up huge refinery deal with Eni, OMV
The Abu Dhabi National Oil Company (Adnoc) said today that it had completed one of the world's largest-ever refinery deals.
Iran, China to sign $3bln contract to upgrade refining capacity
Iran and China plan to sign a $3billion contract as they upgrade Iran's oil refining capacity.
Shell sells of refining company for $66.3million
Shell today confirmed it sold one of its refining companies for $66.3million.
Phillips 66 reports sharp fall in profits on lower refining margins
Phillips 66 said it has reported a sharp fall in quarterly profit due to lower refining margins.
Total profit drops 30% in second quarter
Total SA said profit fell 30 percent in the second quarter, beating analysts’ estimates as deeper cost cuts and rising production helped the French company offset the slump in crude prices and strikes at its domestic refineries.
Shell, Saudi Aramco to end 18-year US refining marriage
Royal Dutch Shell Plc and Saudi Arabian Oil Co. are ending an 18-year refining partnership as the Anglo- Dutch crude titan prepares to sell billions of dollars of assets and as Saudi Arabia’s national oil company eyes a possible initial public offering.
Rosneft obtains approval to dissolve Joint Venture
Rosneft has obtained approval to dissolve the Ruhr Oel GmbH Joint Venture from the German Federal Ministry of the Economy and Energy.
Shell sells shares in refining company in Malaysia
Shell has reached a conditional agreement with Malaysian Hengyuan International Limited (MHIL) for the sale of its shareholding in the Shell Refining Company for $66.3million.