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Crude oil

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.

Iran to boost gasoline, diesel production as new units go online

Jalil Salari, Managing Director, National Iranian Oil Refining and Distribution Company (NIORDC), provided an update on the country's refining units going online this year, which will significantly boost domestic gasoline and diesel production.

Kuwait Petroleum renews oil supply deal to Unipec

Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.

Lukoil's Volgograd refinery hit by second drone attack this year

Russian oil giant Lukoil's Volgograd refinery was partly shut down after being hit by a drone attack on Sunday, the second such attack this year on the largest refinery in southern Russia.

Diesel profit margins decline amid lower demand, more capacity

Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.

Seasonal U.S. fuel demand hits pandemic lows, weighs on refining margins

U.S. gasoline and diesel demand are at their weakest seasonal level since the 2020 coronavirus pandemic, data from the Energy Information Administration (EIA) showed on Wednesday, pushing refiners' margins to multi-month lows.

Analysis: Shell's Singapore refinery sale and its market significance

Oil giant Shell has agreed to sell its Bukom refinery in Singapore—one of the world's largest oil refining and trading centers—to a joint venture of Indonesian chemicals firm PT Chandra Asri and global trading house Glencore, culminating a process that began last year.

bp’s Cherry Point refinery turns feedstock into renewable diesel fuel. Here’s how.

bp is boosting biofuels production to 50,000 bpd globally by 2025. Here, bp provides insight into the company's Cherry Point refinery, in Washington state (U.S.), and the facility's co-processing techniques.