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Crude oil

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.

Russia's offline primary oil refining capacity revised up for April

Russia's offline primary oil refining capacity has been revised upwards for April by 107,000 metric tons from previous expectations to 4.430 MMt.

China refiners imported record amounts of crude oil in 2023

Refiners in China imported record volumes of crude oil in 2023 to supply the country’s increasing refining capacity in order to support the country’s transportation fuel needs and produce feedstocks for its growing petrochemical industry.

China's Sinopec completes successful trial of crude to olefin technology

China's Sinopec Corp said it completed a successful trial processing crude oil directly into olefin, making the top Asian refiner one of the world's few companies that have applied the technology at an industrial scale.

Russian oil and products trapped on tankers hit by new Iran-related sanctions

Russian oil and products have become trapped at sea on four tankers after the U.S. hit the vessels with fresh Iran-related sanctions

Oil India plans to start Numaligarh refinery by Dec 2025, export refined fuels

Oil India plans to start its 180,000 bpd Numaligarh refinery in the northeastern state of Assam by December 2025, its chairman Ranjit Rath said.

Business Trends: A 2024 and beyond outlook for the GCC chemical industry

The global chemical industry faced a challenging year in 2023. Various factors contributed to sluggish demand growth for chemicals globally, including the European recession, U.S. inflation and a lower-than-expected chemical demand rebound in China. These factors resulted in global chemical market growth of < 1% in 2023, with many producers experiencing lower output.