In 2022, Chinese refiners processed less crude oil than they did in 2021, which was the first year-over-year decrease in processing according to data going back to 2000.
European Union countries are preparing to endorse a diplomatic stance on Monday calling for a global phase-out of fossil fuels as they prepare for this year's U.N. climate change talks.
China is expected to import a record amount of crude oil in 2023 due to increased demand for fuel as people travel more following the dismantling of COVID-19 controls and as a result of new refineries coming onstream.
Kazakhstan will supply 100,000 tons of oil via Russia's Druzhba pipeline to Germany in March for the PCK Schwedt refinery.
Venezuela's PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company.
Russian energy minister Nikolai Shulginov on Friday said there was no reason for a sharp reduction in the country's petroleum products output in response to a European Union embargo, Interfax reported.
Kazakhstan, the world's largest landlocked country, increased oil exports that bypassed Russia last year, but was still heavily reliant on supply channels via its neighbor.
In the hydrocarbon processing industry, where direct heating is not possible, a heat transfer medium is used. Steam has traditionally been the preferred heating medium.
One of the biggest challenges to the crude oil refining industry over the past decades is the development of technologies capable of reducing the environmental impact of crude oil derivatives, while also raising their performance.
South Korea's S-Oil said on Wednesday it sees regional refining margins in 2023 remaining elevated over pre-2022 levels, though the company posted a loss in the fourth quarter of 2022 on a fall in oil prices during the period.