China's Yulong Petrochemical has signed memorandum of understanding agreements with bp and Chevron to supply its 400,000-bpd greenfield refinery in northern China.
China's CNPC has completed a months-long reshuffle with the addition of six regional offices that report to Beijing headquarters to better coordinate and supervise its sprawling global portfolio.
U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season.
ExxonMobil is planning to start the new crude distillation unit (CDU) at its 369,024-bpd Beaumont, Texas (U.S.), refinery this weekend.
U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season.
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.