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Diesel

U.S. renewable diesel glut hits refiners' margins

A rush by U.S. fuel makers to recalibrate their plants to produce renewable diesel has created a supply glut for low-emissions biofuels, hammering profit margins for refiners and threatening to impede a young industry.

Vertex Energy pauses renewable diesel output to switch back to fossil fuels, citing macroeconomic woes

U.S. refiner Vertex Energy will pause renewable diesel production at its refinery in Mobile, Alabama, and convert it to produce fossil fuels instead, citing macroeconomic woes which might persist through next year.

Citgo Petroleum reports Q1 profit of $410 MM

Oil refiner Citgo Petroleum reported its first quarter net fell 56% to $410 MM, from $937 MM in the same period a year ago.

Shipping major and GCMD to pilot FAME-VLSFO marine biofuel bunker fuel in Singapore

a Japanese shipping major and the Singapore-based Global Centre for Maritime Decarbonization will launch a six-month project for trialing marine biofuel for bunkering, consisting of 24% fatty acid methyl esters (FAME) and very-low-sulfur fuel oil (VLSFO) onboard a short-sea vehicle carrier that will call at multiple ports.

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.

Shell in talks to sell Malaysia fuel stations to Saudi Aramco

Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, a deal that could be worth up to $1 B.

India's fuel demand increases more than 6% y-o-y

According to the country's Petroleum Planning and Analysis Cell, India's fuel consumption rose by 6.1% year-on-year in April.

Asian refiners eye output cuts due to diesel surplus

Asian refiners are considering cuts to refined fuel output in the coming months, with some already trimming production in May, after excess diesel supplies squeezed profits.

Shell to exit South Africa's downstream businesses

Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions.

Sinopec's $4.5-B refinery in Sri Lanka to challenge India's fuel export market share

Sinopec aims to establish its first fully-controlled overseas refinery at Sri Lanka's Hambantota port. This move, driven by changing global strategy and slowing domestic demand, intensifies competition with India's efforts to expand its energy presence in the region.