Middle East
U.S. to impose further sanctions on Russian oil fleet and traders
The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.
SOCAR's STAR oil refinery to supply jet fuel for Istanbul Airport
Azerbaijan SOCAR's STAR oil refinery will supply 700,000 metric tpy (about 15,000 bpd) of jet fuel to Istanbul Airport for three years starting from 2025.
China's Shandong Port, entry point for most sanctioned oil, bans U.S.-designated vessels
Shandong Port Group has banned U.S.-sanctioned tankers from calling into its ports in the eastern Chinese province, home to many independent refiners that are the biggest importers of oil from countries under U.S. embargo.
Iraqi cabinet approves $4.6-B Basrah-Haditha oil pipeline project
The Iraqi cabinet has given approval for a Basrah-Haditha oil pipeline project, a statement from the Prime Minister's office said on Monday.
Update: India's BPCL buys Middle East grades to replace Russian shortfall
State-run Indian refiner Bharat Petroleum Corp. (BPCL) is buying Middle Eastern crude to make up for less supply of cheaper Russian oil, its head of finance Vetsa Ramakrishna Gupta said in a recent interview.
Indian state refiners may buy Middle East spot oil to replace Russian shortfall
Indian state refiners are considering tapping the Middle East crude market as spot supply from their top supplier Russia have fallen, in a move that could support prices for high-sulfur oil.
Saudi Arabia was top buyer of Russian fuel oil and VGO in November
Saudi Arabia was the top destination for Russian sea-borne fuel oil and vacuum gasoil (VGO) exports in November, according to traders and LSEG data.
Emirates Biotech selects Sulzer Technology to build polylactic acid production facility
Sulzer’s technology has been selected by Emirates Biotech for its upcoming polylactic acid (PLA) production plant in the United Arab Emirates. The facility will be constructed in two phases, each with an annual capacity of 80,000 tons, resulting in a total production capacity of 160,000 tpy.
Global diesel prices to rely on refinery closures for support in 2025
The global diesel market will likely find price support in 2025 from the closure of about 1% of refining capacity, traders and analysts said, offsetting current weakness and structural downward pressure as the world shifts to cleaner fuels.
Aramco, TotalEnergies and SIRC assess the development of SAF unit
Aramco, TotalEnergies and Saudi Investment Recycling Company (SIRC), the major player which collects and valorizes organic materials into sustainable products in Saudi Arabia, have signed a joint development and cost sharing agreement (JDCSA) to assess the development of a sustainable aviation fuels (SAF) production unit in the Kingdom of Saudi Arabia.
- KT-Kinetics Technology, NEXTCHEM awarded contracts for Petronas hydrogen unit 1/14
- Chinese, Indian refiners seek new supplies as US sanctions tighten grip on Russian oil 1/14
- Clariant to fight 1.4-B euro ethylene lawsuit from BASF 1/14
- Poland's Orlen plans to invest up to nearly $92 B by 2035 1/14
- Genesis Fertilizers, Stamicarbon partner to advance sustainable urea production 1/14
- Sinopec Shanghai Petrochemical to invest $2.9 B to upgrade Chinese operations 1/14
