Page 2 - Oil Refineries

India asks refiners to diversify, cut reliance on Middle East oil

Most of the OPEC+ producers, led by world's top exporter Saudi Arabia, last week decided to extend most output curbs into April

IndianOil Corp set to invest Rs 32,946 crore in Panipat refinery

The Panipat Refinery is IOC's seventh, and technically the most advanced public sector refinery complex of India

Outgoing Trump admin mulls industry-wide biofuel waiver for oil refiners

The proposal for a general waiver could open the door to a contentious debate between the oil and biofuel industries just as Trump leaves the White House

BP gives Caribbean refinery more time to hit operating targets: Report

BP Plc has given the operator of a Caribbean refinery more time to fully restart and retain its crude oil supply agreement after the plant failed to hit operating targets last year, sources said

Traders accelerate oil sales from floating storage to meet Asia demand

Traders have accelerated crude oil sales from floating storage in December to meet higher demand in Asia as the region's refineries throttled up for peak winter consumption, trade sources said

Throughput at IOC refineries rises to 100% in Nov on growing demand

Demand for petrol is now higher than last year, while demand for diesel continues to lag behind

China all set to eclipse US as world's biggest oil refiner by 2021: IEA

The Covid crisis has hastened a seismic shift in the global refining industry as demand for plastics and fuels grows in China and the rest of Asia

BPCL to cut dependence on Middle East LPG, seek bids from global suppliers

The latest tender is aimed at getting better prices for supplies compared with those from the Middle East and to diversify sources of LPG, according to the objectives listed in the document

Fitch expects marketing, refining volume of oil firms to fall 15% in FY21

With lockdowns pummelling fuel demand in India, Fitch Ratings expects the marketing and refining volume of oil firms to fall by over 15 per cent this fiscal year before a gradual recovery in FY22

India mulls doubling oil refining capacity to 450-500 mt by 2030: Pradhan

India plans to almost double its oil refining capacity to 450-500 million tonnes in the next 10 years to meet the rising domestic fuel demand as well as cater to export market, Oil Minister Dharmendra Pradhan said on Tuesday. Speaking at a webinar on 'Atmanirbhar Bharat: Fostering Domestic Steel Usage in Oil & Gas Sector', he said construction of a new 60 million tonnes a year west coast refinery, which is crucial to the capacity doubling plan, will start soon. "Our refining capacity will increase from about 250 million tonnes per annum now to 450-500 million tonnes in next 10 years," he said. The capacity addition will be both brownfield (expansion of existing units) and greenfield (new refineries), he said. The refining capacity of 249.9 million tonnes exceeded the fuel demand of 213.7 million tonnes in 2019-20, but the demand is likely to rise to 335 million tonnes by 2030 and 472 million tonnes by 2040. International Energy Agency (IEA) forecast that India's fuel demand will .

Brent is likely to find support in June in the range of $35-40/barrel

The speed at which the oil market rebounded to $40 per barrel has certainly grabbed attention, but it needs to walk before it can run

Coronavirus pandemic creates repair headache for oil and gas industry

Lockdowns to stop the spread of Covid-19, the flu-like infection caused by the virus, have snarled the supply of spare parts and have prevented maintenance workers from doing their job

Refiners stare at Rs 25,000 cr inventory loss as oil prices slump: Crisil

Crude prices nosedived from an average $55 per barrel in February to $33 in March and around $20 at the end of March as demand slumped because of the COVID-19 pandemic

Politics has an unlikely victim: A plan that could end India's fuel worries

The Maharashtra government has decided to relocate the proposed $44 billion oil refinery project to be built with investments from Saudi Arabia

CPCL plans Rs 27,460-cr refinery to cater to south India's BS-VI vehicles

CPCL's new refinery complex will come up with the latest technology and will include a polypropylene unit to maximise value addition

Despite huge expense, advanced refineries at par with basic in earnings

As with almost every change in the oil market these days, the US shale boom had a role to play

Govt told refiners to cut oil import from Iran after pressure from US

The Trump administration is piling pressure on India, China, and other buyers to end all imports of Iranian oil by a November 4 deadline

IOC, BPCL, HPCL sign agreement to set up $30 bn refinery

Entire refinery will include 3 crude units of 20 mt each, first of these will be part of phase-1

State oil refiners reap benefits of unrevised retail prices

Higher margin on petrol and diesel, with rupee rising and global crude price being steady