Asia/Pacific
PetroChina to phase out 19 old refining, chemical units to curb sector glut
The world's second-largest oil consumer is facing a faster-than-expected peak in fuel demand due to rapid electrification of its transportation fleet and a petrochemical sector that is plagued by excess capacity and poor margins.
BLYB successfully uses refinery ethane as a stable feedstock in the complex's ethylene cracking unit
Ship carrying Russian naphtha to India in limbo after U.S. sanctions
Following new Ukraine-related U.S. sanctions on Russia last week, Indian refiners said they were ready to sharply curtail Russian oil imports, as New Delhi already faces punishing 50% tariffs on its exports to the United States.
Russia-backed sanctioned Indian refiner boosts crude runs to 90%
Oil processing at Nayara's 400,000-bpd western India plant dropped to 70%–80% after the EU sanctioned it in July, denting its exports and leading suppliers such as Iraq and Saudi Arabia to halt crude sales to the company.
Diesel rally sparked by Western sanctions on Russia will be short-lived
A new wave of Western sanctions on Russia’s oil industry has roiled the diesel market, sending refining margins soaring, but global supplies are unlikely to be severely disrupted for long.
- Indian Oil buys first Colombian oil under Ecopetrol contract 12/31
- Ukrainian drone attack sparks fire, damages equipment at Tuapse refinery 12/31
- Chile's $2.5-B Volta green ammonia project wins environmental permit 12/31
- China begins issuing second batch of 2026 crude import quotas to refiners 12/31
- EIA: U.S. crude, fuel inventories rose in the week ended December 19 12/30
- Ghana's Tema oil refinery restarts after 9-yr shutdown 12/30
