China National Offshore Oil Corporation (CNOOC) and Shell Nanhai B.V. (Shell) today announce the final investment decision to expand CNOOC and Shell Petrochemical Company’s (CSPC) existing 50:50 joint venture (JV) in Huizhou, ...
Tags: CNOOC, Shell, final investment decision, expasion
Saudi Arabian Oil Company ("Saudi Aramco") through its wholly owned Saudi Refining Inc. ("SRI") subsidiary and Royal Dutch Shell plc ("Shell"), through its U.S. downstream affiliate, announce today they have signed a non-binding Letter of ...
Tags: Saudi Aramco, SRI, Motiva
China's crude oil output fell 9.9 percent year on year in August, the biggest monthly drop since 2003 as refineries slashed production amid sluggish global oil prices, data from the National Bureau of Statistics showed Monday. Imports, on ...
Tags: crude oil, oil prices
China's independent refiners nearly doubled their gasoil and gasoline production in January and output is expected to remain at high levels going forward as they maintain strong run rates, set up reformers, and continue to process light ...
Tags: independent refiners, gasoline
China's apparent oil demand in 2015 grew 5.8% year on year to 11.11 million b/d, the fastest pace since 2011, despite the country's economy growing at the slowest rate since 1990, Platts calculations based on recently released official data ...
Tags: oil demand, fuel oil
China's Ministry of Commerce plans to grant crude import licenses to four independent teapot refineries in eastern Shandong province, namely Huifeng Petrochemical, Chambroad Petrochemical, Tianhong Petrochemical and Luqing Petrochemical, ...
Tags: crude import, teapot refineries
With oil product stocks at moderate levels, Shandong's teapot refineries have kept refinery run rates relatively high, which is supporting demand for feedstock crudes, sources said this week. Regular importer Beifang Asphalt Fuel in ...
Tags: oil product, bitumen
China has more than doubled its first round oil product export quotas to 20.93 million mt from a year ago to 27 refineries in 2016, industry sources told Platts Tuesday. It contrasted to the 9.75 million mt released for the same period ...
Tags: oil product, gasoline
Four more Chinese independent teapot refineries, with a total capacity of 15.6 million mt/year, have joined others in applying to the National Development and Reform Commission to process around 14.47 million mt/year of imported crudes, the ...
Tags: teapot refineries, teapot
The Chinese government Tuesday refrained from adjusting retail oil product prices in line with global crude oil fluctuations for the first time in nearly three years, sending a strong signal to the market that it believes prices may have ...
Tags: oil product, crude oil
Chinese Premier Li Keqiang (R) holds a welcoming ceremony for Russian counterpart Dmitry Medvedev for the 20th China-Russia Prime Ministers' Regular Meeting in Beijing on Dec. 17, 2015. [Photo: gov.cn] China and Russia signed more than 30 ...
Tags: energy, investment, finance, bilateral cooperation
The Asian gasoil market saw a sharp reversal in fortunes this month as higher exports from India and North Asia and weakness in Europe, despite the cold season, clamped shut arbitrage outflows from Asia, resulting in a buildup in supply ...
Tags: Gasoil, sulfur gasoil
France's oil giant Total and international trading firms Trafigura and Vitol were among 21 companies handed crude oil term lifting contracts for 2016 by state oil firm Nigerian National Petroleum Corp, NNPC said Thursday. "NNPC issued ...
Tags: Crude Oil, oil trading
The cash price for CARBOB gasoline in Los Angeles, California, climbed 14 cents/gal Wednesday, supported by nearly 1 million b/d of refinery capacity affected by unplanned maintenance issues. Los Angeles CARBOB was assessed at NYMEX ...
Tags: CARBOB gasoline, Unleaded gasoline
A weak crude complex which has seen futures values drop to multi-year lows is only adding to an already depressed Amsterdam-Rotterdam-Antwerp spot propane market, where demand has failed to benefit from any increase in end-user heating ...
Tags: Weak Crude, temperatures, propane