Page 2 - Oil Refineries

As fuel prices spike, India plans refiners' joint deals to cut import bill

With gasoline and gasoil prices rising to a record high amid India's worst power crisis in years, the nation wants to redouble its efforts to buy wisely

Oil prices fall as US refiners shut down by damage from Hurricane Ida

Oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output

Fresh travel curbs amid Covid-19 surge mars outlook for Asian refiners

Fresh travel restrictions due to a resurgence in Covid-19 infections have dashed hopes for a recovery in Asian jet fuel demand this year and worsened the outlook for the entire refining sector

Mukesh Ambani-backed company helps refineries keep running in pandemic

Detect Technologies' has a real-time pipeline monitoring system that tracks leaks and corrosion using sensors.

Third round of discovered small field auctions begins

Production from DSF-1 Elao field in Cambay basin expected to being in a weeks

Production from blocks awarded in first round auctions expected in a week

Third round of discovered small field auctions begins

DSF-III likely to see more oil and gas discoveries, fewer new players

It is expected that the third round of DSF auctions will have 32 contract areas on offer for bids spread across 75 fields

US pipeline outage spurs refiners to book tankers to store gasoline

The tankers, booked by Marathon Petroleum, Valero Energy, Phillips 66 and PBF Energy, can hold around 350,000 tonnes of fuel

Indian oil refiners defer shutdowns as workers flee amid Covid resurgence

Bharat Petroleum and Indian Oil have deferred planned shutdowns due a shortage of contract workers.

Mukesh Ambani sends oxygen from refineries to aid India's Covid-19 fight

Ambani's Reliance Industries Ltd., which operates the world's biggest refining complex in western India, has started supplying oxygen from Jamnagar to Maharashtra at no cost

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 .