Government is all set to walk away with the highest level of excise duty collection from the petroleum sector this year, even as fuel consumers continue to face persistent increase in petrol and diesel prices that has […]
Singapore — China is poised to receive about 21 million barrels of the new Iraqi crude grade Basrah Medium by mid March, with most of these shipments expected to be processed by the country’s integrated refining […]
Energy News Beat Publishers Note: While basic economic fundamental rules have been thrown out over the last several years, they normally come back with overpowering consequences. Very much like a nagging tooth, or rattle in […]
At 06:30 GMT, the front-month March WTI contract on Nymex was at $59.73/bl. The contract had traded as low as $58.59/bl earlier in the day, down by 3.19pc from its settlement yesterday. WTI had settled […]
After creating havoc in the power and natural gas markets, the next commodity sector causing concern in Texas is the state’s enormous oil refining industry, where installations are being forced offline by the big freeze. […]
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will buyout Oman Oil Company’s shares in the Bina refinery project for about Rs 2,400 crore. BPCL holds a 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), […]
TULSA, Okla.–(BUSINESS WIRE)–NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today reported its third quarter fiscal 2021 results. Highlights for the quarter include: Loss from continuing operations for the third quarter of […]
ExxonMobil’s 90,000 b/d Altona refinery in Victoria is no longer economically viable and will be converted into an oil product import terminal, the company said today. The decision was made following an extensive review of […]
Moscow — BP and Russian energy giant Rosneft signed a cooperation agreement Feb. 4 to work on joint energy transition projects, including low-carbon technologies and hydrogen, the companies said in a joint press release. Both companies […]
Growing oil product oversupply and government liberalisation efforts are unlikely to lead to any sharp reduction in Chinese refining capacity in the near future, supporting the country’s crude import demand and fuel exports, participants at […]
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