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India Gas Pump 2 -Energy News Beat
Downstream

Govt gets tax-rich from oil sector, consumers bear brunt

February 26, 2021 Stu Turley

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 […]

Chinas state-run refineries- modern integrated plants embrace new Iraqi Basrah Medium crude - EnergyNewsBeat
Crude Oil News

China’s state-run refineries, modern integrated plants embrace new Iraqi Basrah Medium crude

February 24, 2021 Stu Turley

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 […]

India Gas Pump - Energy News Beat
Downstream

India’s high gasoline price and inflation are heading to the United States

February 20, 2021 Stu Turley

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 […]

WTI -energy news beat
Crude Oil News

WTI falls below $60/bl as storm freezes oil demand

February 19, 2021 Stu Turley

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 […]

Motiva Enterprises refinery
Downstream

America’s Largest Oil Refineries Are Going Dark Amid Cold

February 15, 2021 Stu Turley

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. […]

Bharat Petroleum - Energy News Beat
Downstream

BPCL to buyout Oman Oil stake in Bina refinery for Rs 2,400 cr

February 12, 2021 Stu Turley

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), […]

Downstream

NGL Energy Partners LP Announces Third Quarter Fiscal 2021 Financial Results

February 10, 2021 Stu Turley

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 […]

Altona refinery - Energy News Beat
Crude Oil News

ExxonMobil Australia to shut 90,000 b/d Altona refinery

February 10, 2021 Stu Turley

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 […]

Downstream

BP, Rosneft strike deal to work on energy transition projects

February 4, 2021 Stu Turley

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 […]

China Refiner - Energy News Beat
Crude Oil News

China refining growth supports crude demand

January 27, 2021 Stu Turley

 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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