Oil Refineries

Refiners likely to buy more US LPG in 2026, cut Middle East imports

The state refiners have already informed their traditional suppliers of LPG in Saudi Arabia, United Arab Emirates, Kuwait and Qatar about the likely cut in LPG purchases

China's plan to cut refining capacity faces pushback in key regions

China's oil refiners need to stop producing so much transport fuel because the energy transition means the demand is no longer there

India's oil reforms to blunt US and European Union supply coercion

The government has no say in where the country's refiners source oil from because these are commercial transactions, the official reiterated

Oil refiners' May crude processing edges up 0.4% from a year earlier

India's fuel demand in May rose to its highest in more than a year, while crude oil imports reached a record high of 23.32 million metric tonnes

Saudi Arabia's push into Indian refineries stalled over crude oil supply

The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth

Trump's Russian oil threat pushes Indian refiners to seek alternatives

Trump raised the prospect of so-called secondary tariffs on buyers of Russian oil if President Vladimir Putin refused a ceasefire with Ukraine

Unable to repatriate earnings, Rosneft looks for an exit from Nayara Energy

Reliance Industries, Adani Group, and JSW Group may be among potential buyers of Rosneft's 49.13% stake in Nayara Energy

Reliance likely to move Dubai crude team to India in global trade rejig

In 2021, Reliance, controlled by billionaire Mukesh Ambani, announced the opening of an office in UAE to trade oil and refined fuels including petrochemicals

Russia's oil refining capacity likely to fall by 15% in later half of Oct

A decline in idle oil refining capacity usually leads to less available crude oil and a resulting fall in exports as refineries consume more feedstock to produce fuel

Crude oil prices drop by 21% since March, but fuel costs continue to sting

With inflation easing and elections around the corner, speculation is growing that petrol could become cheaper by Rs 10 per litre and diesel by Rs 6-8 per litre

India's state refiners in talks for long-term oil import deal with Russia

Nayara Energy and Reliance Industries have already signed term deals for Russian oil imports

More than 20% of global oil refining capacity is at risk of closure

About 30 European refineries have already shut down since 2009, data from industry body Concawe shows, with nearly 90 still in operation

Indian Oil Corporation appoints Rashmi Govil as Director, Human Resources

Rashmi Govil has taken charge as Director (Human Resources) at Indian Oil Corporation Limited (IndianOil), the Fortune-500 energy major said on Friday. "She joined IndianOil in 1994 and brings with her nearly three decades of rich experience in various facets of the human resources function," the company said in a statement. Govil is a seasoned professional with an MBA specialising in HR and a Postgraduate Diploma in Finance. Prior to her appointment as Director (HR), she was serving as Executive Director (HRD & Employee Relations) at the company's corporate office. With this elevation, IndianOil now has two women functional directors on its Board. Sukla Mistry, Director (Refineries), is other director on the board that has a total of seven functional directors. "Govil has also worked at IndianOil's refineries headquarters," it said. "Her rich and varied experience has laid the foundation for her deep understanding on the nuances of the function including compensation and ...

Govt to halve oil refiners' FY24 energy transition equity support: Report

State-run Bharat Petroleum Corp and Hindustan Petroleum Corp aim to end net carbon emissions from their operations by 2040, and Indian Oil Corp has set a target for 2046

Govt owned refiners increase Russian oil imports despite G7 price cap

The Indian imports from Russia increased due to a lower demand from China leaving more oil to be supplied to the Indian markets, an industry expert said

World's oil refiners are struggling to make enough diesel: Here's why

While oil futures are rocketing - on Friday they were just below $95 a barrel in London - the rally pales in comparison with the surge in diesel

India working on enhancing oil refining capability: Oil Minister Puri

India maintained "affordability" of petroleum products notwithstanding disruptions in the global energy markets and the hike in prices of petrol and diesel in the last two years has been marginal compared to several large economies and neighbouring nations, Oil Minister Hardeep Singh Puri said on Friday. In an interaction with a group of reporters, he also slammed the opposition for attacking the government on oil prices saying the states ruled by it are selling petrol and diesel at higher rates compared to those governed by the BJP which significantly cut the VAT on petroleum products to bring down the rates. The oil minister also said that India is in the process of expanding its oil refining capabilities. India is already the world's fourth largest refining hub and we are going to end up as the second largest refining place, Puri said while highlighting the Modi government's success in areas of trade and foreign policy. "PM Modi's governance is transforming our foreign policy, .

Centre mulls building several refineries, not one UAE-Saudi plant

"The role of Maharashtra government is crucial in acquiring the land," the source said

India pushes oil refiners to diversify imports after surprise OPEC+ cuts

As the world's third largest consumer and importer of oil, India buys about 85% of its needs from overseas, while its energy demands are set to rise to power its economic expansion

Fears of fuel shortage grow in France amid strikes over wages at refineries

Strikes in France's major refineries continued, leading fears over fuel shortage across the country