Page 2 - Oil Refinery

Despite US pressure, Russian oil tankers unload at Indian refineries

More tankers are poised to discharge another 2.2 million barrels of Urals in the coming hours

Fire at Iran's largest oil refinery kills 1 in country's southwest region

A fire at Iran's oldest and largest refinery in the southwest killed one person, state media reported Sunday. A leaky pump in an under-repair unit at Abadan refinery caused the fire on Saturday, killing a worker, according to the state-owned IRAN newspaper. Firefighters put out the blaze in two hours and operations remained unaffected, the report said. Iran's deputy parliament speaker, Ali Nikzad, confirmed Sunday that some workers were also injured, media outlets said. Abadan oil refinery, some 670 kilometres from the capital Tehran, began its operation in 1912. It is the biggest in the Islamic Republic, producing about 25 per cent of the country's fuel with more than 5,200,000 barrels of oil refined daily. Several fires have broken out across Iran over the past week at residential and commercial buildings, with authorities saying gas leaks and electrical short-circuiting were to blame. Iran is one of the world's major producers of oil, though sanctions by Western countries have

India criticises EU sanctions on Russia, including Gujarat refinery

The "Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," said MEA

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

Indian private refiners dominate buying of Russian flagship oil grade

Reliance Industries Ltd. and Nayara Energy Ltd. alone took 45 per cent of Russia's shipments of the medium-sour variety

Indian Oil to complete Panipat, Gujarat refinery expansions by December

Targets $4 billion of capex in FY26, up from $3.71 billion last year

Foreign technical partners to have 1st right of refusal on oil finds: Puri

Petroleum minister cites ONGC-BP and Oil India-Petrobras deals as models where foreign technical partners will be given priority rights on oil or gas discoveries

Oil regulator mandates LNG terminal registration, scraps carrier rule

The oil regulator has made it mandatory for companies planning to establish new liquefied natural gas (LNG) import terminals or expand existing ones to obtain prior approval, but dropped the requirement to reserve a portion of the terminal capacity for third-party access. The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified Registration for Establishing and Operating Liquefied Natural Gas Terminals Regulations, 2025. "These regulations lay down a robust framework focused on registration and oversight of LNG terminals, (and) promotion of competition among entities and prevention of infructuous investments," the regulator said, adding that the rules are a step in alignment with India's vision of increasing the share of natural gas to 15 per cent in the energy mix by 2030. The norms also seek to ensure equitable and adequate natural gas availability across the country, protection of consumer interests through improved access and supply reliability, and facilitate ...

US imposes sanctions on Chinese refinery accused of buying Iranian oil

The Treasury Department imposed sanctions Wednesday on a Chinese refinery accused of purchasing more than USD 1 billion worth of Iranian oil, saying the proceeds help finance both Tehran's government and Iran's support for militant groups. The sanctioned refinery in China's Shandong province received dozens of shipments of crude oil from Iran worth more than USD 1 billion, the Trump administration said. Some of the petroleum came from a front company for Iran's paramilitary Revolutionary Guard, U.S. authorities said. Officials also announced that several companies and vessels involved in the shipments were added to the sanctions list. The new penalties were imposed by the Office of Foreign Assets Control and follow earlier efforts by the administration to disrupt the flow of Iranian oil, which authorities say is carried by Iran's shadow fleet." The United States has already penalized dozens of individuals and vessels involved in the shipments. Any refinery, company, or broker that

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

Saudi Aramco in talks to invest in planned refineries of BPCL, ONGC

Aramco is in separate talks to invest in Bharat Petroleum Corp's (BPCL) planned refinery in the southern state of Andhra Pradesh and a proposed Oil and Natural Gas Corp (ONGC) refinery

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

Indian refiners turn to Latam, Africa to replace Russian oil in Feb: Data

The South Asian nation became the biggest buyer of Russian seaborne oil sold at a discount after Western nations imposed sanctions on Moscow

India bought 112 billion euro worth of Russian oil since Ukraine war

India, the world's third largest oil consuming and importing nation, spent 102.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. "According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports," it said. China was the biggest buyer of Russian fossil fuel at EUR 235 billion (made up of EUR 170 billion for oil, EUR 34.3 billion for coal and EUR 30.5 billion for gas). India, according to CREA, bought fossil fuel worth EUR 205.84 billion from Russia from the beginning of the war until March 2, 2025. This comprised EUR 112.5 billion (USD 121.59 billion) for purchase of crude oil, which is refined into fuels like petrol and diesel at refineries, and EUR 13.25 billion for coal. India, which is

Oil retailers pick 26 PACS to set up retail petrol, diesel outlets: Shah

Oil marketing companies have selected 26 Primary Agricultural Credit Societies (PACS) out of 286 applications for setting up retail petrol and diesel outlets, Cooperation Minister Amit Shah told Parliament on Tuesday. In a written reply to the Lok Sabha, Shah said the government has allowed PACS to operate retail petrol and diesel outlets and LPG distributorship. As informed by Oil Marketing Companies (OMCs), 286 PACS from 25 states and Union Territories have submitted online applications to establish retail petrol/diesel outlets, of which 26 PACS have been selected by OMCs, he said. Under conversion of PACS, Wholesale Consumer Pumps into retail outlets, OMC reports indicate that 116 PACS from five states have agreed to this conversion, and 56 PACS have been commissioned. For LPG distributorship, two PACS have applied for the two advertised locations in Jharkhand. As per the revised guidelines, PACS have been included under Combined Category 2 (CC-2) for retail petrol/ diesel ...

ONGC signs MoU with BP for oil exploration, trading collaboration

State-owned Oil and Natural Gas Corporation on Monday said it has signed a pact with global oil major BP to explore collaboration in exploration and production, trading and other energy vectors, in India and internationally. The MoU comes within a month of ONGC selecting BP as a technical service provider for raising output from its flagship Mumbai High oil and gas field. "ONGC and BP have agreed to explore opportunities for collaboration and partnership across the energy industry in India and internationally, focused on oil and gas exploration and production, as well as trading and extending to other energy vectors," the firm said in a statement. The two companies signed a memorandum of understanding (MoU), on the eve of India Energy Week, the premier energy event in India. The signing ceremony was attended by ONGC Chairman and CEO Arun Kumar Singh and BP Executive Vice President, William Lin, along with senior leadership from both organisations. "Under the terms of the MoU, BP w

Ukraine strikes major Russian oil refinery twice in 3 days: Official

Ukrainian long-range drones struck one of Russia's biggest oil refineries for the second time in three days, a senior Kyiv official said Monday, as Ukraine tries to slow the Russian army's push along parts of the front line and the third anniversary of the war approaches. The attack late Sunday hit a refinery in the Volgograd region, which is one of Russia's 10 biggest refining facilities, processing close to 6% of the country's oil, an official in Ukraine's Security Service told The Associated Press. Russian authorities acknowledged only a brief fire at the Volgograd refinery during the drone attack. Ukrainian defences are creaking under months-long Russian drive to occupy more land, especially in Ukraine's eastern industrial heartland, before the possible start of peace negotiations steered by US President Donald Trump. Ukraine, though heavily dependent on Western military aid, has been developing its own arms industry, including drones that can fly increasingly long ranges with

Exxon reports mixed Q4 results with strong production, weak refining profit

Lower corporate costs also enabled the company to beat profit estimates, said RBC Capital Markets analyst Biraj Borkhataria. Earnings from producing gasoline and diesel were $323 million

Phillips 66 Q4 loss softened by renewable fuels as refining margins fall

On an adjusted basis, the company reported a loss of 15 cents per share in the quarter, compared with the analysts' average estimate of 23 cents loss per share, according to data compiled by LSEG

Indian refiners test FOWE's emulsion tech to clean polluting bunker fuel

Indian oil refineries have initiated tests of fuel emulsion systems from a Monaco-based company to clean highly polluting bunker fuel as they eye significant benefits, including substantial fuel cost savings and a reduction in environmental impact of the high carbon-emitting fuel used in ships. Two state-owned oil firms deployed Fowe Eco Solutions' (FOWE) patented Cavitech devices at their refinery and depot installations to check the result of emulsified fuel oil (bunker fuel), sources aware of the matter said. Trials showed substantial reduction in emissions and better fuel efficiency, they said, adding the refiners are now looking at tests for its commercial use. Requiring very little initial investment and eliminating the need for installation downtime, the FOWE uses a process known as cavitation using its Cavitech device, which allows emulsification of fuel oil, also known as furnace oil, with fresh water. This process, which does not require any additives or further processing