Page 5 - Oil Refinery

BP CEO quits over failure to disclose past relationships with colleagues

Looney, 53, will be replaced on a interim basis by Chief Financial Officer Murray Auchincloss

PM Modi to lay foundation stone for Bina refinery expansion on 14 Sept

Production of petrochemicals such as Styrene, Phenol, and Nitrobenzene will have applications in paint, pharma & automotive industries, the Ministry said

After outlier record high global diesel cracks in 2022, margins plunge

Russia's invasion of Ukraine in February last year pushed diesel and petrol cracks to record in the following quarter, giving oil refiners globally unprecedented profits but they have crashed this year, denting refiners' profits. A crash in global cracks in April-June this year will shrink profits of refiners when compared with the outlier period of last year, an analysis of data and industry experts said. Rising demand, low inventories and oil market disruption centered around Russia's invasion of Ukraine pushed cracks -- the differential between a barrel of crude oil (raw material) and the petroleum products refined from it -- upwards starting March last year. Diesel cracks shot to over USD 30 per barrel and petrol inched closer to USD 20 and the upward trajectory continued in April-June quarter. Diesel cracks in June last year soared to USD 74.95 a barrel while petrol cracks neared USD 42. Jet fuel cracks soared to USD 62. An analysis of data for past five years showed petrol ..

As Russian discounts erode, Indian oil refiners may shift back to the Gulf

Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores

Indian refiners used Chinese yuan to pay for some Russian oil imports

The official also said the Reserve Bank of India will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism

Refiners' crude processing hits 5-month low in April due to maintenance

In March, crude oil processed at 23 million tonnes was the highest since Reuters records going back to 2009

Looking to build smaller refineries to avoid land acquisition hurdles: Puri

Large project plans such as the 60 MMTPA West Coast refinery have stagnated

Refinery rejig: Why is India steadily raising petrochemicals capacity

Estimates for the sector are bullish for a decade but it is not an easy business to run, say experts

BPCL unveils Rs. 49,000 cr petrochemical project at Mumbai's Bina Refinery

Bharat Petroleum Unveils Ambitious Rs. 49,000 Crore Petrochemical & Capacity Expansion Project at Bina Refinery

Rosneft planning to build greenfield refinery in India with state refiners

Indian Oil Corporation and Bharat Petroleum are expected to be likely candidates for the JV

Indian oil export basket in FY23 was most diversified ever, shows data

Israel, Brazil, and South Africa broke into top 10 list of destinations for Indian refined petroleum products

No initiation of refinery project at Barsu without locals' consent: Maha CM

Maharashtra Chief Minister Eknath Shinde on Friday said the proposed refinery project at Barsu village in Ratnagiri district will not be implemented without the local people's consent, and appealed for calm in the area. The situation in the village, where protesters who are opposing the refinery have gathered, was peaceful, he claimed while speaking to reporters here. Earlier in the day, police used tear gas in Barsu and Solgaon villages in Rajapur tehsil to disperse the protesters and detained Shiv Sena (UBT) MP Vinayak Raut. Shinde said he spoke to Ratnagiri collector and superintendent of police as well as district guardian minister Uday Samant, and the collector told him that there was no lathi (baton) charge at the site. "A former chief minister himself had suggested the Barsu site to the Union government. After losing the CM's post, he is opposing the project. One can not have such double standards," he said, apparently referring to Shiv Sena (UBT) leader Uddhav Thackeray .

How Russian oil is still powering Europe's cars with help from India

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show

As oil refinery fuels protests, Maha minister says site suggested by Uddhav

Amid protests against a proposed oil refinery in Maharashtra's Ratnagiri district, state Industries Minister Uday Samant on Tuesday said the current site for the mega project was suggested by then-CM Uddhav Thackeray, while the Opposition urged the government to stop soil survey work and be sensitive in handling the situation arising out of the agitation. Samant's statement came in the backdrop of protests by local people in the coastal district against the soil survey work for the multi-billion dollar project over environmental damage concerns. In a fresh agitation, more than 30 women were detained by the police after they protested by lying on the road to stop government vehicles from entering the project site at Barsu village, around 400km from Mumbai, while the Opposition Shiv Sena (UBT) demanded an immediate end to atrocities on protesters. Samant alleged "misunderstandings" are being deliberately created about the project for political mileage and slammed the "politics of doub

State refiners post 8.4% rise in gasoil to 3.45 mn tonnes in April 1st half

Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed

Oil India hits 8-month high on highest-ever quarterly profit in Q3FY23

In the past six months, Oil India soared 26 per cent, as against 3 per cent rise in the S&P BSE Sensex

Greenko lowest bidder for first green hydrogen tender by oil refinery

Numaligarh Refinery is setting up a plant with a capacity of 300 kg per hour

Indian refiners pay traders in dirhams for Russian oil, says report

Indian refiners and traders are concerned they may not be able to continue to settle trades in dollars, especially if the price of Russian crude rises above a cap imposed by the Group of Seven nations

BPCL plans to shut Bina refinery in June for a month for maintenance

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

HPCL to operate Vizag refinery at expanded capacity of 15 MTPA from Jun-end

India, the world's third biggest oil importer and consumer, buys over 80% of its oil needs from overseas