Nayara Energy Increases Fuel Sales to HPCL after EU Sanctions
India's Nayara Energy has raised fuel sales to state retailer Hindustan Petroleum Corp after the Russia-backed refiner's exports were hit by European Union sanctions, a government source said on Tuesday.Since the imposition of sanctions, Nayara has been operating its 400,000 barrel-per-day (bpd) Vadinar refinery in western India at 70-80% capacity.Higher local sales of refined fuels would help the company to sustain its refinery runs, the source added."We would like them (Nayara) to operate at as high capacity as it can," the source, who did not wish to be identified, told reporters.While othe
State researcher: China's oil demand will peak in 2027 and is up 100,000 bpd from this year.
A state oil researcher stated on Monday that China's total demand for oil, including all its products, will peak in 2027. This year, the sector of petrochemicals is expected to increase by about 100,000 barrels a day, due to increased volume. The researcher says that the soaring use of electric vehicles (EVs) in China, which is the largest oil importer in the world, has eroded fuel demand. EVs are expected to replace at least 582,00 barrels of gasoline per day this year. Researchers…
Bapco Energies eyes fourth quarter completion for refinery expansion
Alexander van Veldhoven said that the group chief strategy officer of Bahrain's state oil company Bapco Energies, Alexander van Veldhoven spoke at the Asia Pacific Petroleum Conference in Singapore on Monday. He said that the expansion would increase Sitra's refinery capacity from 265,000 barrels per day to "just below 400,000 barrels per days". "We are at the end of this program. He added that the majority of units were already up and running. "We are getting close to commissioning our last refinery units," he said.
Canada commits money and regulatory reforms to boost biofuels
Canada's government announced on Friday that it would spend hundreds of millions of dollar and ease regulations in order to boost the production of biofuels, which is facing stiff competition from the United States. In an announcement of aid designed to help businesses deal with the damage caused by U.S. trade disruptions and tariffs, Prime Minister Mark Carney highlighted support for biofuels. Canola seed, which is used in biofuels and other products, faces high tariffs and duties in China, its largest export market.
US biodiesel imports and renewable diesel plummet after tax credit changes
The U.S. Energy Information Administration reported on Thursday that imports of biodiesel in the United States and renewable diesel in Canada fell to their lowest level in a decade in the first half 2025 following a change of tax credits for these fuels. This year, the U.S. revamped its tax credit program to encourage biofuel production and use. The changes have effectively ended such incentives for imported biodiesel or renewable diesel. Up until last year, both imports and domestic production received the same $1 credit per gallon. The new program only applies to domestic production.
Russian Seaborne Diesel Exports Fall in August
Russia's seaborne diesel and gasoil exports fell 6% on the month in August to about 3.1 million metric tons as damage from Ukrainian drone strikes hit production, data from market sources and LSEG showed.Last month Ukraine intensified drone attacks on Russian oil facilities, targeting major refineries and oil depots mainly in southern and central Russia daily ahead of a meeting between U.S.
Angola to start oil production at Cabinda refinery in the year-end
Angola's planned 30,000-barrel-per-day Cabinda oil refinery, the first to be built since independence a half-century ago, will begin producing fuel by year-end, the Southern African country's oil and gas minister said on Monday. Angola will benefit from the project which will be its second refinery. It will also help reduce Angola’s dependence on expensive fuel imports, as government attempts to eliminate fuel subsides have led to deadly protests. Diamantino zevedo said, "Today…
Sources: Olmeca is still offline, but Mexico's Minatitlan has been brought back to life.
Sources told Thursday that Mexico's Minatitlan refinery, which produces 285,000 barrels per day, was restarting Thursday. The 340,000 bpd Olmeca was still not running. Sources said that heavy rains caused the power to go out at both Minatitlan, in Veracruz - one of Mexico's older refineries - and Olmeca, in Tabasco - the country's newest refinery. One source said that Minatitlan would be back online by Thursday. Sources say that the Olmeca refinery (also known as Dos Bocas) is expected to try to restart on Thursday.
Data shows that Pemex crude exports rose in July, while refinery production dropped.
According to the most recent data from the company, Pemex, the Mexican state oil company, reported that crude oil exports rose by 31% in July, compared to last month. However, the company's refining production fell slightly in the same time period. Pemex exports and refinery output are closely monitored as the government attempts to reduce motor oil imports and prioritize domestic processing in order to achieve energy independence. Exports in July reached 600,669 barrels a day (bpd), up 31% compared to June when they hit a multiyear low.
PetroChina's H1 profits down 5.4% from the previous record
PetroChina, China's largest gas and oil company, reported a 5.4% drop in its first-half net profit compared to a record set a year ago, due to lower oil prices. According to a filing at the Hong Kong Stock Exchange, the net profit was 84 billion Yuan ($11.7billion), down from the 88.8billion yuan of the same period in last year. Revenues fell 6.7%, to 1.45trillion yuan. PetroChina, China’s second largest refiner, reported a 0.1% increase in crude throughput to 694.3 millions barrels or 3.84million barrels per day.
BP's Whiting refinery, Indiana, continues to flare up days after a severe thunderstorm
BP's Whiting refinery, which produces 440,000 barrels per day, has continued to flare up after flooding disrupted operations earlier this week. In a post on social media, the company stated that the facility continues to burn materials to maintain safe operation. They also added that floating barriers have been placed in Lake Michigan to act as a precaution due to the wind and wave conditions. The company stated that "there are no known impacts beyond the refinery" at this time. The Whiting refinery was affected by flooding earlier this week caused by a severe storm overnight.
Sources say that the US will rule on biofuel waivers but large oil refiners might need to wait.
Two sources familiar with Trump's plans say that the administration will rule as soon as Friday on a backlog of requests for relief from U.S. Biofuel Laws from small oil refiners. However, it will defer a decision as to whether or not larger refiners are required to compensate by increasing their own biofuel blend. Sources said that the U.S. Environmental Protection Agency will announce Friday its decision on 195 small refinery exemption applications pending since 2016. According to one source briefed about the decisions, the rulings won't be a big win for small refiners.
Sources say that the Trump administration will delay a decision on reallocation and biofuel exemptions, but rule on requests for biofuel exemptions.
Two sources familiar with Trump's plans say that the administration will rule as soon as Friday on the growing backlog for small refiners who are seeking exemptions from biofuel laws. However, the decision about whether the larger refiners must make up some of the exempted gallons is still pending. Sources said that the U.S. Environmental Protection Agency will rule on a few of the 195 small refinery exemption requests pending since 2016, on Friday. Sources briefed about the decisions said that there will be mixed results, with partial denials and some partial approvals.
Indiana's BP Refinery restarts following severe flooding
IIR, a monitor of the industry, said that BP's Whiting refinery, which produces 440,000 barrels per day, is in the process to restart after flooding disrupted operations earlier in the week. The units will take several days for them to ramp up, IIR added. IIR stated that the facility will be running at full capacity by early next week. The refinery reported that it was experiencing flaring as a result of flooding from a severe storm. BP posted on social media on Wednesday that materials will be burnt in flares to maintain safety operations.
BP confirms Whiting refinery operations have been affected by flooding
BP said on Tuesday operations at its 440,000-barrel-per-day refinery in Whiting, Indiana, were affected due to flooding caused by a severe thunderstorm overnight. BP has not said which units of the refinery were affected and if production was affected. A source cited by industry monitor IIR said that multiple units at Whiting refinery had been shut down on Monday night due to flooding. Source: The affected units include the primary crude processing units as well as the heavy distillate catalytic Cracker and Hydrotreater and middle distillate Hydrotreater.
Russia-Ukraine Peace Talks Mask Unexpected Oil Price Reactions
Brent oil prices have shifted very little over the last two weeks, staying in the range of $65 to $66 per barrel. The Russia-Ukraine peace talks loom large, with bearish sentiment winning out in anticipation of Russian barrels making a return to global markets.“The probability of the US placing stronger sanctions on Russia is waning, with the market expecting Russian oil trade to make a comeback as a result of the peace talks — yet this sentiment masks emerging signals toward upside," said Rystad Energy’s Senior Vice President, Chief Oil Analyst, Mukesh Sahdev.
US oil group opposes Trump's plan to reduce biofuel import credit
The top U.S. trade group for oil on Thursday added its voice to the chorus of protests against a government proposal that would reduce incentives for biofuels imports. This will test the Trump administration’s resolve to maintain the policy over the next few months. As a result of the mounting criticism, the White House is forced to choose between farmers who want to prioritize domestic supplies or refiners who are looking for cheaper feedstock. Both groups are loyal to Donald Trump.
EIA expects Brent oil to fall below $60/bbl by Q4
The U.S. Energy Information Administration forecast Brent crude oil spot price will average less that $60 per barrel during the fourth quarter. This would be the lowest average price since 2020. In its August Short Term Energy Outlook, it stated that it expects Brent to be around $50 per barrel by 2026. The global benchmark closed Tuesday at just over $66. The U.S. Department of Energy's statistical arm forecasted a significant drop in oil prices, as the growth of global oil supply vastly exceeds the growth of demand for petroleum-based products.
EIA: US crude inventories drop as exports increase
NEW YORK - U.S. crude stockpiles declined last week, as exports increased, and gasoline and distillate stocks also decreased, according to the Energy Information Administration on Wednesday. The EIA reported that crude inventories dropped by 3 million barrels, to 423.7 million in the week ending August 1. This was higher than the analysts' polled expectation of a draw of 591,000 barrels. The EIA reported that crude exports increased by 620,000 barrels a day (bpd), to 3.3 millions bpd. Stockpiles fell. The net U.S. imports of crude oil fell by 794,000 barrels per day.
Mexico shifts to fracking in order to boost Pemex oil production
Mexico plans to use hydraulic fracturing more to access unconventional hydrocarbons and boost oil and natural gas production, after years of declining production. This marks a change in Mexico's stance towards what some call a highly-polluting practice. Evaluation and development of unconventional hydrocarbon deposits hidden deep underground in complex geological formations are part of the 10-year plan to revitalize Petroleos Mexicanos (Pemex), Mexico's heavily indebted energy company.