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Oil Refineries Latest News

Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier, according to three sources familiar with the matter.

Indian Refiners Pay Dollars For Russian Oil After Dirham Attempts Fail

India's private oil refiners are willing to work with state-run peers to bargain collectively for better oil import deals, oil minister Hardeep Singh Puri said on Friday, as the nation looks to cut its import bill.

Indian Refiners Willing To Join Forces For Cheaper Oil Imports

This was the highest since the onset of the country's coronavirus restrictions in March, when refiners processed 5.01 million bpd of crude oil.

India's Refinery Processing Limps To Six-Month Peak

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.

Oil Refiners Worldwide Struggle With Weak Demand, Inventory Glut

Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next as uncertain prospects for a recovery in fuel demand after the coronavirus pandemic triggered losses. The pandemic initially cut global fuel demand 30% and refiners temporarily idled plants. But consumption has not returned to pre-pandemic levels and lower travel may be here to stay, leading to tough decisions for permanent shutdowns. Royal Dutch Shell will permanently shut its 110,000-barrel-per-day Tabangao facility in Philippines' Batangas province, one of only two oil refineries in the country. Shell blamed a pandemic-led slump in margins for turning the plant into an import terminal.

Oil Refiners Shut Plants As Demand Losses Seen Continuing

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