Indian Detained in Connection With Singapore Refinery Petroleum Theft Case

A court sentenced the individual to four weeks in prison and issued a punishment order for SGD 4,046.70, which is equal in local currency to the amount of the bribe.

According to a media report, a 39-year-old Indian national in Singapore was sentenced to four weeks in jail and told to p...

Does India break the oil embargo imposed by the EU?

India's refinery trade creates various issues, including the low-cost importation of Russian crude and the high-priced exportation of the finished product to the US and EU. The fact check by DW has a few solutions.

Since Russia invaded Ukraine on February 24, Indian refineries have ...

Thailand oil Demand to Increase Next Year

The largest oil refinery of Thailand by capacity, Thai Oil Plc (TOP) has observed that the country’s domestic need for fuel has started returning to the level before the pandemic. The refinery believes that the demand for jet fuel will also return to normal once travel restrictions are lift...

Unipec to supply crude oil to private refiners facing tax probe

Unipec, is the trading arm of  Sinopec, one of Asia's largest refiner. Sinopec has now stepped in to supply crude oil to two independent refiners facing an official tax probe.

Highlights

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ENGINEERS INDIA RECEIVES CONSULTANCY PROJECT

HIGHLIGHTS

• Engineers India has received a project from IOCL.
• The project is worth Rs. 600 ten-million.
• The project is going to be implemented at the Panipat Refinery.
• Completion of project is likely to take 40 months.

RELIANCE COMPLETES SPIN-OFF OF O2C UNIT

HIGHLIGHTS

• Reliance has begun the enhancement of its O2C unit.
• Mukesh Ambani has many strategic partnership on the cards.
• Reliance reported the integrated earnings of the O2C business in its third quarter financial results.

CHINESE OFFICIALS URGES TO SHUT CNPC’S DALIAN REFINERY

Highlights:

• Vice governor of China’s northeastern province Liaoning appealed the central government to shut down the Dalian Petrochemical Corp. 
• Dalian Petrochemical Corp. is the subsidiary of China National Petroleum Corp. (CNPC). 

SOUTH KOREAN OIL REFINERS STRUGGLING DUE TO COVID-19

Highlights –

• Oil demand has been low due to the latest epidemic, crude prices struggle
• Singapore complex gross refining margin stood at $1.4 per barrel
• South Korea refiners earnings plunge in 2019 due to negative refining margins

SOUTH KOREA’S OIL REFINERIES CUT DOWN PRODUCTION – COVID - 19

Highlights –

• COVID-19 reduces oil consumption in the country
• Oil refineries facing a rapid loss
• Export to China has gone down

Due to the spread of COVID-19, South Korea’s oil refineries are going through a los...

The About to be Thriving Phu Yen Province of Vietnam.

Located on the South-Central Coast of Vietnam, the province of Phu Yen, has seen a remarkable development in recent years due to the various infrastructure and industrial projects undertaken by many domestic and foreign investors. The province is also encouraging investors to invest in projects l...

The Oily Kingdom!

Saudi Aramco is a state-owned oil giant that has in today’s market emerged as one the most valuable publicly traded company. On December 11, 2019 the Initial Public Offer was rolled out and since then the valuation of the company it has reached almost 2.03 Trillion Dollars. The stock was li...

REFINERY OF THE FUTURE WILL BE MORE PROFITABLE: HONEYWELL UOP

Refiners of today face a wide array of newer challenges than ever before. The biggest concerns are market dislocations, consistent investments to obtain clean-burning fuels and ever-growing demand for transportation fuels. At present, refiners are pushing new boundaries to set bigger goals, pursu...

Thailand will use blockchain technology to control VAT fraud related to oil exports

Recent reports have confirmed that Thailand will be considering the Block Chain Technology in order to curb VAT fraud involving oil export. According to Ledger Insights reports, the Excise Department of Thailand confirmed its tie-up with the Krungthai Bank for utilizing distributed ledger technol...