Rising Use of Plastics to Drive Oil Demand to 2050 - IEA
Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency (IEA) said on Friday.Despite government efforts to cut pollution and carbon emissions from oil and gas…
Russia Ramps up Fuel Exports in Fight for European Market
Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation of…
Concordia Maritime Signs Time Charter Contract for P-MAX Tanker
Concordia Maritime signed a contract to charter out another P-MAX tanker. The contract, which comes into effect at the beginning of February 2016, is for one year with an option for a further year. The contract partner is a UK shipping company. “We…
Rosneft 9M Profit Up
Commenting the results for 9M 2015, I.I. Sechin, Chairman of Rosneft Management Board, said, “Despite of challenging economic environment, the Company keeps improving its efficiency. This is demonstrated by keeping operating costs in rouble terms at…
New Record for Petrobras Brazilian Refineries
Petrobras’ refineries in Brazil achieved a new annual oil processing record in 2014. The average volume processed was 2.1 million barrels of oil per day (bpd), up 34,000 bpd (1.7%) from the previous record, set in 2013. In addition, Petrobras also achieved a number of monthly records at its refineries…
Russia May Cut Exports of Crude, Oil Products
Russia may cut exports of crude oil and oil products in December as traders expect lower export duties to be enforced from the start of the next year, trading sources told Reuters on Wednesday. Russia will calculate export duties for January based on prices from the period between Nov.15 and Dec.14.
Syzran Refinery Output Up
Following the results of nine months of 2014, Syzran Refinery, a part of the Samara group of refineries of Rosneft, increased output of major oil products compared to the same period in 2013. For instance, almost 1.5 million tons of diesel fuel were…
Ceremony of Isomerization Unit Launch at Kuibyshev Refinery
The ceremony of launching an isomerization unit with a capacity of 280 thousand tons per year took place yesterday at Kuibyshev refinery, a Rosneft’s subsidiary. The isomerization unit will allow producing of high-octane number component – isomerizate…
Rosneft Increases Oil Production at Tuapse Refinery
As part of works on finishing construction of Tikhoretsk-Tuapse-2 long-distance pipeline, including building of the engineer protection equipment on mountain tract of the pipeline and on the head tract of the pipeline, after finalizing a complex under oil test…
Oil Steadies Below $111 as Supply Fears Fade
Brent crude oil steadied under $111 a barrel on Monday, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year. The North Sea oil benchmark dropped 2.3 percent last week, its biggest weekly decline since January…
Oil steadies below $111 as supply fears fade
Libya lifts force majeure on oil exports from two ports; Iraq supply worries ease as southern oilfields unscathed. Brent crude steadied under $111 a barrel on Monday, just above a three-week low, as Libya geared up to resume oil exports from two ports closed for nearly a year.
