Sources say that Chinese exporters will increase prices and renegotiate after the tax rebates are cut.
Analysts and traders said that Chinese exporters will increase prices on a variety of products, from used cooking oil to aluminium, and renegotiate their contracts to pass the cost of Beijing’s tax incentives. On Friday…
US soyoil prices jump as China reduces export incentives for biofuel feedstocks competing with US soyoil
U.S. Soyoil Futures rose 2% on the Friday after China announced it would reduce export incentives for certain products, including used cooking oils. Used cooking oil is a low-cost source of feedstock that U.S. Biofuels…
How Much Oil Does the EU Import from Russia?
The European Union has agreed to ban the bulk of imports of Russian crude and oil products in its latest round of sanctions following Moscow's invasion of Ukraine.The ban on seaborne crude imports will be phased in…
China's Crude Oil Imports Rebound
China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes.China brought in 41.24 million
China Grants Zheijang First Private Fuel Export License
China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The…
China's Daily Crude Oil Imports Rebound in April
China's crude oil imports rebounded in April from a month earlier on daily basis as refiners ramped up output amid a recovery in fuel demand with the impact of the coronavirus outbreak easing while crude prices crashed…
China Issues More Crude Oil Import Quotas
China has lifted its crude oil import quotas to allow mostly private refiners to bring in a further 12.9 million tonnes this year, a document seen by Reuters showed on Tuesday, feeding a new generation of huge refineries.The…
Oil Shipments from Georgia's Batumi Port Drop
Oil and oil-related shipments from Georgia's Black Sea port of Batumi dropped 24 percent in the first four months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Wednesday.Shipments…
SOCAR's New Oil Refinery in Turkey to Start Up Next Week
Azeri state energy company SOCAR plans to start up its new oil refinery in Turkey next week, a spokeswoman at SOCAR's Turkish division said on Tuesday.The $6.3 billion Star refinery, the first in Turkey built in 30 years…
Oil Shipments From Georgia's Batumi Drop 45%
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell by 45.3 percent in the first eight months of 2018 from a year earlier, an official at the KazMunaiGas operated terminal said on Monday.Some crude oil has been re-routed to the Baku-Tbilisi-C
Jan-March Oil Shipments from Georgia's Batumi Down 54 pct
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 53.7 percent between January and March from a year earlier, an official at the KazMunaiGas-operated terminal said on Wednesday. The official…
Brazil Refined Oil Products Output Dipped in 2017
Brazilian production of refined oil products slid 4.5 percent last year to 665.721 million barrels compared with 2016, oil regulator ANP said on Friday, as output of both diesel and gasoline dipped. In 2017, gasoline…
Sri Lanka in Talks with Chinese Firms for $3 Bln Refinery
Sri Lanka is in talks with two Chinese companies about investing up to $3 billion to build in a new refinery at its Chinese-controlled port, a top government official said on Friday. Sri Lanka wants to build a new refinery in its southern Hambantota port…
Oil Shipments from Georgia's Batumi Port Down by 34%
Oil and related shipments from Georgia's Black Sea port of Batumi are down by 33.9 percent in the first eight months of 2017, a senior official at the terminal, operated by Kazakh state firm KazMunaiGas, said on Friday.
China Moves to Ease State Oil Majors' Grip on Storage
Beijing on Wednesday issued a draft of new regulations for China's growing oil and fuel storage industry, helping loosen the state-owned oil majors' grip on the sector as the nation pushes to reform its vast energy markets.
Saudi Aramco Hiring in Singapore
The trading arm of oil giant Saudi Aramco is looking to step up hiring for its Singapore office as it pushes into the regional energy hub, three sources with knowledge of the matter said. The office aims to employ…
Liveris to Retire From DowDuPont
Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017…
Cuban Refined Oil Product Exports Drop Sharply
Cuban exports of refined oil products fell about 97 percent between 2013 and 2016, according to a United Nations trade report released this week, reflecting falling supplies from its political ally Venezuela. The…
Shell's Profit Surges As Oil Sector Rebounds
Royal Dutch Shell said net profit more than doubled in the first quarter, joining its peers in beating analyst forecasts as rebounding oil prices and refining margins lifted revenue after a near three-year downturn.
For North Korea, Cutting Off Oil Supplies Would Be Devastating
Isolated North Korea doesn't consume much oil, but curbing or cutting off its supplies in retaliation for further nuclear or long-range missile tests would be painful and potentially destabilising to the regime of Kim Jong Un. U.S.
