LONDON: Northwest European gasoline refining margins fell on Tuesday as refineries on both sides of the Atlantic restarted, with lower crude oil prices providing some support.
The United Arab Emirates' state-run ADNOC, long seen as one of the most conservative oil firms in the Middle East, plans an overhaul for its trading operations as it seeks to emulate the success of rival oil majors and bolster its regional influence.
Nigerian state oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel, oil industry sources told Reuters.
Iran is ready to invest in the expansion of a South Indian refinery, an Iranian official said in New Delhi, as the country seeks new avenues of growth amid debilitating US sanctions.
Mexico will recapitalize state oil company Pemex and reduce its tax burden to help build a new refinery and raise production from onshore and shallow water fields, CEO Octavio Romero said on Tuesday.
Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulphur ship fuel starting next year, exporting some cargoes of very low-sulphur fuel oil (VLSFO) this month.
Refineries in the US Gulf that had shut because of the storm were preparing to restart.
Spain's Petronor has completed a planned maintenance shutdown at its 220,000 barrel per day Bilbao oil refinery, it said on Monday.
The maintenance, beginning May 27, led to the shutdown of its crude unit 1 with a capacity of around 130,000 bpd.
Marathon Petroleum Corp is attempting to restart the main gasoline-producing unit at its 585,000 barrel per day (bpd) Galveston Bay Refinery in Texas City, Texas, without a damaged transformer, said sources familiar with plant operations on Monday.
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