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...expensive exercise.” Having no refining capacity puts a country at a significant economic disadvantage. Being able to produce crude oil is meaningless to a consumer, if that crude oil cannot...
...20 years, the Aden refinery was one of BP’s most profitable, taking cheap crude oil from inland Yemen and converting it into heavy fuel oil for shipping. However, in 1977...
...of Russia’s role in the petroleum industry as the world’s second-largest crude oil producer and largest exporter of refined oil products. Closer to home, Russia supplies about 30% of Europe’s...
...and 3.8 million mt of fluid catalytic cracking capacity, placing it in the category of medium complexity, with a Nelson Complexity Index of 8.2. Storage capacity for crude oil and...
According to a new report by Bloomberg Intelligence (BI), a supply gap big enough to push crude to a speculated $100 a barrel is unlikely, especially as OPEC has spare...
...“WTI” for short, is an important global crude oil benchmark. But its price is based on market value for delivery at an inland terminal at Cushing, Oklahoma, USA. Cushing is...
...8.97 MMT of crude, a 5% increase on the previous year’s 8.54 MMT. Gross revenues for the 12 months were $4,992 million, a 34% drop to the $7,615 million reported...
...full tanks with refineries now reducing production by 50% and cancelling crude deliveries. On March 11, the daily report suggested that; “In a worst-case scenario the Dow Jones could fall...
...demand, for both crude oil and refined products. The need for this role was heightened from the early 1970s, as vertically integrated supply chains became less secure and geographical imbalances...
...that the refinery can handle 45 different types of crude oil – although given its geographical proximity, the plant typically runs between 85% – 95% of North Sea sourced feed...
...crude costs and drive revenue growth. Operational and financial performance: Key indicators March ending Q4 FY17 Q4 FY16 FY17 FY16 Throughput (in MMT) 2.22 2.20 9.09 8.97 Gross Revenue (in...
...a 2.1mmbpd fall in crude production in June from a 13 million barrel a day peak in the first quarter of the year. Westwood now estimates that overall oversupply for...
...oil prices began moving higher, with ICE Gasoil pushing above $1,000/t. and ICE Brent Crude peaking at $95.55/b. ARA diesel inventories began falling below long-term averages as the reality of...
...volatility which is generally seen as synonymous with oil. The future of Iran’s nuclear programme with the possibility of sanctions easing, civil unrest in Libya affecting its crude exports, and...
...who, respectively, source 42% and 17% of their requirements from Norway. Crude oil production is currently running at around 85 mln Mt/year, down from the 2001 peak of 163 mln...
...and impacts on, Brent crude and HVO diesel on a quarterly basis. With data supplied by The Oil Market Journal, we will highlight some of the key events that impact...
...also seen in the wholesale natural gas market over the last decade. A decline in domestic refining capacity coupled with the decline in crude production from the UK Continental Shelf...
...history. Rory Clarke, Group Managing Director said that Rix Petroleum’s performance – which saw sales reach £535.1m – resulted principally from the recovery of crude oil prices which underpin the...
