Daily Archives: January 20, 2021

02 JAN – Lower runs at China’s refineries, higher in Japan

  China’s crude throughput fell slightly in December due to some maintenance works toward the year-end, the latest industry data and information collected by S&P Global Platts showed.   The average run rate of the four state-owned oil majors, Sinopec, PetroChina, CNOOC and Sinochem, stood at around 78% to date in December, from an 80%…

02 JAN – China issues 5 mln T clean marine fuel export quotas for 2021

    SINGAPORE: China has issued 5 million tonnes of clean marine fuel export quotas in the first release for 2021, to five companies including a private refiner, according to two trading sources with knowledge of the matter.   The quotas for the very low sulfur fuel oil (VLSFO) were granted to state-run Sinopec, CNPC,…

02 JAN – U.S. Energy Independence Is Fueling Iran’s Middle East Power Grab

  The global economy, international geopolitics, and intra-national security have hinged upon oil production capacity and petrol markets so thoroughly that it’s easy to forget that it wasn’t always this way. As the Brookings Institution once wrote of oil, “In the modern era, no other commodity has played such a pivotal role in driving political…

02 JAN – OPEC+ start to gradually increase oil production with an eye to new risks

  MOSCOW,  OPEC+ countries are beginning to gradually increase oil production after nine months of tough restrictions. The rate of production increase will not exceed 0.5 mln barrels per day (bpd). By setting such a small rate, the oil exporters, which account for 40% of the global oil market, will be able to better control…