Now, filling fuel in vehicles is possible with just a click

KOCHI: Now, filling your vehicle’s fuel tank will be just as easy as placing an online food order. In a novel initiative, an Indian Oil outlet at Thoppumpady here has started delivering fuel to customers in various residential flats and commercial establishments as part of the effort to reduce the risk of virus transmission. At…

Oil reserves build-up saves India Rs 5,000 crore

Swift action by the petroleum ministry has resulted int filling India’s 5.33 million metric tonnes (MMTs), or 39 million barrels, of strategic oil reserves to the brim at an average price of $25 per barrel before international oil prices started heading north, saving about Rs 5,000 crore of public money, two government officials said. Even…

Indian refiners add to concerns over Saudi crude prices

Indian state-controlled refiners have written to Saudi Arabia and other Middle East crude suppliers expressing their concerns over a steep hike in formula prices for July. State-controlled Saudi Aramco set its July official prices (OSPs) for buyers in Asia-Pacific at a four-month high, as part of across-the-board increases that sharply exceeded the expectations of Asian…

China Shuts Down Teapot Refiners To Make Room For New $20 Billion Complex

China’s province of Shandong – home to most of the country’s independent refiners – plans to shut down as much as 500,000 bpd refining capacity at the so-called teapots as it pushes forward with a huge US$20-billion refinery and petrochemical complex in the province, industry officials told Reuters. The province of Shandong has had plans…

Refineries around Asia join Chinese peers in ramping up oil output

SEOUL/BANGKOK/SINGAPORE : Refineries from India to South Korea are expected to increase output from June, joining their Chinese counterparts as the easing of lockdown measures boosts demand for oil products, industry executives said. The average operating rate for refineries in Asia is expected to rise to 75.5% and 82.2% in the third and fourth quarters,…