Saturday 1 November 2014
 
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Refineries

Middle East's mega refineries crank up diesel output just as demand fades

A rapid rise in Middle East refining capacity will create a large glut of diesel as global demand growth for the road fuel weakens, the International Energy Agency said.   In its monthly report, the IEA forecast

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Egypt to invest $14.5bn in oil, petchem sectors

Egypt plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as part of efforts to overcome an energy crisis that has led to near-daily power cuts and hit company prof

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Egypt to invest $14.5bn in petrochemicals, refining

Egypt plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as part of efforts to overcome an energy crisis that has led to near-daily power cuts and hit company prof

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Islamist fighters advance in Syria despite US strikes

US and coalition planes pounded Islamic State positions in Syria again on Wednesday, but the strikes did not halt the fighters' advance in a Kurdish area where fleeing refugees told of villages burnt and captives beheaded. US

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More refinery closures on the cards for 2014: IEA

An increase in new oil refining capacity and a rise in production of fuel not processed at refineries will lead to more plant closures in 2014, the International Energy Agency (IEA) said in its latest monthly report. Crude distill

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Refineries 'under pressure to cut operating costs'

Refineries in the Middle East are under enormous pressure to cut operating costs while maximising throughput and minimising inventories, a key official of a software and services firm said. According to AspenTech senior vice-presi

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Brent below $109 as hurricane shuts refineries

Brent crude oil fell below $109 a barrel on Monday as refineries along the US East Coast wound down operations ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer. The second-larges

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Iraq to privatise refineries to meet fuel demand

Iraq is looking to gradually privatise its oil refineries and to attract investment in new plants around the country to meet the fast rising domestic demand for fuel, its deputy oil minister said on Tuesday. Baghdad, which is boosting its

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Petroplus set to shut down refineries

Embattled oil refiner Petroplus yesterday said it will begin a temporary shutdown of three of its plants in January after lenders froze a $1 billion credit facility. The Swiss firm will suspend operations at its Petit Couronne refinery in

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Egypt to restore free zone status to refineries

Egypt's parliament has agreed to restore free zone status to oil refineries, newspapers reported on Wednesday, potentially removing a hurdle that had deterred foreign investment in the country's energy sector. Egypt's governmen

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