Indian Oil Corp., the nation’s biggest refiner, will raise spending 23 percent to boost capacity even as it borrows more to cover losses from selling fuels below the cost of crude oil. For full story, click here
Articles Tagged "capacity"
BP PLC declared oil output in non-OPEC nations like Mexico suffered its biggest dip in 16 years in 2008 despite those countries spending huge sums of money in recent years to fatten up their pumping capacity. For full story, click here
Japan may be forced to shut more than a fifth of its refining capacity, at least 1 million barrels per day, in the next five years as oil demand slipped faster than expected. For full story, click here
A fire is burning out on Monday at a Sunoco Inc. oil refinery on the Pennsylvania-Delaware border, but any immediate shortfall to gasoline and diesel output is expected to be mitigated by idle processing capacity. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Asia’s top refiner, Sinopec reported that it is considering adding four large commercial storage facilities capable of holding a total of 8 million tonnes of refined oil products, to boost its supply capacity. For full story, click here
Japanese oil refiners led by Nippon Oil Corp. plan to close down more capacity during the peak spring maintenance season in 2009, lowering demand for crude oil imports from the world’s third-biggest user. For full story, click here
Reliance Industries is set to double its capacity by starting up its new 580,000 barrels per day plant (bpd) this weekend, creating the world’s biggest refinery just as global oil demand collapses. For full story, click here
Safety-Kleen, Inc., announced a significant expansion of its East Chicago oil re-refinery. The company recognises the increasing need for recycling valuable resources and extending the life of oil products. Safety-Kleen CEO and President Frederick J. Florjancic, Jr, said: Recycling is at the heart of America’s green movement, and Safety-Kleen is a leader in this field, [...]