Nippon Oil Corp. has planned to refine 10 percent more crude for domestic sale in August than July, although this is still nearly a fifth down on the year amid continued poor demand in the world’s No.3 oil consuming nation. For full story, click here
Japan Energy Corp, the nation’s sixth-biggest oil refiner, declared that it plans to cut its crude oil processing volumes for July-September by 9 percent from a year earlier due to slow domestic demand. For full story, click here
Japan Energy Corp, the nation’s sixth-biggest oil refiner, declared that it plans to cut its crude oil processing volumes for July-September by 9 percent from a year earlier due to slow domestic demand. For full story, click here
The government may not raise pump prices of petrol and diesel until the average price of crude oil for domestic consumption breaches the $70-a-barrel mark. Petroleum minister Murli Deora stated: The government is unlikely to raise auto fuel prices immediately. It (rising prices of global crude oil) is certainly a matter of concern, but a [...]
Cosmo Oil Co., the Japanese refiner partly owned by the government of Abu Dhabi declared that it will cut crude oil processing by 6.2 percent in July because of weak domestic demand. For full story, click here
Nippon Oil Corp declared that it was likely to refine around 6 percent less crude oil in May than it did a year earlier, marking a seventh straight month of declines, reflecting slow domestic demand amid the recession. For full story, click here
Nigeria, Africa’s biggest oil producer, will post a wider budget deficit of 3.02 percent of gross domestic product this year as revenue from crude exports dips. Finance Minister Mansur Muhtar stated: The projected deficit is higher than what it has been in recent years. For full story, click here
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