Crude Oil Processing News

Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth. After the first seven months of 2021, China’s crude oil imports are down 5.7% compared with the same period last year. January to July imports stood at 301.9m tons, an 18.1m tons decline from January to July 2020.The June and July decline in crude oil imports is not attributable to unusually low imports as much as to unusually high imports in June and…

Chinese refinery crude oil throughput has reached its highest level ever, with total processed volumes up 12% in the first five months of this year compared to 2020, and up 10.9% from the same period in 2019. In total 292.7m tonnes have been processed so far this year according to the National Bureau of Statistics China.Despite the 12.0% growth in crude oil processing, Chinese crude oil supply, which includes imports and domestic production, has only grown by 2.3% in the first five months of this year.

As crews began returning to U.S. Gulf of Mexico offshore facilities on Thursday, this year's repeated oil and gas production halts were already hitting energy firms' results.Eight named storms entered the U.S. Gulf of Mexico this year, most spiraling up to damaging storms that required offshore facility evacuations or temporary well shutdowns."It has been a difficult and challenging year because of the number of storms," said Erik Milito, president of trade group National Ocean Industries Association. U.S.

China's crude oil imports rebounded in April from a month earlier on daily basis as refiners ramped up output amid a recovery in fuel demand with the impact of the coronavirus outbreak easing while crude prices crashed on slumping consumption elsewhere.Crude oil arrivals were 40.43 million tonnes last month according to a full data table released by the General Administration of Customs on Thursday, equivalent to 9.84 million barrels per day (bpd).That was more than the 9.68 million bpd imported in March…

Achinsk Oil refinery, suspended after the incident of June 15, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities. From the 1st of September the enterprise has commenced production of the main types of oil products: straight-run gasoline, diesel fuel, marine fuel and aviation fuel, as well as WLHF (wide light hydrocarbon fraction). Concurrently with the primary crude processing plant a VT-Bitumen unit, producing petroleum bitumen, resumed to operating. Achinsk refinery is planned to produce more than 400 thousand tons of finished product, which makes more than 70% of prefault performance. The production volume will be increased in months to come.

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from January to June the company achieved operating income of 52.268 billion yuan, an increase of 11.8%; basic earnings per share of 0.279 yuan, up by 6.5%, mainly due to the refining and marketing segment operating income grew. The same period, Sinopec achieved 237.01 million barrels of oil equivalent production, an increase of 8%, of which crude oil production was 177.88 million barrels, an increase of 7.52%, the production of 3,548 one hundred million cubic feet of natural gas, an increase of 9.46%.

Ken Applegate, VP, Transportation Services, Valero shares with readers of MarineLink.com his insights on key market drivers for the coming year. What do you count as the biggest Technical challenge to your company/organization in the coming years? KA:      Valero is very concerned about the deteriorating infrastructure for both waterway and surface transportation in the and we do not see the necessary legislative focus today to address this issue. It will be a tremendous challenge…