Tag: Oil Refining
China may approve more crude import quotas for teapot refiners
Teapot refiners drove China’s crude imports to an all-time high in the first four months of 2016 By Florence Tan SINGAPORE, June 1 (Reuters) – China could approve more crude import quotas for teapot refiners that will bring the total volume to close to 2 million barrels per day (bpd) by the end of 2016, an […]
US crude stocks fall for first time in six weeks – EIA
US crude stocks fell for the first time since March NEW YORK, May 11 (Reuters) – US crude stockpiles fell unexpectedly last week for the first time since March as imports slipped, US government data showed on Wednesday. Gasoline and distillate inventories also dropped more than expected, as refining rates fell, data from the Energy […]
Marathon Petroleum barely ekes out a profit due to weak crack spreads
Marathon Petroleum shares slumped over 18 per cent in the past year April 28 (Reuters) – Refiner Marathon Petroleum Corp barely eked out a profit in the first quarter, hurt by weak crack spreads – the difference between the prices of crude oil and refined products. Net income attributable to the company slumped to $1 […]
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