Oil & Gas Refining

International stocks were under pressure on Friday ahead of a U.S. jobs report later on that could worsen or reduce the selloff in the global bond market, while the pound headed for a 4th day-to-day drop, after British debt yields soared to 16year highs. Volatility was more subdued in early European trading as traders stayed with their positions ahead of the upcoming employment information after this week's revolutions across markets. European stocks left to a limp start, with the STOXX 600 mildly in unfavorable territory, as gains in telecoms and raw materials offset losses in more defensive sectors, such as...

Government bonds stayed under pressure on Thursday and the dollar held steady near its highest levels in more than a year as European stocks reversed early losses. The pound headed for its biggest three-day drop in almost two years, under pressure from a selloff in global bonds that has hit gilts especially hard, driving yields to 16-1/2- year. highs, as issue installs about Britain's finances. Sterling was last down 0.5% at $1.230, having. touched its least expensive considering that November 2023 earlier in the day. Issue about increasing inflation, lowered possibilities of a drop in. rate of interest, unpredictability over...

Japan's 7 & & i Holdings, operator of the 7Eleven convenience store chain, reported on Thursday a drop of 24% in quarterly operating revenue, missing out on analysts' price quotes. Profit was up to 128 billion yen ($ 809.41 million) in the duration from September to November versus 169 billion in the matching duration a year earlier. The outcomes compared to a typical earnings estimate of 138 billion yen from seven experts polled by LSEG. The poor showing contributes to pressure on the vast seller to show it can improve business worth as it fends off a. proposed $47-billion buyout...

Exxon Mobil shares fell almost 2% in early trading on Wednesday after the top U.S. oil manufacturer warned of a decrease in refining profits in the fourth quarter and weak returns throughout its operations. The earnings photo from the industry bellwether signified a difficult environment as business face pricing pressure in the middle of demand volatility. Exxon expects fourth-quarter profits to be lower by about $ 1.75 billion from the previous quarter. For much of last year, Exxon and other oil majors dealt with lowered profitability from refining petroleum and selling petroleum items as a post-pandemic boom in demand ended....

Japanese economy minister Ryosei Akazawa said on Wednesday he believed a possible foreign acquisition of retail giant Seven & & i was a matter heavily related to national security. The owner of 7-Eleven corner store has actually rejected a $47. billion buyout deal from Canada's Alimentation Couche-Tard. and the seller's founding family is in talks to take. the company personal to fend off the takeover. Discussing a prospective acquisition of 7 & & i, I. believe the matter is greatly related to (national) security,. Akazawa said at a press conference hosted by the Japan National. Press Club. Akazawa said convenience...

California Guv Gavin Newsom on Friday released an executive order intending to crack down on ultraprocessed foods consisting of packaged treats and sugary drinks, and even more investigate the health impacts of synthetic food dyes. The order directs checking out the use of public funds from California's hospitals and Medi-Cal Managed Care program to improve local access to fresh, healthy food and advance public health. WHY IT IS ESSENTIAL The order points out a new 2025 Dietary Standards Advisory Committee report suggesting that 73% of U.S. grownups aged 20 and older are obese or overweight, and 38% of children and...

Staterun Indian refiner Bharat Petroleum Corp is purchasing Middle Eastern crude to offset less supply of cheaper Russian oil, its head of finance Vetsa Ramakrishna Gupta stated in a recent interview. Indian state refiners, which generally buy Russian oil in the spot market instead of under long-lasting contract, are unable to acquire about 8 million to 10 million barrels of crude for January loading that they have actually formerly seen offered in the market, sources stated previously this month. India became a leading purchaser of Russian seaborne oil after the European Union shunned purchases and enforced sanctions on Moscow following...

India's benchmark indexes fell on Tuesday, dragged down by financials and Dependence Industries, while investors braced for the Federal Reserve's monetary policy meeting that will shed more light on the central bank's future rate cut course. The NSE Nifty 50 was down 0.8% at 24,470.1 points as of 11:17 a.m. IST, while the BSE Sensex fell 0.83% to 81,075.43. Eleven of the 13 major sectors traded lower. HDFC Bank, the heaviest stock on the Nifty 50, dropped 1% after it received a caution letter from the marketplaces regulator declaring its disclosures regarding the resignation of a senior worker were non-compliant...

A U.S. judge managing an auction of shares in the parent of Venezuelaowned Citgo Petroleum on Monday agreed to reopen a data room to permit prospective purchasers to prepare brand-new quotes, a court file showed. Judge Leonard Stark ordered the information space to be opened on Wednesday after listening to creditors in the event urge a brand-new bidding round. The court is auctioning shares in Citgo moms and dad PDV Holding to pay back $21 billion in claims versus Venezuela and state oil company PDVSA for expropriations and debt defaults. A conditional deal of as much as $7.3 billion by...

The U.S. Energy Department on Monday said it has settled a $9.63 billion loan to a joint venture of Ford Motor and South Korean battery maker SK On to help finance construction of 3 new battery manufacturing plants in Tennessee and Kentucky. The affordable federal government loan for the Blue Oval SK joint venture is the largest ever from the government's Advanced Innovation Cars Manufacturing loan program. SK On is the battery system of energy group SK Innovation. The amount is greater than the $9.2 billion conditional commitment announced in June 2023 and comes simply weeks before President-elect Donald Trump...

The U.S. Supreme Court agreed on Friday to hear a bid by fuel producers to challenge California's. requirements for car emissions and electrical cars under a. federal air contamination law in a major case checking the. Democraticgoverned state's power to combat greenhouse gases. The justices used up an appeal by a Valero Energy. subsidiary and fuel market groups of a lower court's rejection. of their obstacle to a decision by Democratic President Joe. Biden's administration allow California to set its own. policies. The disagreement fixates an exception approved to California in. 2022 by the U.S. Environmental Protection Agency to nationwide....

3 of Canada's most significant oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on durable need for Canadian crude to U.S. and worldwide markets. Fuel need in the United States, the most significant location for Canadian crude, is expected to rise next year as U.S. industrial activity is most likely to get an increase from a cut in interest rate, according to the U.S. Energy Info Administration. Calgary, Alberta-based Suncor forecast 2025 production to be in between 810,000 and 840,000 barrels per day (bpd) next year, a. 4.4% increase at midpoint...

Apollo Global Management is thinking about investing as much as 1.5 trillion yen ($ 9.5 billion) in a management buyout of Japan's. 7 & & i Holdings, Bloomberg News said on Friday,. pointing out several individuals with understanding of the matter. Under the plan, 7 & & i's founding household will invest 500. billion yen in equity, trading company Itochu Corp will. invest over 1 trillion yen in equity, and Apollo as much as 1.5. trillion yen in preferred shares, according to the Bloomberg. report. Apollo did not right away react to an ask for comment. In an interview with...

Saudi Arabia's crude oil supply to China is set to decrease in February from the month in the past, trade sources said on Thursday, after the kingdom treked its prices and as OPEC+ prolonged production cuts in the very first quarter. State oil firm Saudi Aramco will deliver about 43.5 million barrels to China in February, a tally of allocations to Chinese refiners revealed, down from January's 46 million barrels, a three-month high. China's state majors CNOOC and PetroChina and personal refiner Hengli Petrochemical will be lifting less unrefined in February, while Saudi Aramco will increase its supply to Sinopec...

Singapore's jet fuel imports most likely struck multiyear highs in December, with India the leading supplier as the arbitrage to Europe stayed shut, according to trade sources and shiptracking information. Singapore's jet fuel imports are closely followed by markets as the city state is a major trading and storage center for refined fuel in Asia. The strong supply to Singapore and expectations of higher exports from China after its refiners got their first batch of the 2025 export quota recently, could weigh on Asia's spot jet fuel costs, stated the sources, who all wanted not to be recognized. Singapore's jet...

Singapore's jet fuel imports most likely hit multiyear highs in December last year, with India being the top supplier as the arbitrage to Europe stayed shut, trade sources and shiptracking data show. Jet fuel imports into the small city state are closely followed by markets, as it is a major trading and storage hub for refined fuel in Asia. The strong supply to Singapore and expectations of greater exports from China after its refiners received recently their first batch of the 2025 export quota, might weigh on Asia's spot jet fuel prices, included the sources, who all sought anonymity. Singapore's...

Staterun Sinochem Group has actually gotten a petroleum import quota of 17.12 million metric heaps for 2025, which will be for the group's eastern China refineries, a company authorities said on Tuesday. The issue, which equates to 342,400 barrels daily, is part of the broad 2025 quotas allocated to the country's independent refiners. Traders said the quota suggests Sinochem's 3 Shandong province refineries, stated insolvent and with operations shut in, might resume operations. Weaker fuel need has deteriorated margins for refiners who are processing less crude than the year before. Reuters reported last month that Sinochem might keep the refineries...

China has actually issued at least 152.49 million metric lots of crude oil import quotas to independent refiners in a second batch for 2025 so far, numerous trade sources said on Monday. These quotas are being issued in batches by provinces this year and follow a recent small batch of 5.84 million loads that was provided in November, the sources said. This brings the total volume provided for 2025 so far to 158.33 million heaps (3.17 million barrels daily) versus a. overall of 179.01 million tons for 2024. Beijing manages unrefined imports by independent refiners under. a stiff quota system....

Personal equity companies KKR and Bain Capital each offered more than $5 billion in firstround bids for the noncore properties of Japan's 7 & & i. Holdings, according to individuals acquainted with the matter. KKR offered around 800 billion yen ($ 5.1 billion) for York. Holdings, an entity due to be spun out of the Japanese merchant,. two of the people stated. Rival U.S. company Bain offered around 1.2. trillion yen, a single person stated. Local buyout company Japan. Industrial Partners provided around 750 billion yen, one stated. All three firms achieved success in the preliminary of bids. for the...

Personal equity firms including KKR and Bain Capital offered from around 750 billion yen ($ 4.8 billion) to around 1.2 trillion yen ($ 7.6 billion) in a. preliminary of bidding for the noncore possessions of Japan's Seven. & & i Holdings, according to individuals familiar with the. matter. KKR provided around 800 billion yen, individuals said. Rival. U.S. company Bain used around 1.2 trillion yen, one of the. individuals said. Regional buyout company Japan Industrial Partners provided. around 750 billion yen, one of the people said. All three firms succeeded in the first round of bids. for the supermarket assets...

China's improved oil usage peaked in 2023 at 399 million metric loads (7.98. million barrels each day) and is anticipated to fall 1.3% to 394. million loads in 2024, CNPC Economics & & Innovation Research study. Institute said on Friday. As an outcome, petroleum imports are anticipated to fall to 544. million lots this year, according to a presentation by the. research study arm of China's biggest oil manufacturer, although the. world's top importer still represents a quarter of worldwide. imports. CNPC's forecast highlights expectations that China's crude. oil imports are on track to peak next year as transport fuel....

Saudi Arabia's petroleum supply to China is set to rebound to a threemonth high in January, trade sources stated on Thursday, thanks to price cuts by the world's leading exporter amid unpredictability over Iranian supplies. State oil firm Saudi Aramco will deliver about 46 million barrels in January to China, a tally of allowances to Chinese refiners revealed, the highest volume considering that October and up from December's 36.5 million barrels. China's state majors Sinopec, PetroChina will be lifting more Saudi crude in January, and non-state owned refiners Rongsheng Petrochemical and Shenghong Petrochemical will likewise increase lifting, the sources stated,...

China's gas exports are anticipated to have actually rebounded in November after refiners rushed to protect higher earnings before changes to export tax refunds worked this month, analysts and traders said. The increase could reduce China's high products stocks and offer short support to Chinese refiners that have actually dealt with thin margins as demand at the world's No. 2 consumer of the product barely grew this year. China's exports of gasoline, diesel and jet fuel are approximated to rise to 2.74 million metric heaps in November, with Singapore the greatest destination for the first 2 fuels, according to shiptracking...

China's crude oil imports are set to rebound in November after sharp price cuts increased demand for Iraqi and Saudi oil, offsetting a drop in Iranian supply, according to experts, traders and shiptracking data. A downturn of 17% in global oil rates in the 3rd quarter likewise stimulated Chinese stockpiling demand while refiners prepare for greater seasonal fuel usage ahead of the Lunar New Year vacation looking in late January, analysts say. The November rebound in volumes for the world's leading crude oil importer comes after 6 successive months of yearly declines as Chinese refiners dealt with weak margins and...