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Indonesia Bets Big on Oil With $12.5 Billion Refinery Gamble

OilPrice

billion refinery project, aiming to cut imports, boost energy security, and flex some refining muscle. The government announced plans for the 531,500-barrel-per-day facility, making it one of the largest in the regionbecause when youre an economy growing as fast as Indonesias, relying on imports just isnt cutting it anymore.

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Indonesia Doubles Capacity of New Refinery Projects to 1 Million Bpd

OilPrice

Indonesia is doubling to 1 million barrels per day (bpd) the planned capacity of the new refineries it will build in an effort to boost its energy security and downstream industry.

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U.S. crude oil inventories decrease by 5.7 million barrels

Oil & Gas 360º

million barrels from the previous week. million barrels, U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending March 7, 2025, which was 321 thousand barrels per day less than the previous weeks average. crude oil refinery inputs averaged 15.7 million barrels per day.

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U.S. crude oil inventories increase by 3.6 million barrels

Oil & Gas 360º

million barrels from the previous week. million barrels, U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending February 28, 2025, which was 346 thousand barrels per day less than the previous weeks average. Refineries operated at 85.9% million barrels per day.

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China’s Oil Imports Could Rise as Newest Refinery Begins Trial Runs

OilPrice

Shandong Yulong Petrochemical, the newest refiner in China, is set to begin trial runs at a 200,000-barrels per day crude processing unit later this month, traders familiar with the facilitys plans told Reuters on Monday, in what could be a boost to Chinese crude oil imports in the coming months.

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Weak refinery, export demand weakens prices for Midland crude along Texas coast

Oil & Gas 360º

(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. That compared to an average of 50 cents a barrel a year ago, when record crude production at the top U.S.

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Nigeria Boosts Oil Production Above Its OPEC+ Quota

OilPrice

Higher exports and increased demand from the huge new African refinery, Dangote, pushed Nigerias oil production in February 70,000 barrels per day (bpd) above its OPEC+ quota of 1.5 million bpd, a Reuters survey showed. Last month, Nigerian production exceeded its quota in the OPEC+ agreement by the most among all participants.

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