article thumbnail

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.

Refinery 234
article thumbnail

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. refinery utilization stood at 85.6% Gulf Coast pressured that market lower. premium to U.S.

Refinery 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

US Weekly Oil Data

Energy Outlook Advisors

Gasoline inventories are currently at a comfortable level, but refinery maintenance might lead to low levels at the start of summer. We will monitor jet fuel demand, expecting it might decline significantly due to slow economic growth and reduced government travel. There is no bullish case for oil at this stage.

Oil 162
article thumbnail

Sulaymaniya Firm to Build $2bn Kirkuk Refinery

Iraq Business News: Oil & Gas

Kirkuk Governor Ribwar Taha Mustafa has signed a contract for the construction of the Kirkuk Refinery , which has a planned production capacity of 70,000 barrels per day (bpd). The refinery will be built by Sulaymania-based Rania Group , and will reportedly cost around $2 billion.

article thumbnail

Indonesia to Build Refineries with Total Capacity of 1 mmbbl/d

Egypt Oil & Gas

The Minister of Energy of Indonesia Bahlil Lahadalia announced that the country is to build oil refineries on several of its islands, including Kalimantan and Sulawesi, with a total capacity of 1 million barrels per day (mmbbl/d) increasing from 500,000 b/d, Reuters reported.

article thumbnail

Iraq to Expand Maysan Refinery with New 70,000 bpd Unit

Iraq Business News: Oil & Gas

The Iraqi Ministry of Oil has announced plans to expand Maysan [Missan] Refinery by adding a new refining unit with a capacity of 70,000 barrels per day (bpd), increasing the refinery's total output to 110,000 bpd. The Deputy Minister called on refinery staff to ensure efficient operations and uninterrupted fuel supply.

article thumbnail

Increased Consultancy Contract for Basra Refinery Project

Iraq Business News: Oil & Gas

The Iraqi Council of Ministers has approved an increase in the consultancy contract amount for the Basra Refinery Development / Fluid Catalytic Cracking (FCC) Project with Japan's UNICO and France's Technip. The decision also includes an extension of the contract duration, granted as an exception to Government Contracting Instructions No. (2)