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Vitol expands refining business with Rotterdam splitter acquisition

Vitol, the world’s largest independent energy trader, said it has agreed to acquire a splitter in Rotterdam from Koch Supply & Trading BV as it moves to expand its refining business.

Bahrain’s refining future

Bahrain’s Minister of Oil Mohamed Bin Khalifa Al-Khalifa spoke exclusively about the Gulf country’s refining strategy that will be a cornerstone of supporting Bahrain’s Vision 2030.

GCC refining ramp up heats up global competition

The GCC countries are in a diversification drive away from crude oil export dependency, but as global capacity also rises, increasing competition means a more uncertain long-term outlook for the region’s refineries, APICORP said in its new energy…

ADNOC to invest in downstream business to meet growing demand

ADNOC said it will make significant investments in new projects to further increase its refining capability and expand its petrochemicals business over the next five years - as part of its recently announced ‘2030 Strategy’.

Korea's Hyundai Engineering signs $3.2bln Iran deal

South Korea’s Hyundai Engineering Company (HEC) has signed a €3 billion (US$3.2 billion) contract with Iran’s Ahdaf Investment Company for construction of the second phase of Kangan Petro Refining facility in Iran’s southwestern Bushehr province.

Saudi Aramco to build refinery, petchem plant in China

Saudi Arabia and China’s state-owned firms Saudi Aramco and China North Industries Group Corp (Norinco) signed a deal for an integrated refining and chemical facility in northeast China, as the former implements it refinery investment strategy to…

Iran and Iraq to advance on pipeline projects

Iran and Iraq’s oil ministers agreed on Sunday to push ahead with a crude pipeline between the two countries for refining, according to the Iranian oil ministry.

South Korea’s SK E&C to renovate Iran refinery for $1.6 bln

South Korea’s SK Engineering & Construction said it signed a contract worth US$1.6 billion with Iran’s Tabriz Oil Refining Company to renovate the Iranian company's refinery facility.

BP Q3 profit halves on weak margins, 2017 spending and investments cut back

British Petroleum (BP) reported a 48 percent drop in third-quarter net profit as lower oil prices and shrinking refining margins took their toll even as the oil giant tightened spending, a trend that will accompany reduced investment plans for next…

Saudi refiner Petro Rabigh names new chief exec

Nasser al-Mahasher was previously chief executive of South Korean refining giant, S-Oil Corporation, with whom Saudi Arabia has a thriving working relationship.