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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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PetroChina to Shut Its Largest Northern Refinery Within Weeks

OilPrice

State-run oil giant PetroChina will shut the last remaining crude processing unit at its biggest refinery in northern China within weeks, industry sources told Reuters on Wednesday. Dalian Petrochemical, PetroChinas 410,000-barrels-per-day refinery in downtown Dalian, north China, has been shutting processing units since the end of 2023.

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Crude Processing At One of Europe’s Top Refineries Goes Offline

OilPrice

BPs refinery in Rotterdam had both its crude units offline on Tuesday morning, Reuters reports, citing energy consultancy Wood Mackenzie. A crude unit with a capacity of 200,000 barrels per day (bpd) went offline early on Tuesday. As a result of the shutdowns, the 400,000-bpd oil refinery in Rotterdam now has both crude units offline.

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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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Iraq Seals Major Oil Deal with Chinese Company

OilPrice

Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily.

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China's Oil Inventories Soar to Highest in Nearly Three Years

OilPrice

Crude oil inventories in China rose to the highest in almost three years in March, suggesting demand growth was lagging behind refinery processing rates, which hit a one-year high last month as Chinese oil processors took advantage of cheap Iranian and Russian crude. Run rates at Chinese refineries during the same month averaged

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U.S. crude oil inventories decrease by 4.3 million barrels

Oil & Gas 360º

million barrels from the previous week. million barrels, U.S. crude oil refinery inputs averaged 17 million barrels per day during the week ending May 30, 2025, which was 670 thousand barrels per day more than the previous weeks average. Refineries operated at 93.4% million barrels per day, 9.6%

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