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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

High-capacity refineries require access to reliable sources of crude oil inputs to maintain higher utilization and to a sufficiently large pool of potential customers to supply. Chinese capacity is scheduled to increase significantly this year because of the start of at least two new refinery projects and a major refinery expansion.

Global 448
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Saudis Expand Price War Downstream

Green Car Congress

With Saudi Arabia's refined fuel contributing to the global supply glut, what will be its impact on the refining markets especially those in Asia? On the other hand, it won’t be easy for Saudi Arabia—Chinese refiners are also producing more gasoline, for which demand is still strong. per barrel while that of Reliance was $8.70

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Russia supplied about 30 percent (146.6 The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oil prices. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects.

Russia 150
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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. Canada, Mexico (foreign investment), and also Russia (Chinese investment), that will have the financial wherewithal to grow output to satisfy the 18 million barrel per day increase in demand that OPEC sees by 2040.