Singapore's SRC partially shuts refinery for turnaround

Spanish Market: Oil products
22/08/24

Singapore Refining Company (SRC) has partially shut its refinery for a scheduled maintenance in August, market participants said.

SRC, a joint venture between Singapore Petroleum Company (SPC) and Chevron, has shut a crude distillation unit for a scheduled turnaround at its 290,000 b/d Jurong Island refinery. The shutdown will last about one to two months market participants said.

SRC produces oil products ranging from naphtha, reformate, alkylate, gasoline, jet fuel, diesel and low-sulphur fuel oil. The cargoes are typically distributed domestically and exported to markets in Asia-Pacific, according to SRC. Some of SRC's naphtha is also sent via pipeline to Petrochemical Singapore (PCS), according to a 2023 PCS document.

By Aldric Chew

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17/06/25

UN Bonn climate talks delayed by agenda disagreements

Edinburgh, 17 June (Argus) — The start of UN climate talks in Bonn, Germany, has been delayed as a result of agenda disagreements over finance and trade measures. The Bonn technical negotiations — halfway-point talks before the UN Cop 30 conference in Brazil — were scheduled to begin on 16 June, but the plenary was suspended as parties failed to agree on an agenda. The opening meeting is due to restart later today. Bolivia — acting on behalf of the Like-Minded Group of Developing Countries (LMDC) negotiating group — proposed two additional items to the provisional agenda. The LMDC group also includes countries such as China, Saudi Arabia, Cuba and Vietnam. The group's first proposed agenda item seeks to add a line on the implementation of Article 9.1 of the Paris Agreement relating to the provision of climate finance to developing countries from developed nations. The EU opposed the agenda item as proposed by the LMDC, and asked for references to Article 9.2 and 9.3, which relate to the provision of finance by "other parties" and sources of finance. The LMDC rejected this counterproposal. Finance remains a central issue in climate negotiations. At Cop 29 last year, almost 200 countries agreed on a new goal to provide $300bn/yr in climate finance to developing nations by 2035. The Cop 29 finance outcome was significantly lower than the trillions of dollars sought by developing countries, which expressed frustration at the time. But the Cop 29 text also called on "all actors… to enable the scaling up of financing to developing country parties for climate action from all public and private sources to at least $1.3 trillion/yr by 2035". Consultations on a roadmap to achieve that level will take place in Bonn. The second agenda item proposed by the LMDC relates to "promoting international co-operation and addressing the concerns with climate change related trade-restrictive unilateral measures" — namely the EU's carbon border adjustment mechanism (CBAM). The CBAM was a point of contention during the Cop 28 and 29 talks, with countries such as China and Brazil raising concerns about its impact on developing countries. The mechanism aims to create a level playing field by imposing an effective carbon price on imports to the EU in sectors covered by the bloc's emissions trading system (ETS). This is to prevent EU-based firms from moving carbon-intensive production to non-EU jurisdictions with lower carbon costs, and to avoid EU products being replaced by more carbon-intensive imports. The European Commission expects the CBAM, when fully phased in, to capture more than half of the emissions covered by the bloc's ETS. The scheme's full implementation starts on 1 January 2026, but its impact is already starting to be felt . Six emissions-intensive industries are included under CBAM's scope at present — cement, fertilizers, iron and steel, aluminium, electricity and hydrogen. By Caroline Varin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

India's HPCL plans another expansion at Vizag refinery

17/06/25

India's HPCL plans another expansion at Vizag refinery

Mumbai, 17 June (Argus) — Indian state-owned refiner HPCL plans another expansion at its Visakhapatnam (Vizag) refinery, and will raise its capacity to 401,000 b/d in the next five years from the current 301,000 b/d, the refinery's executive director Ramanathan Ramakrishnan said. The refinery underwent an expansion in 2023 when its capacity was raised to 270,000 b/d. Crude processing at the refinery was up by 21pc on the year at 307,000 b/d in the April 2024-March 2025 fiscal year, oil ministry data show. The refinery will be processing more than 321,000 b/d of crude in the 2025-26 fiscal year and 361,000 b/d over the next five years to meet the country's increasing energy demand, Ramakrishnan said on 16 June. Under the expansion plan, the refinery will add a 9mn t crude distillation unit, a 3mn t vacuum gas oil hydrocracker, a 3.55mn t residue upgradation facility, gas turbine generators, two trains of hydrogen, a sulphur recovery unit, an isomerization unit and associated tankages and facilities. HPCL expects to commission the residue upgradation unit at its refinery by July-September 2025. While the refinery does not have a petrochemical complex due to space constraints, HPCL intends to produce specialty chemicals and continue focusing on producing gasoline and diesel. The construction of HPCL's 180,000b/d refinery in Barmer is expected to be completed soon and the plant is expected to take in crude by October. The refinery is a joint venture between HPCL with a 74pc stake and the Rajasthan state government with 26pc. HPCL also has a 190,000 b/d refinery in Mumbai, and a 226,000 b/d refinery in Punjab in a joint venture with Mittal Energy. HPCL's sales of oil products in domestic markets rose by 6pc on the year to 47.29mn t in April 2024-March 2025. By Roshni Devi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Israel’s Haifa refinery shuts after Iran missile strike

17/06/25

Israel’s Haifa refinery shuts after Iran missile strike

London, 17 June (Argus) — Israel's 197,000 b/d Haifa refinery has halted operations after a missile strike by Iran damaged its power supply over the weekend of 14-15 June, operator Bazan said. Bazan had initially continued processing crude after the attack while shutting some secondary units. But it has now shut all units, citing significant damage to the power plant that supplies electricity to the refinery complex. The site also produces petrochemicals. The company said it is working with state utility Israel Electric Corporation to restore power to the site. Israel has no domestic crude production, leaving Bazan reliant on imports to supply the refinery. The country's only other refinery is in Ashdod, with a capacity of 84,000 b/d. Other energy infrastructure targeted since the conflict started late last week includes two key gas treatment facilities and oil storage tanks in Iran. Israel has also taken its Leviathan and Karish gas fields offline as a precaution. By Aydin Calik Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US Senate bill would cut extra subsidy for SAF

16/06/25

US Senate bill would cut extra subsidy for SAF

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Fos-Lavera crude imports at 17-month low in May

16/06/25

Fos-Lavera crude imports at 17-month low in May

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