Page 16 - Repi Refining News Today

Most stock markets in the Gulf ended higher on Monday as oil prices hold above $85 a barrel with the Saudi index hitting its highest since November.

Saudi Arabia's stock markets ended higher on Sunday after Friday's rise in oil prices, although the Qatari index extended losses for a second session.

Sales of marine fuel, also known as bunker fuel, recovered at top refuelling hub Singapore in March as vessel calls for bunkering reached more than two-year highs, official data showed Friday.

BP PLC on Thursday said it started oil production at Argos, its first platform launch in the U.S. Gulf of Mexico since 2008 and its fifth operating in the basin.

Vietnam's Binh Son Refining and Petrochemical will delay the maintenance at its refinery until next year, and said it expects profits to drop 88% this year due to rising costs, including higher taxes.

Russia boosted gasoline exports by nearly 50% year-on-year in the first quarter, shipping cargoes directly to Africa as it carved out new trade routes after the European Union sanctioned Russian oil, ship tracking data showed.

Guyana's closely watched auction of 14 offshore oil blocks faces a delay with the South American country pushing back the deadline for oil explorers to submit bids to mid-July.

Benchmark Northwest European diesel refining margins dropped to $17.70 a barrel on Wednesday, their lowest since Feb. 25, 2022, a day after Russia launched its invasion of Ukraine, data showed.

U.S. crude inventories rose unexpectedly last week, the Energy Information Administration said on Wednesday, helped by release of oil from the U.S. government emergency reserve as well as weaker levels of export.

Hungary's foreign minister said on Tuesday that he agreed with Russia that energy giant Gazprom would maintain an option for additional gas shipments to Hungary this year on top of quantities shipped under a long-term deal.