These trends prompted the Trade Ministry to introduce new efficiency regulations for refiners
back in 2009, which resulted in the shutdown of five refineries .
The official said Iran has so far sold 2 million barrels of its crude oil to such refiners
despite hardships of dealing with them.
The new machine is the fourth Papillon refiner
installed in the Sofidel Group.
But Essar Oil and other refiners
want to pay Iran at the exchange rate prevalent at the time of buying crude oil in the last three years.
has become the first independent Chinese refiner
to trade Oman Crude oil futures on the Dubai Mercantile Exchange, the leading east of Suez energy exchange.
Japan's largest oil refiner
and seller, will take over smaller rival TonenGeneral Sekiyu KK, through a (http://www.
Early last month, the Indian government sent a letter to the refiners
who have bought Iranian oil suggesting they start buying foreign exchange now and not wait until they all have to buy billions in a short period.
South Korean refiners
could also take a hit on lower values for more than 52 million barrels of oil products that state-run Korea National Oil Corp says they held at the end of last month.
The tax break will stay in place until refiners
have recovered the cost of the upgrades.
In contrast to Asia's higher oil costs, the discount to refiners
in Northwest Europe was widened to $1.
and oil importers are required to buy certain amounts of fuel made from plants every year under a 2005 law designed to reduce U.
We made some exceptions for the benefit of the NOC, but not a big quantity," the NOC source said, adding the lion's share of Libya's crude oil would be exported to refiners