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Recovering profit margins may prompt complex refiners to maximise yields of transport fuels, causing excess naphtha output as a byproduct in a tepid petrochemical market and further depressing feedstock margins. Mandell expects margins to continue to perform well throughout the year heading into higher-demand crop planting season and into winter in the United States. "The healthy margins reflect the bull market for diesel combined with still strong gasoline cracks even if gasoline did weaken sharply on week. U.S. oil companies said during recent second quarter earnings presentations that strong global demand for fuels and low product inventories are driving robust profits. "Global capacity additions continue to progress slower than anticipated, and we believe that global demand growth will remain strong," Hennigan added.

Persons: Brian M, Mandell, Eugene Lindell, bullish HSFO, FGE's Lindell, Lindell, ENEOS, Phillips, Michael J, Hennigan, Mohi Narayan, Laura Sanicola, Ahmad Ghaddar, Jeslyn Lerh, Tony Munroe, Muralikumar Organizations: NEW, Phillips, Saudi, Reuters, Petronas, Hyundai, India's Reliance Industries, Oil, Marathon Petroleum, Marathon, Thomson Locations: NEW DELHI, WASHINGTON, Latin America, Asia, United States, Europe, Singapore, Malaysia, South Korea, U.S, New Delhi, Washington, London

☆ Explainer: Europe set to import banned Russian diesel without knowing
▼ + stars: | 2022-12-07 | by ( Rowena Edwards | ) www.reuters.com time to read: +6 min

The European Union banned Russian crude imports from Dec. 5 and will ban Russian oil products from Feb. 5, as it attempts to deprive Russia of oil revenues. Blending Russian diesel elsewhere with a non-Russian equivalent would not change its origin, while refining Russian Urals crude into diesel elsewhere would. Russian diesel is likely to be delivered to and re-exported from countries such as India and Turkey, market sources said. Europe has already started to replace Russian diesel imports with refined product from the Middle East, but analysts also expect India to refine more Urals and increase diesel exports to Europe. Many of the larger oil companies, including BP (BP.L) and Shell have self-imposed sanctions on Russian oil and oil products.

LONDON, Nov 21 (Reuters) - European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited. The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. Part of the influx comes as ICE Futures Europe bans low-sulphur gasoil of Russian origin ahead of EU sanctions. Russian gasoil can still arrive in ARA storage tanks in December, but it must be moved to other tanks from which no delivery can be made, according to ICE. In January 2022, 70,000 tonnes of gasoil were delivered through the Ice gasoil futures exchange's website shows.

☆ Europe is loading up on Russian diesel 3 months before an import ban kicks in on refined fuels
▼ + stars: | 2022-11-21 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Europe is scrambling to secure Russian diesel three months before an import ban kicks in. Russian diesel loadings to a European refining hub soared 126% between the first half of November and October, per Reuters. An EU embargo on refined Russian oil products like diesel will take effect in February. Russian diesel loadings headed for the Amsterdam-Rotterdam-Antwerp (ARA) oil refining hub rose to 215,000 barrels per day from November 1 to November 12. Europe has been racing to fill up on refined Russian oil products ahead of a European Union embargo set to take hold in February – a penalty in response to Russia's invasion of Ukraine.

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