Hassan Khosrojerdi, The head of Iran’s Oil, Gas and Petrochemical Products Exporters Union unveiled on Sunday Iran’s intentions to construct six oil refineries in Indonesia.
The refineries include a heavy oil refinery (150,000 bpd) and five other smaller refineries with production capacities of around 30-50,000 bpd of gas condensates according to the NIOC. Total refining capacity wiill be around 300,000 barrels per day and will be fed by Iranian crude oil.
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The US said Russia and Ukraine have agreed to a ceasefire in the Black Sea and to work out mechanisms for implementing their ban on strikes against energy infrastructure.
CK Hutchison Holdings Ltd. warned of a deteriorating global business environment due to geopolitical and trade tensions, as the Hong Kong conglomerate reported weaker-than-expected profit while a ports sale plan faces uncertainty after infuriating Beijing.
The U.S. hit targets across Yemen in airstrikes overnight, including Saada province, which Yemeni sources say is a long-time hideout for Iran-aligned Houthi leaders, and the Red Sea port city of Hodeidah.
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