Singapore base oil producer raises prices further

Market: Oil products
12/03/21

A Singapore-based base oil producer is raising its ex-tank Singapore prices for all of its grades. The price increase is its fifth this year and second this month.

The producer is raising its ex-tank Singapore price for Group I SN 150 by $40/t. It is raising its price for SN 500 by $80/t and its bright stock price by $190/t. The producer is also raising its Group II N150 price by $40/t and its price for N500 by $80/t. The new prices are effective 16 March.

The producer's bright stock premium to SN 500 will rise to $215/t, the widest since August 2016. Its bright stock premium to SN 150 will rise to $750/t, the widest level in more than a decade.

The producer's SN 500 premium to SN 150 will rise to $535/t, also its widest level in more than a decade.

Its Group II N500 discount to Group I SN 500 will stay at $235/t, the widest discount in more than a decade. The producer's Group II N500 premium to N150 will rise to $235/t, also the widest in more than a decade.

The price trends reflect the continuing strength of supply-demand fundamentals for heavy-grade base oils relative to light grades in Asia-Pacific.

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29/04/25

Spanish refineries, petchems restart after power outage

Madrid, 29 April (Argus) — Spanish oil companies Repsol and Moeve are restarting refineries and petrochemical plants after they were halted by a massive power cut across Spain and Portugal yesterday, 28 April. Power has returned to Repsol's five Spanish refineries, which have a combined 890,000 b/d of capacity, and its two petrochemicals plants in Tarragona and Puertollano, as well as Moeve's 464,000 b/d of refining capacity and two petrochemicals plants in southern Spain. Facilities are "restarting progressively" after power was restored from late on 28 April, according to the companies. They declined to say when they expect production to return to levels prior to the outages. A momentary and as-yet-unexplained drop in power supply on the Spanish electricity grid of over 10GW at around 12.30 CET (10:30 GMT) caused power cuts across most of Spain and Portugal yesterday, shutting down industrial complexes . The outage followed a localised and unexplained loss of power in Cartagena southern Spain on 22 April which shut down Repsol's 220,000 refinery for several days, the company confirmed. Portugal's Galp has not yet responded to requests for confirmation that its 226,000 b/d Sines refinery in southern Portugal halted yesterday, although one worker at the facility confirmed to Argus that the refinery is restarting now after a "total shutdown" following the power cut. BP said operations at its 108,000 b/d Castellon refinery in eastern Spain "have not been affected by the power outage" but the facility did "activate an emergency response plan" and is working "closely with local authorities to manage the situation." Spain's dominant oil product pipeline and storage operator Exolum, whose facilities connect refineries and ports, and deliver to service stations, said its infrastructure is working "normally" today after yesterday's disruption, adding that it managed to supply essential services and airports with fuel throughout the blackout. Repsol's 220,000 b/d Bilbao refinery, which has limited hydrocracking capacity and no major petrochemicals units, took just two days to return to prior production levels after a power outage caused a total shutdown in 2016. Any recovery to normal functioning of a plant could take longer depending on the configuration of a particular refinery, whether any damage to units occurred and whether any petrochemical units were affected. Airport operations Aena — the firm that operates 48 Spanish airports — said that all airports in its network had fully resumed operations as of Tuesday morning. Airlines including Iberia, AirEuropa and Easyjet expect all flights to operate as scheduled today. The power outage halted operations at airports in Spain, Portugal, Morocco and southern France. Morocco's National Airports Office (Onda) announced that check-in and boarding procedures have been fully restored at all airports in the country. Around 500 flights were cancelled in Spain and Portugal, according to data from aviation analytics firm Cirium, after deducting double-counted flights between the two countries. Lisbon airport was the worst hit, with 45pc of departures cancelled, as well as about 30pc of departures at Seville airport. Around 50 flights each were grounded at Madrid and Barcelona airports — Spain's busiest. By Jonathan Gleave and Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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UK's Grangemouth refinery stops processing crude

29/04/25

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29/04/25

UK's Grangemouth refinery stops processing crude

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Power outage hits Spanish refineries: Update 2

28/04/25

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28/04/25

Power outage hits Spanish refineries: Update 2

Adds details on flight cancellations London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries, chemical plants and airports in Spain and Portugal today. All five of Repsol's Spanish refineries have been forced to shut, a union representative for the company's workers said. This includes the 220,000 b/d Bilbao refinery, which is operated by Repsol's Petronor subsidiary. Crews are in place, securing units at the refineries. "There is sufficient autonomy in all of them to guarantee the safety of the facilities," the union representative said. Repsol has yet to respond to a request for comment. Fellow Spanish refiner Moeve said it also has halted activity at its refining and chemical plants in the country and is using back-up power generators "to guarantee the safety and control of the system". Moeve operates the 244,000 b/d Algeciras and 220,000 b/d Huelva refineries. Its 250,000 t/yr San Roque base oils plant is also shutting down. Chemicals firm Dow said all plants at its Tarragona industrial complex in Spain have been closed. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2- to 3-day restart period. It is unclear yet whether any plants have sustained damage. Airports in both countries have also been affected, with 29pc of flights cancelled at Lisbon, according to data from analytics firm Cirium. A total of 96 flights from Portuguese airports have been cancelled today, according to Cirium, while 45 have been cancelled in Spain. Spanish transmission system operator Red Electrica and relevant government bodies are investigating the cause of the blackout. Red Electrica said power has been restored "at substations in several areas in the north, south and west of the peninsula, and consumers in these areas are beginning to be supplied". By George Maher-Bonnett, Isabella Reimi, Alex Sands and Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Power outage hits Spanish refineries: Update

28/04/25

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28/04/25

Power outage hits Spanish refineries: Update

Adds new details throughout London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries and chemical plants in Spain today. All five of Repsol's refineries have been forced to shut, a union representative for the company's workers said. This includes the 220,000 Bilbao refinery which is operated by Repsol's Petronor subsidiary. Crews are in place, securing units at the refineries. "There is sufficient autonomy in all of them to guarantee the safety of the facilities," the union representative said. Repsol has yet to respond to a request for comment. Fellow Spanish refiner Moeve said it has also halted activity at its refining and chemical plants in the country and is using back-up power generators "to guarantee the safety and control of the system". Moeve operates the 244,000 b/d Algeciras and 220,000 b/d Huelva refineries. Its 250,000 t/yr San Roque base oils plant is also shutting down. Chemicals firm Dow said all plants at its Tarragona industrial complex in Spain have been closed. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2-3 day restart period. It is unclear yet if any plants have sustained damage. Spanish transmission system operator (TSO) Red Electrica and relevant government bodies are investigating the cause of the blackout. Red Electrica said power has been restored "at substations in several areas in the north, south and west of the peninsula, and consumers in these areas are beginning to be supplied". By George Maher-Bonnett, Isabella Reimi, Alex Sands and Monicca Egoy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Power outage hits Spanish refineries

28/04/25

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28/04/25

Power outage hits Spanish refineries

London, 28 April (Argus) — A massive power cut across the Iberian peninsula has disrupted operations at several refineries in Spain today, sources told Argus. Spanish firm Repsol's Petronor subsidiary halted all units at its 220,000 Bilbao refinery earlier because of the power cut, with black smoke released as part of the security stoppage, market participants said. Shutdowns are also under way at Moeve's 250,000 t/yr San Roque base oils plant and at Repsol's 135,000 b/d La Coruna refinery, sources said. Flaring has been seen at Repsol's 180,000 b/d Tarragona refinery as a result of a response system being activated at the site, according to petrochemical sources. Moeve and Repsol have yet to respond to a request for comment. "The refineries need to be brought to a safe state," a trade union representative for Repsol workers said. "The crews are in place, securing the units. There is sufficient autonomy in all of them to guarantee the safety of the facilities." Chemical sites will also be affected by the power outage. The longer the power outage lasts, the longer it will take to restart integrated sites. Refineries affected by power outages normally require a 2-3 day restart period. It is unclear yet if any plants have sustained damage. By George Maher-Bonnett, Isabella Reimi and Alex Sands Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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