Sinopec Is to Cut Q2 Crude Processing by 1.5mln Tons

Sinopec is to cut Q2 crude processing by 1.5mln tons. Meanwhile, Sinopec Shanghai has announced that its main refining unit will resume production within two days following yesterday's announcement of a fire.

A damaged topping unit at Argentina's largest refinery complex could take between 30 and 45 days to restart , following last week's fire at the YPF-run unit.

Eni says its oil production activities in Iran could lead to sanctions by the US. Co. says it does not believe its activities are sanctionable but notes it has no formal assurances from the U.S. State Department.

Vedanta says FY oil and gas output rose 19%, driven by a 32% growth of production in Rajasthan.