Singapore's Economic Development Board announced the sustainability goals for Jurong Island in a report released on Nov. 23.

The growing refining capacity for advanced biofuels in China will make the region an important production hub in the future.

The deal shows Vitol, the world's biggest independent oil trader, remains focused on expanding its downstream oil business in key growth markets even while it looks to build up a portfolio of renewable energy projects.

S&P Global Platts will not publish any Americas container shipping, clean and dirty tanker assessments on Nov. 25-26, 2021, due to the US Thanksgiving holiday.

The transaction will "significantly expand" VTTI's position in the port of Fujairah, it said in the statement.

The RLAM sale "is positive, at least for the bunker market," a market source said.

The deal will see Rosneft's capacity grow by around 86,000 b/d to 344,000 b/d.

Lukoil's budget for next year sees oil at $60/b with "fluctuations expected both upwards and downwards".