China offers refineries bonus to export surplus diesel

China's Sinopec is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut.

Oil & Gas

MOL boosts downstream business despite oil price decline

A global decline in the oil price since last year may have hindered upstream business in regions such as the UKCS. But for Hungary's MOL Group, the lower oil price has prompted an unexpected boost in its downstream operations. David Pullan, group downstream development senior vice president for the company, told delegates at the Central Eastern Europe and Turkey Refinery Summit in Budapest his side of the business had seen "very good" results. In the third part of our week long series from MOL's headquarters in Hungary, we look to its successes in its downstream business.