Nigeria's Dangote oil refinery has begun producing diesel and aviation fuel, the company said on Saturday, after years of construction delays at the 650,000 barrel per day (bpd) plant.

Chinese top copper smelters on Wednesday came to a rare agreement to jointly embark on production cuts at some loss-making plants as they seek to cope with a shortage of raw material, according to sources with knowledge of the plans.

Wood Mackenzie has said that more than 20% of the world’s oil refining capacity is at risk of closure due to weak refining margins.

Precious metals company MKS PAMP Group, which owns refineries in Switzerland and India, has repurposed an aviation hangar in Florida, taken on lease, for a silver mint in a bet on strong North American investment demand, it said on Thursday.

Russia's oil producers Rosneft and Lukoil will sharply cut oil exports from the Black Sea port of Novorossiisk in July, two sources familiar with a loading plan said, as the companies resumed operations at their refineries.