http://www.hydrocarbonprocessing.com Hydrocarbon Processing http://hydrocarbonprocessing.com/news/2024/05/mol-inaugurated-its-13-b-200-000-tpy-polyol-complex-in-tiszaújváros-hungary/ MOL inaugurated its €1.3-B, 200,000-tpy polyol complex in Tiszaújváros, Hungary. http://hydrocarbonprocessing.com/news/2024/05/nextchem-completes-acquisition-of-gascontec-adding-new-low-carbon-hydrogenmethanol-to-portfolio/ Nextchem completed the acquisition of GasConTec, which will add new low-carbon hydrogen/methanol technologies to the company's portfolio. http://hydrocarbonprocessing.com/news/2024/05/gcc-industry-leaders-solidify-commitment-toward-plastic-circularity/ Arabian Gulf industry leaders reaffirmed their commitment to adopting a collaborative approach to develop plastic circularity, invest in Design for Recycling (DfR) and address plastic waste at the 13th annual Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference. http://hydrocarbonprocessing.com/news/2024/05/iran-to-boost-gasoline-diesel-production-as-new-units-go-online/ Jalil Salari, Managing Director, National Iranian Oil Refining and Distribution Company (NIORDC), provided an update on the country's refining units going online this year, which will significantly boost domestic gasoline and diesel production. http://hydrocarbonprocessing.com/news/2024/05/us-renewable-diesel-glut-hits-refiners-margins/ A rush by U.S. fuel makers to recalibrate their plants to produce renewable diesel has created a supply glut for low-emissions biofuels, hammering profit margins for refiners and threatening to impede a young industry. http://hydrocarbonprocessing.com/news/2024/05/kuwait-petroleum-renews-oil-supply-deal-to-unipec/ Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033. http://hydrocarbonprocessing.com/news/2024/05/vertex-energy-pauses-renewable-diesel-output-to-switch-back-to-fossil-fuels-citing-macroeconomic-woes/ U.S. refiner Vertex Energy will pause renewable diesel production at its refinery in Mobile, Alabama, and convert it to produce fossil fuels instead, citing macroeconomic woes which might persist through next year. http://hydrocarbonprocessing.com/news/2024/05/citgo-petroleum-reports-q1-profit-of-410-mm/ Oil refiner Citgo Petroleum reported its first quarter net fell 56% to $410 MM, from $937 MM in the same period a year ago. http://hydrocarbonprocessing.com/news/2024/05/shipping-major-and-gcmd-to-pilot-fame-vlsfo-marine-biofuel-bunker-fuel-in-singapore/ a Japanese shipping major and the Singapore-based Global Centre for Maritime Decarbonization will launch a six-month project for trialing marine biofuel for bunkering, consisting of 24% fatty acid methyl esters (FAME) and very-low-sulfur fuel oil (VLSFO) onboard a short-sea vehicle carrier that will call at multiple ports. http://hydrocarbonprocessing.com/news/2024/05/diesel-profit-margins-decline-amid-lower-demand-more-capacity/ Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.