Americas
U.S. begins buying back oil for strategic reserve
The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 MM barrel release from the stockpile.
Mexican airline Volaris exploring sustainable fuel options
Mexican low-cost carrier Volaris is exploring options to obtain sustainable aviation fuel (SAF), including a potential deal in the United States, the airline's top executive said in an interview following the company's investor day.
Chevron unlikely to invest more in Venezuela in short term, says CEO
Chevron Corp is unlikely to add investment in Venezuela in the next six months despite a recent U.S. license to allow it to expand its operations in the South American country, Chief Executive Michael Wirth said.
Flexibility in catalyst technology for improved bottoms upgrading
Bottoms product from fluidized catalytic cracking (FCC) is typically one of the least valuable products from a refinery.
Industry Perspectives: Despite reaching $180 B, new project announcements are down year-over-year
Over the past year, the Global Energy Infrastructure database has tracked more than $180 B in new project announcements.
Solving maldistribution: Catalyst loading and why it matters
Are your reactor yields lower than forecast? Does your fixed-bed catalytic reactor suffer from hotspots?
United Airlines invests millions into proposed Oregon biofuel refinery
United Airlines will add $37.5 MM into a proposed biofuel refinery in northwest Oregon, per a report by OPB.
Refiner Phillips 66 to boost investor returns by up to $12 B
Refiner Phillips 66 said it plans to return up to $12 B more to shareholders by end-2024 through dividends and stock buybacks, sending its shares up as much as 3%.
Fire breaks out at Chevron's El Segundo, California refinery
Chevron said fire crews responded to an isolated fire inside its 269,000-barrel-per-day El Segundo refinery in California on Tuesday, with no injuries due to the incident.
Phillips 66 plans to lay off 1,100 workers by end-2022
Refiner Phillips 66 said on Wednesday, it plans to reduce its employee headcount by 1,100 to help cut costs and meet its savings target of $500 MM by end-2022.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
