Americas
Refinery capacity increased slightly for the first time since the COVID-19 pandemic
U.S. refining capacity increased slightly for the first time since the COVID-19 pandemic, as of January 1, 2023, reversing two years of decline, according to our annual Refinery Capacity Report.
Gevo signs master services agreement with Mcdermott for sustainable aviation fuel facilities
Gevo, Inc. announced it entered into a Master Services Agreement with a subsidiary of McDermott International, Ltd to provide front end engineering and early planning services for Gevo’s development of multiple sustainable aviation fuel facilities in North America.
Braskem expands its biopolymer production by 30% following an investment of $87 MM
Braskem concluded a 30% increase in production capacity of its bio-based ethylene plant, located in the Petrochemical Complex of Triunfo, Rio Grande do Sul, Brazil.
U.S. distillate stocks fail to make summer recovery amid refinery outages
U.S. diesel, heating oil and jet fuel stockpiles have failed to recover from the 10-year lows hit last year when high prices caused the Biden administration to consider a ban on fuel exports, leaving the markets vulnerable to supply shocks when demand picks up toward the end of the summer.
Investment will further advance commercialization of renewable hydrogen and SAF from biomass and waste
RockCreek announced the closing of an investment in Raven SR, Inc., a company that produces high-value renewable transportation fuels from a variety of feedstocks, including waste streams, using a proprietary non-combustion process.
Bumpy road ahead for U.S. gasoline demand and energy transition
While U.S. gasoline demand is unlikely to rescale the pre-pandemic peaks of 2018 as the energy transition accelerates, the pace of its decline is uncertain, illustrating the challenge for industry and the government in planning the shift to a low-carbon economy.
U.S. to spend $700 MM for oil and gas sector to cut methane emissions
The U.S. government will provide up to $700 MM in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies said.
U.S. fuel maker profits to fall from last year's records
U.S. refining profits are expected to fall from last year's records but remain strong as domestic refining outages and increased foreign competition pose challenges.
Canada releases framework to phase out inefficient fossil fuel subsidies
Canada released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalize and phase out government support for the sector.
G20 bloc fails to reach agreement on cutting fossil fuels
The Group of 20 (G20) major economies meeting in India failed to reach consensus on phasing down fossil fuels following objections by some producer nations.
- Neste to supply SAF to Air New Zealand marking the airline’s largest purchase of SAF to date 12/19
- BASF and research partners collaborate to optimize mechanical recycling of plastics 12/19
- thyssenkrupp nucera partners with Chlorum Solutions USA for chlor-alkali plant in the U.S. 12/19
- NextChem awarded licensing contract for 60,000-tpy SAF plant in Indonesia 12/19
- Emirates Biotech selects Sulzer Technology to build polylactic acid production facility 12/18
- Bureau Veritas, Samsung Heavy Industries partner to develop CCS solutions 12/18
