Crude oil
Japan's Idemitsu to slash refinery capacity due to shrinking oil demand
Idemitsu Kosan plans to cut its capacity by 13% in less than two years as the ageing and shrinking population in Japan and the global shift to greener energy eats into household demand for petroleum.
Buyer interest in Exxon's Montana refinery rises with fuel margins
Record-high refining margins have renewed buyer interest in ExxonMobil Corp’s smallest oil refinery, a 61,500 bpd plant in Billings, Montana.
Clariant produces first commercial sunliquid cellulosic ethanol at new plant in Podari, Romania
Clariant announced that it has produced the first commercial cellulosic ethanol at its sunliquid production plant in Podari, Romania.
Oil prices slide on Beijing COVID warning, inflation concerns
Oil prices slipped more than $2 on Monday as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand, while worries about global inflation and economic growth further depressed the market.
Biden looking to address oil refinery capacity, White House adviser says
U.S. President Joe Biden is looking at ways to bring in more oil supplies amid rising energy costs, including working to address oil refinery capacity.
Under U.S. sanctions, Iran and Venezuela sign 20-year cooperation plan
Iran and Venezuela, oil producers grappling with crippling U.S. sanctions, signed a 20-year cooperation plan in Tehran, with the Islamic Republic's supreme leader saying the allies would continue to resist pressure from Washington.
Taiwan's CPC buys first crude with carbon offset from SOCAR
Taiwan's state refiner, CPC Corp, said it has received the country's first crude cargo with certified carbon offset from SOCAR Trading, the trading arm of Azerbaijan's state oil company.
The downstream rundown: In case you missed it 6/10
In case you missed any downstream news, this piece will give you a summary of some of the top stories from last week.
Saudi cuts crude supply to some Chinese refiners in July, sources say
Saudi Aramco has notified at least five North Asian refiners, mostly Chinese, that it will be supplying less than contracted volumes of crude oil in July.
China May crude oil imports at 45.83 MMt, customs data shows
China's crude oil imports rose nearly 12% in May from a low base in the same month a year earlier, although refiners still battled high inventories with COVID-19 lockdowns and a slowing economy weighing on fuel demand.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
