Crude oil
Karbala oil refinery to start production before year end
Production at Iraq's Karbala oil refinery south of Baghdad will begin by the end of the year.
The downstream rundown: In case you missed it 7/15
In case you missed any downstream news, here are the top stories from last week.
Oil settles lower ahead of potential large U.S. rate hike
Oil prices settled lower but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Online Exclusive: Overhead automation and analytics lead to improved optimization of production and reliability
The efficient operation of crude oil distillation units (CDUs) improves profits and distillate yield while optimizing production costs and reliability. Simultaneously, it is possible to reduce caustic use, positively impacting downstream sodium impact resulting in increased fluidized catalytic cracking (FCC) catalyst costs, coker furnace fouling and other issues.
IEA chief says price cap on Russian oil should include refined products
Prices of refined products, such as gasoline and diesel, have soared even more than crude oil in the wake of the loss of Russian supply, because of a global refinery capacity crunch following the closure of several plants around the world.
Shell wants to share more of its blockbuster profits, CEO says
Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy.
U.S. refiners step up imports of gasoline-friendly West African crude
U.S. refiners last quarter imported West African oil at the highest rate in nearly three years, customs data showed, buying the gasoline-friendly crudes as they boosted motor fuel production to meet summer driving demand.
Venezuela's refining arm Citgo on the verge of yet another power shake-up
A new battle for control of Citgo Petroleum, the eighth largest U.S. oil refiner and Venezuela's foreign crown jewel, could soon be unleashed under a proposed management shake-up by the South American country's opposition lawmakers.
Advanced Petrochemical to invest $1.6 B in three Saudi plants
Advanced Petrochemical Company, based in Saudi Arabia, said that one of its subsidiary, Advanced Polyolefins Industry Company has signed several agreements worth $1.6 B to fund the construction of plants at Jubail Industrial City II.
UK to examine petrol and diesel market in depth
Britain launched an in-depth study of the gasoline market to investigate a widening gap between crude oil and fuel prices, as well as the difference between pump prices in rural and urban areas.
- 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
