Economics
ExxonMobil sells interest in Esso Thailand
ExxonMobil has reached an agreement with Bangchak Corporation to sell its interest in Esso Thailand that includes the Sriracha Refinery, select distribution terminals, and a network of Esso-branded retail stations.
Crude oil prices forecast to decline beginning in the second half of 2023
In the EIA's January 2023 Short-Term Energy Outlook, it was forecast the Brent crude oil price (the global benchmark) will rise from an average $81 per barrel (b) in December 2022 to average $83/b in the first quarter of 2023.
PetroVietnam 2022 crude oil output flat at 10.84 MMt
PetroVietnam reported crude oil output of 10.84 MMt in 2022, flat from a year earlier and 24% above its official target, Vietnam's Ministry of Industry and Trade said.
Trafigura sells out of Russia-backed Indian refiner Nayara Energy
Trafigura has sold its 24.5% stake in Russia-backed Indian refiner Nayara Energy to a Rome-based energy investment group, following on from a deal on Monday where a group of firms backed by the commodity trading company agreed to buy Lukoil's Italian refinery.
China issues second set of 2023 oil import quotas, up from 2022
According to the document from the Ministry of Commerce, 44 companies, mostly independent refiners, were given 111.82 MMt in import quotas in this round.
Russia's Lukoil agrees to sell Italian refinery to consortium
Russia's Lukoil has sold its Italian refinery to a consortium of Western private equity and trading firms in the first major asset sale since Moscow's invasion of Ukraine, the companies said on Monday.
Venezuela's oil exports slipped despite big assist from Iran
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.
Venezuela's lack of dredging causes trouble for Chevron's heavy oil exports
A shipping channel snafu is slowing Chevron Corp's efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States.
Vietnam's largest refinery output to fall 20%-25% due to unit shutdown
The Ministry of Industry and Trade has asked fuel traders to increase their imports to compensate for the shortfall "to ensure sufficient fuels for the local market until the end of the first quarter," the government said.
Crude oil prices increased in first-half 2022 and declined in second-half 2022
In the first half of 2022, geopolitical tension with Russia, culminating with Russia’s full-scale invasion of Ukraine on February 24, contributed to crude oil price increases.
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- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- Indian refiners' October crude processing up over 3% y/y 11/25
- Air Liquide strengthens partnership with TotalEnergies through renewable H2 project in France 11/25
- Hexagon collaborates with Microsoft to enhance industrial operations 11/25
