Economics

U.S. tariffs worsen petrochemical sector challenges, executives warn

Mitsubishi Chemical to adopt a "product traceability platform" to build a reliable chemical recycling supply chain

Ukrainian strikes on Russian oil facilities could be a boon for U.S. refiners

Ukrainian attacks have shut down facilities accounting for at least 17% of Russia's oil processing capacity, or 1.1 MMbpd.

Swift Fuels advances light gas (LG2F™) demonstration plant plans in Louisiana (U.S.)

TotalEnergies sees Brent-Dubai crude price gap remaining negative, making sweet grades more attractive to Asian refiners

The price gap between Brent and Dubai crude is expected to remain negative due to strong demand for heavier Middle Eastern oil, despite increasing supplies from OPEC nations

Chevron seeks diversified approach to refinery investments

"There'll be places like Korea where we go investment heavy in petrochemicals and in heavy oil upgrading."

China oil demand to peak in 2027, up 100,000 bpd this year

China's total oil demand including all products is set to peak in 2027, with a rise of about 100,000 bpd this year driven by increased volumes from the petrochemicals sector, a state oil researcher said.

BAPCO expects to commission 400,000-bpd Sitra refinery in Q4

Bahrain's state oil firm Bapco Energies expects to commission its Sitra refinery expansion in the fourth quarter of this year, and will be looking to buy heavier crudes than it now runs and more LNG

Ukraine imports Indian-origin diesel fuel after loss of key refinery

The loss of Ukrainian oil refineries this summer has forced traders to compensate with imports, purchasing diesel fuel even from India, which imports a significant portion of its crude oil from Russia, an analyst said.

U.S. crude stockpiles rise as refineries begin maintenance

U.S. crude oil inventories rose last week as refineries headed into maintenance season, while gasoline stocks fell ahead of the long Labor Day weekend, data from the Energy Information Administration showed.