Economics
Chevron's $11.2 B quarterly profit soars past estimates
Chevron reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields.
Valero CEO says U.S. energy secretary told shuttered refineries won't restart
Valero Chief Executive Joe Gorder said this week U.S. Energy Secretary Jennifer Granholm was told at a recent White House meeting with energy executives that refineries shuttered in the last few years won't return production.
Valero kicks off U.S. refiners earnings season with bumper profit
Refiner Valero Energy Corp reported a bumper third-quarter profit that zoomed past Wall Street estimates on Tuesday, as margins were boosted by demand for fuel and refined products.
Potential US refined oil product export ban would challenge already constrained global markets and refining systems
A proposed US refined product export ban would save US consumers at the gasoline pump but pose significant challenges and costs to US and global refining systems, according to a recent analysis from Wood Mackenzie.
ADNOC invites banks to pitch for IPO of logistics unit
State oil firm Abu Dhabi National Oil Company (ADNOC) has invited banks to pitch for roles in an initial public offering of its marine services and logistics unit.
Exxon selling Montana oil refinery to Par Pacific for $310 MM
ExxonMobil Corp agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc for $310 MM.
Vietnam refinery boosts production amid concern on fuel import costs
Vietnam's Binh Son refinery has ramped up its production to meet domestic fuel demand and was operating at 109% of its designed capacity, the government said on Thursday.
ExxonMobil says French refineries could take 2-3 weeks to fully restart
ExxonMobil's 140,000 bpd fos-Sur-Mer and 240,000 bpd Port Jerome-Gravenchon oil refineries in France could take 2-3 weeks to fully restart after shutdowns caused by strikes.
Diesel’s gloomy message for the global economy
Global shortages of middle distillates such as diesel, gas oil and heating oil are intensifying rather than easing – making it more likely a relatively severe slowdown in the business cycle will be necessary to rebalance the market.
French refinery strikes risk spiraling into bigger crisis for Macron
France's refinery strikes are emboldening hardline unions and the political opposition hoping to ignite a broader movement that could threaten President Emmanuel Macron's reform agenda.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
