Refining
Production at Brazil's Petrobras falls; refinery utilization nears 100%
Oil production at Brazil's Petrobras fell in the second quarter as asset divestments and increased work stoppages took their toll, while the company's refinery utilization rate hit a whopping 97%.
Technip Energies wins contract with Neste for renewable products refinery expansion in Rotterdam
Technip Energies has been awarded a significant contract by Neste for the expansion of their renewable products production capacity in Rotterdam, the Netherlands, as part of the existing Partnership Agreement between Technip Energies and Neste.
Pemex to upgrade its six refineries after completing 340,000 bpd new plant construction
Octavio Romero, director of Mexican state oil Pemex, said the company will work in the second half of Mexican President Andres Manuel Lopez Obrad´s term on improving its six refineries after completing during the first half of the six-year period the construction of a new 340,000 barrels-per-day (bpd) refinery with a $10-B investment.
Iran boosts crude supply to Venezuela for refining, freeing up exportable oil
Iran is increasing supplies of a key crude grade that Venezuela is using to boost its aging refineries' productivity and free domestic oil for exports.
Petrobras set to cut gasoline prices Wednesday
Brazil's Petrobras will reduce gasoline prices at its refineries by about 5% on Wednesday, the state-run oil company said in a statement, its first price cut since late 2021, making analysts review projections for the country's inflation.
U.S. crude stockpiles dip, gasoline builds as demand slackens
U.S. crude oil stockpiles edged lower last week but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration said.
Saudi minister sees lack of refining capacity in market, not lack of oil
Saudi Arabia's foreign minister said that he saw no shortage of oil in the market, but a lack of oil refining capacity, making it necessary to invest more in capacity to process crude oil into various oil products.
Corpus Christi polymers plant in Texas resumes construction
Indorama Ventures announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year.
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.
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.
- 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
