Refining
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Industry Perspectives
In 1H 2022, new capital projects have declined 19% vs. 1H 2021.
EIA estimates show a decrease in global surplus crude oil production capacity in 2022
The EIA's new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global surplus crude oil production capacity in both OPEC countries and non-OPEC countries.
Exxon profit set to soar again; White House wants more oil
Wall Street analysts sharply increased their ExxonMobil Corp second-quarter profit estimates after the largest U.S. oil producer projected it could almost double its first-quarter earnings.
Oil from U.S. reserves sent overseas as gasoline prices stay high
More than 5 MM barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month.
China port group launches major pipeline in oil hub Shandong
China's Yantai Port Group started on Monday pumping oil into a newly expanded crude oil pipeline that connects the port of Yantai to a group of independent refineries in the country's refining hub Shandong.
India to drop windfall tax if oil prices fall $40 a barrel
India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels.
Production at Venezuela's largest refinery hit by blackout
Production at Venezuela's largest refinery, which can process about 645,000 barrels of oil per day (bpd), was halted late on Saturday by an electrical fault that caused a blackout.
Oriente crude exports suspended, Napo flowing amid force majeure
Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output.
Strike underway at Exxon refinery in France
Workers at Exxon's Esso refinery in Fos-sur-Mer in southern France have gone on strike demanding higher wages.
- 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
