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Crude oil

Taiwan's Formosa plans June run cuts due to weak refining margins

Due to weak margins, Taiwan's Formosa Petrochemical Corp plans to cut run rates at its crude distillation units by 40,000 barrels per day (bpd) to 440,000 bpd in June.

Neste completes major turnaround at Porvoo refinery

The nearly 400-MM euro turnaround of Neste’s Porvoo refinery in Finland has been successfully completed, and crude oil processing and renewable and circular raw materials processing has begun operations.

EIA: U.S. crude stocks, gasoline and distillate inventories rise

U.S. crude stocks, gasoline and distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday.

Czech Republic to end Russian oil use in first half of 2025

The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline (TAL).

Goldman Sachs: Global LNG market to grow by 50% by 2029

Growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research.

Venezuela's May oil exports rise 30% during U.S. wind-down period

Venezuela's oil exports recovered in May from a low figure the previous month as state oil company PDVSA's customers rushed to take cargoes ahead of the resumption of U.S. sanctions on the South American country.

EIA: U.S. crude stocks fall, fuel inventories climb as refining picks up

U.S. crude oil inventories decreased while fuel stockpiles rose last week, as refining activity jumped, the U.S. Energy Information Administration (EIA) said on Thursday.

U.S. refiners boosting fuel output past 90% of capacity for summer driving season

U.S. crude oil refiners aim to operate above 90% of their combined processing capacity for the remainder of the quarter after completing planned overhauls.

Topsoe unveils KM 111, an advanced ammonia synthesis catalyst

The KM 111 from Topsoe is an advanced ammonia synthesis catalyst that is redefining industry standards, boasting excellent efficiency and cost-effectiveness. 

Russia's Tuapse oil refinery remains idle after May 17 drone attack

Rosneft's Black Sea oil refinery in Tuapse may remain idle until at least mid-June, despite being repaired after a May 17 drone attack, due to low profitability.