Economics
Diesel consumption falls in China due to reduced economic activity and fuel substitution
The U.S. EIA estimates that diesel consumption in China totaled 3.9 MMbpd in June 2024, a decline of 11% from the same month last year and the largest year-over-year decline in consumption for any month since July 2021.
Singapore's middle distillates stocks edge up for third week to > 12 MMbbl
Singapore's middle distillates stock levels edged up for a third straight week, hitting above the 12-MMbbl mark, as the decline in jet fuel/kerosene net exports offset gains in diesel/gasoil net exports.
Yokogawa launches OpreX Open Automation SI Kit and OpreX OPC UA Management package for open process automation systems
Yokogawa Electric Corporation announced that it has developed the OpreX™ Open Automation SI Kit and the OpreX OPC UA Management Package, both of which will play important roles in the implementation of Open Process Automation™ (OPA) systems.
Slowing global jet fuel consumption adds to oil demand concern
Global jet fuel demand is poised to soften as a slowdown in consumer spending hits travel budgets, a shift that could weigh on oil prices in the months ahead.
U.S. refiners scale back crude intake as fuel stocks swell
U.S. petroleum refiners have trimmed crude processing rates in response to a rise in fuel inventories and a decline in refining margins since the start of 2Q 2024.
Singapore's middle distillates stocks rise to 3-yr high
Singapore's middle distillates stocks climbed for a second week to hit a 3-yr high of nearly 12 MMbbls, as a drop in diesel/gasoil net exports countered gains in jet fuel/kerosene net exports.
Aramco to buy stake in JV Petro Rabigh from Sumitomo Chem
Saudi Aramco will buy from Japan's Sumitomo Chemical a 22.5% stake in their petrochemical JV Petro Rabigh for $702 MM, as part of a turnaround plan for the loss-making venture. Under the deal, Aramco and Sumitomo Chemical will each provide $702 MM in funding to Petro Rabigh and waive loans worth a total $1.5 B.
Digital Feature: U.S. EPA’s new Chemical Accident Prevention rule takes effect: What to know
On March 11, 2024, the U.S. Environmental Protection Agency published a final rule amending its Risk Management Program regulations. Here is what facility owners need to know about this new regulation.
Canada's Suncor Q2 report shows increased refinery throughput and refined product sales
So far Suncor is tracking above the high end of its forecasts for 2024 oil production, refining throughout and refined product sales, Kruger told analysts on an earnings call.
Canada's Suncor on track to exceed 2024 oil production, refinery guidance
Canada's Suncor Energy could exceed its 2024 guidance on oil production and refinery throughput.
- Emerson to join the Margo initiative, an open-standard pathway to optimize edge applications 9/16
- India monsoon rains dent state retailers' diesel sales 9/16
- Haffner Energy creates investment opportunity in SAF market with SAF Zero spin-off 9/16
- Russia's oil refining capacity seen rising in 2nd half of September, data shows 9/16
- Germany to increase Kazakh crude oil imports, won't circumvent Russia sanctions 9/16
- Nigeria's NNPC raises petrol prices again as Dangote fuel hits market 9/16
