Products
U.S. renewable diesel glut hits refiners' margins
A rush by U.S. fuel makers to recalibrate their plants to produce renewable diesel has created a supply glut for low-emissions biofuels, hammering profit margins for refiners and threatening to impede a young industry.
Kuwait Petroleum renews oil supply deal to Unipec
Kuwait Petroleum Corp has renewed its contract to supply 300,000 bpd of crude oil to China's Unipec, the trading arm of Asia's largest refiner Sinopec, until 2033.
Vertex Energy pauses renewable diesel output to switch back to fossil fuels, citing macroeconomic woes
U.S. refiner Vertex Energy will pause renewable diesel production at its refinery in Mobile, Alabama, and convert it to produce fossil fuels instead, citing macroeconomic woes which might persist through next year.
Citgo Petroleum reports Q1 profit of $410 MM
Oil refiner Citgo Petroleum reported its first quarter net fell 56% to $410 MM, from $937 MM in the same period a year ago.
Shipping major and GCMD to pilot FAME-VLSFO marine biofuel bunker fuel in Singapore
a Japanese shipping major and the Singapore-based Global Centre for Maritime Decarbonization will launch a six-month project for trialing marine biofuel for bunkering, consisting of 24% fatty acid methyl esters (FAME) and very-low-sulfur fuel oil (VLSFO) onboard a short-sea vehicle carrier that will call at multiple ports.
Diesel profit margins decline amid lower demand, more capacity
Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.
World Energy and Boston Consulting Group sign agreement on SAF certificates
Boston Consulting Group today announced it has signed an agreement for the purchase of sustainable aviation fuel certificates with World Energy, the sustainable aviation fuel (SAF) producer and low-carbon solutions provider.
BASF invests in capacity expansion of Basoflux® range of paraffin inhibitors in Spain
BASF plans to expand the global production capacity of its Basoflux® range of paraffin inhibitors at its site in Tarragona, Spain.
Shell in talks to sell Malaysia fuel stations to Saudi Aramco
Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, a deal that could be worth up to $1 B.
Shell to exit South Africa's downstream businesses
Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions.
- Colombia's diesel price hike leads to trucker strike and unrest 9/6
- Fire at Moscow refinery will not cause fuel shortages, minister says 9/6
- Russia's Sibur plans domestic bond issue to fund $10-B Amur gas-chemical complex 9/6
- Asia refining margins at lowest seasonal levels since 2020 as supplies grow 9/6
- DNV awards Wallenius Wilhelmsen first B100 verification for biofuel insetting 9/5
- Malaysia launches aviation decarbonization drive targeting net-zero emissions by 2050 9/5
