Greece is hopeful it has hydrocarbon reserves in the west of the country to cover its energy consumption for a decade, Energy Minister Kostas Skrekas said.
Refiner Phillips 66 said it plans to return up to $12 B more to shareholders by end-2024 through dividends and stock buybacks, sending its shares up as much as 3%.
India's annual petrochemical consumption could nearly triple to 80 MMt by 2040 forcing the country to either raise imports or invest into building new facilities, said an executive at the nation's top refiner Indian Oil Corp.
Results for the Venezuelan-owned company and other U.S. refiners have touch records this year as prices for motor fuels climbed sharply on the U.S. economic recovery and on global shortages caused by Russia's invasion of Ukraine.
Vietnam's largest refinery will import 2.52 MMt of crude oil in the fourth quarter to boost operations, state oil firm PetroVietnam said, as authorities try to avert a fuel supply crunch.
Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December.
China's refined oil product exports in November are set to hit the highest since April 2020 as refiners ramp up output to multi-month highs to boost diesel supply and profit, offsetting the impact of slower domestic demand from COVID-19 restrictions.
Chevron said fire crews responded to an isolated fire inside its 269,000-barrel-per-day El Segundo refinery in California on Tuesday, with no injuries due to the incident.
South Korean petrochemical operator LG Chem may extend maintenance at its naphtha cracker for a month into December, a company official said on Wednesday, to deal with unattractive cracking margins.
Refiner Phillips 66 said on Wednesday, it plans to reduce its employee headcount by 1,100 to help cut costs and meet its savings target of $500 MM by end-2022.