Refining

Shell slashes gas intake at Dutch, German refineries

Shell has slashed its use of gas at Europe's largest oil refinery, Rotterdam's 404,000 bpd Pernis site, by 40% and at its German refineries by 70%.

Valero kicks off U.S. refinery results with Q2 profit jump

Valero Energy Corp reported a rise in second-quarter profit on Thursday, boosted by higher demand for fuel and refined products.

Binh Son refinery Q2 net profit soars to $424 MM

Vietnam's Binh Son Refining and Petrochemical recorded net profit of $424 MM in the second quarter, up by nearly six times from a year earlier.

U.S. to sell additional 20 MM barrels of oil from strategic reserve

The United States has already sold 125 MM barrels from the reserve with nearly 70 MM barrels already delivered to purchasers.

Galp posts 90% profit leap on soaring oil prices and refining margin

Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit, citing soaring oil prices and a sharp increase in its refining margin.

Global gasoline cracks collapse, blow to refiners' profits

A sudden crash in global gasoline prices in the past two weeks has dented refiners' profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles.

LyondellBasell helps close the loop on polypropylene by joining NEXTLOOPP initiative

LyondellBasell, one of the largest plastic and chemical companies in the world, has recently joined the initiative that brings more than 40 major industry players together.

Nigeria petrol subsidy seen nearly 70% higher at $16.2 B next year

Nigeria could spend up to 6.72 T naira ($16.2 B) next year if it keeps a fuel subsidy in place, a nearly 70% jump from this year's budget.

U.S. refined coal production and consumption declines with the expiration of a tax credit

Refined coal production in the United States dropped to nearly zero during the first quarter of 2022 as refined coal consumers used their remaining small stockpiles.

Production at Brazil's Petrobras falls; refinery utilization nears 100%

Oil production at Brazil's Petrobras fell in the second quarter as asset divestments and increased work stoppages took their toll, while the company's refinery utilization rate hit a whopping 97%.