Technip Energies wins contract with Neste for renewable products refinery expansion in Rotterdam

Technip Energies has been awarded a significant contract by Neste for the expansion of their renewable products production capacity in Rotterdam, the Netherlands, as part of the existing Partnership Agreement between Technip Energies and Neste.

Pemex to upgrade its six refineries after completing 340,000 bpd new plant construction

Octavio Romero, director of Mexican state oil Pemex, said the company will work in the second half of Mexican President Andres Manuel Lopez Obrad´s term on improving its six refineries after completing during the first half of the six-year period the construction of a new 340,000 barrels-per-day (bpd) refinery with a $10-B investment.

Iran boosts crude supply to Venezuela for refining, freeing up exportable oil

Iran is increasing supplies of a key crude grade that Venezuela is using to boost its aging refineries' productivity and free domestic oil for exports.

Petrobras set to cut gasoline prices Wednesday

Brazil's Petrobras will reduce gasoline prices at its refineries by about 5% on Wednesday, the state-run oil company said in a statement, its first price cut since late 2021, making analysts review projections for the country's inflation.

U.S. crude stockpiles dip, gasoline builds as demand slackens

U.S. crude oil stockpiles edged lower last week but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration said.

Saudi minister sees lack of refining capacity in market, not lack of oil

Saudi Arabia's foreign minister said that he saw no shortage of oil in the market, but a lack of oil refining capacity, making it necessary to invest more in capacity to process crude oil into various oil products.

Corpus Christi polymers plant in Texas resumes construction

Indorama Ventures announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year.

Karbala oil refinery to start production before year end

Production at Iraq's Karbala oil refinery south of Baghdad will begin by the end of the year.

Oil settles lower ahead of potential large U.S. rate hike

Oil prices settled lower but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.

Green Fuels for Denmark receives IPCEI status

The funding will help enable the consortium behind Green Fuels for Denmark to develop the first phases of the project as part of the industrialization of renewable hydrogen and green fuels needed to compete with fossil-based alternatives.