Refining

Petrobras CEO resigns amid political blowback on fuel prices

The chief executive of Brazil's state-run oil company Petrobras resigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week.

Pinnacle releases Economics of Reliability Report for the refining Industry

The report, which is the seventh installment of Pinnacle’s Economics of Reliability report series, analyzes the impact that reliability has on the refining industry.

U.S. energy chief to discuss record pump prices with refiners next week

U.S. Energy Secretary Jennifer Granholm is expected to meet with refining executives on June 23 as tensions between the White House and the oil industry mount over soaring gasoline prices.

OMV's Schwechat oil refinery at 20% capacity after accident

OMV's 200,000 bpd Schwechat oil refinery is running at 20% capacity with repairs to fix a crude distillation unit set to take several weeks at least.

Mexico president says new Pemex refinery will reach full capacity in 2023

Mexican President Andres Manuel Lopez Obrador said Wednesday that a new refinery owned by state-run Petroleos Mexicanos (Pemex) will reach full operating capacity by next year, despite industry experts saying it will take until at least 2024.

Biden blasts oil refiners for record high gasoline prices, profits

U.S. President Joe Biden demanded oil refining companies explain why they are not putting more gasoline on the market, sharply escalating his rhetoric against industry as he faces pressure over rising prices.

Japan's Idemitsu to slash refinery capacity due to shrinking oil demand

Idemitsu Kosan plans to cut its capacity by 13% in less than two years as the ageing and shrinking population in Japan and the global shift to greener energy eats into household demand for petroleum.

Buyer interest in Exxon's Montana refinery rises with fuel margins

Record-high refining margins have renewed buyer interest in ExxonMobil Corp’s smallest oil refinery, a 61,500 bpd plant in Billings, Montana.

Repsol will invest over €35 MM to build an XLPE plant to manufacture HV and EHV cables

Repsol will build a new plant in Tarragona, with an investment of over €35 M for the manufacture of Cross-linkable Polyethylene (XLPE), a polymer used in cable insulation, located between the conductor and the outer protective layers.

China May crude oil imports at 45.83 MMt, customs data shows

China's crude oil imports rose nearly 12% in May from a low base in the same month a year earlier, although refiners still battled high inventories with COVID-19 lockdowns and a slowing economy weighing on fuel demand.