Fuel markets to stay tight till mid-2020s as refining shrinks

Crude oil refining capacity has shrunk by a record 3.8 MM barrels per day from March 2020 to mid-2022 as demand expanded, setting the stage for fuel markets to remain very tight until at least mid-decade.

Encina to deliver first-ever high purity aromatics made entirely from end-of-life plastics

Encina Development Group, LLC announced the first-ever production of high purity aromatics made entirely from end-of-life mixed plastics. Encina has delivered its high purity monomer chemicals to customers and confirms that ongoing production will continue.

Venezuela's second-largest refinery disrupted by outage

Venezuela's second largest refinery has suspended gasoline production following an internal electrical failure, four sources with knowledge of the situation said.

bp restarted large crude unit at Whiting, Indiana, refinery over weekend

bp Plc restarted the largest crude distillation unit (CDU) over the weekend at its 435,000 bpd Whiting, Indiana, refinery.

India's future crude oil supplies will mostly come from Gulf

India's minister of petroleum and natural gas, Hardeep Singh Puri, said most of his country's crude oil supplies in the near future will come from the Gulf countries, including Saudi Arabia and Iraq, as it seeks a secure and affordable energy base.

Surge in U.S. oil flows to China may curtail Middle East shipments

China's imports of U.S. oil are expected to rise to a 20-month high in September and may increase more in November as refiners take advantage of lower prices amid a surge in U.S. exports from rising output and stockpile releases.

Eight injured in fiery blast at idled Canadian oil refinery

A fire and explosion at an idled oil refinery in Canada's Newfoundland and Labrador province injured eight people before the blaze was contained, Canadian police said.

ExxonMobil to sell its share of Aera Energy joint venture

ExxonMobil affiliates have signed an agreement to sell all of ExxonMobil’s interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV.

Iraq oil exports unaffected by political turmoil

Iraq's oil exports are unaffected by the current political turmoil in the country.

U.S. expected to announce 3 years of biofuel blending mandates in Nov

The Biden administration is expected to announce a rule this year that would detail annual biofuel blending mandates for the refining industry for a three-year period instead of just for one.