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 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 has suspended gasoline production following an internal electrical failure, four sources with knowledge of the situation said.
bp Plc restarted the largest crude distillation unit (CDU) over the weekend at its 435,000 bpd Whiting, Indiana, refinery.
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.
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.
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 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's oil exports are unaffected by the current political turmoil in the country.
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.