Crude oil
Third oil storage tank collapses in Cuba terminal following fire, spill
A third crude tank collapsed at Cuba's Matanzas terminal following a spill from a second tank that caught fire on Saturday, in the biggest oil accident in decades in the island.
Idemitsu restarts 150,000-bpd Hokkaido CDU on July 25 after maintenance
Japan's second-biggest oil refiner Idemitsu Kosan Co restarted the 150,000 bpd crude distillation unit at its Hokkaido refinery in northern Japan on July 25 after maintenance.
Binh Son refinery to undergo major maintenance next year
The 130,000 bpd refinery has been in operation for 13 years and its equipment is facing risks of aging and erosion.
India cuts fuel export taxes, hikes tax on local crude
India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil, a government notification said.
Marathon Petroleum posts bumper profit on soaring fuel prices
Marathon Petroleum smashed quarterly profit estimates, the latest U.S. refiner to benefit from a surge in fuel prices sparked by tight capacity and low inventories.
The downstream rundown: In case you missed it 7/29
In case you missed any downstream news, here are the top stories from last week.
Valero to run its 14 refineries at 90%-93% of capacity in Q3
Valero Energy Corp plans to operate its 14 refineries between 90%-93% of their combined total processing capacity in the third quarter.
U.S. majors Exxon, Chevron post blowout earnings, ramp up buybacks
The two largest U.S. oil companies, ExxonMobil and Chevron, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.
Eni confident it will replace Russian gas by 2025
Italian energy group Eni believes it will be able to completely replace Russian gas imports by 2025 as uncertainty over Moscow's energy supplies to Europe forces countries to seek alternative sources.
U.S. fuel demand remains strong, despite recent data
Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
