Crude oil
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.
Shell slashes gas intake at Dutch, German refineries
Shell has slashed its use of gas at Europe's largest oil refinery, Rotterdam's 404,000 bpd Pernis site, by 40% and at its German refineries by 70%.
U.S. crude stockpiles drop as exports surge to record high
U.S. crude oil stockpiles fell last week, driven by a surge in exports to an all-time high due to the big discount for U.S. crude when compared with international benchmark Brent.
Binh Son refinery Q2 net profit soars to $424 MM
Vietnam's Binh Son Refining and Petrochemical recorded net profit of $424 MM in the second quarter, up by nearly six times from a year earlier.
U.S. to sell additional 20 MM barrels of oil from strategic reserve
The United States has already sold 125 MM barrels from the reserve with nearly 70 MM barrels already delivered to purchasers.
Galp posts 90% profit leap on soaring oil prices and refining margin
Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit, citing soaring oil prices and a sharp increase in its refining margin.
- Ineos to shut polystyrene facility in Illinois (U.S.) by the end of the year 6/19
- How ASTM approval of methanol-to-jet accelerates SAF at scale 6/19
- EU crafts plan to give industries extra free CO2 permits this year 6/19
- PetroChina forecasts Chinese oil consumption will drop 4.9% this year 6/19
- Digital Exclusive: Water injection pump mechanical seals failure after pump shutdown 6/19
- Russian gasoline output down 25% so far in June after drone attacks on refineries 6/19
