Crude oil
Mexico's new Pemex refinery still needs important work, is far from ready
Mexican state energy company Pemex is unlikely to produce any commercially viable motor fuels at its new Olmeca refinery before the end of the year, five sources said, despite pressure that it should be ready before the outgoing president's term ends.
Vietnam's Binh Son refinery signs deal to buy Bach Ho crude
Binh Son Refining and Petrochemical has signed a new contact to buy crude oil from Bach Ho field for the 2024–2027 period. The crude oil will be for the operations of its 130,000-bpd Dung Quat refinery in central Vietnam, the company said in a statement.
bp to acquire full ownership of bp Bunge Bioenergia while refocusing plans for new biofuels projects
bp has agreed to acquire Bunge’s 50% holding interest in its bp Bunge Bioenergia S.A. joint venture, one of Brazil’s leading biofuels-producing companies.
Fossil fuel use, emissions hit records in 2023
Global fossil fuel consumption and energy emissions hit all-time highs in 2023, even as fossil fuels' share of the global energy mix decreased slightly on the year, the industry's Statistical Review of World Energy report said.
EIA: U.S. crude and fuel stockpiles fall last week as exports rise
U.S. crude oil, gasoline and distillate inventories fell last week, the U.S. Energy Information Administration (EIA) said on Thursday as crude exports rose.
Phillips 66 refining margins tighten on TMX expansion startup
U.S. refiner Phillips 66 said on Tuesday its margins have tightened after the expanded Trans Mountain pipeline project in Canada started up in May.
Trans Mountain revises heavy crude standards on pipeline after quality concerns
Canadian government-owned oil pipeline operator Trans Mountain last week revised standards for accepting crude oil on its recently expanded system after buyers raised concerns about the crude oil arriving on the line.
U.S. oil refining capacity rises for second year in a row, reaching > 18.3 MMbpd
U.S. crude oil refining capacity rose 1.5% to 18.38 MMbpd this year, a government report showed on Friday as a major new expansion in Texas boosted capacity.
China continues to lift crude oil stockpiling amid weak refinery runs
The world's biggest crude importer has had a soft start to the year. China added more than 1 MMbpd of crude oil to stockpiles in May as soft imports were outweighed by even weaker refinery processing volumes.
Global gasoline refining margins slump on slow summer driving season
Oil refiners are making less money selling their gasoline as demand during the peak summer driving season has fallen short of what they expected when many of them boosted production.
- TA'ZIZ secures $28.5 B in agreements to expand UAE's chemicals infrastructure 5/5
- nova-Institute provides scientific basis for EU policy on bio-based plastic packaging under PPWR 5/5
- GEA launches enzymatically enhanced GEA eTOP degumming solution 5/5
- Hong Kong-Dongguan to build SAF supply chain with new biofuels firm Ecoceres facility 5/5
- Argentine government hikes biofuel prices for domestic market 5/5
- Malaysia to produce biodiesel blend with 15% palm oil from June 5/5
