Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65% of their actual cost during the 2016/17 fiscal year.
Flint Hills Resources will begin construction on a $20 M expansion of its Waupun, Wisconsin fuel terminal.
Asia refining margins fell despite strong regional demand.
Demand for refined oil products is expected to continue growing in Africa, both in the short and medium terms. However, the continent’s refining capacity is unlikely to keep pace as commercial risks threaten to hold back planned new refineries and the expansion of existing facilities.
US refinery utilization rates have increased in some areas following the peak of maintenance season.
The Asia-Pacific region dominates in the total number of active projects in all sectors of the downstream hydrocarbon processing industry. Just as China has seen unprecedented growth over the past decade, India is emerging as the globe’s new oil demand center.
According to Hydrocarbon Processing’s Construction Boxscore Database, there were nearly 90 new project announcements from January 2015 to June 2015.
China is reforming its refining sector by liberalizing import and export restrictions on crude oil and petroleum products, allowing for increased competition in the domestic transportation fuels market.
Pilot plant designed to develop advanced hydrocracking catalysts that can more efficiently produce higher yields of clean-burning diesel fuel from crude oil.
ExxonMobil Corp. plans to add 10 Mbpd of diesel and jet fuel production capacity at its refinery in Melbourne, Australia.