Economics
U.S. crude oil and distillate inventories rise, gasoline stockpiles fall
U.S. crude inventories unexpectedly rose as imports increased, while gasoline stockpiles fell last week, the Energy Information Administration said.
Phillips 66's Bayway refinery's gasoline unit at reduced rates after fire
Phillips 66 has reduced gasoline output at its 258,000-bpd Bayway refinery in Linden, New Jersey after a fire near the plant's gasoline producing unit
Citgo Petroleum returned to profit in the second quarter
Venezuela-owned U.S. refiner Citgo Petroleum registered net income of $100 million in the second quarter vs. a $25 million loss in the same quarter last year, finishing the period with liquidity of $2.6 billion.
India's Reliance makes rare fuel oil purchase from HPCL
Reliance Industries has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp. The purchases suggest the operator of the world's largest refining complex is diversifying its fuel oil sources as India comes under heavy pressure from the U.S. over its energy ties with Russia.
L&T Energy GreenTech partners with Japan’s ITOCHU for 300,000-tpy green ammonia project
L&T Energy GreenTech Ltd (LTEG), a wholly-owned subsidiary of Larsen & Toubro (L&T), has entered into a Joint Development Agreement with ITOCHU Corporation of Japan to develop and commercialize a 300,000-tpy green ammonia project at Kandla in Gujarat, India.
VINCI wins major contract for innovative biofuels plant in Spain
Moeve and Apical have awarded Grupo Cobra and Masa - both subsidiaries of Cobra IS – the electrical, piping and industrial mechanical works of the largest second-generation biofuels plant in Spain.
Dangote Refinery cuts fuel price before planned sales to local Nigerian market
The latest price cut from 850 naira, effective from Aug 12, comes as the company targets fuel supply directly to retail stations, manufacturers, telecoms firms, and other large users, to boost supply of its products.
Chevron Phillips Chemical completes low-viscosity PAO expansion in Belgium
Chevron Phillips Chemical has successfully completed the expansion of its low-viscosity polyalphaolefins production unit in Beringen, Belgium, significantly boosting its manufacturing capacity in Europe.
AFPM: U.S. RFS proposal misses the mark on affordability, security by an ‘Iowa mile’
The American Fuel & Petrochemical Manufacturers (AFPM) recently submitted comments on the Environmental Protection Agency’s proposed Renewable Fuel Standard volumes for 2026 and 2027.
Sasol expects profit rebound on higher chemical prices and lower impairments
South African petrochemicals company Sasol expects a rebound in full-year profitability on the back of higher chemicals prices, tighter cost controls and lower asset writedowns, it said.
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