Economics
China 'teapot' refiners halt plants as new fuel tax
Several independent oil refineries in eastern China have halted operations, or plan to do so, for indefinite maintenance periods as new Chinese tariff and tax policies plunge them deeper into losses.
Emerging Fuels Technology awarded technology licensing contract for seawater CO2-to-SAF conversion plant
Emerging Fuels Technology's proprietary technology platform will be used on Sea Dragon Energy's demonstration plant that will convert CO2 extracted from seawater into synthetic jet fuel (sustainable aviation fuel).
Fortescue Energy CEO says green H2 cost is key as demand drops
Replacing fossil fuels with green hydrogen (H2) depends on creating demand by making it price competitive, as buyers are unwilling to pay "green premiums," Fortescue Energy CEO Mark Hutchinson said in Davos at the World Economic Forum.
U.S. crude stockpiles hit near 3-yr low despite softer refinery demand
U.S. crude oil inventories slipped to their lowest level since March 2022 last week, even as refining activity fell sharply, cutting demand for crude.
Australia's Ampol expects lower annual earnings on Lytton refinery snags
Australia's Ampol estimated a steep drop in annual earnings on Thursday as production at its Lytton refinery in Queensland was hit by operational constraints and lower refining margins.
European glut weighs on global gasoline margins
Gasoline stocks in Europe have hit a record high as exports dropped due to higher refinery runs in the U.S. and Nigeria, resulting in gasoline profit margins at European and U.S. oil refineries falling to a 15-month low in January.
India's BPCL sees March Russian oil intake down 20% as it awaits offers
India's state-run refiner Bharat Petroleum Corp. sees its Russian oil processing down to 20% in March from 31% this month as it awaits offers from traders.
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Topsoe to provide technology to Chuangui Lingang New Energy's 300,000-tpy SAF/renewable diesel plant in China
Chuangui New Energy company will use Topsoe’s licensing and engineering design services and technologies, including its HydroFlex® technology, proprietary equipment and catalysts enabling production of SAF and renewable diesel starting from used cooking oil.
South Korea's GS Caltex plans Yeosu refinery maintenance in late February
The maintenance at its 330,000-bpd crude distillation unit is expected to last for around 30 days
- Eckero Line to use Neste renewable diesel for commercial maritime transport 4/24
- Indian Oil plans to operate Gujarat refinery at higher capacity from mid-2026 4/24
- Valero Energy reports first-quarter loss on lower margins, impairment charges 4/24
- California (U.S.) governor drives out refiners then pleads for reliable fuel supplies 4/24
- UK, Eni agree to go ahead with Liverpool Bay carbon capture project 4/24
- GS E&C, Amogy, HD Hyundai Infracore partner with South Korean city to advance ammonia-based power gen 4/24
