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Economics

U.S. oil refiners brace for a tough year as investor sentiment turns negative

Some investors are souring on the U.S. oil refining sector, citing forecasts for softer fuel demand and worries that President-elect Donald Trump may slap tariffs on imports of crude.

U.S. to impose further sanctions on Russian oil fleet and traders

The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday.

Digital Exclusive: Automation and digital technologies' role in the energy transition-A discussion with Yokogawa

Hydrocarbon Processing sat down with Mitsuhiro Yamamoto, Vice President and Executive Officer of the Systems Business Division, Digital Solutions Headquarters, Yokogawa Electric Corporation to discuss the global energy transition, and how digital technologies and automation have and will play a major role in the evolution of the processing industries.

Neste MY Renewable Diesel introduced to the Italian market in collaboration with fuel distributor Firmin

Neste is partnering with the Italian fuel distributor Firmin to make Neste MY Renewable Diesel available for the first time in Italy to contribute to the reduction of greenhouse gas emission in the transport sector.

U.S. DOE and EPA announce $6 MM to support development of advanced biofuels

The U.S. Department of Energy Bioenergy Technologies Office and the U.S. Environmental Protection Agency announced $6 MM in funding for three projects that will advance biofuel development and support U.S. leadership in energy and emissions innovation.

U.S. oil imports from Canada hit record ahead of tariff threat

U.S. crude oil imports from Canada rose last week to the highest on record, ahead of incoming U.S. president Donald Trump's plans to levy a 25% tariff on Canadian imports.

Mitsubishi Chemical abandons 350,000-tpy MMA plant in Louisiana (U.S.)

Mitsubishi Chemical announced that it will not pursue a 350,000-tpy MMA Plant in Geismar, Louisiana" dated December 9, 2020, the Group had been considering the construction of a new Methyl methacrylate monomer plant in Geismar, Louisiana (U.S.), citing a failure to obtain long-term offtake contracts.

Asia's crude oil imports drop in 2024 as weak China weighs

Asia's crude oil imports dropped in 2024, the first annual decline in three years, led by weak demand from heavyweight China and other major buyers, with only India managing sparse growth.

U.S. biofuel producers ramped up in Oct. as profitability improved

U.S. renewable diesel and biodiesel producers ramped up operations in October to multi-month highs, helped by stronger margins for the biofuels, according to data compiled by advisory group AEGIS Hedging.

U.S. plans more sanctions on tankers carrying Russian oil

The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude.