A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban on Russian refined products which is due to come into force early next year.
France's refined products sector is under strain as a result of strike action over pay and unplanned maintenance which have led to more than 40% of its refining capacity being taken offline.
This final installment of the History of the HPI series details major events in the refining and petrochemicals industry over the past 20 yr, including stricter regulations/initiatives to curb carbon emissions, a safer and more environmentally friendly way to produce and handle chemicals, significant capital investments to boost production capacity and digital transformation.
As a shareholder of Novatek, TotalEnergies asked the management of Novatek on August 25 for information on what happens of the gas condensates produced by the Termokarstovoye field in Russia, in order to shed the fullest light on the recent controversy initiated by French daily newspaper, Le Monde.
IAG, parent company of both Aer Lingus and British Airways will purchase a total of 78,400 tons of SAF over seven years, enough to reduce CO2 emissions by up to 248,000 tons (the equivalent of taking over 16,000 cars off the road) across the same time period.
Many global oil traders and banks have stopped dealing with Indian refiner Nayara Energy, a Rosneft affiliate, as they are worried about Western sanctions over Russia's invasion of Ukraine.
Swedish refiner Preem is planning a partial closure of its 228,000 bpd Lysekil oil refinery in Sweden for maintenance in September for around one month, a company spokesperson said.
Venezuela has suspended new crude shipments to Europe under an oil-for-debt deal and has asked Italy's Eni and Spain's Repsol to provide it with fuel in exchange for future cargoes.
In case you missed any downstream news, here are the top stories from last week.
Much like several initiatives passed in the 1970s and 1980s, the 1990s were a decade heavily focused on environmental issues, with many new regulations being enacted to not only mitigate industrial and vehicle emissions but also to advance the production of clean fuels globally.