Refining
U.S. refiners' 2Q profits fall on low margins, soft fuel demand
U.S. oil refiners are expected to report sharply lower 2Q earnings from a year ago after a listless summer driving season that weakened refining margins.
Taiwan's FPCC to restart Mailiao port operations on July 26
Taiwan oil major Formosa Petrochemical Corp. aims to restart operations at its port at the Mailiao refinery on July 26, after shutting down ahead of Typhoon Gaemi's arrival.
Russia: Tuapse oil refinery is still operating after Ukrainian drone strike
Russia's Tuapse oil refinery is still operating, Russian Deputy Prime Minister Alexander Novak said on Tuesday, a day after local authorities reported that the refinery had been damaged in a Ukrainian drone attack.
China's first-half 2024 fuel oil imports slide 11% y/y
China's total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and poor fuel demand.
Mexico's Pemex to cut fuel imports to 20,000 bpd by early next year
Mexican state-owned oil company Pemex will reduce its fuel imports in September to some 52,000 bpd and to 20,000 bpd in the first quarter of 2025 as it ramps up production of its own refined products.
India's Reliance misses profit estimates on weak fuel sales margins
Reliance Industries, India's most valuable company, reported 1Q profit below analysts' estimates on Friday, hurt by lower margins on fuel sales.
Nigeria investigates fuel imports after Dangote Refinery rift with regulator
Nigerian lawmakers have set up a committee to investigate crude shortages to local refineries and the importation of dirty fuels, issues at the heart of a rift between the Dangote Refinery and Nigeria's downstream oil regulator.
Calcasieu Refining shuts Louisiana refinery after chemical overflow
Calcasieu Refining Company has shut down operations at its 135,500-bpd Lake Charles refinery after a chemical overflow caused heavy flaring, according to a local media report on Thursday.
Argentine biofuels chamber calls new U.S. biodiesel duties illegal
The U.S. Commerce Department slapped anti-dumping duties of between 60.44% to 276.65% on biodiesel from Argentina and Indonesia, on top of already steep anti-subsidy duties. The Argentine Chamber of Biofuels said that increased U.S. duties on Argentine biodiesel were "arbitrary and illegal" and would shut Argentina out of the market in the U.S.
Petrobras and Braskem complete tests for renewable content chemical product
Petrobras has successfully finished a series of industrial-scale tests to produce a light hydrocarbon stream (LHR) rich in ethylene, incorporating renewable content. Over the past year, this project, in collaboration with Braskem, has developed a viable renewable raw material for the chemical industry.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
