A proposed EU price cap on Russian diesel may be high enough to allow Moscow to continue exporting the fuel, but in practice could deter big Asian buyers who have become used to buying cheap Russian crude to refine it themselves, analysts say.
The American Petroleum Institute (API) President and CEO Mike Sommers today released a new report and outlined the policies needed to make, move and improve American energy and prioritize U.S. natural gas and oil.
Aluminum producer Alcoa Corp said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supply.
In the first half of 2022, geopolitical tension with Russia, culminating with Russia’s full-scale invasion of Ukraine on February 24, contributed to crude oil price increases.
After increasing 68% from January through June, the energy component of the S&P Goldman Sachs Commodity Index (GSCI) ended the year 10% higher than the first trading day of 2022.
Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec. 5 could hit supplies and choke payment avenues, data obtained from trade sources showed.
The PT Pertamina (Persero) refinery in the Indonesian town of Balikpapan will increase its production of oil derivatives to 360 MMbpd once its upgrading and improvement works are completed during 2024.
Further to its principles of conduct defined for its activities in relation to Russia, published on March 22, 2022, TotalEnergies has gradually started to withdraw from its Russian assets while ensuring that it continues to supply gas to Europe.
Romania's Petrotel Lukoil refinery, owned by Russia's Lukoil has found alternative fuel supplies and its petrol stations will not be affected by a ban on Russian imports, Energy Minister Virgil Popescu said on Monday.
Bottoms product from fluidized catalytic cracking (FCC) is typically one of the least valuable products from a refinery.