Refining

Chevron annual profit doubles to record $36.5 B, but misses estimates

Chevron Corp. on Friday posted a record $36.5 B profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.

U.S. Energy Department to allocate $118 MM to biofuels projects

The U.S. Department of Energy (DOE) this week will announce over $100 MM in funding to expand U.S. biofuels production, as the Biden administration works to cut greenhouse gas emissions from transportation and meet climate goals.

Operations at Exxon's Baytown, Texas refinery normal after storms

ExxonMobil Corp said operations at its Baytown, Texas refining and petrochemical complex were normal on Wednesday following severe storms including at least one tornado on Tuesday.

Mexico's newest oil refinery to begin crude processing in July

Mexican state oil company Pemex's newest refinery, which is still under construction in Mexico's southeast, will begin to process crude oil in July 2023.

Indonesia's Pertamina to adjust refinery investment plans amid energy shift

The refinery arm of Indonesian state energy firm Pertamina is redesigning its refinery expansion plans to meet shifting demands from a transition towards renewable energy, its chief executive said on Tuesday.

Technip Energies wins contract to upgrade Aramco’s sulfur recovery facilities at Riyadh Refinery

Technip Energies – as part of its long-term agreement with Aramco – has been awarded a contract to upgrade sulfur recovery facilities at Aramco’s Riyadh Refinery.

Aramco sees increased Chinese demand for fuel

Saudi Arabian state oil producer Aramco sees increased demand for fuel from China and is discussing investments in petrochemicals with Chinese companies.

Saudi Arabia stays top crude supplier to China in 2022, Russian barrels surge

Russia remained China's second-largest source of crude oil in 2022, following repeat top supplier Saudi Arabia, as Chinese refiners snapped up low-cost Russian barrels while Western countries shunned them after the Ukraine crisis.

Japan's Taiyo Oil to shut 2 CDUs at Shikoku refinery in summer for maintenance

Japanese oil refiner Taiyo Oil Co plans to shut two crude distillation units (CDUs) at its 138,000 bpd Shikoku refinery in western Japan in the summer for scheduled maintenance.

Montfort wins bid for Uniper's marine fuels oil refinery in UAE

Montfort has emerged as the top bidder for Uniper Energy's oil refinery in the UAE that produces low-sulfur fuel oil for the shipping industry, multiple sources familiar with the matter said this week.