China's refined oil product exports in November are set to hit the highest since April 2020 as refiners ramp up output to multi-month highs to boost diesel supply and profit, offsetting the impact of slower domestic demand from COVID-19 restrictions.
Chevron said fire crews responded to an isolated fire inside its 269,000-barrel-per-day El Segundo refinery in California on Tuesday, with no injuries due to the incident.
South Korean petrochemical operator LG Chem may extend maintenance at its naphtha cracker for a month into December, a company official said on Wednesday, to deal with unattractive cracking margins.
Refiner Phillips 66 said on Wednesday, it plans to reduce its employee headcount by 1,100 to help cut costs and meet its savings target of $500 MM by end-2022.
Italy's efforts to secure financing to keep an Italian oil refinery owned by Lukoil up and running despite new sanctions on Russia kicking in next month have hit obstacles.
Exxon Mobil said it was dealing with an "operational matter" at its Fawley oil refinery in Britain.
The commercial launch comes after the project started last month to produce and sell primary quantities of fuel oil and supply it to local power stations.
U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters.
Supply at French petrol stations is returning to normal with only one TotalEnergies refinery at Feyzin in Southern France still on strike, Energy Minister Agnes Pannier-Runacher said on Thursday.
The restart of Exxon Mobil's 140,000-bpd Fos-Sur-Mer oil refinery in France should be completed by the end of the week, a company spokesperson told Reuters in an emailed statement on Wednesday.