Downstream news updates

In 2025, the wholesale US natural gas spot price at the national benchmark Henry Hub in Louisiana averaged US$3.52 per million Btu, based on data from LSEG Data, the EIA has reported.

In this exclusive report, Janelle Armstead-English, Seeq, USA, explains how companies in the oil, gas, and petrochemical industries are using AI and advanced analytics to improve operational efficiency.

Haffner Energy and IGNIS P2X have announced that they have begun their bio/e-SAF collaborative project AeroVerde, and their immediate task consists in identifying the project’s first site’s precise location in Spain.

BASF has commissioned the steam cracker at its newly built Verbund site in Zhanjiang in South China as scheduled.

Corteva Inc. and BP have announced the launch of Etlas, their new 50:50 joint venture that will produce oil from crops for use in the production of biofuels.

Borouge Plc has announced the completion of a proof of concept for AI-powered autonomous operations at its Ruwais facility, UAE, delivered in collaboration with Honeywell.

The US retail price for regular grade gasoline averaged US$3.10/gal. in 2025, US$0.21/gal. less than in 2024, which marked the third consecutive year of declining gasoline prices the EIA has reported.

EcoCeres has achieved two major milestones in China – securing a place on the SAF Export ‘White List’ and earning the country’s airworthiness certificate for SAF production.

Hindustan Petroleum Corp. Ltd (HPCL) has commissioned the Residue Upgradation Facility (RUF) at its Visakh Refinery, India.

Technip Energies has been awarded two large contracts by Bharat Petroleum Corp. Ltd (BPCL) for key projects at its Bina refinery in Madhya Pradesh and Mumbai refinery in Maharashtra, India.

PBF Energy Inc. has announced that that rebuild activities at its Martinez, California, US, refinery, following the 1 February 2025 fire, are now expected to progress into February 2026.

L&T’s Hydrocarbon Onshore business vertical (L&T Onshore) has won a major order from Bharat Petroleum Corp. Ltd (BPCL) for a polyethylene swing unit in India.

Woodside and BOTAS have signed a sale and purchase agreement for the long-term supply of LNG.

Eni has transferred the management of its traditional refineries and depots in Europe and the Middle East to a new company: Eni Industrial Evolution S.p.A.

SAMSUNG E&A, a total solutions provider for the global energy industry, has announced that it has broken ground on its Wabash Low-Carbon Ammonia Plant in the US.

The US EIA has reported that crude oil prices generally declined in 2025 with supplies in the global crude oil market exceeding demand.

NEXTCHEM has agreed to acquire 100% of Ballestra Group, composed of Ballestra S.P.A. (Italy), Buss Chemtech Ag (Switzerland), and Ballestra Engineering and Projects Pvt (India).

PETRONAS has entered into a sale and purchase agreement with CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd for the supply of 1 million tpy of LNG.

Phillips 66 has said that key facilities will be integrated into the Humber Refinery rather than restarting standalone refinery operations at the Lindsey site.

Technip Energies has announced the completion of its acquisition of the Advanced Materials & Catalysts (AM&C) business from Ecovyst Inc., a global leader in specialty catalysts and advanced materials.

The Rijeka refinery upgrade project, Croatia, has entered its final phase of implementation as construction works on the key systems of the new processing units have been completed.

Tasnee has announced the planned periodic maintenance shutdown at the Saudi Ethylene and Polyethylene Co. (SEPC), which will coincide with the extended shutdown related to the ethylene cracker expansion project.

NEXTCHEM has inaugurated its new premises at its MyReplast upcycling plant in Bedizzole, Brescia, Italy, during a ceremony attended by local authorities and company top management.

Shaista Mallik, Seeq, explores how modern software tools, such as AI, ML, and advanced analytics, are empowering processors to drive efficiency and profitability throughout their enterprises.