Refining

ExxonMobil has announced that it is evaluating significant capital and operating expense reductions in the near-term due to COVID-19.

The Gazprom Neft Board of Directors has been updated on the implementation of its Omsk catalyst project.

GlobalData has reported that Russia will drive the Former Soviet Union’s refining industry capacity growth by 2024.

The EIA has reported that moves by OPEC to maintain its market share will cause global oil inventory increases and lower prices.

Highlighting strong profits despite a challenging macro environment, Saudi Aramco has released its 2019 financial results.

TechnipFMC has declared that it will delay its separation into two companies due to the COVID-19 coronavirus pandemic and current market conditions.

Rystad Energy has estimated that oil prices could fall to US$20 as OPEC+ is capable of increasing production by 2.5 million bpd.

GlobalData has reported that 4Q19 saw merger and acquisition deals worth US$1.75 billion in the UK.

Maire Tecnimont has announced that its main subsidiaries have been granted contract awards for a total amount of €220 million.

Gazprom Neft has announced that it is installing a new integrated refining process management system at its Omsk Refinery.

GlobalData has reported that Iran is set to lead Middle East new-build refining capacity additions by 2024.

WEKA has fully licensed Toshniwal to produce WEKA magnetic level indicators locally, expanding its Indian presence.

Due to COVID-19, IHS Markit anticipates 1Q20 world oil demand to decline by the largest volume in history.

Sulzer has announced the opening of a new service centre in Riyadh, building on its local pump manufacturing capabilities.

The EIA has reported that less petroleum and other liquids consumed in the US is coming from refineries.