Refining

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

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.

Rob Sumpter, KBR, UK, explores how European refineries can maximise oil and gas assets through master planning amid economic pressure and decline.

Oil and gas companies face heightened capital allocation pressure in 2026, according to Wood Mackenzie's latest corporate outlook.

Severn Group has announced that it has been acquired for US$480 million dollars by Valmet.

UPM has announced the production and commercialisation of industrial sugars at its Leuna biorefinery in Germany for commercial, wood-based chemicals.

Babcock & Wilcox has announced that it has been awarded a $40 million contract to supply advanced low-pressure wet gas scrubbing (WGS) technology for installation at a major petroleum refinery in Canada.

Kelton has announced two new contracts in the Middle East, totalling over US$1.3 million for an initial scope of work.

ExxonMobil, Aramco, and Samref have signed an agreement to evaluate a significant upgrade of the Samref refinery, in Yanbu, Saudi Arabia, and an expansion of the facility into an integrated petrochemical complex.

The US Energy Information Administration has released the December Short-Term Energy Outlook.

Aster is set to expand capacity at the Bukom refinery, Singapore, with US$155 million rejuvenation drive for growth and supply resiliency with key projects planned.

The API has joined organisations representing ethanol producers, oil refiners, fuel marketers, travel plazas, truck stops, and convenience store retailers to express the need for long-term policy certainty across the fuel sector.

Idemitsu Kosan Co. Ltd has partnered with Kanematsu Corp. to become the first Japanese oil refiner to begin supplying bio-blended fuel, a blend of heavy oil and FAME, to ocean-going vessels.