Refining

Even if a deal is struck, Rystad Energy cautions that the consequences for physical oil markets will be slower and more conditional than futures prices are currently pricing in.

Process Consulting Services, Inc. (PCS) has been selected to provide crude and vacuum unit designs for the newly announced America First Refining (AFR) Project in Brownsville, Texas, the first grass-roots refinery built in the US in over 50 years.

Between the week ending March 20 and the week ending April 24, the US DOE released a total of 17.5 million bbl of crude oil from the US Strategic Petroleum Reserve, according to the EIA.

The UAE's withdrawal from OPEC, effective 1 May 2026, represents the most significant fracture in the organisation's 66-year history and increases the risk of oversupply weakening prices, according to Wood Mackenzie.

Clariant, a sustainability-focused specialty chemical company, has announced the launch of CATOFIN 1000, its propane dehydrogenation catalyst.

Emerson has announced the successful deployment of an AI-driven optimisation solution for Aramco, with the integration of Emerson’s Aspen Hybrid Models™ into Aramco’s existing refinery planning framework.

The UAE has announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1 May 2026.

Phillips 66 Limited has announced that it has completed the acquisition of the assets and associated infrastructure of Prax Lindsey Oil Refinery Ltd, UK.

The Dated Brent spot price increased to a premium of more than US$25/bbl compared with the front-month Brent futures contract in early April, the US EIA has reported.

KBR has announced a strategic investment in UK-based Applied Computing, marking a significant step forward in KBR’s AI driven growth strategy. As part of the investment, KBR has also secured a board position in the company.

Lummus Technology and ART-Envi Services have announced a partnership to offer a fully enclosed alternative that helps reduce emissions, improve safety, and support more sustainable refinery operations.

The Crisafulli Government, Australia, is strengthening Queensland’s fuel security with a AUS$25 million investment, and streamlined approvals, to develop renewable diesel at Ampol’s Lytton refinery.

Sulzer has signed a long-term corporate procurement agreement (CPA) with Aramco for the supply of centrifugal pumps, spare parts, and aftermarket services across Aramco’s global operations.

H2SITE has signed an agreement with Petronor to advance high-purity hydrogen production in refining through advanced membrane technology.

Phillips 66 and Kinder Morgan Inc. have announced the advancement of the Western Gateway Pipeline, a proposed refined products pipeline system, following a successful second open season.