Refining

After increasing 68% from January to June, the energy component of the S&P Goldman Sachs Commodity Index ended 2022 10% higher than the first trading day of the year.

The companies are exploring collaboration across refining and petrochemical projects in China and Saudi Arabia.

Methods and alternatives such as carbon capture, hydrogen, renewable power, biofuels, energy storage, and electric vehicles will be adopted by oil and gas companies to mitigate their net emissions, says GlobalData.

API, AMEXHI and IOGP have renewed an MoU, strengthening mutual cooperation to help enhance operational performance across North American natural gas and oil operations.

The modernised Fergana oil refinery has increased its production of gasoline by more than 50%.

The project included modernisation of the CDU-VDU-5 crude distillation unit with a production capacity of 3.5 million tpy, and the solvent extraction unit that has a production capacity of 300 000 tpy.

Technip Energies awarded a proprietary equipment contract by Chevron Phillips Chemical and QatarEnergy for the Golden Triangle Polymers ethane cracker.

LyondellBasell has announced that it will increase its 2030 greenhouse gas emissions reduction target for scope 1 and scope 2 emissions from 30% to 42%, relative to a 2020 baseline.

CITGO Petroleum Corp. has joined the US Environmental Protection Agency's ENERGY STAR programme as an ENERGY STAR Partner.

Rates for petroleum product tankers that carry low-sulfur petroleum products, including refined petroleum products such as motor gasoline, diesel fuel, jet fuel, and naphtha, reached multiyear highs this summer, reports the EIA.

API and the State Enterprise Ukrainian Scientific Center for Standardization, Certification and Quality Problems have signed an MoU on natural gas and oil standards.

Saudi Aramco and Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China.

Phillips 66 plans to invest US$1.1 billion in refining, including US$389 million for reliability, safety and environmental projects.

The Stephens Group has finalised its acquisition of Quality Valve from Pfingsten.

A new report from Wood Mackenzie offers five key developments for the energy sector over the next 12 months.