Refining

Rosneft is set to supply 100 million t of oil to CNPC, which will be processed at factories in northwest China to meet the country's needs for petroleum products.

TotalEnergies is expanding in Mozambique with the acquisition of BP’s retail network, wholesale fuel business and logistics assets.

Omniflex has delivered a new remotely monitored and controlled ICCP system to support Engen’s storage facility upgrade and sustainability drive.

In its January Short-Term Energy Outlook, the EIA forecasts that OPEC petroleum production will increase by nearly 2.7 million bpd in 2022 – the largest y/y increase in OPEC production since 2004.

Maire Tecnimont S.p.A.’s subsidiaries have signed an EPC contract with Rosneft for the implementation of a VGO Hydrocracking Complex at RORC’s production site in Russia.

SOCAR has signed licensing and design agreements with Axens for an FCC unit to be used at the Heydar Aliyev Oil Refinery as part of the refinery’s modernisation and reconstruction project.

After declining in 2020, the combined production of US fossil fuels (including natural gas, crude oil and coal) increased by 2% in 2021 to 77.14 quadrillion Btu.

Shell has completed the sale of its interest in the Deer Park Refining Ltd partnership, a JV between Shell Oil Co. and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Pemex).

In 2021, Petrobras beat its record investment in preventative maintenance at its refineries, with a spend of R$2.3 billion.

Neste has been included in the Corporate Knights 2022 Global 100 Index of the most sustainable companies in the world for the 16th consecutive time.

Twin Brothers Marine has signed a teaming agreement with integrated solutions provider, Quality Companies.

Lummus Technology has been awarded a contract from LUKOIL Permnefteorgsintez for a new integrated MTBE and alkylation plant at its refinery in Perm, Russia.

Indaba Renewable Fuels will build two greenfield refineries in the US to produce sustainable aviation fuel (SAF) utilising Topsoe’s technology.

Honeywell has been selected by Repsol to supply an integrated control and safety system (ICSS) for the first advanced biofuels production plant to be built in Spain.

Persistent withdrawals from global oil inventories have led to increases in crude oil prices, but the EIA forecasts that global oil markets will begin to balance through 2023, leading to a drop in prices.