Downstream news

Aramco and PETRONAS have announced the signing of an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Co. and Pengerang Petrochemical Co. to PETRONAS.

Loganair and ClimaHtech Green Flight have announced a 15-year sustainable aviation fuel offtake agreement, supporting the long-term decarbonisation of regional aviation in the UK.

Renewables are expected to account for more than 40% of the global power generation by 2030, GlobalData has reported.

Eni has signed three long term agreements with the LNG sellers of South Hub and North Hub gas projects for the purchase of LNG in Indonesia.

Oil prices could reach US$200/bbl in worst-case scenario as more than 11 million bpd of Gulf crude and condensate supply remains curtailed, Wood Mackenzie has reported.

President Luiz Inácio Lula da Silva visited the Paulínia Refinery and announced an investment of R$37 billion in the state of São Paulo for refining, biorefining, E&P, decarbonisation, and sustainable energy generation.

The US EIA has reported that gasoline prices are higher than in February 2026 because of increasing crude oil prices related to the de facto closure of the Strait of Hormuz, at Memorial Day Weekend.

ADNOC has deployed Taurob’s heavy-duty inspector robot at its Taweelah Gas Compression Plant, where it will conduct routine inspections in hazardous environments without putting people at risk.

The American Petroleum Institute has issued the following statement from President and CEO Mike Sommers on the bipartisan passage of the Nationwide Consumer and Fuel Retailer Choice Act (H.R. 1346).

Oil prices above US$100/bbl have triggered windfall tax proposals in Brazil, the EU, the US, and Australia. A new Wood Mackenzie report warns that fiscal policy design has a long-term impact on upstream investment and production.