Oil refinery news

The US Energy Information Administration (EIA) expects U.S. drivers will spend less than 2% of their personal disposable incomes on gasoline in 2025 – the lowest share since 2005, excluding 2020.

Phillips 66 has announced that it has entered into a definitive agreement to acquire the remaining 50% ownership interest in WRB Refining LP from subsidiaries of Cenovus Energy Inc.

Worley has been awarded a contract by Preem for FEED verification for the planned conversion of the ICR plant at the Lysekil refinery in Sweden.

Swift Fuels has announced that it has signed an exclusivity agreement with Diamond, under which Diamond will reserve land on its site while Swift Fuels evaluates the potential construction of a demonstration-scale LG2F™ plant in Louisiana, US.

Aramco, Sinopec, and FPCL have announced the establishment of a new joint venture, Fujian Sinopec Aramco Refining and Petrochemical Co., Ltd, to develop an integrated refining and petrochemical complex in China.

US imports of biodiesel and renewable diesel significantly decreased in the 1H25 compared with the same period in previous years, the US Energy Information Administration (EIA) has reported.

OMV Petrom is expanding its activity in the bitumen field, through two strategic partnerships with Romanian companies, aimed at expanding storage capacity for bitumen and to produce polymer modified bitumen.

The Cabinda Refinery was inaugurated 1 September 2025 by the Angolan President, João Lourenço, and expects to produce fuel by year-end.

On 25 August 2025, the Monday before Labour Day weekend, the retail price of regular gasoline averaged US$3.15/gal. across the US, 5% (or US$0.17 cents/gal.) lower than at the same time in 2024, the EIA has reported.

Borouge is set to collaborate with Yokogawa to conduct a proof-of-concept for AI-powered autonomous control room operations at Borouge’s Ruwais facility in Abu Dhabi, UAE.