Oil refinery news
ExxonMobil expands chemical production at Baytown
ExxonMobil has announced the startup of two new chemical production units at its Baytown, Texas, US, manufacturing facility.
China imported record volumes of crude oil in 1H23
The EIA has reported that record volumes of crude oil were imported into China during 1H23 because of refinery expansions in the country and initiatives to reopen the economy.
TotalEnergies to drive the decarbonisation of its European refineries
As part of the drive to decarbonise its European refineries, TotalEnergies is launching a call for tenders for the supply of 500 000 tpy of green hydrogen.
EIA expects higher oil prices for 2H23
The US Energy Information Administration (EIA) expects global oil inventories to decline by almost a half million bpd in 2H23.
Neste's total refining margin outlook to improve
While the oil markets have been volatile, Northwest European diesel and gasoline margins have increased to a high level during Q323, improving the total refining margin outlook for Neste’s oil products.
EIA: production cuts drive sour crude price increases
Production cuts among OPEC+ members are limiting availability of medium and heavy sour grades of crude oil and contributing to higher relative prices for these grades, reversing typical price relationships.
EIA: refinery outages amid lower capacity increase US gasoline crack spreads
Unplanned refinery outages and lower gasoline production capacity are increasing the costs of producing summer-grade gasoline in the US.
EIA: refiners in China increase crude oil processing and imports in 1H23
The EIA has reported that refiners in China processed and imported record volumes of crude oil in 1H23, sourcing much of the additional crude oil runs from Russia, Iran, Brazil, and the US.
EIA forecasts crude oil price increase in 2024
The US Energy Information Administration (EIA) has forecast higher oil prices in 2H23, and into 2024.
McDermott awarded contract for the Panipat refinery and petrochemical complex
McDermott has been awarded a project management consultancy contract from IOCL for the maleic anhydride unit at the Panipat refinery and petrochemical complex, located 62 miles from New Delhi, India.