Oil refinery news

Nancy Yamaguchi, Contributing Editor, discusses why oil producers in the Middle East are aiming to recapture traditional strengths in the oil and gas industry before they look to move beyond fossil energy.

Wood has signed a collaboration agreement with OMV for the commercial licensing of its innovative plastic recycling technology, ReOil®.

Indian-based engineering firm, Megha Engineering and Infrastructures Limited (MEIL), has clinched a significant deal in Mongolia for the construction of a crude oil refinery plant.

Global oil demand will reach record levels in 2023, with demand expected to continue to grow each year and peak in 2035, according to Bloomberg Intelligence’s (BI) latest oil sector survey of energy-related investors.

Nuberg EPC has been awarded a propylene purification package (PPP) contract by Indian Oil Corp. Ltd. (IOCL).

Galp has reached final investment decision (FID) on two large scale projects to reduce the carbon footprint of the Sines refinery in Portugal.

ExxonMobil has announced the startup of two new chemical production units at its Baytown, Texas, US, manufacturing facility.

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.

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.

The US Energy Information Administration (EIA) expects global oil inventories to decline by almost a half million bpd in 2H23.