Oil refinery 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.

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

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.

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.

Axens has announced a commercial collaboration with XCF Global aimed at supporting the market deployment of Vegan®, Axens’ proprietary Hydroprocessed Esters and Fatty Acids technology.

MAIRE has announced new awards and additional works related to previously announced orders for a total amount of approximately €1.3 billion, with projects located across Asia, Europe, and the Americas.

Novity has entered into an MoU with Chiyoda Corp. to jointly deploy an integrated solution combining Novity’s predictive maintenance AI platform with Chiyoda’s operations and maintenance total solution platform.