Oil refinery news

Petrobras has completed the production and sale of the first batch of SAF produced from CORSIA-certified low-risk ILUC soybean oil, which attests to sustainability criteria and a lower risk of impact on new areas.

Wood Mackenzie has forecasted Brent averaging US$78/bbl in 2027 and potentially easing to US$70/bbl by 4Q27, following a US-Iran MoU that has shifted market sentiment away from a prolonged Strait of Hormuz closure.

Cognite has announced the launch of its Integrated Supply Chain offering, which extends the Cognite AI and Data Platform beyond the plant.

John Crane has developed a validated methodology that significantly improves the accuracy of drivetrain analysis in critical rotating equipment.

Worley has completed the Front-End Engineering and Design for Alfanar’s Lighthouse Green Fuels sustainable aviation fuel project in Teesside, UK.

Zaffra and MB Energy have signed a non-binding Memorandum of Understanding for assessing a cooperation to support the commercialisation and market deployment of eSAF across Europe.

Compliance credits for biomass-based diesel and ethanol have doubled in value since the start of 2026. The credits have increased in price, mostly because of higher US biofuel blending targets, the EIA has reported.

Syzygy Plasmonics has announced that it has entered into a capacity reservation agreement with World Fuel Services for future SAF production from Syzygy's planned NovaSAF™ facilities.

The US EIA has its June STEO, reducing its expectation for global oil demand in 2026 due to high fuel prices, reduced fuel availability, and government initiatives curbing oil consumption.

Weekly estimates suggest US jet fuel production has increased to record highs in response to elevated jet fuel prices after the Strait of Hormuz closed on 28 February 2026, the US EIA has reported.