Oil refinery news

The EIA reports that the UAE has invested heavily in increasing hydrocarbon production capacity.

The US Energy Information Administration (EIA) expects average US retail gasoline prices to decrease in 2024 because of increased inventories related to increased refinery capacity.

The EIA forecasts average annual crude oil prices in 2024 and 2025 will remain near their 2023 average, with global supply and demand for petroleum liquids expected to be relatively balanced over the next two years.

The EIA reports that the price of Brent crude oil averaged US$83/bbl in 2023, down from US$101/bbl in 2022.

MAIRE's subsidiary, Tecnimont, has successfully achieved the mechanical completion of the rehabilitation works of the old plant (Area 5) for a subsidiary of the Nigerian National Petroleum Company (NNPC).

Neste has begun a gradual transformation of its crude oil refinery in Porvoo, Finland, into a leading renewable and circular solutions refining hub.

Miro Cavkov, Euro Petroleum Consultants (EPC), Bulgaria, explains why modern refineries need to adopt a diverse approach on their journey to reaching sustainability goals.

The CITGO Corpus Christi Refinery has earned the US Environmental Protection Agency's (EPA) ENERGY STAR® certification, distinguishing the plant as a leader in energy and environmental management in the petroleum industry.

MAIRE has announced that NextChem has signed an agreement with Saras S.p.A for an engineering design study to accelerate the decarbonisation of Saras’ refinery in Sarroch, Sardinia.

The next major turnaround at Neste’s refinery in Porvoo, Finland, is scheduled for April - June 2024.