Oil refinery news

Rolando Gabarron and Michelle Wicmandy, KBC – A Yokogawa Company, explain how advanced digital technologies and cloud solutions streamline oil operations.

Axens’ hydrocracking unit, distillates hydrocracking unit and naphtha hydrotreating unit were successfully started at Shenghong Refining & Chemical complex.

Aker Solutions has been awarded a contract by Equinor to carry out a feasibility study for its Mongstad Industrial Transformation project in Norway.

Spot petroleum product prices at the Chicago trading hub are increasing after an unplanned outage of BP’s refinery in Whiting, Indiana, US, on 1 February 2024.

Nancy Yamaguchi, Contributing Editor, discusses Australia’s retreat from refining and the consequent impact on regional oil trade.

On the occasion of India Energy Week 2024, TotalEnergies and Oil and Natural Gas Corp. (ONGC) have signed a cooperation agreement to carry out methane emissions detection and measurement campaigns.

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.