Oil refinery news

Uganda’s oil refinery is scheduled to begin operations in the 4Q29 or the 1Q30, according to Michael Nkambo Mugerwa, General Manager of Uganda Refinery Holding Co.

The US EIA estimates crude oil inventories in China increased by about 900 000 bpd between January and August 2025, essentially acting as a source of demand by removing barrels from the global markets.

Aramco has advanced its strategic downstream expansion with the acquisition of an additional 22.5% stake in Petro Rabigh from Sumitomo for US$702 million (SAR 7 per share).

The US Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that US crude oil production will average 13.5 million bpd in both 2025 and 2026, both slightly higher than the agency’s September forecast.

Integrated Global Services (IGS) has announced the expansion of its automated field welding services with the opening of a new operational hub in Radom, Poland.

For the week ending 26 September 2025, US propane inventory was 103 million bbl, about 13 million bbl more than the previous five-year average for this time of year, the EIA has reported.

Crude oil prices were relatively stable in the 3Q25, ending the quarter just US$0.09/bbl less than they started, while refinery margins increased to their highest levels so far in 2025, the EIA has reported.

The value of all energy trade between the US and Mexico was estimated to be US$57 billion in 2024, down from nearly US$72 billion in 2023, according to data from the US Census Bureau, the US EIA has reported.

Phillips 66 has provided an update on its progress toward idling operations at its Los Angeles refinery, US, in furtherance of the company’s efforts to redevelop these real estate sites.

Aramco, Honeywell, and KAUST have signed a joint development agreement to develop technology to advance the capabilities of crude-to-chemicals, Saudi Arabia.