Economics

Refinery closures and rising consumption will reduce U.S. petroleum inventories in 2026

In 2026, the U.S. EIA forecast that inventories of the three largest transportation fuels in the United States—motor gasoline, distillate fuel oil and jet fuel—will fall to their lowest levels since 2000

LyondellBasell to lay off 86% of workforce at shuttered Houston refinery, filing shows

LyondellBasell will lay off 345 workers, or 86% of the workforce, at its shuttered Houston refinery on April 17, according to a filing with the Texas Workforce Commission.

Digital Feature: The reality of FuelEU in numbers

Today, many owners and managers are concerned with the EU Emissions Trading Scheme (ETS), designed to reduce emissions produced by shipping. However, the author's company's projections show that the impact of FuelEU will eclipse that of the ETS around 2035 and dwarf it beyond that. Business as usual is therefore no longer an option, and progressive decisions must be made to deal with this challenge.

IT dependencies complicate OT security

Cyber-securing oil and gas automation to ensure safe, reliable and efficient physical operations is becoming more challenging. This article explores the modern yet evolving threat environment, how expectations for cybersecurity are changing, how information technology/operational technology (IT/OT) dependencies have emerged as an important issue in most cybersecurity programs, and how owners and operators are addressing this new issue.

Synergize FCCUs and hydrocracking processing units to maximize refining margins

Optimize process design and commercialize newly developed processes through close collaboration between licensor and client

This case study follows the installation of new sulfur recovery units in Kuwait by Kuwait Oil Co. This article highlights key aspects of collaboration and technological advancement in process design development and project execution between the operator and licensor to the benefit of both parties.

Thai SCG Chemicals unit seeks Vietnam tariffs as operations at new complex remain suspended

Vietnam's Long Son Petrochemicals, a unit of Thailand's SCG Chemicals, is lobbying Vietnam to impose tariffs on imported polyethylene and polypropylene, as operations at its new $5.4 billion petrochemical complex remain suspended due to low margins.

VDMA valves association market analysis: Industry standstill looms after a strong 2024

The industrial valves industry performed better than expected in 2024 despite adverse conditions. Overall, nominal sales growth of 6% was achieved. While European business declined by 1%, international sales climbed by 11%.

Opinion: bp’s green failure offers Big Oil a lesson in moderation

bp has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago to become a renewables giant. The takeaway for Big Oil is that the energy transition is a marathon, not a sprint.

Nextchem to provide technology for Pacifico Mexinol's ultra-low carbon methanol plant (Mexico)

When it initiates operation in 2028, Pacifico Mexinol's facility is expected to be the largest single ultra-low carbon methanol facility in the world, producing approximately 350,000 tpy of green methanol and 1.8 MMtpy of blue methanol from natural gas with carbon capture.