Economics
Refiner PBF Energy posts bigger-than-expected 3Q loss as margins collapse
PBF Energy posted a bigger-than-expected 3Q loss on Thursday as the U.S. refiner took a hit from weak fuel demand that shrunk refining margins.
Shell's $6-B profit smashes forecasts as LNG offsets weak refining
Shell reported on Thursday 3Q profits of $6 B that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results.
Aramco, Petrovietnam sign Collaboration Framework Agreement for increased petrochemicals trade
The framework agreement signed by Aramco and Petrovietnam will explore opportunities for cooperation in storage and the supply and trading of energy and petrochemical products
TotalEnergies studies Moroccan project to export green ammonia to Europe
TotalEnergies will study plans for a renewable energy project to produce hydrogen and ammonia in Morocco for delivery to Europe, which is seeking to increase use of the fuels as part of its energy transition.
U.S. gasoline stockpiles hit 2-yr low on stronger demand
U.S. gasoline stockpiles fell unexpectedly last week to a 2-yr low on strengthened demand, the U.S. Energy Information Administration (EIA) said on Wednesday, while crude inventories also posted a surprise drawdown as imports slipped.
Mexico's Pemex posts wider third-quarter loss, hit by weaker peso
Mexican state-owned oil company Pemex reported a deeper $8.2-B 3Q net loss on Tuesday, hurt mostly by a weaker exchange rate even as it benefited from support from the country's new government.
Vietnam says Saudi Aramco wants to invest in oil refining, petrol distribution
Oil giant Saudi Aramco wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian country's government said in a statement issued late on Tuesday.
Phillips 66 refineries to run between low to mid 90% range capacity in Q4 2024
U.S. crude oil refiner Phillips 66 plans to operate its refineries in the low to mid-90% range of combined capacity of 1.5 MMbpd in the fourth quarter.
Sumitomo Chemical begins study to optimize operations at Keiyo Ethylene
Sumitomo Chemical has made a proposal to Maruzen Petrochemical Co., Ltd., its JV partner in Keiyo Ethylene Co., to reduce offtake quotas for Sumitomo Chemical products at Keiyo Ethylene.
Refiner Phillips 66 reports 3Q profit beat on midstream, chemicals strength
Phillips 66 beat quarterly profit estimates on Tuesday as strength in its chemicals and midstream segments helped the refiner more than offset a slump in refining margins from lackluster fuel demand.
- Envision Energy powers world's first green marine ammonia bunkering 7/25
- New catalyst breakthrough could make clean ammonia easier to produce 7/25
- U.S. Gulf refiners seek Middle East, S. American oil to offset Venezuela, Mexico losses 7/25
- CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions 7/25
- PetroChina makes FID for new northeast refinery complex 7/25
- Valero Energy beats Q2 profit estimates as refining margins improve 7/24
