Economics
Marathon Petroleum's profit beats as volume boost offsets weak refining margins
Marathon Petroleum beat second-quarter profit estimates, as higher volume of crude processing and a strong midstream segment helped offset low refining margins, sending the shares of the top U.S. refiner up 4.9% before the bell on Tuesday.
Chevron reports 2Q earnings miss on weak refining margins
Chevron reported 2Q earnings on Friday that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices, sending its shares down 1.5% in premarket trading.
Trafigura-Entara consortium to buy French refinery from ExxonMobil
Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, has agreed with ExxonMobil's ESSO SAF to buy the Fos-sur-Mer refinery and Toulouse and Villette-de-Vienne terminals in France.
Canada's crude oil has an increasingly significant role in U.S. refineries
Crude oil imports from Canada have become increasingly important to U.S. oil refineries, now making up most U.S. imports.
Shell beats forecasts with $6.3 B second quarter profit
Shell reported second-quarter profit of $6.3 B, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts' forecasts.
Egypt aims to keep diesel prices subsidized
Egypt will aim to keep the price of diesel - one of the country's most commonly used fuels - subsidized by raising other petrol prices, Prime Minister Mostafa Madbouly said.
illimity, Trafigura lend money to Italian refinery for energy transition
illimity and commodity trader Trafigura have teamed up to lend more than €400 MM ($434 MM) to Italian refinery ISAB, which will invest €1.4 B in the next decade to strengthen its business and make it greener.
Update: Ukraine PM says Lukoil sanctions do not threaten Slovakia's energy security
Kyiv's sanctions prohibiting the transit of oil from Russian producer Lukoil do not pose a threat to Slovakia's energy security, Ukraine's prime minister said on Wednesday.
Phillips 66 beats 2Q results estimates on midstream unit strength
Refiner Phillips 66 reported quarterly results that beat analysts' estimates, helped in part by strength at its midstream unit, even as it grappled with lower margins due to a tepid summer driving season.
The illusion of accuracy in analyzing plant failures
This article highlights the challenges faced by plant engineers in accurately determining damage mechanisms, discussing three common illusions of accuracy including temperature limits, reliance on single references, and confirmation bias during failure investigations.
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- ASTM International signs MoU with Gulf Cooperation Council Laboratory Company for Technical Services (GCC Lab TSCo.) 11/18
- KBC launches Visual MESA Energy Management System 7.3 11/18
- MHI Compressor secures steam turbine contract at Baton Rouge (U.S.) olefins plant 11/18
- Reliance buys 1 MMbbl of crude from Kuwait's KPC, trade sources say 11/18
- Vitol, Cnergyico make Pakistan's biggest single delivery of marine fuel 11/18
