Economics
U.S. crude, gasoline inventories rise, distillates draw down
U.S. crude oil and gasoline inventories rose while distillate inventories fell last week, the U.S. Energy Information Administration (EIA) said on Wednesday.
U.S. fuelmakers to report lower 3Q profits on weaker margins, fuel demand
U.S. oil refiners' third quarter profits are expected to fall from last year on weakening margins as fuel demand softened and new refining capacity came online.
BGEN signs five-year contract with INEOS O&P UK
BGEN has announced that it has signed a five-year contract with the petrochemical manufacturer INEOS O&P UK. BGEN will provide a range of services to help INEOS optimize plant efficiency at its site in Grangemouth, Stirlingshire.
Australia fuel supplier Viva Energy's retail and refining challenges continue to hurt
Viva's downbeat update comes a few days after bigger rival Ampol, the only other domestic fuel supplier in the country, warned of similar challenges facing the refining sector and flagged a hit of A$100 MM in its earnings.
As U.S. Permian crude turns lighter, it risks losing favor with refiners
Companies drilling for the crude that turned the U.S. into the world's top oil producer face an unexpected dilemma: their West Texas Midland crude is getting lighter, which could make it less appealing to some refiners.
Digital Feature: WASCO’s Energy Efficiency Roadmap: Leveraging software and AI for operational excellence
This case study details how WASCO introduced an innovative Energy Efficiency Roadmap that uses proprietary simulation software and artificial intelligence to address the critical challenges of operational costs and carbon emissions in an liquified petroleum gas plant.
India eyes $87 B investment in petrochemicals sector over next decade
India is expected to receive investments worth $87 B in the next decade to meet the nation's rising demand for petrochemicals, the country's oil minister Hardeep Singh Puri said.
Egypt raises gasoline, diesel prices for third time this year
Egypt raised fuel product prices on Friday for the third time this year as it continues to cut back on diesel and gasoline subsidies, but said it would cover the additional energy costs for bakers of subsidized bread.
Phillips 66 hit with $604.9-MM U.S. verdict in fuel trade-secrets case
Energy company Phillips 66 owes biofuel maker Propel Fuels $604.9 MM in damages for stealing Propel's trade secrets to build up its renewable-fuel capabilities.
U.S. offers conditional loan guarantees worth $3 B for two SAF projects
The U.S. Department of Energy (DOE) has approved conditional loan guarantee commitments totaling nearly $3 B for two sustainable aviation fuel (SAF) projects.
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- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
