Refining
ExxonMobil sees global natural gas demand surging in outlook to 2050
Global demand for natural gas will rise more than 20% by 2050 from last year's level, as it displaces coal to power industries and meet higher electricity use in developing countries, ExxonMobil said in an annual outlook.
EIA: U.S. transportation fuel demand remains below pre-pandemic levels
Five years after the COVID-19 national emergency was declared, gasoline demand, distillate demand and jet fuel demand all remain less than pre-pandemic averages.
ExxonMobil announces Group III base stocks production
ExxonMobil has introduced its Group III base stock slate, which will include 4 and 6 cSt at 100°C base stocks to the North America market.
Russia raises August oil export plan after drone strikes continue to disrupt refineries
Export planning remains uncertain, however, due to ongoing strikes and shifting repair schedules, so delays and volume revisions are likely.
Canada's Alberta eyes investment in Japan's refining to boost oil exports
Canada's main oil-producing province of Alberta is considering a financial investment in Japan's refining sector, an attempt to reduce its overwhelming dependence on top trade partner the U.S. for oil exports.
U.S. EPA approves biofuel waivers for small refiners, stirring concerns over demand
The U.S. Environmental Protection Agency approved most of its backlog of requests by small oil refineries for biofuel law exemptions, raising concerns among biofuels advocates over a potential hit to demand.
Novatek to reduce naphtha exports due to fire at Ust-Luga complex
Debris from a destroyed Ukrainian drone caused a fire at Novatek's Ust-Luga terminal early on August 24.
China's Sinochem to sell two bankrupt refineries to local operators
The acquisitions, which come during a consolidation of the world's largest refining base, would see the new owners step up crude imports and resume operations at the troubled plants, lifting oil purchases at the world's top importer.
Iraq raises refining capacity to 1.3 MMbpd
The move should bring Iraq closer to achieving "self-sufficiency of petroleum products", and reduce the burden of importing petroleum derivatives.
CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China
China National Offshore Oil Corp has completed building a $2.9-B, 1.8-MMtpy integrated refining and petrochemical complex in eastern China
- Indian Oil buys first Colombian oil under Ecopetrol contract 12/31
- Ukrainian drone attack sparks fire, damages equipment at Tuapse refinery 12/31
- Chile's $2.5-B Volta green ammonia project wins environmental permit 12/31
- China begins issuing second batch of 2026 crude import quotas to refiners 12/31
- EIA: U.S. crude, fuel inventories rose in the week ended December 19 12/30
- Ghana's Tema oil refinery restarts after 9-yr shutdown 12/30
