Americas

Chevron annual profit doubles to record $36.5 B, but misses estimates

Chevron Corp. on Friday posted a record $36.5 B profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.

U.S. Energy Department to allocate $118 MM to biofuels projects

The U.S. Department of Energy (DOE) this week will announce over $100 MM in funding to expand U.S. biofuels production, as the Biden administration works to cut greenhouse gas emissions from transportation and meet climate goals.

Chevron's 5th and 6th cargoes of Venezuelan oil soon to depart

Two tankers chartered by Chevron Corp are loading Venezuelan heavy crude at the South American country and should depart in coming days for the United States, according to shipping documents and sources.

Digital Feature: Relief valve sizing for two-phase flow

This article will present the sizing technique for two-phase flow through relief valves and orifices. The procedure is simple but rigorous and generally applicable.

Syzygy Plasmonics and RTI Inetrnational sign agreement to demonstrate sustainable fuels production system

Syzygy Plasmonics, a deep decarbonization company, announced an agreement today with the nonprofit research institute RTI International to demonstrate sustainable fuel production at the RTI facility in Research Triangle Park, North Carolina, USA.

Phillips 66 achieves ISCC PLUS certification to turn oil from waste plastics into feedstocks

Phillips 66 announced it has received International Sustainability and Carbon Certification (ISCC) PLUS certification for its Sweeny Refinery in Texas to process oil made from waste plastics into feedstocks for new plastics.

Operations at Exxon's Baytown, Texas refinery normal after storms

ExxonMobil Corp said operations at its Baytown, Texas refining and petrochemical complex were normal on Wednesday following severe storms including at least one tornado on Tuesday.

Mexico's newest oil refinery to begin crude processing in July

Mexican state oil company Pemex's newest refinery, which is still under construction in Mexico's southeast, will begin to process crude oil in July 2023.

NASA awards $425 MM to Boeing for fuel-efficient airliner research project

The White House is targeting 20% lower aviation emissions by 2030, as airlines facing pressure from environmental groups to lower their carbon footprint pledged to use more sustainable aviation fuel.

U.S. crude stockpiles post surprise large build

U.S. crude oil stockpiles last week posted a large build that took analysts by surprise, as inventories in the Cushing, Oklahoma, storage hub gained while the market continued to recover from a winter storm last month.