Crude oil
Chinese refiners buy oil from storage, raise output with fresh import quota
Stocks have built up in recent months after the refiners, known as teapots and mostly based in eastern Shandong province, ran out of import quota in October.
EIA: U.S. crude and fuel inventories climb, refining activity picks up
Crude inventories rose by 574,000 bbl to 427.5 MMbbl in the week ended November 28, the EIA said, compared with analysts' expectations in a poll for an 821,000-bbl draw.
Kazakhstan reroutes oil exports after drone attack cuts CPC pipeline capacity
The CPC pipeline, which carries over 80% of Kazakhstan's oil exports and handles more than 1% of global supply, briefly halted operations on Saturday after a mooring at its Black Sea terminal near Russia's Novorossiisk port was damaged.
Valero plans CDU upgrades at Port Arthur, Texas (U.S.) refinery in February
Among the improvements will be upgrades to processing of bottoms - heavy, gunky residual crude oil that is usually sent to the coker or used in asphalt.
Alberta oil regulator stopped enforcing gas flaring limits after government pressure
Alberta's dismantling of its 20-yr-old flaring limit after companies blew through the limit two years in a row, with no objections from the federal government, is an example of the challenges Canada faces in reconciling its environmental commitments with a renewed focus on economic growth.
Amber Energy plans to hold on to Citgo refineries after takeover
A Delaware court last week approved Amber's $5.9-B bid for Citgo's parent PDV Holding and ordered the sale of PDV's shares, wrapping up an auction aimed at compensating creditors for debt defaults and expropriations in Venezuela.
ZDA issues investor license for state-of-the-art oil refinery in Zambia
The refinery will be developed under a Special Purpose Vehicle (SPV) arrangement between the Industrial Development Corporation (IDC) and Xiang Xin Holding Co. Ltd., and will be located within the Sub Sahara Gemstone Exchange Industrial Park in Ndola. This strategic investment is set to boost Zambia’s industrialization agenda.
Update: bp Olympic Pipeline begins restart process after completing repairs
The Olympic Pipeline moves refined petroleum products including gasoline, diesel and jet fuel from northern Washington to Oregon and consists of one 16-in. diameter pipeline and one 20-in. pipeline.
Mexico's Pemex pumps less, refines more at home in October, data shows
Its seven local refineries refined 43% more year-on-year, reaching 1.04 MMbpd, helped in part by the Olmeca refinery in the port of Dos Bocas, which processed 191,657 bpd.
Insight: How sanctions made a showpiece Chinese refinery's Western partners run for the exits
Yulong's ambition to rub shoulders with global heavyweights, backed by Beijing's push to modernize its refiners, was upended on October 15, when the UK sanctioned it for dealing in Russian oil.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
