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Crude oil

Element Fuels readies site for H2-powered refinery in south Texas (U.S.)

Located within the Port of Brownsville, the complex is designed to exclusively process domestic high-gravity shale oil into high-octane, low-carbon fuels and low-carbon hydrogen, produce reliable electricity.

Consortia target Citgo's Texas refinery as auction deadline looms

Citgo Petroleum's smallest and least profitable oil refinery has been thrust into the spotlight as a potential breakout candidate ahead of next week's court auction to pay over $20 B in Venezuela-related claims.

Asia high-sulfur fuel oil market to take a breather in strong rally

A rally in Asia's high-sulfur fuel oil (HSFO) market, boosted by lower Middle East exports and OPEC+ cuts, is expected to take a breather as Russian exports remain elevated and will ease tight supply.

Talks end on Shell MiRO refinery stake sale to Czech firm

Talks on the sale of Shell Deutschland's 32.5% stake in Mineraloelraffinerie Oberrhein GmbH (MiRO) in the southern German city of Karlsruhe to Czech state-owned pipeline operator MERO have ended without an agreement.

Taiwan's Formosa plans June run cuts due to weak refining margins

Due to weak margins, Taiwan's Formosa Petrochemical Corp plans to cut run rates at its crude distillation units by 40,000 barrels per day (bpd) to 440,000 bpd in June.

Neste completes major turnaround at Porvoo refinery

The nearly 400-MM euro turnaround of Neste’s Porvoo refinery in Finland has been successfully completed, and crude oil processing and renewable and circular raw materials processing has begun operations.

EIA: U.S. crude stocks, gasoline and distillate inventories rise

U.S. crude stocks, gasoline and distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday.

Czech Republic to end Russian oil use in first half of 2025

The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline (TAL).

Goldman Sachs: Global LNG market to grow by 50% by 2029

Growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research.

Venezuela's May oil exports rise 30% during U.S. wind-down period

Venezuela's oil exports recovered in May from a low figure the previous month as state oil company PDVSA's customers rushed to take cargoes ahead of the resumption of U.S. sanctions on the South American country.