Crude oil

Binh Son refinery to undergo major maintenance next year

The 130,000 bpd refinery has been in operation for 13 years and its equipment is facing risks of aging and erosion.

India cuts fuel export taxes, hikes tax on local crude

India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil, a government notification said.

Marathon Petroleum posts bumper profit on soaring fuel prices

Marathon Petroleum smashed quarterly profit estimates, the latest U.S. refiner to benefit from a surge in fuel prices sparked by tight capacity and low inventories.

The downstream rundown: In case you missed it 7/29

In case you missed any downstream news, here are the top stories from last week.

Valero to run its 14 refineries at 90%-93% of capacity in Q3

Valero Energy Corp plans to operate its 14 refineries between 90%-93% of their combined total processing capacity in the third quarter.

U.S. majors Exxon, Chevron post blowout earnings, ramp up buybacks

The two largest U.S. oil companies, ExxonMobil and Chevron, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.

Eni confident it will replace Russian gas by 2025

Italian energy group Eni believes it will be able to completely replace Russian gas imports by 2025 as uncertainty over Moscow's energy supplies to Europe forces countries to seek alternative sources.

U.S. fuel demand remains strong, despite recent data

Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration.

Shell slashes gas intake at Dutch, German refineries

Shell has slashed its use of gas at Europe's largest oil refinery, Rotterdam's 404,000 bpd Pernis site, by 40% and at its German refineries by 70%.

U.S. crude stockpiles drop as exports surge to record high

U.S. crude oil stockpiles fell last week, driven by a surge in exports to an all-time high due to the big discount for U.S. crude when compared with international benchmark Brent.