Crude oil

Advanced Petrochemical to invest $1.6 B in three Saudi plants

Advanced Petrochemical Company, based in Saudi Arabia, said that one of its subsidiary, Advanced Polyolefins Industry Company has signed several agreements worth $1.6 B to fund the construction of plants at Jubail Industrial City II.

UK to examine petrol and diesel market in depth

Britain launched an in-depth study of the gasoline market to investigate a widening gap between crude oil and fuel prices, as well as the difference between pump prices in rural and urban areas.

Austria to tap fuel reserves again during refinery outage

Austria said it plans to release fuel from its national reserves for a second time since an accident at the country's biggest refinery in June prolonged an outage that is set to continue at least for another month.

MHIENG wins contract for a FEED study relating to CO2 capture

The objective of this FEED study is to implement the CO2 capture plant at the repowered Genesee Generating Station Units 1 & 2, owned by Capital Power in Alberta.

Hungary fuel price cap could lead to shortages

Hungary's cap on fuel prices should be lifted because it will lead to shortages "sooner or later", the CEO of Hungarian oil and gas company MOL said.

The downstream rundown: In case you missed it 7/8

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

Citgo ready to resume oil imports from Venezuela if U.S. authorizes

Citgo Petroleum is willing to resume imports of Venezuelan crude, suspended since 2019 by Washington's sanctions on its parent company PDVSA, if the U.S. government authorizes the flow.

History of the HPI: The 1980s: Oil spike/collapse, liquid crystals, conducting polymers and the rise of AR/VR

Nichols, Lee, Hydrocarbon Processing Staff

Several major impactful events took place in the global oil and gas and petrochemical industries in the 1980s.

Oil refiners, unions press U.S. EPA on biofuel blending costs

Oil refining company and labor union representatives pressed the U.S. Environmental Protection Agency at a virtual meeting last week to lower costs of the nation's biofuel blending program .

EIA estimates show a decrease in global surplus crude oil production capacity in 2022

The EIA's new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global surplus crude oil production capacity in both OPEC countries and non-OPEC countries.