Crude oil

Shell wants to share more of its blockbuster profits, CEO says

Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy.

U.S. refiners step up imports of gasoline-friendly West African crude

U.S. refiners last quarter imported West African oil at the highest rate in nearly three years, customs data showed, buying the gasoline-friendly crudes as they boosted motor fuel production to meet summer driving demand.

Venezuela's refining arm Citgo on the verge of yet another power shake-up

A new battle for control of Citgo Petroleum, the eighth largest U.S. oil refiner and Venezuela's foreign crown jewel, could soon be unleashed under a proposed management shake-up by the South American country's opposition lawmakers.

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.