Economics
ADNOC makes strategic investment in Storegga, broadening its carbon management portfolio
ADNOC announced it has taken a 10.1% equity stake in Storegga to become a lead investor in the UK-based company that focuses on the development of global carbon capture and storage projects.
India's ONGC sees oil production rise 11% after east coast block starts output
India's Oil and Natural Gas Corp said it expected total oil output to climb 11% after its project off the country's east coast started producing oil.
India's fuel demand hits seven-month high in December
India's fuel consumption rose to a seven-month high in December to about 20.054 MMt, data from the Petroleum Planning and Analysis Cell of the oil ministry showed.
Motiva to shut CDU, coker at largest U.S. refinery
Motiva Enterprises is scheduled to shut the large CDU and large coker at its 626,000 bpd Port Arthur, Texas (U.S.).
Phillips 66 in talks for non-core assets sale
U.S. refiner and petrochemical manufacturer Phillips 66 is in active discussions for a sale of its non-core assets, Chief Executive Mark Lashier said during an energy conference.
Mexico's new Olmeca oil refinery now seen processing 243,000 bpd in 2024
Mexican state oil company Pemex's top executive estimated that the firm's newest refinery will process 243,000 bpd of crude in 2024 during its first year of operations, before ramping up to near full capacity in 2025.
Air Europa to fly to Havana with Cepsa's second-generation biofuels
Cepsa and Air Europa have sealed an alliance whereby the energy company will supply 14.4 tons of SAF to the airline for one year to cover the first monthly Madrid-Havana flight.
Azure announce plans to develop an SAF production facility in Kansas
Once fully operational, the facility will produce approximately 135 MM gallons per year of renewable fuels, primarily SAF.
U.S. fuel inventories surge as refiners boost runs, post holiday lull
U.S. gasoline and distillate inventories posted large builds last week as demand slipped, while crude stocks fell more than expected.
Biden administration slowly puts oil back into the SPR emergency stash
The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in 2022.
- Shell shuts down Singapore oil processing unit to investigate leak 12/27
- Peru declares environmental emergency after oil spill 12/27
- New York (U.S.) to fine fossil fuel companies $75 B under new climate law 12/27
- BPCL plans $11-B refinery and petrochemical project in South India 12/26
- Mexico's new Olmeca refinery operated at 17% of capacity in November 12/26
- Relevant Industrial announces acquisition of Loy Instrument Inc. 12/26
