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Middle East

Global refinery capacity totaling 3.6 MM bpd at high-risk of closure

As much as 3.6 MM bpd of global refinery capacity has been assessed as being under high-risk of closure, according to Wood Mackenzie’s latest refinery closure threat analysis. 

More than 20% of global oil refining capacity at risk, analysis finds

More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in analysis published, as gasoline margins weaken and the pressure to reduce carbon emissions mounts.

Emirates adds SAF on flights from Amsterdam Schiphol Airport

Emirates has commenced the activation of its fuel agreement with Neste at Amsterdam Schiphol Airport, with over 2 million gallons of blended SAF to be supplied into the fueling system throughout 2024.

SAF costs must be lower, ExxonMobil VP says

Costs are the main obstacle to increasing the use of SAF said ExxonMobil Senior Vice President Jack Williams.

ITT invests $11 MM to enhance pump testing in Germany, India, and Saudi Arabia, aiding growth and large project ventures

ITT Inc. announced an approximately $11-MM investment to expand testing capabilities at three of its industrial process sites to enhance capacity for large project awards in its flow business, reinforcing the company’s commitment to an exceptional customer experience.

Iraq to curb oil exports to compensate for overproduction

Iraq will reduce its crude exports to 3.3 MM  bpd in the coming months to compensate for any rise above its OPEC+ quota in January and February.

Technip Energies, JGC, and NPCC got limited approval for ADNOC’s Ruwais LNG Project in the UAE

Technip Energies, leader of a joint venture with JGC and NPCC, have received a Limited Notice To Proceed from ADNOC to commence early engineering, procurement and construction activities at the Ruwais low-carbon LNG project, located in Al Ruwais Industrial City, Abu Dhabi.

Trafigura, Mercuria switch bunkering to Mauritius amid attacks, tax dispute

With more ships heading around the Cape of Good Hope due to attacks in the Red Sea region and a shutdown in their main South African bunkering operations, Mercuria and Trafigura have started refueling services in Mauritius.

Refined fuels and oil prices: long positions decline as distillate sales stall price rally

Benchmark oil prices plateau as investors finish repurchasing bearish short positions, impacting refined fuels and U.S. natural gas with declining sales and a short covering rally, respectively.

At least two injured in Iran's Aftab refinery incident, no deaths, state media says

At least two people were injured in an incident during a maintenance operation at the Aftab oil refinery in Iran's Bandar Abbas, Iranian state media outlets reported, citing the operating company