Refining
Petrobras set to cut gasoline prices Wednesday
Brazil's Petrobras will reduce gasoline prices at its refineries by about 5% on Wednesday, the state-run oil company said in a statement, its first price cut since late 2021, making analysts review projections for the country's inflation.
U.S. crude stockpiles dip, gasoline builds as demand slackens
U.S. crude oil stockpiles edged lower last week but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration said.
Saudi minister sees lack of refining capacity in market, not lack of oil
Saudi Arabia's foreign minister said that he saw no shortage of oil in the market, but a lack of oil refining capacity, making it necessary to invest more in capacity to process crude oil into various oil products.
Corpus Christi polymers plant in Texas resumes construction
Indorama Ventures announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year.
Karbala oil refinery to start production before year end
Production at Iraq's Karbala oil refinery south of Baghdad will begin by the end of the year.
Oil settles lower ahead of potential large U.S. rate hike
Oil prices settled lower but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Green Fuels for Denmark receives IPCEI status
The funding will help enable the consortium behind Green Fuels for Denmark to develop the first phases of the project as part of the industrialization of renewable hydrogen and green fuels needed to compete with fossil-based alternatives.
Online Exclusive Executive Viewpoint: The economics of reliability: Global refining 2022
The refining segment provides some of the starkest examples of reliability, facility performance, and profitability that we have seen in recent history. Still, the takeaway continues to be the same: when it comes to big industries, reliability wins, and unreliability loses.
IEA chief says price cap on Russian oil should include refined products
Prices of refined products, such as gasoline and diesel, have soared even more than crude oil in the wake of the loss of Russian supply, because of a global refinery capacity crunch following the closure of several plants around the world.
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.
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