Refining
U.S. majors Exxon, Chevron post blowout earnings, ramp up buybacks
The two largest U.S. oil companies, ExxonMobil and Chevron, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.
U.S. fuel demand remains strong, despite recent data
Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration.
Shell slashes gas intake at Dutch, German refineries
Shell has slashed its use of gas at Europe's largest oil refinery, Rotterdam's 404,000 bpd Pernis site, by 40% and at its German refineries by 70%.
Valero kicks off U.S. refinery results with Q2 profit jump
Valero Energy Corp reported a rise in second-quarter profit on Thursday, boosted by higher demand for fuel and refined products.
Binh Son refinery Q2 net profit soars to $424 MM
Vietnam's Binh Son Refining and Petrochemical recorded net profit of $424 MM in the second quarter, up by nearly six times from a year earlier.
U.S. to sell additional 20 MM barrels of oil from strategic reserve
The United States has already sold 125 MM barrels from the reserve with nearly 70 MM barrels already delivered to purchasers.
Galp posts 90% profit leap on soaring oil prices and refining margin
Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit, citing soaring oil prices and a sharp increase in its refining margin.
Global gasoline cracks collapse, blow to refiners' profits
A sudden crash in global gasoline prices in the past two weeks has dented refiners' profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles.
LyondellBasell helps close the loop on polypropylene by joining NEXTLOOPP initiative
LyondellBasell, one of the largest plastic and chemical companies in the world, has recently joined the initiative that brings more than 40 major industry players together.
Nigeria petrol subsidy seen nearly 70% higher at $16.2 B next year
Nigeria could spend up to 6.72 T naira ($16.2 B) next year if it keeps a fuel subsidy in place, a nearly 70% jump from this year's budget.
- Ionikylation unit at PetroChina's Dagang refinery reaches 1,000 days of continuous operation 5/12
- thyssenkrupp Uhde successfully commissions EnviNOx® emission reduction system for Covestro’s NAUCI project in China 5/12
- Univation Technologies announces world-scale 800,000-tpy design capacity for UNIPOL™ PE process technology 5/12
- Traders rebrand Venezuelan oil for China as Brazilian 5/12
- British bioethanol industry faces 'existential' threat after U.S. trade deal, producers say 5/12
- Copersucar revenue to grow by $1.5 B after Eco-Energy deal with Green Plains 5/12
