Refining
The downstream rundown: In case you missed it 08/26
In case you missed any downstream news, here are the top stories from last week.
India's top refiner to spend $25-B for 2046 net-zero goal
Indian Oil Corp, the country's top refiner, plans to invest more than $25 B to achieve net-zero emissions from its operations by 2046, its chairman S. M. Vaidya said at an annual shareholders meeting.
Most of BP's Whiting refinery units shut following fire
Most of the units at bp’s 435,000 barrel-per-day Whiting, Indiana, refinery were out of production on Thursday following a Wednesday night fire, said sources familiar with plant operations.
PetroChina’s Dagang refinery commissions new alkylation unit using Ionikylation Technology
PetroChina Dagang Petrochemical Company successfully commissioned a 150,000 tpy Ionikylation unit for the production of high octane alkylate. Start-up activities were completed mid-August.
Clean Fuel refinery expansion will reduce Thailand energy dependence
Thailoil's ongoing expansion and upgrading works at its Laemchabang plant will enable the state-owned oil company to increase its crude oil processing capacity from 275,000 bpd to an estimated 400,000 bpd upon completion in 2023.
Major traders, banks cut business ties with Russia-backed Indian refiner
Many global oil traders and banks have stopped dealing with Indian refiner Nayara Energy, a Rosneft affiliate, as they are worried about Western sanctions over Russia's invasion of Ukraine.
U.S. court upholds Conoco's $8.7 B award for loss of Venezuela assets
A U.S. court upheld a tribunal's $8.75 B award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case.
Venezuela's second largest refinery resumes gasoline production
Venezuela's state oil and gas company PDVSA has restarted gasoline production at the country's second largest refinery after repairing a breakdown.
L&T wins contract from Indian Oil Corporation
IOCL is implementing the Panipat Refinery Expansion (P-25) Project to enhance refining capacity from 15 MMtpy to 25 MMtpy to meet the growth in demand of petroleum products and to increase their profitability and competitiveness in the long run.
U.S. oil refiners aim to run full-bore, spurning recession fears
U.S. crude oil refineries plan to keep running near full throttle this quarter, according to executives and estimates, as refiners set aside worries about recession and sliding retail prices to deliver more fuel.
- NAPCOR releases 2024 PET recycling report highlighting system efficiency gains and continued strength of PET circularity 12/12
- OQ courts other partners for petrochemical complex in Oman as SABIC drops out 12/12
- Brazil's BNDES approves $71 MM for carbon storage project 12/12
- Cuba on edge as U.S. seizure of oil tanker puts supply at risk 12/12
- China oil demand to plateau between 2025 and 2030 12/12
- Germany's PCK refinery says no impact from pipeline leak 12/12
