Refining

Bulgaria wins UK sanctions reprieve on refinery, petrol stations

The UK last month announced sanctions on Russia's two biggest oil companies, Rosneft and Lukoil, and a week later the U.S. followed suit in a bid to squeeze the financing of Moscow’s war effort in Ukraine.

China's Sinochem shuts one crude unit at Quanzhou after fire

The 300,000-bpd Quanzhou refinery was due to be offline for scheduled full plant maintenance from the end of November or early December to January.

Enbridge approves $1.4-B project to boost Canadian oil flows to U.S. refiners

The project adds additional takeaway capacity for Canadian crude and broadens access to U.S. refineries, improving the flow of oil sands to major export outlets.

Bulgarian parliament overturns presidential veto on Lukoil refinery takeover

John Crane launches Performance Plus™, a new era in service excellence for rotating equipment

Quick wins on cutting methane dogged by a slow transition

The pledge to cut methane emissions by 30% below 2020 levels by 2030 has been signed by 159 countries plus the EU. Many of them have developed, or are working on, methane action plans, and billions of dollars have been committed to the effort.

Refiners confront twin challenges of demand disruption and decarbonization

IEA: World oil and gas demand could grow until 2050

The Paris-based energy security watchdog predicted in its annual outlook that the world will likely fail to meet its goal to cap the rise in temperatures to as close as possible to 1.5°C degrees (2.7°F) above pre-industrial times to avoid the most devastating effects of climate change.

Bulgaria's president vetoes law to seize Lukoil refinery amid U.S. sanctions

Bulgaria's President Rumen Radev returned the legislation to parliament for further discussion, saying the changes failed to provide protection against future financial claims against the state, violated Bulgaria's constitution and posed a risk to public finances.

Chinese refiners' term oil volumes from Saudi Arabia to drop in December

The expected drop in supply from the world's top exporter to the world's largest oil importer for a second straight month comes as some Chinese refineries are heading for maintenance and as independent refiners are waiting for Beijing to issue 2026 import quotas.