Refining
European oil giants step back from renewables path
Almost five years ago, bp embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay investor concerns over future profits.
Russian refineries cut oil runs due to losses, closures loom
At least three Russian refineries have had to halt processing or cut runs due to heavy losses amid export curbs, rising crude prices and high borrowing costs. The closures highlight the struggles of the Russian refining industry, which has been caught in the crosshairs of Ukrainian drone attacks, Western sanctions on Russia, which force refiners to sell fuel at a discount, as well as high interest rates.
Spain's Moeve swings to quarterly loss on weak refining margins
Spain's second-largest oil company, Moeve, formerly known as Cepsa, posted a third-quarter loss after a sharp decline in refining margins hit its energy business.
Asia naphtha supply expected to remain tight over next two years
Naphtha is expected to remain in short supply in Asia over the next couple of years as more crackers come online and as demand for blending the fuel with gasoline rises.
U.S. energy draws up a wish list for new Trump administration
With U.S. President-elect Donald Trump two months away from taking office and able to act on his campaign promises, energy executives are lining up to offer new proposals to the mix.
Technip Energies, Shell Catalysts & Technologies move towards an exclusive global alliance for carbon capture
Technip Energies and Shell Catalysts & Technologies have agreed to strengthen their relationship and will be moving towards global exclusivity for the delivery of amine-based post-combustion carbon capture based on Shell’s cutting-edge CANSOLV CO₂ capture system.
SOCAR, Baker Hughes partner on integrated gas recovery, H2S removal system at the Heydar Oil Refinery
Baker Hughes and SOCAR signed a contract for an integrated gas recovery and hydrogen sulfide (H2S) removal system that will significantly reduce downstream flaring at SOCAR’s Heydar Aliyev Oil Refinery in Baku, Azerbaijan.
India shaping up as refining hub, to rely on fossil fuels until 2040
India, the world's No.3 oil importer and consumer, is expected to rely on fossil fuels until at least 2040 and is positioning itself as a refining hub, Oil Minister Hardeep Singh Puri said.
US refiner margins to stabilize next year as plant closures cut supply
U.S. refiner margins for gasoline and diesel will be relatively unchanged next year, the U.S. Energy Information Administration said, signaling relief for fuel producers who saw profits slump sharply since 2022 on slowing demand growth.
Germany blocks oil firms from using past emissions credits to support biofuel industry
The German cabinet approved reforms to restrict oil companies from carrying excess emissions reductions credits forward, in a step aimed at boosting the biofuel industry that was hit by a quick drop in carbon prices in recent years.
- Dow Chemical delays construction on multi-billion-dollar Path2Zero project in Fort Saskatchewan, Alberta, Canada 4/25
- Asahi Kasei, Nobian, Furuya Metal and Mastermelt commence joint project to recycle metals, signaling a milestone towards circularity in the chlor-alkali industry 4/25
- India's Delhi plans to curb gasoline car sales, ban gas-guzzling bikes to shed polluter tag 4/25
- Automakers rush to meet surging China demand for long-range hybrids 4/25
- Aster Chemicals to bid for ExxonMobil's Singapore fuel stations 4/25
- Wärtsilä, Höegh Evi and partners complete development of world’s first floating ammonia-to-hydrogen cracker 4/25
