Refining News

 

Exxon Green Lights Mega Refinery Expansion

Jan 29, 2019

Exxon Mobil Corp has given final approval to an expansion that would nearly double the size of its 365,000 barrel-per-day (bpd) Beaumont, Texas, refinery, making it the largest in the United States, said two people familiar with the company's plans.The largest U.S. oil producer, which has been considering a third processing unit at the plant since at least 2014, has authorized financing for equipment needed to convert shale crude from its West Texas oilfields into precursors for gasoline…

Eni, Lombardy Pact on Sustainability

Jul 03, 2019

Italy's Lombardy Region and Italian energy company Eni signed a Memorandum of Understanding (MoU) for long-term sustainable growth at Eni’s refinery in Sannazzaro de' Burgondi.Attilio Fontana, President of the Lombardy Region, and Giuseppe Ricci…

Tainted Oil Set for Russian Refineries, Ports After Dilution

May 31, 2019

More than a million tonnes of contaminated oil from Russia's Druzhba ('Friendship') pipeline, expected to be shipped back from Belarus, will end up at Russian refineries and export ports after being diluted to usable levels, sources have told Reuters…

Adnoc Inks Base Oil Deal with IOC

Apr 24, 2019

The Abu Dhabi National Oil Company (Adnoc) announced that it has signed another significant long-term sales agreement with Indian Oil Corporation (IndianOil) for its high-quality base oil called ADbase.IndianOil is the largest seller of finished…

Bids for Small Refinery Waivers Flood into EPA

Feb 21, 2019

The U.S. Environmental Protection Agency has received 37 applications for small refinery waivers for 2018 from the U.S. Renewable Standard (RFS) through mid-February, according to data released on Thursday by the agency.The 37 applications matches the total the EPA received last year…

Top Citgo Executives Removed as PDVSA Chaos Continues

Feb 19, 2019

Citgo Petroleum Corp has removed at least three top executives close to Venezuelan President Nicolas Maduro, people familiar with the matter said on Monday, in a move to cement management control under a new board of directors.The U.S. refining…

Sonatrach Shortlists 4 Firms for Trading Joint Venture

Feb 11, 2019

Algeria's Sonatrach has shortlisted four firms, with only one to be selected, to set up a trading joint venture, the company's chief executive Abdelmoumene Ould Kaddour told reporters.'Of the 14 international firms interested in a trade JV with Sonatrach…

Phillips 66 Reports Soaring Q4 Profit

Feb 08, 2019

U.S. refiner Phillips 66 reported a more than four-fold surge in fourth-quarter adjusted profit on Friday, helped by low crude prices that boosted refining margins.On an adjusted basis, net income rose to $2.26 billion, or $4.87 per share, in the quarter…

ADNOC Seals $5.8 bln Refining and Trading Deal with ENI, OMV

Jan 28, 2019

Italy's Eni and Austria's OMV have agreed to pay a combined $5.8 billion to take a stake in Abu Dhabi National Oil Company's (ADNOC) refining business and establish a new trading operation owned by the three partners.The transaction, which expands ADNOC's access to European markets…

Oil Refining Capacity to Grow at Record Pace

Jan 18, 2019

Global oil refining capacity is set to increase at its fastest pace on record this year, possibly boosting stocks of products such as diesel, gasoline and marine fuel, the International Energy Agency said on Friday.Oil refining capacity will rise by 2…

Current News

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Sarawak Seeks to Recoup Tax from Petronas

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