Crude oil
G7 finance ministers agree to Russian oil price cap
The Group of Seven finance ministers plan to implement a price cap on Russian-origin crude oil and petroleum products.
ExxonMobil to sell its share of Aera Energy joint venture
ExxonMobil affiliates have signed an agreement to sell all of ExxonMobil’s interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV.
Editorial Comment: Our purpose: 100 yr of striving to deliver technical editorial excellence to the HPI
One hundred years ago, a group of individuals saw a need to disseminate the latest technologies and know-how to improve refining operations, safety, management and profitability. At the time, World War 1 had ended roughly 4 yr prior, and global gasoline demand expanded immensely. In turn, new refining capacity was being built around the world to increase production to satisfy burgeoning demand. Simultaneously, new discoveries were being made to produce plastics, fertilizers and other petrochemical products.
History of the HPI: The 2000s: Net-zero, environmental regulations, capacity acceleration and digital transformation
This final installment of the History of the HPI series details major events in the refining and petrochemicals industry over the past 20 yr, including stricter regulations/initiatives to curb carbon emissions, a safer and more environmentally friendly way to produce and handle chemicals, significant capital investments to boost production capacity and digital transformation.
China's clean marine fuel output seen at record this year
Chinese refiners are expected to produce more than 15 MMt of very low sulphur fuel oil (VLSFO) this year, a record level, as the country allows greater competition in the marine fuel sector
Oil firm Neptune Energy aims for IPO, but not this year
Neptune, founded by the former head of Britain's Centrica Sam Laidlaw, was working on being "IPO ready" but current conditions on financial markets made it difficult to launch one at the moment, CEO Pete Jones said in an interview.
U.S. energy secretary urges refiners not to increase fuel exports
The U.S. Energy Secretary urged domestic oil refiners this month to not further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider taking action if the plants do not build inventories.
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.
No, TotalEnergies does not produce kerosene for the Russian army
As a shareholder of Novatek, TotalEnergies asked the management of Novatek on August 25 for information on what happens of the gas condensates produced by the Termokarstovoye field in Russia, in order to shed the fullest light on the recent controversy initiated by French daily newspaper, Le Monde.
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.
- thyssenkrupp Uhde completes pre-FEED for HAMR Energy’s renewable fuels project in Australia 8/21
- CMB.TECH completes merger with Golden Ocean 8/21
- Ketjen introduces new breakthrough catalyst that mitigates the effects of iron poisoning in FCCUs 8/20
- Sumitomo Chemical achieves scale-up of its process for producing propylene directly from ethanol 8/20
- EcoCortec, Jakob Schober GmbH awarded sustainability award for closed-loop circular films solution 8/20
- Addverb reinvents its factory automation development with Siemens Xcelerator 8/20
