Economics
Colorado refinery outage causing increased fuels pricing
The only petroleum refinery in Colorado shut down in late December after sustaining damage from extremely cold weather, which may tighten gasoline and diesel fuel supplies in the region.
Brazil to resume taxes on fuels
The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday.
How a ban on Russian crude affects EU's refining industry
A look at how a ban on Russian crude affects oil exports and the EU's refining industry
CNPC shuffles regional offices to better support global portfolio
China's CNPC has completed a months-long reshuffle with the addition of six regional offices that report to Beijing headquarters to better coordinate and supervise its sprawling global portfolio.
Biden administration releases $2.5 B for carbon capture programs
The Biden Administration announced $2.52 B in funding for two carbon management programs to catalyze investments in transformative carbon capture systems and carbon transport and storage technologies.
U.S. crude oil inventories rose as utilization drops
U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season.
Kuwait to ramp up refined products exports from the 615,000-bpd Al Zour refinery
Kuwait is set to ramp up refined oil product exports from its new Al Zour refinery in the second half of 2023 to plug Russian shortfalls in Europe and meet growing demand in Asia and Africa.
United Airlines launches $100-MM SAF investment fund
United Airlines launched a more than $100 MM investment fund to support start-ups focused on the research and production of sustainable aviation fuel (SAF).
Bangladesh needs $1 B to import fuel oil and avert an energy crises
Bangladesh's private power producers will need $1 B in foreign currency to import fuel oil and avert an energy crisis this summer.
Chinese refining utilization dropped in 2022: The first time since 2000
In 2022, Chinese refiners processed less crude oil than they did in 2021, which was the first year-over-year decrease in processing according to data going back to 2000.
- Brazil's Petrobras to invest $4.8 B in integration between Reduc refinery and Boaventura complex 7/8
- Braskem completes first sale of circular polyethylene in South America 7/8
- bp's 440,000-bpd refinery in Whiting, Indiana (U.S.), reported flaring due to operational conditions 7/8
- UK's insolvent Lindsey oil refinery secures some crude supply to keep running for now 7/8
- Brazil's energy minister hints at possible fuel price cuts 7/8
- Marathon Galveston Bay refinery (U.S.) hydrotreater to remain shut until September 7/8
