Economics
Asia jet fuel set for bumpy ride in 2023 despite some China recovery
A full recovery in jet fuel consumption will boost Asian refiners' margins and crude demand further, lifting global prices.
JPMorgan sets 2030 emissions targets for polluting industries
JPMorgan said it had set targets to cut emissions tied to its finance and dealmaking in the iron and steel, cement and aviation sectors, as those emissions linked to oil and gas usage rose.
Harvest to buy storm-hit refinery-turned-terminal from Phillips 66
Harvest Midstream will buy the Belle Chasse terminal in Louisiana from U.S. refiner Phillips 66, the privately held company said this week, a move that will boost its existing regional crude pipeline systems.
Strike action to resume at Exxon Mobil’s UK Fawley oil refinery in January
Strike action at Exxon Mobil’s 270,000 bpd Fawley oil refinery in southern England is set to resume on Jan. 9, a GMB union spokesperson said this week.
ADNOC Acquires 24.9% Stake in OMV
Abu Dhabi National Oil Company (ADNOC) and Mubadala announced a transaction involving OMV, a global energy and chemicals group, headquartered and listed in Vienna, Austria.
TC Energy has submitted plan to restart Keystone pipeline after spill
TC Energy Corp has submitted its plan to restart the Keystone pipeline to U.S. regulators, a source familiar with the matter said on Tuesday, nearly two weeks after the line ruptured in the worst oil spill in the United States in nine years.
Latin America emerging as hot spot for more climate-friendly jet fuel
Latin America is drawing early investment for jet fuel produced from materials like forest residues and palm oil as emission-conscious airlines scour emerging markets for less-polluting fuel to power flights.
Greece to tap oil refineries levy to fund food allowance for households
Greece expects to raise around 650 MM euros ($690.82 MM) from a windfall tax on its two oil refineries this fiscal year and use the proceeds to help households with their monthly food expenses.
India to remain top buyer of Russia's Urals crude in December
India is taking most of Russia's Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data.
U.S. begins buying back oil for strategic reserve
The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 MM barrel release from the stockpile.
- 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
