Economics
Cost of Mexico oil refinery rising to up to $12-B, president says
A major new oil refinery under construction on Mexico's Gulf coast will ultimately cost between $11 B and $12 B, up from around $8 B originally estimated by the government.
Surge in U.S. renewable diesel supply won't offset loss of petroleum diesel
A flood of U.S. renewable diesel plants set to come online in the next three years will not be enough to offset the loss of petroleum diesel refining capacity from plant closings since 2019.
Kuwait investing to meet any OPEC output increase
Kuwait Petroleum Corporation chief said the Gulf producer had the capacity to reach its OPEC quota and was moving to its first offshore production as it invests to meet future oil demand.
Biden says decision on pause on federal gasoline tax could come by end of week
U.S. President Joe Biden said on Monday that a decision on whether to pause a federal gasoline tax could come by the end of this week, as the United States struggles to tackle soaring gasoline prices and inflation.
Petrobras CEO resigns amid political blowback on fuel prices
The chief executive of Brazil's state-run oil company Petrobras resigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week.
The downstream rundown: In case you missed it 6/17
In case you missed any downstream news, this piece will give you a summary of some of the top stories from last week.
U.S. steps up heavy crude imports as Biden blasts profiteering
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.
Chevron Corporation awards Worley a global services agreement
Worley and Chevron have entered into a global master services agreement covering Chevron’s upstream, midstream, and downstream business needs.
Thailand agrees more support measures amid surging oil prices
Thailand's economic teams agreed to extend some support measures to reduce living costs for another three months, and sought cooperation from refineries to help boost the country's depleted oil fund amid rising energy prices.
U.S. energy chief to discuss record pump prices with refiners next week
U.S. Energy Secretary Jennifer Granholm is expected to meet with refining executives on June 23 as tensions between the White House and the oil industry mount over soaring gasoline prices.
- 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
