Economics
Lyondell begins shuttering Houston refinery (U.S.) for permanent closure
Chemicals maker LyondellBasell Industries began shuttering its 263,776-bpd Houston refinery on Monday for permanent closure. The shutdown is expected to be completed by early February.
Russia oil sanctions create different winners at different times
The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.
Radix, Celanese, Cognite partner to develop JO.AI, a groundbreaking generative AI-powered solution
Radix and Celanese will collaborate with Cognite on the development of JO.AI, a groundbreaking generative AI-powered solution designed to revolutionize operations in asset-intensive industries.
Russian oil refining rises as U.S. sanctions target crude
Russian refineries are processing more crude oil in the hope of boosting fuel exports after new U.S. sanctions on Russian tankers and traders made exports of unprocessed crude more difficult.
China 'teapot' refiners halt plants as new fuel tax
Several independent oil refineries in eastern China have halted operations, or plan to do so, for indefinite maintenance periods as new Chinese tariff and tax policies plunge them deeper into losses.
Emerging Fuels Technology awarded technology licensing contract for seawater CO2-to-SAF conversion plant
Emerging Fuels Technology's proprietary technology platform will be used on Sea Dragon Energy's demonstration plant that will convert CO2 extracted from seawater into synthetic jet fuel (sustainable aviation fuel).
Fortescue Energy CEO says green H2 cost is key as demand drops
Replacing fossil fuels with green hydrogen (H2) depends on creating demand by making it price competitive, as buyers are unwilling to pay "green premiums," Fortescue Energy CEO Mark Hutchinson said in Davos at the World Economic Forum.
U.S. crude stockpiles hit near 3-yr low despite softer refinery demand
U.S. crude oil inventories slipped to their lowest level since March 2022 last week, even as refining activity fell sharply, cutting demand for crude.
Australia's Ampol expects lower annual earnings on Lytton refinery snags
Australia's Ampol estimated a steep drop in annual earnings on Thursday as production at its Lytton refinery in Queensland was hit by operational constraints and lower refining margins.
European glut weighs on global gasoline margins
Gasoline stocks in Europe have hit a record high as exports dropped due to higher refinery runs in the U.S. and Nigeria, resulting in gasoline profit margins at European and U.S. oil refineries falling to a 15-month low in January.
- Vioneo awards Lummus polypropylene contract for world's first industrial scale fossil-free plastics from green methanol facility 8/19
- Research: Developing an energy-saving, carbon-capturing method for making ethylene glycol 8/19
- Emerson announced the release of its new Rosemount 3144S temperature transmitter 8/19
- Chinese refiners sweep up Russian oil after Indian demand falls 8/19
- Indonesia plans quick-to-build oil refineries for U.S. crude 8/19
- Russia's ultra low-sulfur diesel exports from Primorsk scheduled to rise in August 8/19
