U.S.
Phillips 66 hit with $800-MM penalty in biofuel trade secrets case
A state court in Alameda, California, on Wednesday ordered Phillips 66 to pay $195 MM in punitive damages, in addition to $604.9 MM in compensation the refiner was ordered to pay following a separate verdict.
PBF Energy partially restarts Martinez (U.S.) refinery, posts smaller-than-expected quarterly loss
The refinery has begun producing limited quantities of gasoline, jet fuel and intermediates. PBF Energy expects total throughput during the period of limited operations to be in the range of 85,000 bpd–105,000 bpd.
U.S. crude stocks and distillate inventories rise, gasoline inventories fall
U.S. crude stocks and distillate inventories rose while gasoline inventories fell in the week ending July 25, the Energy Information Administration (EIA) said.
AFPM challenges Trump biofuel, tariff policies in letter
A leading U.S. refining trade group has criticized the Trump administration's biofuel policies in a letter to top Republican lawmakers, representing the oil industry's biggest rift with the president since his return to the White House in January.
EU Russia sanctions add fuel to red-hot global diesel market
New European Union sanctions targeting Russia's oil industry will reshuffle global diesel flows for the second time since 2022, adding pressure to an already red-hot market.
U.S. Gulf refiners seek Middle East, S. American oil to offset Venezuela, Mexico losses
The shake-up in trade flows reflects a shortage of medium and heavy crude grades at the key Gulf Coast refining hub, which has struggled in recent months to secure adequate supplies amid Mexican production and quality challenges, and Washington's pressure strategy on Venezuela's sanctioned energy industry.
Dow forecasts sales below estimates, slashes dividend as downturn takes a toll
Dow halved its dividend and forecast third-quarter revenue below analysts' expectations as the chemicals maker navigates a prolonged downturn in the industry, sending its shares down nearly 10% in premarket trading.
In rare move, California (U.S.) steps in to find buyer for Valero refinery to avoid closure
California government officials are trying to find a buyer for Valero Energy's Benicia refinery near San Francisco, an unusual effort as the clock ticks down on the company's planned closure of the facility in April.
Update: Cancelled and postponed green hydrogen projects
Developers of green hydrogen have scaled back investments and scrapped projects globally as elevated production costs and weak demand for the low-carbon fuel have made many ventures unviable.
Marathon refinery in Texas (U.S.) restarts diesel, gasoline units
Marathon has restarted a diesel-producing unit and the gasoline-producing unit at its 631,000-bpd Galveston Bay Refinery in Texas City, Texas (U.S.).
- SIBUR develops new polyethylene grade for FMCG packaging 8/13
- L&T Energy GreenTech partners with Japan’s ITOCHU for 300,000-tpy green ammonia project 8/13
- VINCI wins major contract for innovative biofuels plant in Spain 8/13
- Orlen Unipetrol to shut ethylene unit at Litvinov plant for several days 8/13
- Dangote Refinery cuts fuel price before planned sales to local Nigerian market 8/13
- Chevron Phillips Chemical completes low-viscosity PAO expansion in Belgium 8/12
