Crude Processing

Oman's recently inaugurated $9B Duqm Refinery, a joint venture between Oman's state energy firm OQ Group and Kuwait Petroleum International, is set to undergo feasibility studies for processing heavier crude grades by the year-end, according to CEO David Bird.

Recent mergers and acquisitions (M&A) in the shale business are exerting a profound impact on US refineries, introducing shifts in the competitive landscape and operational strategies within the industry.

The country's crude oil imports witnessed an 8.6% surge in Jan., totaling 88.63MM bbl., marking the fifth consecutive month of year-on-year increase.

German Economy Minister Robert Habeck recently conveyed Poland's commitment to ensuring a stable crude oil supply for the Schwedt refinery in the event of potential nationalization of Rosneft's German activities, including its majority stake.

Investor sentiment took a hit as bp's Whiting refinery, the largest in the US Midwest, suffered a sudden shutdown on Feb. 1 due to a site-wide electricity failure.

ExxonMobil's recent completion of the Baton Rouge Refinery Integrated Competitiveness (BRRIC) project, a $240MM initiative, reflects a calculated move to modernize the century-old Louisiana facility by prioritizing the processing of a diverse range of crude oils.

Oil prices, tethered to biofuel quotas, wield substantial influence in establishing the baseline for key food item prices, contributing to the current surge in food prices.

Phillips 66's Rodeo, California refinery is poised to play a pivotal role in the anticipated surge of renewable diesel (RD) production.

The refining companies find themselves at a crossroads as they navigate the delicate balance between supporting an energy transition and sustaining profits from traditional petroleum refining.

UK energy major’s recent announcement regarding the conversion of its Wesseling refinery in Germany marks a strategic move in response to the evolving landscape of the energy transition.