Refining & Petrochemicals
Refinery operations, margins, turnarounds, and petrochemical production.
Latest Refining Stories
Chevron sells 50% stake in Singapore Refining Company to Eneos for $2.2 billion
Chevron has sold its 50% interest in Singapore Refining Company to Eneos for approximately $2.2 billion. The deal includes additional Chevron assets in Southeast Asia and Australia, aligning with Eneos' expansion strategy. This sale is part of Chevron's broader initiative to streamline its global operations and reduce costs, including significant workforce reductions.
Russia's western oil exports reach 8-month high amid refining disruptions
Russia's western oil exports have increased to an 8-month high due to disruptions in refining caused by drone strikes. The rise in exports comes as the country navigates challenges in its refining capacity.
Worley Consulting analyzes refining margins
Worley Consulting provides insights into current refining margins, highlighting trends and factors affecting profitability in the refining sector. The analysis covers various market dynamics that influence margins and operational efficiency.
Analysis of gasoline prices and refining capacity constraints
The article discusses the divergence between crude oil and gasoline prices, emphasizing the impact of refining capacity constraints and geopolitical disruptions. It highlights that high gasoline prices are not solely due to crude oil prices but are influenced by a complex supply chain and refining limitations. The author warns against misdiagnosing the issue and suggests that improving system capacity is essential for addressing high fuel costs.
TEADIT solves oversized gasket challenges for refining facility
TEADIT® developed a tailored production process for oversized kammprofile gaskets exceeding 12 feet in diameter for a large refining facility. The solution involved reconfiguring manufacturing space and implementing specialized handling systems to ensure precision and durability. This approach reduced lead times and simplified logistics for the facility.
Iran, Ukraine wars impact oil refining output significantly
The ongoing conflicts in Iran and Ukraine have severely affected global oil refining output, marking the worst impact in years. These geopolitical tensions have disrupted supply chains and reduced refining capacity in affected regions.
Cenovus boosts thermal output; Suncor increases refining capacity in Canada
Cenovus Energy's thermal in-situ production averaged 1.69 million bbl/day in April, down from March due to maintenance. Suncor Energy increased refining capacity by 40,000 bbl/day across three refineries, raising Canada's total crude processing capacity to 1.93 million bbl/day, the highest since 2020.
Eni expands biorefining capacity in response to demand drivers
Eni's Enilive satellite, which manages the company's biofuel production assets, is focusing on expanding biorefining capacity. The strategy aims to integrate agri-feedstock to meet increasing demand for clean fuels driven by policy changes and geopolitical factors.
PETRONAS acquires Aramco's stake in Malaysian refining assets
PETRONAS has agreed to acquire Aramco's 50% stake in the PRefChem joint venture, gaining full control over a 300,000-b/d integrated refining and petrochemical complex in Johor, Malaysia. This acquisition aims to enhance operational flexibility and energy security for PETRONAS while allowing Aramco to optimize its downstream portfolio. The transaction is subject to customary closing conditions.
Russian refining throughput hits 17-year low due to drone attacks
Russia's refining throughput in April fell to its lowest level since 2009, impacted by drone strikes on key refineries and export facilities. This significant decline reflects disruptions in the refining sector due to ongoing conflict.
Refining margins analyzed by Muse, Stancil and Co
Muse, Stancil and Co provide an analysis of current refining margins, highlighting trends and factors influencing profitability in the refining sector. The report discusses various market dynamics affecting refining operations and margins.
Global refining activity declines to lowest level since 2020
Global refining activity fell sharply in April, reaching the lowest levels since the Covid-19 pandemic. Current oil product consumption is 12 million barrels per day higher than six years ago, leading to a significant draw on product inventories. This situation is expected to keep refineries busy for months, indicating a sustained period of high margins for global refining.
Russian refining runs decline further in May due to drone attacks
Russia's refining runs fell further in May, following a drop to 17-year lows in April. Persistent drone attacks on major facilities significantly impacted the country's downstream sector.
Petrovietnam Refining advances digital transformation at Dung Quat refinery
Petrovietnam Refining and Petrochemical Corp. has signed an agreement with AVEVA Software to enhance digital transformation at its Dung Quat refinery. The partnership aims to implement advanced technology platforms to support the refinery's Smart Refinery roadmap, focusing on areas like AI integration, predictive maintenance, and operational optimization. BSR targets a digital transformation maturity level of 4.5-5 by 2028-30.
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