Refining & Petrochemicals
Refinery operations, margins, turnarounds, and petrochemical production.
Latest Refining Stories
Eni greenlights biorefining projects at Sannazzaro and Priolo refineries
Eni has approved investments for biorefining projects at its Sannazzaro and Priolo refineries in Italy, adding a combined capacity of 1.05 million tonnes per year. The Sannazzaro project will convert a hydrocracking unit to produce hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF), while the Priolo project will replace an existing steam-cracking plant. Both projects are expected to be completed by the end of 2028.
Orlen's refining gains offset impairment hit, lifting shares
Orlen reported refining gains that helped offset an impairment hit, resulting in an increase in its shares. The financial performance reflects the company's ability to manage operational challenges effectively.
Gabon addresses energy concerns regarding 2029 manganese refining deadline
Gabon has dismissed concerns regarding energy supply and its ability to meet the 2029 deadline for manganese refining. The government asserts that energy resources are sufficient to support the refining operations without disruption.
Worley Consulting analyzes refining margins
Worley Consulting provides an analysis of refining margins, highlighting current trends and market conditions affecting profitability in the refining sector. The report discusses factors influencing margins and potential impacts on operations.
Russian refining sector faces uncertainty in 2026
Russia's refining sector, the third largest globally, anticipates another challenging year marked by potential declines in throughput. Factors contributing to this uncertainty include drone attacks, emergency shutdowns, export bans on motor fuels, and changes in tax regulations.
Refining margins analyzed by Muse, Stancil and Co
Muse, Stancil and Co provides an analysis of current refining margins, highlighting trends and market conditions affecting profitability. The report details factors influencing margins, including crude oil prices and refined product demand.
India scales back domestic refining capacity expansion amid rising fuel demand
India's crude oil demand is projected to grow by 138,000 b/d in 2026, reaching an average of 5.7 million b/d. However, the government has scaled back plans for expanding refining capacity, which may lead to increased fuel imports or reduced exports. In 2025, India imported around 1.3 million b/d of fuels, representing about one-quarter of its installed refining capacity.
Refining margins expected to remain strong in 2026 amid tight products market
Refining margins are projected to remain strong in 2026 due to a significant slowdown in global downstream capacity additions. RBN Energy forecasts only 890,000 b/d of new refining capacity entering service, while 255,000 b/d of existing capacity will be taken offline, including Valero's 140,000 b/d plant in California. The gap between production and consumption is expected to widen, leading to a tight products market.
Phillips 66 reports strong Q4 earnings as refining margins rebound
Phillips 66 exceeded Q4 earnings estimates with EPS of $2.47 and net earnings of $2.91 billion, a significant increase from the previous quarter. Refining margins improved by 45% year-over-year due to tighter global supplies and high capacity utilization at 99%. The company plans a $2.4 billion capital budget for 2026 to enhance refining and midstream operations.
India's refining capacity falls short amid rising jet demand
India's aviation sector is experiencing increased demand for jets, but the country's refining capacity is not keeping pace. This mismatch could hinder the growth potential of the aviation industry in the long term due to reduced downstream expansion plans.
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