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oil major Chevron (NYSE: CVX ) and other foreign firms in Venezuela have allowed a slight recovery in oil output and exports since 2023. and European refineries. That would be an over 15% hike from almost 700,000 bpd in 2023, according to data and documents viewed by Reuters. The licenses to U.S.
The Polish energy company said all of its refineries have been supplied with non-Russian oil since March, with the final contract for Russian oil delivery from Rosneft ending June 30. Since April 2023, all of the crude processed by ORLEN’s Polish and Lithuanian refineries has been sourced from non-Russian sources, the company stated.
Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the ranking for unique job listings in May with 1,972 postings, followed by Gasoline Stations with Convenience Stores (1,447) and Petroleum Refineries (824).
Read more Oil set for steepest weekly decline in two years as risk subsides Summary : Oil was set for its steepest weekly drop (~12%) since March 2023 as Mideast risk premium evaporated, with Brent crude falling from over $80 during the 12-day conflict to $68.15. in 2023 to 46.4 This comes as California gas prices hit $4.61
âETS database v51,â European Environment Agency, May 2023. The EU Emissions Trading System regulatory framework The EU Emissions Trading System (EU ETS) regulatory framework initiated its trial phase in 2005, initially focusing on the power and heat, refinery, cement, iron, steel, glass, and pulp and paper industries.
ISOTERRA was installed in Chevron’s El Segundo Refinery in California in late 2023. The two-step process involves hydrodeoxygenation of feeds such as vegetable, algae and palm and used cooking oils, followed by dewaxing to meet cold flow property specifications. Last year ISOTERRA was selected for a SAF project in China.
Since entering full service in 2023 , the system has enabled ExxonMobil and its partners to exert greater control over Permian production flows, optimize refinery supply chains, and enhance export capabilities—solidifying its role as a cornerstone of U.S. Spanning over 640 miles with a 1.5 miles Current Permitted Mileage (2024): 521.71
Any figure above 100 represents an increase against 2021 levels, and the April figure is the highest since at least January 2023 – the March figure was just below May 2024 levels. The latest IPI figures from the Saudi statistics agency show that the IPI for the “Manufacture of coke and refined petroleum products” increased from 97.4
An oil leak in late May had forced the shutdown of the 385km pipeline connecting subsidiary Agoco’s 10,000 b/d Hamada fields on the Ghadames Block NC-8A in the west of the country to the 120,000 b/d Zawiya refinery ( MEES, 30 May ).
.- Diesel was widely expected to be the main refined products underperformer this year but, defying Trump tariffs and lower Chinese demand, the middle distillate has been shining lately as Europe struggles to keep its refinery operations steady.-
(Investing) – LONDON (Reuters) -Oil prices rose on Friday but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures were up 42 cents, or 0.6%, to $68.15 a barrel at 1328 GMT, while U.S.
million bpd, a large share of the increase was consumed domestically by its refineries as well as in power plants that use crude to generate electricity during summer’s peak demand, limiting exports. million bpd in July, the highest since April 2023. The decision by OPEC+ to unwind 2.2 million bpd in April to 6.4
Data showed that provincial emissions from venting and flaring at upstream oil facilities fell by 71 percent compared to 2015 levels, and by 13 percent compared to 2023 levels, according to a separate statement. The OGEMR annual report found that emissions from reported venting and flaring at upstream oil facilities had been reduced by 7.7
Israel’s refinery output for Q1 dropped 16% from the previous quarter to 243,500 b/d, or 82% of nameplate capacity, according to the latest filings from the country’s two refineries: the 197,000 b/d Bazan Refinery at Haifa in the north and the 100,000 b/d Ashdod Refinery in southern Israel.
utilization of refinery operable capacity rose to 95.5% last week, the highest since June 2023, data from the U.S. Refinery utilization in the U.S. Energy Information Administration showed on Wednesday. Gulf Coast region rose in the week ended July 18 to 96.1%, a one-year high, the data showed.
State-run oil giant PetroChina will shut the last remaining crude processing unit at its biggest refinery in northern China within weeks, industry sources told Reuters on Wednesday. Dalian Petrochemical, PetroChinas 410,000-barrels-per-day refinery in downtown Dalian, north China, has been shutting processing units since the end of 2023.
According to trading sources and shipping data reviewed by Reuters, the company restarted imports following a drop in Urals prices below the G7's price cap, reaching their lowest point since 2023. Tupras had previously become one of the largest buyers of Russian crude after Russia's 2022 invasion of Ukraine.
Crude oil inventories in China rose to the highest in almost three years in March, suggesting demand growth was lagging behind refinery processing rates, which hit a one-year high last month as Chinese oil processors took advantage of cheap Iranian and Russian crude. Run rates at Chinese refineries during the same month averaged
(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. The spread between the two pricing points narrowed to 23 cents in March, the lowest since November 2023.
Lyondell Basell Industries permanently shut its 263,776 barrel-per-day (bpd) Houston refinery in February, said Peter Vanacker, the company’s chief executive during a Friday conference call. 7 the company completed the shutdown of the refinery. Reuters reported on Feb.
Media Editing By Germán & Co, June 1, 2023 According to reports, the Ilyinsky oil refinery in Russia's Krasnodar region was minimally impacted by a possible drone attack. A fire incident occurred at the Afipsky refinery, spreading flames over an area of 1,000 square feet.
SALYM OIL PROJECT Shell agreed to cede its half of the Salym project to Russian partner Gazprom Neft in 2023. WESTERN COMPANIES IN RUSSIA UNIPER The Kremlin took action in April 2023 against Unipro, the Russian division of German utility Uniper, which has five power plants in Russia, by placing it under Moscows control. OMV paid 1.75
The production profile for Alaska in 2023 records 2,340 active wells, 65% of which produce more than 100 barrels of oil equivalent per day (boed). The production estimates from the Nuna and Pikka wells reported by the companies fall on the high side of the 2023 Alaskan active well distribution. Image courtesy of ConocoPhillips
Halliburton and Honeywell in advanced talks to develop oil fields and refineries in Libya; Eni importing more oil and gas from Algeria “North Africa’s massive oil-and-gas reserves and its proximity to Europe make it an attractive alternative energy supplier to Russia.
The management of the Tema Oil Refinery (TOR) has been directed by the Office of the Special Prosecutor to suspend its proposed partnership agreement with Tema Energy and Processing Limited. Although the Tema Oil Refinery has a capacity to refine 45,000 barrels of oil per day, its operations have been inconsistent.
This came during the general assembly meeting of the Middle East Oil Refinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024. Butane production also increased by approximately 40%, covering approximately 5% of local market needs, as Lotfy said.
China imported 12.15mn b/d of crude oil in March, the highest monthly figure since August 2023, and a sharp rebound from an average of just 10.4mn b/d for January and February (MEES, 21 March).
Last year exports averaged about 811,000 b/d after more than 1,000,000 b/d in 2023. And processing across Pemexs seven local refineries (nothing from its new Olmeca refinery in Dos Bocas with capacity of 340,000 b/d) was 886,787 b/d in January down seven percent from last year. Sales to U.S.
On January 27, 2023, the Louisiana Supreme Court issued a ruling involving claims for negligent infliction of emotional distress (“NIED”) absent physical damage. In Spencer , several residents sued Valero Refining Meraux, LLC (“Valero”) for NIED after an explosion occurred at the nearby Valero oil refinery in Meraux, Louisiana. [2]
The company’s marine dock received 153 tankers in 2024, compared to 63 tankers in 2023, in light of the reduction of ship berth periods. million tons in 2023. The total volume of petroleum products traded on the company’s marine dock reached 4.7 million tons in 2024, compared to 1.6
Lotfy added that local projects also included the implementation of expansions at the MIDOR refinery in Alexandria, the chlorine and hydrogen peroxide plant for El Nasr Company for Intermediate Chemicals in Abu Rawash, in addition to the agricultural greenhouse complex in El Lahoun.
Furthermore, Dr. Dzanku highlighted the ambiguity surrounding the gold’s refinery status before sale, opening avenues for mispricing and undervaluation when exchanged for oil. These factors, he asserted, create opportunities for illicit financial flows. trillion lost to money laundering.
Crocker, who has been ExxonMobil’s President/Global Business Solutions since 2023, joined the company in 1995 at the Fawley Refinery in the United Kingdom. The Board of Directors appointed Matt Crocker president, ExxonMobil Product Solutions Company and vice president Exxon Mobil Corporation. He succeeded McKee May 1.
Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. 2023 Production: ~6.0 2023 Production: ~6.0 billion in late 2023 further cemented its long-term commitment to the region. We analyze major U.S. 2024 Production: 6.3
billion in 2023, prompting cost-cutting measures, a 5% staff reduction, and slashed executive bonuses. Refinery inputs averaged 15.4 Under pressure from activist investor Elliott Management, which holds a 5% stake, BP is shifting focus back to fossil fuels, selling 10 U.S. onshore wind farms and spinning off offshore wind assets.
Downstream, Aramco intends to continue the strategic integration of its Upstream and Downstream businesses to facilitate the placement of the companys crude oil in larger offtake volumes through a dedicated system of domestic and international wholly-owned and affiliated refineries and petrochemical complexes.
For many, stealing crude oil from the pipelines and processing it at one of the many illegal refineries in the region is a means of earning a living. The government has been fighting the illicit refineries for years. Vandalism is a fact in the Niger Delta, like poverty and lack of prospects for the locals.
per barrel and WTI dropping 40 cents to $66.64, marking WTIs seventh consecutive weekly lossthe longest streak since November 2023. oil and gas industry reached $81,808 in 2024, and direct employment grew to 2,055,516 jobs, an increase of 10,694 from 2023. Market uncertainty stems from U.S. Read more New report shows U.S.A
Photo I: Oil pump jack building block model at the AVEVA World 2023 Conference, Moscone Center, San Francisco, US. To follow The Oilholic on Motley Fool click here. To email: journalist_gsharma@yahoo.co.uk Gaurav Sharma 2024. Gaurav Sharma. Photo II: Gaurav Sharma on BBC News on October 3, 2024 BBC.
Chinese crude oil imports topped 12 million barrels per day (bpd) in March, the highest volume since August 2023, as flows of Iranian and Russian crude rebounded from the lows seen early this year with the U.S. a teapot oil refinery, for purchasing and refining hundreds of millions of dollars worth of Iranian crude oil.
Calgary-based Suncors financial performance which three years ago significantly lagged that of its peers has dramatically improved under the leadership of Kruger, who was hired in 2023 to turn the companys fortunes around. Suncor also posted its best-ever first quarter for refinery throughput and sales. billion, or C$1.31
Vitols latest purchases are being made under the terms of an agreement it signed in 2023, said another person familiar with matter. The vessel VS Progress, chartered by Vitol, is set to deliver 300,000 barrels of a heavy Blend 22 oil to a refinery in Texas in coming days, according to the documents.
That was a huge increase from an average of about 7,000 bpd in the decade to 2023. A lot of Chinas refineries are also mindful of U.S. Canada shipped about 207,000 barrels per day (bpd) on average to China since the Trans Mountain expansion ramped up to full operations in June last year, ship tracking data on Kpler showed.
As for Canada, the energy exports to the US brought in $160 billion in revenue in 2023; it was 21% of what Canada gained from its exports globally. In 2023, meanwhile, electricity imports from the US were valued at $1.6 of Canadian total global imports in the same year. billion, accounting for 0.2%
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