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BP sees lower oil prices denting Q2 profit

Oil & Gas 360º

per barrel in the second quarter compared to $75.73 a barrel in the first quarter 2025, the company said. Brent oil prices averaged $67.88 BP’s gas and low carbon energy segment is seen posting realizations up to $300 million lower versus the prior quarter, including changes in non-Henry Hub natural gas marker prices.

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Indonesia Doubles Capacity of New Refinery Projects to 1 Million Bpd

OilPrice

Indonesia is doubling to 1 million barrels per day (bpd) the planned capacity of the new refineries it will build in an effort to boost its energy security and downstream industry.

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U.S. Drillers Double Down on Location Economics

OilPrice

Oil Refiners Fear Trade Wars Will Hit Them Soon - Q1 2025 results of downstream-focused majors have been in stark contrast with how bearish the market remains on the future of refining, with the past years demand growth jeopardized by trade wars. per barrel a year ago. - per barrel a year ago. -

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Phillips 66 Achieves Milestone in Expanding Renewable Diesel Output

NGT News

Downstream energy provider Phillips 66 has achieved a major milestone in its conversion of its San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel.

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Russian Fuel Flows Decline to Lowest in 8 Months on Baltic Slump

Rigzone

Seaborne shipments of refined fuels totaled 2 million barrels a day in the first 20 days in June, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. Naphtha shipments dropped 15% to 322,000 barrels a day, the lowest this year. Flows declined by 16% to 537,000 barrels a day.

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Dangote Plans to List Africa's Biggest Oil Refinery by Next Year

Rigzone

The oil facility can processes 650,000 barrels of crude a day, making it the continent’s biggest refinery. Nigeria’s downstream regulator and fuel marketers have accused Dangote of seeking to become a monopoly with his new refinery.

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I Left My (Crude) In San Francisco - What is Driving PADD 5's Increased Reliance on Imported Crude?

RBN Energy

Further upping the stakes, crude oil production in the region has declined faster than downstream consumption, so it has had to increasingly rely on imported barrels to support its dwindling refinery throughput.