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Last month, Saudi Arabia and India agreed to boost energy cooperation, including by potential Saudi investment in two refineries in the worlds third-largest crudeoil importer. At the end of April, Saudi Arabia and India agreed to enhance cooperation in the energy sector, including
India is advancing efforts to boost renewable energy use even as the worlds third-largest crudeoil importer is leading global oil demand growth. Indian Oil Corporation, the countrys top refiner, plans to replace fossil fuel-made hydrogen with green hydrogen made from electrolysis at one of its refineries.
refinerycrudeoil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 Energy Information Administration said on Friday. million bpd, the U.S.
Phillips 66, a diversified energy manufacturing and logistics company, says it plans to reconfigure its San Francisco refinery in Rodeo, Calif., The plant would no longer produce fuels from crudeoil but instead would make fuels from used cooking oil, fats, greases and soybean oils.
The worlds largest crudeoil exporter, Saudi Arabia, and the third biggest importer, India, agreed on Wednesday to enhance cooperation in the energy sector, including in crudeoil and petroleum products supply and the construction of two refineries. In energy, India agreed to
commercial crudeoil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 5.8 commercial crudeoil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 5.8 Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
Prices were also supported by multiple oil inventory reports that showed strong draws in middle distillates, said Tamas Varga, a PVM Oil Associates analyst. Energy Information Administration on Wednesday showed crudeoil and fuel inventories fell a week earlier, with refining activity and demand rising.
(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. crude futures. refinery utilization stood at 85.6% crude exports in 2024.
(Oil Price) –U.S. refining giant Phillips 66, which will close its LA refinery later this year, will lay off in December most of the workers at the plant, Reuters reports , citing sources with knowledge of the plans. Phillips 66s LA refinery will not be the only one to cease operations in California soon.
Jones (R-San Diego) sent a letter to Governor Gavin Newsom sounding the alarm over what could become an energy and economic crisis in the state. per gallon if two major refineries are allowed to shut down as planned. These numbers assume stable crudeoil prices. Professor Misches projections are stark.
(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crudeoil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Image courtesy of ConocoPhillips
billion was recorded for the Benicia and Wilmington refineries, and is expected to be treated as a special item and excluded from first quarter 2025 adjusted earnings. Valero owns 15 petroleum refineries located in the U.S., Valero continues to evaluate strategic alternatives for its remaining operations in California.
Pertamina has been importing Russian crudeoil complying with the Western sanctions, a top official at Indonesias state energy firm said on Wednesday. The company imports Russian crude for its domestic refineries and complies with the sanctions imposed on Russian
(Oil & Gas 360) – Expectations And Oil Prices Have Bottomed With Heading-UP-To-Summer And Much Needing To Be Done Increasing With The Tariff Strategy. Cold air tugged the price of West Texas Intermediate (WTI) crudeoil up above $80 per barrel mid-January (Figure 1, red line). crudeoil inventory.
The price of WTI crudeoil back below $60 reflects much fear plus news that OPEC+ will increase production. While price expectations are extra depressed, crudeoil inventory at Cushing (where futures contracts are delivered) is down extra low. Oil bearishness is helped by the increase in total U.S. By oilandgas360.com
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).
April 9, 2025 Subscribe now IN DETAIL US crudeoil inventories rose by 2.553 mb to 442.3 US crude imports decreased by 277 mb/d to 6.189 mb/d last week. US crude imports decreased by 277 mb/d to 6.189 mb/d last week. Crude exports fell by 0.637 mb/d to 3.244 mb/d. mb last week, per the EIA (Figure 1).
crudeoil stockpiles fell unexpectedly last week on higher export and refinery demand, while gasoline drew down for a ninth straight week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels to 440.4
crudeoil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.4 million barrels to 435.2
(Investing) –The United States reached separate deals on Tuesday with Ukraine and Russia to halt attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow. SAKHALIN-2 OIL AND GAS AND LNG PROJECT Kremlin-controlled energy giant Gazprom (MCX: GAZP ) in 2024 acquired a 27.5%
The Minister of Energy of Indonesia Bahlil Lahadalia announced that the country is to build oilrefineries on several of its islands, including Kalimantan and Sulawesi, with a total capacity of 1 million barrels per day (mmbbl/d) increasing from 500,000 b/d, Reuters reported.
Plate heat exchangers (PHEs) are commonly used in oil and gas refineries for a variety of applications, including heat recovery, preheating of feedstock, cooling of product streams, and intercooling of gases. The plates are typically made of stainless steel or titanium, which are resistant to the corrosive effects of oil and gas.
Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity. million tonnes for Slovakia and 6.2
Administration imposed a 25% tariff on all imported goods from Mexico and Canada, with the exception of a 10% tariff on Canadian energy imports. Mexico has seen its total oil exports drop off in recent years due to Pemex struggling with the worst decline in production in decades. Energy Information Administration (EIA).
The West Coast energy market, PADD 5, is undergoing a profound transformation. Further upping the stakes, crudeoil 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.
Block 15-1 provides stable crudeoil to the domestic market through the Dung Quat OilRefinery, and also brings natural gas to serve the gas industry in the Southeast region, making it “one of the strategic pillars [of] the national energy system,” Petrovietnam said.
Based on the well tests carried out prior to March 2025, the well is currently proven to be capable of producing 1,200 bpd, which is transported by truck to the Danube Refinery in Szzhalombatta. This new discovery will also help meet the country’s energy needs. MOL has ambitious E&P investment plans.
Carina Voyager was bound for Chevrons Pascagoula refinery in Mississippi, while Dubai Attraction was scheduled to transfer its cargo to a Valero Energy-chartered vessel off Aruba, according to the data and sources. A third vessel, the Pegasus Star, was suspended a window to load this week, the sources added.
Californias relentless wildfires are not only devastating homes and businesses but also putting the regions critical energy infrastructure in jeopardy. ENERGY INFRASTRUCTURE AT RISK The ongoing fires have raised alarms about their impact on crudeoil, gasoline, diesel, and natural gas supplies.
Tolls are beginning to fall in Frances energy sector with the lingering strike action by protesting workers. An extension of the current strikes at Frances Le Havre port has cut off crudeoil deliveries to ExxonMobils nearby Port Jerome refinery, according to the CGT trade union.
That limits the need for refinery capacity, which matches the regions average annual consumption and is only outstripped in the summer months. In todays RBN blog, well look at how PADD 4 dispenses these barrels and its role in balancing continental crudeoil supply and demand.
Ojulari most recently served as chief operating officer of Renaissance Africa Energy Co., A gradual rise in output with companies including Shell announcing a $5 billioninvestmentin offshore production in December and the restart of two of the states long-dormant refineries have offered encouraging signs for the industry.
and Russia prepare for peace talks on Ukraine, with potential impacts on oil sanctions and seaborne shipments. Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2
What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crudeoil and natural gas from underground reservoirs. Midstream activities involve the transportation, storage, and wholesale marketing of oil and gas. This includes both onshore and offshore activities.
Will rising imports and weak demand keep crude prices under pressure, or is a rebound on the horizon? As winter approaches, the interplay between refinery activity, import volumes, and demand for refined products will be crucial. crudeoil inventories grew by 545,000 barrels last week to reach 430.3 million barrels.
The oil and gas sector has long been a cornerstone of the global economy, providing energy, raw materials, and substantial economic contributions. The benefit here lies in the high profitability associated with discovering and producing new oil and gas fields, especially when oil prices are high.
AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency. AI-powered systems can fine-tune extraction techniques, monitor pipeline integrity, and adjust refinery processes to maximize output while reducing the risk of inefficiencies.
The midstream energy sector is undergoing a transformative shift. This “Wellhead to Water” strategy is particularly evident in the Permian Basin, where crudeoil, natural gas, and natural gas liquids (NGLs) production is growing rapidly. ” Energy Transfer (ET) Who Are the Key Players? Why the Permian?
Theres a lot to like about the Uinta Basins waxy crude, but ramping up its production and use in refinery feedstock slates will require multimillion-dollar investments in rail terminals, special rail cars, heated storage, refinery equipment and other midstream and downstream infrastructure.
Driven by rising seasonal demand and geopolitical uncertainty, global oil markets could see tighter balances this summer, despite a projected surplus of supply in 2025, according to Rystad Energy This year, global liquids demand is expected to grow modestly by 700,000 barrels per day (bpd), while supply surges by 2.2 Of this, 1.8
mmbpd, including water injection operations to support the reservoir and crudeoil production continued for the Dammam development project, and procurement and construction activities advanced for the Marjan and Berri and Zuluf crudeoil increments. The company progressed increment projects to maintain MSC at 12.0
Minister of Petroleum and Mineral Resources Karim Badawi held meetings with Clay Neff, President of Chevron International Exploration and Production, and Dong Sub Kim, President & CEO of Korea National Oil Corporation (KNOC), focusing on investments and capacity building.
Nasser, Aramcos president and CEO, noted that Aramco has made significant strides during the year on a number of projects and initiatives aimed at reinforcing its upstream pre-eminence, further integrating its downstream portfolio and developing the new energies business.
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