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refinery crude oil 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.
The ongoing conflict between Israel and Iran continues to send shockwaves through global energy markets. Recent strikes on Iranian energy infrastructure by Israel have heightened concerns about supply disruptions and price volatility. Strategic Petroleum Reserve is depleted by 200 million barrels to 2021.
The worlds largest crude oil exporter, Saudi Arabia, and the third biggest importer, India, agreed on Wednesday to enhance cooperation in the energy sector, including in crude oil and petroleum products supply and the construction of two refineries. In energy, India agreed to
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 petroleumrefineries located in the U.S., Valero continues to evaluate strategic alternatives for its remaining operations in California.
US Strategic Petroleum Reserves grew by 0.276 mb to 396.7 Refinery utilization rose from 86% to 86.7%, with gross crude inputs increasing from 15.689 mb/d to 15.912 mb/d. April 9, 2025 Subscribe now IN DETAIL US crude oil inventories rose by 2.553 mb to 442.3 mb last week, per the EIA (Figure 1). Gasoline inventories fell by 1.6
Al-Sudani has announced that Iraq's refining capacity will soon reach 1,542,000 barrels per day (bpd) following the expansion of key refineries. During a visit to Maysan province, the Prime Minister inaugurated the Maysan [Missan] Refinery Development Project , which will increase its capacity from 40,000 to 110,000 bpd.
The Organization of Petroleum Exporting Countries (OPEC), + other world exporters announcing Monday, that production limits will be increased 411,000 barrels per day in June deflated the spot market price of West Texas Intermediate (WTI) crude oil back below $60 per barrel (Figure 1, red line). Contact Energy Directions for the full report.
Al-Sudani has overseen the signing of an $800-million contract for the expansion of Al-Diwaniya Refinery , adding a 70,000 barrel-per-day (bpd) atmospheric distillation unit to raise total capacity to 90,000 bpd. It will also facilitate the Al-Shanafiyah power plant, secure petroleum product supplies, and generate employment.
Minister of Petroleum and Mineral Resources Karim Badawi attended the General Assembly meeting of the Middle East Oil Tankage & Pipelines (MIDTAP) company to discuss its 2024 performance. The total volume of petroleum products traded on the company’s marine dock reached 4.7 million tons in 2024, compared to 1.6
Morgan Stanley based its conclusions on a slew of data points, including refinery throughput, cargo exports, pipeline flows, and indications of stockpiling, as well as estimates for production from six different providers. We’d love to hear from you, join the conversation on the Rigzone Energy Network.
Ojulari most recently served as chief operating officer of Renaissance Africa Energy Co., Kyari was the longest-serving CEO of the NNPC, which become a company in 2021 under a new petroleum law passed by the West African nations government. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd.
Iraq's Ministry of Oil has signed a major contract for the South Basra Integrated Project with a consortium comprising China's Geo-Jade Petroleum and Iraq's Crescent Basra (Hilal Al-Basra). Constructing a high-specification refinery with a capacity of 200,000 bpd. By John Lee. Developing a thermal power plant generating 650 megawatts.
The West Coast energy market, PADD 5, is undergoing a profound transformation. 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.
Environmental Protection Agency, over 1,500 industrial buildings utilize cooling towers to cool power plants, petrochemical plants, natural gas processing plants, petroleumrefineries and food processing plants. According to the U.S. Due to their.
As one of the most efficient and widely used energy sources in the world, natural gas powers industries, fuels vehicles, and even plays a role in everyday products. Thanks to its efficiency and lower carbon emissions compared to coal, natural gas is a key player in the transition to cleaner energy.
Minister of Petroleum and Mineral Resources Karim Badawi witnessed the proceedings of the General Assembly meeting of the Egyptian Company for Operation and Maintenance of Projects (EPROM) to review its 2024 business performance. The post EPROMs 2024 Net Profits Reached EGP 1.096B first appeared on Egypt Oil & Gas.
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.
(CNCEC), ENPPI, and Petrojet, in the presence of Prime Minister Mostafa Madbouly and the Minister of Petroleum and Mineral Resources, Karim Badawi. It is designed to produce a range of petrochemical products through an advanced oil refinery and steam cracking units, enabling the production of ethylene and propylene.
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 energy exports. Refinery inputs averaged 15.4 Total petroleum inventories increased by 0.2
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.
In response, the industry is seeing a varying degree of investments in renewable energy and commitments to climate-related goals. As companies make this transition into renewable energy, one sector picking up speed is wind energy. The wind energy sector is gaining global traction, as exemplified by U.K.
Downstream, Aramco made progress in capital projects such as the construction of the refinery-integrated petrochemical steam cracker being developed by S-OIL, the Amiral expansion at the SATORP refinery, and other projects. Aramco president & CEO Amin H.
As winter approaches, the interplay between refinery activity, import volumes, and demand for refined products will be crucial. Energy Information Administration (EIA). Adding to the intrigue, oil held in the Strategic Petroleum Reserve (SPR) rose by 1.4 In contrast, crude oil refinery inputs dropped by 281,000 bpd to 16.2
In response, the industry is seeing a varying degree of investments in renewable energy and commitments to climate-related goals. As companies make this transition into renewable energy, one sector picking up speed is wind energy. The wind energy sector is gaining global traction, as exemplified by U.K.
District Court Judge Dee Drell (Western District, LA) recently denied a motion to alter or amend the Court’s judgment against CITGO Petroleum Corp.– Charles refinery. CITGO Petroleum Corp., CITGO Petroleum Corp., See Environmental Enforcement Results for 2015 , 2015 ABA Env’t Energy, & Resources L.:
By Greg Johnson and Stephen Wiegand In a July 17, 2013 decision, the United States Court of Appeals for the Fifth Circuit vacated a $6 million dollar penalty levied under the Clean Water Act (“CWA”) against CITGO Petroleum Corporation (“CITGO”) and remanded the matter to the Western District of Louisiana for further consideration.
Investors following the news over the weekend might've expected more of the same Monday, especially after learning that Israel attacked Iranian energy infrastructure. Iran's missile strikes also damaged an oil refinery in Haifa, the Times of Israel reported. Energy Information Administration.
Occidental Petroleum & Ecopetrols Partnership: Occidental Petroleum (Oxy) continued to expand its Permian operations through a joint venture with Colombian oil company Ecopetrol. While the region's mature fields are declining, new projects are helping stabilize production and extend the Gulfs viability as a key energy source.
Investors await monthly reports from the International Energy Agency and OPEC for demand and supply forecasts amid ongoing geopolitical tensions. energy chief to seek $20 billion to refill oil reserve, Bloomberg reports Summary : U.S. energy industry. energy industry. Market uncertainty stems from U.S. In response, U.S.
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 This comes amid a marked increase in refining margins, and should enable Saudi Arabia to cash in on the strong prices. in January to 116.6 in March and 123.5 All rights reserved.
Parsons”) from 1975 through 1977 when he worked on the initial construction of Marathon Petroleum Company LP’s (“Marathon”) oil refinery in Garyville, Louisiana. Thus, Plaintiffs claimed that since Mr. Steib worked for Parsons on the Marathon refinery construction, this evidence established Mr. Steib was exposed to asbestos.
Parsons”) from 1975 through 1977 when he worked on the initial construction of Marathon Petroleum Company LP’s (“Marathon”) oil refinery in Garyville, Louisiana. Thus, Plaintiffs claimed that since Mr. Steib worked for Parsons on the Marathon refinery construction, this evidence established Mr. Steib was exposed to asbestos.
Citgo Petroleum Corp., In what may be considered a warning shot to overzealous federal prosecutors looking to obtain criminal convictions under the Clean Air Act (“CAA”) or the Migratory Bird Treaty Act (“MBTA”), the Court of Appeals reversed criminal convictions against Citgo related to violations of both Acts at its Corpus Christi refinery.
(BOE Report) – Canadas second-largest oil producer Suncor Energy said on Wednesday a recent cost-cutting campaign had set it up well to weather lower global oil prices, but did not rule out reducing capital spending next year if weaker economic conditions persist. billion ($4.43 billion) to C$6.3 billion next year. billion, or C$1.31
This has domestic drawbacks, with Midwest refineries facing higher feedstock costs from Canadian oil dependency, and coastal refineries seeking new suppliers. Canada imports about 500 kb/d of petroleum products, as shown in Figure (3). Tariffs are affecting the entire energy complex, including natural gas and fertilizers.
US President Trumps visit to the Middle East has the potential for significantly impacting oil markets, according to energy consultancy Rystad Energy Brent oil is hovering around US$65/bbl, buoyed by progress made on US-China trade negotiations, which have also eroded some demand side pessimism.
last week against a Chinese independent oil refinery that it alleges processed Iranian crude, ramping up pressure on Tehran. Gold prices rose to another record, with jitters rippling into energy markets due to concerns about demand, according to analysts. .” The progress follows further sanctions by the U.S.
However, China has previously prohibited these majors from directly importing Iranian and Russian oil, while encouraging independent refineries, unconnected to the U.S. More on this topic: The axis of evasion: Behind China’s oil trade with Iran and Russia Iran’s Petroleum Exports to China and U.S. or Europe, to do so.
The Keystone Pipeline is a system of petroleum pipelines designed to transport crude oil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S energy security, and oil prices. [7]. Proponents of the project point to its potential economic and energy security benefits as reasons for its approval.
Background The Keystone Pipeline is a system of petroleum pipelines designed to transport crude oil from fields in Alberta, Canada and ultimately terminating at refineries on the U.S energy security, and oil prices. [7] Constitution. Gulf Coast. 8] This time, the permit was approved within two months, on March 23, 2017. [9]
Resources across energy and mining could see substantial downstream effects. Imports from other emerging economies could also grow, albeit from a smaller baseâfor example, energy from the Middle East. 6 âRoadmap to fully end EU dependency on Russian energy,â European Commission , May 6, 2025.
President Trump has been signing numerous executive orders since his inauguration on January 20, with a notable focus on energy policy. One significant action includes declaring a national energy emergency, which has profound implications for both the U.S. and global energy sectors.
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