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Nigerias Dangote PetroleumRefinery has suspended sales of petroleum in the country after it stopped receiving naira-denominated crude cargoes from the state-owned Nigerian National Petroleum Company (NNPC). To date, our sales of petroleum products in naira have
Iraqs government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily.
Saudi Arabias oil revenues have been suffering from the oil price slump during the second quarter. While Saudi Arabia has been restricting crude oil production and exports as part of the OPEC+ deal, it has been running refineries at near-record levels this year and exporting record-high volumes of refined petroleum products.
Weekly Crude Oil Storage as of June 6, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 Summary of weekly petroleum data for the week ending June 6, 2025 U.S. crude oilrefinery inputs averaged 17.2 crude oil imports averaged 6.2
refinery crude oil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 Motiva Enterprises’ Port Arthur, Texas, plant became the largest single refinery by capacity at 640,500 bpd, passing Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, according to [Read more]
April 9, 2025 Subscribe now IN DETAIL US crude oil inventories rose by 2.553 mb to 442.3 US Strategic Petroleum Reserves grew by 0.276 mb to 396.7 The EIA estimated US oil demand at 19.481 mb/d, down 0.641 mb/d from the prior week. mb last week, per the EIA (Figure 1). Cushing inventories declined by 0.681 mb to 25.759 mb.
Chinas Geo-Jade Petroleum has signed a swathe of major contracts that give Beijing control over Iraqs first fully integrated energy project. It also includes the construction of a 520,000-tonne annual capacity fertilizer plant, developing a
As geopolitical tensions escalate, energy professionals are closely monitoring the situation’s impact on oil prices, market dynamics and long-term industry outlook. Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month.
Weekly Crude Oil Storage as of May 30, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 4.3 Summary of weekly petroleum data for the week ending May 30, 2025 U.S. Refineries operated at 93.4% crude oil imports averaged 6.3 million barrels, U.S.
Pertamina has been importing Russian crude oil 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
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., Canada, the United Kingdom (U.K.), Ireland and Latin America. Canada and the U.K.
Weekly Crude Oil Storage as of March 14, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 1.7 Summary of weekly petroleum data for the week ending March 14, 2025 U.S. crude oilrefinery inputs averaged 15.7 Refineries operated at 86.9%
Weekly Crude Oil Storage as of May 16, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 1.3 Summary of weekly petroleum data for the week ending May 16, 2025 U.S. crude oilrefinery inputs averaged 16.5 Refineries operated at 90.7%
Weekly Crude Oil Storage as of May 9, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 4.0 Summary of weekly petroleum data for the week ending May 9, 2025 U.S. crude oilrefinery inputs averaged 16.4 Refineries operated at 90.2%
Weekly Crude Oil Storage as of May 2, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.0 Summary of weekly petroleum data for the week ending May 2, 2025 U.S. crude oilrefinery inputs averaged 16.1 million barrels from the previous week.
Weekly Crude Oil Storage as of April 25, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.7 Summary of weekly petroleum data for the week ending April 25, 2025 U.S. crude oilrefinery inputs averaged 16.1 Refineries operated at 88.6%
Weekly Crude Oil Storage as of April 18, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.2 Summary of weekly petroleum data for the week ending April 18, 2025 U.S. crude oilrefinery inputs averaged 15.9 Refineries operated at 88.1%
Weekly Crude Oil Storage as of April 11, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.5 Summary of weekly petroleum data for the week ending April 11, 2025 U.S. crude oilrefinery inputs averaged 15.6 Refineries operated at 86.3%
Weekly Crude Oil Storage as of April 4, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 2.6 Summary of weekly petroleum data for the week ending April 4, 2025 U.S. crude oilrefinery inputs averaged 15.6 Refineries operated at 86.7%
Weekly Crude Oil Storage as of March 28, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 6.2 Summary of weekly petroleum data for the week ending March 28, 2025 U.S. crude oilrefinery inputs averaged 15.6 Refineries operated at 86.0%
Weekly Crude Oil Storage as of March 21, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.3 Summary of weekly petroleum data for the week ending March 21, 2025 U.S. crude oilrefinery inputs averaged 15.8 Refineries operated at 87.0%
Weekly Crude Oil Storage as of March 7, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 5.7 Summary of weekly petroleum data for the week ending March 7, 2025 U.S. crude oilrefinery inputs averaged 15.7 Refineries operated at 86.5%
Weekly Crude Oil Storage as of February 28, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 3.6 Summary of weekly petroleum data for the week ending February 28, 2025 U.S. crude oilrefinery inputs averaged 15.4 Refineries operated at 85.9%
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.
(World Oil) –MOL has discovered a new oil field near Somogysmson in Western Hungary. During the exploration drilling carried out in December 2024, oil was found at a depth of 1,250 meters. As a landlocked country, our oil supply is largely via pipelines and intermediaries, added Dr. Gyrgy Bacsa, COO of MOL Hungary.
” The global oil market has been rocked in recent months by the move from eight core OPEC+ nations to relax supply restraints at a faster-than-expected pace, potentially adding supplies just as trade frictions menace demand. OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! Still, increases may yet be forthcoming.
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.
(World Oil) –Nigerian President Bola Tinubu hired the former head of a unit of Shell Plc to run the state oil company, as Africas biggest crude producer works to boost output and prepare the firm for an initial public offering. Bashir Ojulari will replace Mele Kyari as head of NNPC Ltd.
Iraq's South Refineries Company (SRC) is nearing the completion of its Fluid Catalytic Cracking (FCC) project, with 98% of the work done. Deputy Prime Minister and Minister of Oil, Hayan Abdul Ghani, emphasized the importance of boosting production to achieve self-sufficiency in petroleum products during his visit to the site.
The Iraqi Ministry of Oil has announced plans to expand Maysan [Missan] Refinery by adding a new refining unit with a capacity of 70,000 barrels per day (bpd), increasing the refinery's total output to 110,000 bpd. The Deputy Minister called on refinery staff to ensure efficient operations and uninterrupted fuel supply.
Kirkuk Governor Ribwar Taha Mustafa has signed a contract for the construction of the Kirkuk Refinery , which has a planned production capacity of 70,000 barrels per day (bpd). The refinery will be built by Sulaymania-based Rania Group , and will reportedly cost around $2 billion. By John Lee.
(Oil & Gas 360) – Supply Expectations High And Demand Expectations Low, Running Counter To U.S. The price of WTI crude oil back below $60 reflects much fear plus news that OPEC+ will increase production. Oil bearishness is helped by the increase in total U.S. crude oil inventory since early January.
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.
OPEC oil output fell in March ahead of a scheduled output hike, a Reuters survey found, as Nigeria curbed deliveries to domestic refineries and Iranian and Venezuelan supply dropped on renewed U.S. The Organization of the Petroleum Exporting Countries pumped 26.63 attempts to curb the flows.
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
Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. Pemex produced crude oil and condensate of 1.62 appeared first on Permian Basin Oil and Gas Magazine.
This came during the general assembly meeting of the Middle East OilRefinery (MIDOR), attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to discuss and review the companys fiscal year results in 2024.
Consumption of petroleum-based refined products is declining due to a host of factors including increased renewable diesel (RD) usage, slowing population growth, electric vehicle (EV) penetration and fuel efficiency improvements, just to name a few, but thats only half the story.
(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 oilrefinery and steam cracking units, enabling the production of ethylene and propylene.
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.
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). Oil Minister Hayan Abdul Ghani described the deal as a strategic leap in developing Iraq's oil wealth and supporting the national economy.
As winter approaches, the interplay between refinery activity, import volumes, and demand for refined products will be crucial. crude oil inventories grew by 545,000 barrels last week to reach 430.3 Adding to the intrigue, oil held in the Strategic Petroleum Reserve (SPR) rose by 1.4 crude oil production fell to 13.2
Petroleum Refining Natural gas is heavily used in the oil and gas industry itself. Refineries rely on natural gas to generate hydrogen, which is used to remove sulfur from fuels like gasoline and diesel, making them cleaner-burning and more environmentally friendly.
The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration.
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