MEIL secures third project in Mongolia
Indian-based engineering firm, Megha Engineering and Infrastructures Limited (MEIL), has clinched a significant deal in Mongolia for the construction of a crude oil refinery plant.
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Galp has reached final investment decision (FID) on two large scale projects to reduce the carbon footprint of the Sines refinery in Portugal.
ExxonMobil has announced the startup of two new chemical production units at its Baytown, Texas, US, manufacturing facility.
The EIA has reported that record volumes of crude oil were imported into China during 1H23 because of refinery expansions in the country and initiatives to reopen the economy.
As part of the drive to decarbonise its European refineries, TotalEnergies is launching a call for tenders for the supply of 500 000 tpy of green hydrogen.
The US Energy Information Administration (EIA) expects global oil inventories to decline by almost a half million bpd in 2H23.
While the oil markets have been volatile, Northwest European diesel and gasoline margins have increased to a high level during Q323, improving the total refining margin outlook for Neste’s oil products.
Production cuts among OPEC+ members are limiting availability of medium and heavy sour grades of crude oil and contributing to higher relative prices for these grades, reversing typical price relationships.
Unplanned refinery outages and lower gasoline production capacity are increasing the costs of producing summer-grade gasoline in the US.
The EIA has reported that refiners in China processed and imported record volumes of crude oil in 1H23, sourcing much of the additional crude oil runs from Russia, Iran, Brazil, and the US.
