Argus Dubai, 20 September (Argus) — Saudi Arabia’s gasoline stocks fell to more than a six year low in July as a push to keep refinery run rates low coincided with an upswing in domestic gasoline demand with the easing of Covid-19-related restrictions on movement. Gasoline demand was up 13pc to 475,000 b/d in July, from 421,000 b/d in June,
Argus State-controlled Saudi Aramco is facing delays closing its planned purchase of a stake in China’s biggest private-sector refining complex, but remains committed to the deal despite pullbacks elsewhere. Aramco signed an initial agreement in October 2018 to buy a 9pc stake in the 400,000 b/d ZPC refining complex at Zhoushan in the eastern province of Zhejiang, which is led
BIC More than a fourth of U.S. Gulf of Mexico offshore oil and gas production remains shut because of Hurricane Sally, which is creeping inland along the Alabama-Florida border, causing life-threatening flooding and cutting fuel demand in the U.S. Southeast, Reuters reported The storm made landfall near Gulf Shores, Alabama, as a Category 2 hurricane on Wednesday morning. Oil prices rose
Energy Mix The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says the four oil refineries in the country have been shut down in Port Harcourt, Warri and Kaduna. Kyari said this on Channels Television’s Politics Today programme on Wednesday. He explained that all four refineries were functioning below capacity and it had thus become necessary to
RoyalDuch Shell Oil & Gas 360 Publishers Note: Very interesting opinion piece around the oil based manufacturing of plastics. While the major oil companies are investing in renewable energy, it seems that they are not forgetting the core demand for oil and manufacturing. Interesting dichotomy for their PR efforts and their actual business actions. The world will need plastics and
HOUSTON , Aug. 28, 2020 /PRNewswire/ – CITGO Petroleum Corporation today reported n…
Argus Houston, 27 August (Argus) — Industries from Beaumont, Texas, to Lake Charles, Louisiana, are assessing damage and beginning recovery from Hurricane Laura today, the most powerful hurricane on record to hit the region. The storm came ashore near Cameron, Louisiana, about 35 miles (56km) east of the Texas-Louisiana border at 2am ET this morning as a Category 4 storm,
EIA Starting in mid-March 2020, transportation fuel demand in the United States decreased to record lows as a result of reduced economic activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19). In response to low demand and decreased profitability, as measured by crack spreads, U.S. refiners decreased inputs of crude oil to atmospheric distillation units (ADUs) and decreased
Conversion is expected to reduce the plant’s greenhouse gas emissions by 50% P…
WILLIAMSVILLE, N.Y., July 31, 2020 (GLOBE NEWSWIRE) — National Fuel Gas Company (NYSE: NFG…
Reuters Phillips 66 posted a smaller-than-expected loss on Friday as the refiner’s retail marketing business, which buys and resells petroleum products, benefited from a decline in prices following the coronavirus crisis. The unit buys refined products from others and resells them, pocketing the difference and benefiting from improved margins when prices are down. The unit also sells other specialty products,
EnergyVoice Saudi Aramco has launched a reorganisation of its downstream business with the aim of maximising value. The company expects to complete the work by the end of the year. Aramco Downstream’s senior vice president Abdulaziz M. Al Gudaimi said the new operating model “will help streamline our operations and reinforce our position as a major global energy and petrochemicals
