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Refining

All articles tagged with #refining

Refining bottleneck turns oil surplus into a gasoline crisis
business7 days ago

Refining bottleneck turns oil surplus into a gasoline crisis

Despite ample crude supply, the global risk now lies in refining capacity for fuels like gasoline. War-related damage to refineries, strikes, and production shifts have constrained processing, with global refineries output about 8.4 million barrels per day below prewar levels. China’s reduced refinery activity, U.S. and Russia energy moves, and ongoing Hormuz traffic disruptions mean gasoline and diesel shortages persist even as crude can flow to where it’s needed, keeping fuel prices higher for longer.

via CNN|
#business#gasoline#iran
India and Venezuela deepen energy ties as Gulf oil disruption tightens markets
world1 month ago

India and Venezuela deepen energy ties as Gulf oil disruption tightens markets

India and Venezuela unveiled plans to deepen energy cooperation, with Caracas naming New Delhi a preferred partner as Middle East–related oil disruptions tighten global supplies; Rodriguez’s New Delhi visit will include refinery tours and talks on upstream and downstream projects, while India remains a major buyer of Venezuelan crude amid sanctions-era arrangements and Western supply pressures.

via Reuters|
#energy#india#oil
Jet-Fuel Crunch Lifts European Long-Haul Fares Amid Iran War
world3 months ago

Jet-Fuel Crunch Lifts European Long-Haul Fares Amid Iran War

The Iran war has cut Europe’s jet-fuel imports while aging refineries and growing reliance on Middle East kerosene leave Europe vulnerable to shortages, sending long-haul flight prices higher—estimates from Transport & Environment place the increase around $105 (90 euros) per flight. Analysts warn Europe could face weeks of jet-fuel constraints, with Northwest Europe most exposed as more U.S. cargoes head to Asia, underscoring aviation’s vulnerability to fossil fuel supply disruptions.

via Crude Oil Prices Today | OilPrice.com|
#aviation#energy-security#europe
Venezuela's Oil Sector Faces Uncertain Future Amid Political Changes
energy6 months ago

Venezuela's Oil Sector Faces Uncertain Future Amid Political Changes

The potential normalization of Venezuelan oil exports under U.S. influence could benefit U.S. Gulf Coast refiners by providing more heavy sour crude, while posing long-term competition to Canadian heavy crude producers, potentially impacting their market share and margins. Immediate effects are limited, but the geopolitical shift could reshape global heavy crude markets over time.

via Barron's|
#canadian-crude#energy#oil-industry
"Unlocking the Potential: Exploring the World of Graphite Mining and Refining"
science-and-technology2 years ago

"Unlocking the Potential: Exploring the World of Graphite Mining and Refining"

Graphite, a versatile and valuable mineral, is used in various industrial processes and is increasingly important in the decarbonization of transportation. It is commonly found in flake or amorphous form and has unique properties such as lubricity and high melting point. Graphite mining involves open-cast mines and flotation processes to separate the graphite from the surrounding rock. Natural graphite production is dominated by China, while synthetic graphite is produced through high-temperature processes using petroleum coke. However, synthetic graphite is more expensive than natural graphite. As the demand for graphite continues to grow, there is a need for more sustainable extraction and refining methods.

via Hackaday|
#batteries#graphite#industrial-processes
business2 years ago

Oil Giants Exxon and Chevron Report Disappointing Q3 Profits Amidst Acquisition Focus

Exxon Mobil Corp. and Chevron Corp. reported disappointing profits due to weak performances in their oil-refining and chemical businesses. Exxon fell just short of third-quarter expectations, while Chevron missed by a larger margin. Both companies attributed their underperformance to factors such as an oversupply of chemicals and losses from overseas refining. Despite the earnings miss, Exxon increased its quarterly investor payouts and reported strong free cash flow. Chevron's overseas refining division delivered lower-than-expected net income, and its Permian Basin crude-production business lagged. Both companies are pursuing major deals to expand their oil-production capabilities.

via Yahoo Finance|
#business#chemical-businesses#chevron-corp
business3 years ago

Exxon's Q1 profits soar despite lower oil prices.

Exxon Mobil reported a record Q1 profit of $11.43 billion, more than double from a year ago, due to strong oil and gas production growth that offset a pullback in energy prices. The company's oil and gas production rose to the most since 2019, driven by new volumes of crude oil and fuels from the startup of new offshore developments and refining facilities. Exxon also finished the startup of a new crude processing unit at its Beaumont, Texas, plant that added 250,000 bpd of oil refining capacity. The company has no urge to tap its $32.7 billion cash for mergers or acquisitions, but would be open to deals that could offer synergies and drive good returns for shareholders.

via Yahoo Finance|
#business#cost-cutting#exxon-mobil
business3 years ago

"Elon Musk Calls for Lithium Refinement to Avoid EV Choke Point"

Tesla CEO Elon Musk has called on entrepreneurs to refine more lithium, a mineral used in EV batteries, as the US faces a choke point in securing refined lithium for EV batteries. The Biden Administration's push towards greener technologies is about to create massive demand for lithium in the US. Currently, much of the world's lithium refining happens in China and is directed at the country's own growing EV market.

via Yahoo Finance|
#business#elon-musk#evs
Saudi Aramco Invests Billions in Refinery and Petrochemical Complex in China
energy3 years ago

Saudi Aramco Invests Billions in Refinery and Petrochemical Complex in China

Saudi Aramco plans to build a $10 billion refining and petrochemical complex in China with a capacity of 300,000 barrels of crude per day, with Saudi Aramco supplying 201,000 barrels per day. The project is part of a larger Saudi Aramco strategy to secure long-term demand for its oil and is scheduled for completion in 2026. The International Energy Agency has projected that petrochemicals will account for more than a third in oil demand growth by 2030, rising to 50% of demand by 2050 as transport electrifies.

via OilPrice.com|
#china#energy#oil-demand
Oil Prices Continue to Plummet Despite Brief Respite and OPEC+ Remains Calm
energy-markets3 years ago

Oil Prices Continue to Plummet Despite Brief Respite and OPEC+ Remains Calm

The oil price collapse continued on Friday after a brief respite, with prices on course to post a more than 10% loss for the week. Australian authorities may compel LNG exporters to divert excess gas supply towards domestic consumers amidst decreasing natural gas production. The last large-scale refining project to be commissioned in the US, the 250,000 b/d capacity Blade project at ExxonMobil’s refinery in Beaumont, TX, is set to start up in the upcoming weeks. Inspectors of the UN’s nuclear agency discovered that some 2.5 tonnes of uranium have gone missing from a Libyan site controlled by the rival Benghazi government. Venezuela and Colombia are seeking to reactivate the 224-km Antonio Ricaurte gas pipeline and export some 25 MMCf/day of Venezuelan gas to its western neighbor.

via OilPrice.com|
#energy-markets#lng#oil-price-collapse