Industry News

Borouge Plc has announced a series of strategic asset expansion projects to boost production capacity to over 6.6. million tonnes and accelerate the company's growth.

Dow is delaying construction of a nearly $9 billion net-zero petrochemical project northeast of Edmonton because of weak market conditions.

Valero Energy said it would cease operations at its 170,000-bpd San Francisco-area oil refinery next year amid worries about California's declining fuel supplies and high gasoline prices.

In 2024, U.S. exports of total petroleum products increased to a record 6.6 million barrels-per-day annual average.

Venture Global LNG recently announced it has begun commercial operations at its Calcasieu Pass plant in Louisiana, ending a more than a three-year commissioning process at the plant.

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Valero said it was taking a $1.1 billion impairment related to its California refineries and told regulators it would shut or restructure its Benicia refinery.

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Energy Transfer has signed an agreement with MidOcean Energy to jointly develop its Lake Charles LNG export facility, whereby MidOcean would commit to fund 30% of the construction costs and be entitled to receive 30% of the LNG production.

U.S. crude oil exports in 2024 surpassed the previous record set in 2023, exceeding an annual average of 4.1 million barrels-per-day. Europe and the Asia and Oceania region remained the top regional destinations for U.S. crude oil exports.

The Keystone oil pipeline from Canada to the United States was shut on Tuesday after an oil spill near Fort Ransom, North Dakota.

India's Reliance Industries has shut a crude unit and some secondary units for maintenance for 21 days at its 660,000 bpd refinery.

PBF Energy is restarting several process units at its Martinez refinery that were shut after a fire broke out in February. However, any fire-damaged units will remain shut until the fourth quarter.

BP has decided to halt plans to produce clean jet fuel at its Castellon oil refinery in Spain.

Brookfield Infrastructure Partners has agreed to acquire 100% of the world-class midstream asset portfolio of Colonial Enterprises, which includes the Colonial Pipeline Company, for $9 billion.

According to people familiar with plant operations, Motiva Enterprises plans to complete the restart of the gasoline-producing FCC unit at its 626,000 bpd Port Arthur, Texas refinery by April 10, 2025.