Industry News

U.S. refiner Valero Energy Corp posted a larger quarterly loss on Thursday as a winter storm hit its operations in February, but its top boss shrugged off the rare event to focus on rising fuel demand and fatter refining margins.

Equinor must fix a series of rule breaches exposed by a fire at its Melkoeya LNG plant in Norway last September for the plant to reopen, the country’s safety watchdog said on Thursday.

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Indian Oil Corp Ltd's (IOC) refineries are operating at about 95% of their capacity, down from 100% at the same time last month, two sources familiar with the matter told Reuters.

DuPont is investing approximately $30 million to build a new adhesives manufacturing facility in East China to serve customers in the transportation industry.

The adoption of electrification in oil-dependent sectors is accelerating and is predicted to lead to peak oil demand of 101.6 million barrels per day in 2026, according to Rystad Energy.

Formosa Petrochemical Corp restarted its No. 1 naphtha cracker at the company's Mailiao Refinery after a technical problem shut the unit last week.

Exxon Mobil on Monday floated a proposal for a public-private carbon storage project that would collect planet-warming carbon dioxide emissions from U.S. petrochemical plants and bury them in deep under the Gulf of Mexico.

A severe cold spell in mid-February knocked out a third of U.S. oil refining capacity. A sharp drop in temperatures that lasted five days shut individual units and sometimes entire plants at 25 refineries.

Exxon Mobil Corp has reached an agreement with U.S. and Illinois regulators to reduce air pollution at its refinery near Chicago in Joliet, Illinois, according to a statement from the U.S. Department of Justice.

Chevron Corporation and Honeywell today announced the commissioning and start-up of the world’s first commercial-scale ISOALKY™ process unit that utilizes ionic liquids to produce alkylate.

Petroleos Mexicanos (Pemex) said on Tuesday the Lazaro Cardenas oil refinery it operates in the eastern city of Minatitlan is out of service after a fire last week.

Exxon is considering whether to close down its Slagen oil refinery in Norway, which has a capacity to process 120,000 barrels of crude per day, turning the site into an import terminal, the U.S. energy major said on Thursday.

Seven people were injured after a major fire broke out Wednesday at Pemex's 285,000 bpd Lazaro Cardenas refinery in the eastern city of Minatitlan.

Spanish energy firm Repsol said on Thursday it will furlough up to 830 workers at its La Coruna and Puertollano refineries in Spain as pandemic restrictions have led to an “unprecedented” slump in demand for fuels.

The U.S. Chemical Safety and Hazard Investigation Board (CSB) is deploying to the scene of a fatal explosion and fire at the Yenkin-Majestic Paints and OPC Polymers manufacturing site in Columbus, Ohio.