Financials: Eni posted a loss of 91 million euros in its refining business for the first quarter of 2025, due to weak refining margins and reduced throughputs
Capacity: Montfort's refinery in Fujairah (UAE) has stopped operations indefinitely
Demand: IEA reduced its forecast for global crude run growth in 2025 from 540 kbpd to 340 kbpd due to lower demand stemming from increased trade tensions.
Capacity: Valero announced that it is likely to cease operations at he Benicia refinery (California, US) in 2026 due to market outlook and structural disadvantages.
Ownership : Shell completed the sale of its Bukom refinery (Singapore) and associated ethylene plant (1.1 mt/y) to CAPGC.
Ownership: Varo Energy (Vitol and Carlyle) has announced a deal to acquire Preem, which owns the Gothenburg and Lysekil refineries (Sweden).
Capacity: TotalEnergies announced it is delaying expansion of its 101,000 b/d SAF plant at the shutdown Grandpuits refinery near Paris. The potential expansion of output to 285,000 mt/year has been scaled down to 230,000 mt/year of SAF output by 2026 A project for chemical recycling of plastics is going ahead with10,000 mt/year of recycled plastic by 2026. Also on hold is a project for the mechanical recycling of plastics and the construction of a biomethane production unit.
Capacity: Yulong Petrochemical's new Yantai refinery (Shandong, China) began commissioning its second CDU (200 kbpd) as the overal refinery gradually starts ramping up.
Ownership: The Sinochem's Changyi refinery (Shandong, China) was rumoured to be sold to Sinchem Hongrun petrochemical for $412MM in an auction. The refinery was mothballed in 2024 after declaring bankruptcy.
Capacity: OMV's Schwechat refinery (Austria) started up a new 16 kt/y plastics recycling plant.
Capacity: Safram's Krasnador refinery (Russia) commissioned a new hydrocracker. Planning is under way on a new 1.5 mt/y delayed coker.
Capacity: Petrobras's REPLAN refinery announced it is soliciting bids to build a solar farm
Capacity: Shell ceased crude processing at the Wesseling site of its Rheinland refining complex, and announced plans to convert to Baseoil production (300 kt/y, Group III, using VGO feed provided from the Godorf site) by 2028.
Capacity: Motor Oil Hellas's Corinth refinery (Greece) awarded Metacon a contract to supply a 20-megawatt electrolysis plant to boost hydrogen production.
Capacity: Petromidia refinery (Romania) commissioned a new 70MW thermal power plant
Capacity: Neste issued 700MM EURO in green bonds to finance its 1.9 B EURO project to expand renewables production at its Rotterdam (Netherlands) plant by 1.3 mmt/y (up to 2.7)by 2026
Earnings: Citgo released 4th quarter earnings, reporting a $146MM quarterly loss.
Capacity: TotalEnergies announce plans to source 30kt/y of green hydrogen for the Leuna refinery (Germany) by 2030, from a 300 MW electolyzer being developd by RWE in Lingen. The project will include a 600km hydrogen pipeline to the refinery.
Capacity: Moeve's Huelva refinery (Spain) began work on a EUR325m project to add a new jetty and product pipeline to handle growing renewable fuel production
Capacity: The Yaisky refinery (Russia) announced it is defering a project to add dewaxing (2.5 mt/y) and coking (1.5mt/y) capacity originally planned for completion in 2027.
Ownership: Parkland refining (Canada) announced plans to consider strategic options including a sale of the business. Parkland owns the Burnaby refinery in British Columbia.
Ownership: Raizen (Shell and Cosan) is rumored to be looking to sell its Buenos Aires (Argentina) refinery and associated marketing assets.
Earnings: Pemex's Deer Park refinery (Texas, US) reported a $118MM annual loss for 2024.
Capacity: Galp secured €430 million ($453 million) in funding from the European Investment Bank (EIB) for the construction of a renewable hydrogen and biofuels project at the Sines refinery (Portugal). Galp has already started construction of a 270,000-metric ton biofuel unit (€400 million) with Japan's Mitsui scheduled to start production in 2026. Also building a 100MW electrolyser for€250 that will produce up to15,000 mt of renewable hydrogen per year when it goes online in 2026
Capacity: ENEOS announced it is mothballing one of its two naphtha-fed steam crackers in Kawasaki (448,000 mt/year of ethylene, 260,000 mt/year of propylene and 70,000 mt/year of butadiene). A second steam cracker remains operating with 540 kt/y of ethylene, 300 kt/y of propylene and 105 kt/y of butadiene.
Operations: Par Pacific's Newcastle refinery (Wyoming, US) experienced an explosion at a heater that will keep the entire refinery shutdown until April.
Operations: PBF's Martinez refinery (California, US) shut down after damage from a fire. Expected restart in Q2 2025.
Capacity: P66 announced plans to permanently close the Los Angeles refinery (California, US) by October 2025.
Ownership: Oando Trading (Nigeria) announced that it has been selected by the Trinidad Ministry of Enegy as the lead bidder to lease and operate the shut down Pointe a Pierre refinery (Trinidad).
Capacity: HPCL's Visakh refinery commissioned a new resid hydrocracking and solvent deasphalting unit (LC-max)
Capacity: Preem announced that its Synsat revamp reneables project at the Lysekil refinery (Sweden) has been delayed from the scheduled commissioning for the end of October due to "operational challenges."
Earnings: Par Pacific reported refining earnings of $17.4MM for 2024, down from $676MM in 2023
Operations: New Rise Renewables began producing neat sustainable aviation fuel from its new Reno (Nevada, US) facility.
Capacity: OMV strted construction of a SAF and renewable diesel unit at its Petrobrazi refinery (Romania). Starting in 2028, the new unit will have an annual production capacity of 250 kt/y, with a total investment of €750 million ($785.3 million), €560m for the SAF/HVO unit and €190m for two green hydrogen production facilities.
Capacity: Ecopetrol completed a $35MM project to upgrade its mild hydrocracker to make ULSD at its Barrancabermeja refinery (Colombia).
Capacity: TotalEnergies and Air Liquide set up a joint venture to build and operate a 250 MW electrolyzer near the Zeeland refinery (Netherlands) to produce 30 kt/yr of green hydrogenby 2029. Separately, TotalEnergies signed a tolling agreement for 15 kt/yr of green hydrogen to be produced at Air Liquide's 130 MW electrolyzer project in Maasvlakte in the Netherlands and supplied to its Antwerp refinery by the end of 2027.
Earnings: Chevron announce downstream earnings of t$1.196 billion om 2024, down by 46% from $2.233 billion in 2023.
Earnings: TotalEnergies announce downstream/chemicals adjusted net operating income for 2024 of $2.16 billion, a steep 54% drop from $4.65 billion in 2023.
Ownership: BP announced that it is looking for buyers for its Gelsenkirchen refinery (Germany.)
Capacity: BP has begun construction at its Castellon refinery (Spain) on a 25 MW green hydrogen electrolyzer project, expected to be operational in the second half of 2026.
Capacity: BP has cancelled plans to convert its shutdown Kwinana refinery (Austrailia) to a biofuels plant.
Capacity: Ineos began the process of shutting down its Grangemouth (Scotland, UK) refinery.
Capacity: Lyondell began the process of shutting down its Houston refinery (Texas, US).
Capacity: Kazmunaigaz's Pavlodar refinery (Kazakhstan) commissioned a new Merox unit (UOP technology) with capacity to process100,000 mt/year of LPG.
Capacity: Valero has begun a $230MM project at its St Charles (Lousisiana, US) refinery to improve high value product yield from its FCC by 6-7 kbpd, taking advantage of spare alkylation capacity.
Capacity: Saneg commissioned a new hydrogen plant at its Fergana (Uzbekistan) refinery, with 12.500 m3/h capacity. It will provide hydrogen for a new hydrocracker schedule for completion in 2026.
Capacity: TotalEnergies began testing a new SMR unit at its Donges refinery. The unit is owned and operated by Air Liquide.
Capacity: Start up of Sinopec's phase 2 expansion of Zhenhai refinery delayed due to fire in the new 220 kbpd crude unit
Capacity: NNPC's Warri refinery (Nigeria) resumed operations at 60% capacity after being offline for four years.
Capacity: BPCL has started pre-project work on a 9 million metric ton per year (tpy) refinery and ethylene cracker in Andhra Pradesh, with an estimated cost of $10.5-11B.
Capacity: Sinopec has announced the mechanical completion of the second-phase expansion at its Zhenhai Refinery (Zhejiang, China). The 41.6bn yuan ($5.69bn) expansion project includes 18 production units and increases the total capacity to 40 mt/y, with ethylene production capacity of 2.2 mt/y.
Capacity: Northern Refineries's Siniya refinery (Iraq) commissioned two 10kbpd distillation units which will send distillation products to the nearby Baiji refinery. The company also plans to start its new 220 kt/y butadiene plant.
Capacity: Gunvor announced that it is considering shutting down its Rotterdam refinery (Netherlands) due to structually unattractive market conditions in Europe.
Capacity: Yulong Petrochemical's newly commissioned Yantai refinery (Shandong, China) commissioned a new mixed-feed steam cracker (1.5 mt/y). The company also plans to start its new 220 kt/y butadiene plant.
Capacity: Chevron's Pasadena refinery (Texas, US) completed an expansion to 125kbd of light crude processing.
Capacity: P66's Rodeo renewable fuels refinery (California, US) announced it is partnering with NextEra Resources to build a 30.2 MW solar facility. NextEra will own and operate the facility on 88 acres of land owned by Phillips 66. The facility will have more than 70,000 modules and generate about 60,000 MWh/year of electricity.
Capacity: Braya's Come-By-Chance renewables refinery (Newfoundland, Canada) announced that it will cease production of renewable fuels at its 18 kbpd plant due to poor market conditions.
Capacity: Sinopec's Tianjin refinery has started up a 1.2 mt/y ethylene cracker and 13 other downstream petrochemical units, raising total ethylene production capacity to 2.5 mt/y.
Capacity: TotalEnergies's La Mede biorefinery (France) will add a new hydrogen production plant, that Air Liquide will "build, own and operate. The 25 kt/year plant is expected to be operational in 2028.
Capacity: IOCL's Panipat refinery (India) has pushed back the expected completion date of its 200 kbpd expansion to the end of 20205.
Capacity: CNPC's Dalian refinery (China) shut down one of its two CDUs (90 kbpd) as a step toward a full shut down, and possible relocation, of the refinery. The remaining 200 kbpd CDU and all secondary units remain operating.
Capacity: NIORDC's Shiraz refinery commissioned a new 5 kbpd C5 isomerization unit.
Ownership: Rhone Energies completed the asquisition of ExxonMobil's Fos Sur Mer refinery (France)
Capacity: Repsol's Petronor refinery (Spain) shut down its Plant 3 visbreaker due to market conditions, with no plan for restart.
Earnings: CVR Energy posted a loss of $122 million in the third quarter of 2024 due to external power outages which reduced refinery utilization at both its plants, compounded by weak refinery margins, forcing the company's board to suspend the dividend to conserve cash.
Earnings: Phillips 66's refining segment results posted a $108 million loss in Q3, compared with Q2's $302 million earnings, as margins fell sharply in Q3.
Capacity: Diamond Green Diesel (Valero and Darling) commissioned its new 470 mmga/y renewables fuels plant in Port Arthur (Texas, US).
Capacity: Neste's Porvoo refinery (Finland) announced that it is cancelling plans to build a 20 MW electorlizer for hydrogen production.
Capacity: Tamoil's Hamburg refinery has begun construction on a new renewable diesel plant (HVO using Topsoe Hydrofelx technology) with 220 kt/y capacity, expected completion in 2027.
Capacity: Phillips 66's Los Angeles refinery announced that it will be permanently shutting down in Q4 2025.
Capacity: Vertex's Mobile refinery (Alabama, US) converted its hydrocracker back to oil service from renewables in response to poor renewables diesel economics.
Capacity: Exxonmobil's Fawley refinery (UK) cancelled plans to develop a CCS project
Capacity: ExxonMobil's Port Jerome refinery (France) began shut down of the chemicals plant, incuding the steam cracker
Orlen's Plock refinery in Poland shut down its resid desulfurization unit due to a fire. It is not expected to restart until H1 2025.
Zhongda refinery (owned by Zhongda China, in Kyrgizistan) restarted after being shut down for 5 years due to a fire