Page 4 - Repi Refining News Today

Shell will keep oil output steady or slightly higher into 2030 as part of CEO Wael Sawan's efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while oil and gas profits are booming, company sources said.

Venture Global LNG, which is building three multi-billion dollar U.S. liquefied natural gas processing plants, is sparring with two customers of its first project over mechanical failures that have prevented commercial deliveries a year after initial shipments began.

An ongoing heatwave in China is boosting power demand for cooling, but tepid industrial demand and record high coal inventories are keeping prices at two-year lows and limiting spot liquefied natural gas (LNG) imports.

Australia's Viva Energy said on Wednesday that a failure of contractor crane at its flagship Geelong refinery in Victoria led to a compressor being dropped to the ground on Tuesday afternoon.

Stock markets in Saudi Arabia and Qatar rose in early trade on Wednesday ahead of a widely expected interest rate hike pause by the U.S. Federal Reserve, although other major markets were subdued on falling oil prices.

Russia's piped supply of Urals crude to the European Union (EU) via the southern Druzhba pipeline in June is set to increase by 16% compared to May as EU refiners seek to secure more oil amid fears of disruptions in transit via Ukraine, two sources said.

Trinidad and Tobago aims to restart an idled liquefied natural gas (LNG) unit by the first quarter of 2027 after agreeing to restructure the facility's ownership and negotiate new gas supplies, according to three people with knowledge of the plans.

Austrian oil and gas company OMV is not planning on selling its majority stake in the petrochemicals subsidiary Borealis, OMV Chief Executive Alfred Stern said on Wednesday.

Kazakhstan is pressing ahead with $16.5 billion in claims against international oil majors over disputed project costs and has no plans for a possible out-of-court settlement, Energy Minister Almasadam Satkaliyev said on Tuesday.

In Cape Cod Bay, 10-year-old Pilgrim and her calf skim the water's glassy surface alongside the Shearwater research vessel to feed on tiny crustaceans.