Saudi Aramco has canceled plans to build a refinery and chemicals project in the kingdom and is reviewing three others as it evaluates spending plans with a focus on expanding in Asia.
Refinery margins for petroleum refiners across the world are shrinking, indicating reduced profitability from refining crude oil and selling petroleum products.
Total OPEC-12 crude oil production averaged 26.04 mb/d in September 2024, which is 604 tb/d lower, m-o-m. Crude oil output increased mainly in IR Iran,... Azerbaijan produced 37.1 billion cubic meters ...