Andrii Pochkai’s Post

ExxonMobil has completed the sale of its Fos-sur-Mer refinery and two oil terminals in Toulouse and Villette-de-Vienne to Rhone Energies, a consortium formed by Trafigura and Entara LLC. The sale, announced today, marks a pivotal shift as ExxonMobil refines its asset portfolio and Trafigura strengthens its European energy foothold. Key Transaction Details: The Fos-sur-Mer refinery, with a 0.14 million barrels-per-day processing capacity, is one of France’s major refining assets. This acquisition further complements Trafigura’s portfolio after its recent acquisition of UK-based fuels and biofuel supplier Greenergy. This deal highlights Trafigura’s continued investment in energy infrastructure across Europe, capitalizing on market opportunities shaped by recent energy price spikes and supply chain shifts following the Russia-Ukraine conflict. Trading houses, including Trafigura and rivals like Vitol, are leveraging elevated energy prices and market volatility to build diversified energy portfolios in Europe and beyond. By adding significant refining capacity, Trafigura and Rhone Energies reinforce their competitive positioning in the oil and fuels market at a time when refining margins are in focus. Major players in oil and energy are rebalancing portfolios to navigate evolving market dynamics, optimizing asset allocations, and strengthening resilience in the face of geopolitical shifts.

"ExxonMobil sells French Fos-sur-Mer refinery to Trafigura consortium" PARIS, Nov 1 (Reuters) - ExxonMobil's (XOM.N), opens new tab Esso division has completed the sale of the Fos-sur-Mer refinery - one of France's major refineries - and two other oil terminals to Trafigura consortium firm Rhone Energies, the companies said on Friday. Trading houses, including Trafigura and rival Vitol, have sought acquisitions as they spend the proceeds of energy price spikes and market volatility caused by the disruption following Russia's invasion of Ukraine. The Fos-sur-Mer deal is Trafigura's second major acquisition this year, after it bought UK road fuels and biofuel supplier Greenergy. Rhone Energies, a consortium formed by Trafigura with Entara LLC, is also buying the Toulouse and Villette-de-Vienne terminals from Esso. The Fos-sur-Mer refinery has a crude oil processing capacity of 140,000 barrels per day. https://lnkd.in/gfNFWTDj

Guyana’s oil industry is expanding at an unprecedented pace, making it a key player in global energy markets. In early 2024, production reached 645,000 barrels per day (b/d), an astonishing 425% growth since 2020. By 2030, output is projected to exceed 1.6 million b/d, cementing Guyana’s role in global crude supply growth. All production comes from the Stabroek block, operated by a consortium led by ExxonMobil, Hess Corp., and China’s CNOOC. The consortium is advancing the Hammerhead project, set for completion by 2029, which will increase capacity to 1.4 million b/d. RefineryCalc utilizes proprietary technology to value emerging and less popularly traded crudes from the point of view of a refinery. To learn more about our valuation of Guyanese crudes, or any other grades, reach out today to set up a demontration. Email: Info@refinerycalc.com Phone: (832) 856-0650 #Energy #OilProduction #Guyana #OilIndustry #EnergyGrowth #Guyana

Refinery Calc is an amazing tool for refining economics valuations. Here a case study.

🇬🇧 Glencore Energy UK Ltd. has agreed to exclusively supply crude oil and associated feedstocks to Prax Lindsey Oil Refinery Ltd.'s 113,000-b/d refinery in North Killingholme, Immingham, UK. Under the July 9 agreement, Prax will purchase the entirety of its required crude oil and refinery feedstocks for the Lindsey complex from Glencore, which will use its global reach in international oil markets to source the optimal range of crude grades and other feedstocks for the site. The deal follows an original feedstock supply agreement for the Lindsey refinery Prax entered with Trafigura Group Pte. Ltd. upon completing purchase of both the refinery and associated logistics assets from TotalEnergies SE in 2021. Prax said its new supply partnership with Glencore will support the operator’s ongoing long-term investments in the refinery to transform the site into a next-generation, low-carbon refinery that contributes to the UK’s energy security. Source : Oil & Gas Journal #Oilproduction #Oilrefinery #CrudeOil

Today, ExxonMobil announced FY'24 #results! Another year of strong performance, innovation, and progress: 💰 Generated FY'24 #earnings of $34 billion - third best in a decade | 🛢️ Record #production in #guyana and the #permian | 🔼 Record sales of high-value products | 🌱 + 🌫️ + 🔒 Continued to lead in carbon capture and storage opportunities | 💰 Shareholder #distributions of $36 billion Read the full breakdown: https://lnkd.in/gmca--ZE #exxonmobil #oilandgasnews #oilandgas #oilandgasindustry #energyindustry #fourthquarter

Just how massive of an undertaking has our Singapore refinery expansion project been? Well, some of the project’s more than 70 construction modules weigh in at roughly 4,000 tons each, which is the equivalent to the weight of 27 blue whales. 🐋 While the project’s size and scale are remarkable, what truly sets it apart is its state-of-the-art proprietary technology specifically designed to convert resid into higher-value fuels and #basestocks. This includes our EHC 340 MAX™ extra heavy neutral base stock, which will help meet the increasing demand for high-viscosity #lubricants. This isn’t just about size and scale. Our investment is designed to provide customers in the lubricants industry with the enhanced quality and reliability that they need to meet their goals. Learn more at https://lnkd.in/ebBZ5U5T. And look out for future updates! ExxonMobil #ExxonMobil #ExxonMobilBasestocks #EHC340MAX #Singapore

Shell has announced that it is set to divest all of its petrochemical and refinery assets in Singapore as part of its strategy to decarbonize operations in the Asia-Pacific region. This decision includes the selling of its Energy and Chemicals Park to CAPGC, a joint venture of Chandra Asri and Glencore, following a strategic review. The move aims to optimise Shell’s chemicals and products portfolio, increase its shareholder profits by approximately 15%, and contribute to its net zero 2050 target through investments in low carbon energy solutions. Read the full article: https://lnkd.in/dwKTbUbD As companies recognise the imperative to address climate change, initiatives like Gastech 2024 offers a pivotal stage for innovation and collaboration. Through these strategic partnerships and technological advancements showcased at events such as Gastech, the industry can accelerate the shift to net zero, ensuring a more sustainable energy landscape for generations to come. Book a delegate pass: https://lnkd.in/eFMSzp4E #Gastech #NetZero #EnergyTransition #Decarbonization #Shell

ICYMI: Read Robert Brelsford’s reporting for Oil & Gas Journal on ExxonMobil progressing #construction of two new production units that, combined, will increase #lowcarbon #fuel supplies to #UK domestic market and contribute to reduced transportation-related #emissions globally. #OGJ #news $XOM #ExxonMobil #refining #energytransition #energytransformation