Economics
Venezuela's PDVSA, Chevron request 15-year extension for two joint ventures
A unit of Venezuela's state oil company PDVSA and U.S. oil major Chevron have requested a 15-year extension for two of their joint ventures from the country's oil ministry.
Metafuels secures $8 MM seed funding to drive SAF mainstream
Zurich-based climate tech startup will use new funding to implement a pilot facility based on its groundbreaking sustainable kerosene technology in Switzerland.
Japanese refineries close as the country's petroleum consumption falls
The U.S. Energy Information Administration forecasts the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to its aging and declining population.
Mott Corporation and South Korean partner DL E&C announce eight-figure agreement with S-Oil to advance cutting edge chemical production
Mott Corporation, a global leader in filtration and flow control solutions, announced a new eight-figure agreement with South Korean refinery S-OIL. Mott and its Korean partner DL E&C are teaming up to provide critical filtration technology for S-OIL’s groundbreaking Shaheen project in Ulsan, South Korea.
China's SPIC plans $5.9-B investment turning green hydrogen into fuel
China's State Power Investment Corp announced a $5.85-B investment plan in northeast China to produce fuel from hydrogen produced from wind power, according to a company official and a local government report.
Russia's Sibur strikes deal to issue carbon credits from solar project
Russia's Sibur, the largest petrochemical producer in eastern Europe, said it plans to start issuing carbon credits outside Russia after reaching a deal at the COP28 climate summit to register a solar project with a new international program.
BASF launches Irgastab PUR 71, a cutting-edge antioxidant improving regulatory compliance and performance for polyols and polyurethane foams
BASF presents Irgastab PUR 71, an innovative and advanced anti-scorch solution that not only ensures adherence to regulations but also offers exceptional performance.
Biden administration to release aviation fuel subsidy guidance by end of week
The Biden administration expects the Treasury to release guidance on whether to make it easier for SAF made from corn-based ethanol to qualify for subsidies.
X-Press Feeders plans to use green methanol for ships in Europe in Q2 2024
Singapore-based container shipper X-Press Feeders plans to use green methanol bunker to fuel part of its fleet in Europe in the second quarter of 2024.
Solvay and ENOWA plan to build first carbon-neutral soda ash plant in NEOM before 2030
Solvay is partnering with ENOWA, NEOM’s energy and water company, to establish the world’s first carbon-neutral soda ash production facility in NEOM, Saudi Arabia.
- Evonik presents innovative "Debonding on Demand" concept for more sustainable bonding 4/3
- Oil, gas and refined product imports exempted from Trump’s sweeping tariffs 4/3
- Reliance: India's gasoline demand to peak by 2035, diesel by 2041 4/3
- Mabanaft, HIF Global sign agreement to accelerate e-methanol adoption in the shipping industry 4/3
- Burckhardt Compression awarded digital monitoring services contract for a chemical plant in Saudi Arabia 4/3
- Lummus completes successful startup of electric heater demonstration unit 4/3
