Economics
LYB enters into agreement to acquire 35% of Saudi Arabia-based NATPET; expands core PP business
LyondellBasell announced it entered into an agreement to acquire a 35% interest in Saudi Arabia–based National Petrochemical Industrial Company from Alujain Corporation for approximately $500 MM.
AI breakthrough enables refineries to self-diagnose fouling to reduce CO2 emissions
DecarbonX has concluded groundbreaking research into the use of AI in industry, bringing a new level of autonomy to industrial processes and enabling critical equipment to self-diagnose issues.
Cathay joins forces with like-minded organizations to promote the use of SAF
Following the successful launch of its Corporate SAF Program in 2022, Cathay is excited to announce the addition of three new partners to the program.
Shell to exit Nigeria's troubled onshore oil after nearly a century
Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 B.
Talos Energy to acquire QuarterNorth Energy for $1.29 B
Oil and gas company Talos Energy said it will acquire privately held QuarterNorth Energy in a $1.29 -B cash and stock deal to bolster its presence in Mexico.
Drawn by low prices, Chinese refiners hunt for oil to replenish stocks
Chinese refiners are actively booking crude oil cargoes for delivery in March and April to replenish stocks, locking-in relatively low prices and in anticipation of stronger demand in the second half of 2024.
Bayegan Group unveils $1.9-B petrochemical plant project in Turkey
Turkish petrochemicals company Bayegan Group is set to enhance domestic polypropylene production with a planned $1.9-B plant in Hatay province.
Borouge launches new infrastructure and advanced packaging solutions
Borouge Plc launched five new grades to meet the growing demand in the infrastructure and advanced packaging industries in the Middle East, Africa and Asia.
Russia's NORSI refinery may halve high-octane gasoline output after outages
Lukoil's NORSI oil refinery in Nizhny Novgorod may halve high-octane gasoline output after an emergency stoppage at one of two plant's catalytic cracking unit.
Indonesia 2024 unblended palm oil biodiesel consumption seen at 12.5 MMt
Indonesia is targeting 12.5 MMt consumption of unblended biodiesel made from palm oil this year.
- AVTL to develop ammonia terminal in Pipavav, India 6/20
- Chevron seeks buyers for 50% stake in Singapore refinery 6/20
- Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict 6/20
- Mexican authorities discover clandestine mini-refinery in crackdown of illegal hydrocarbon trade 6/20
- Italy's Eni eyes new unit to manage oil refineries 6/20
- Inatech's Techoil implemented by Flint Hills Resources for a modern, integrated future 6/20
