Economics

Australia promises $735 MM to launch biofuel industry

The money, to be released over 10 yrs from 2028, is intended to stimulate private investment in products like biodiesel and sustainable aviation fuel (SAF).

Vitol and Glencore to make formal bids for Chevron's Singapore refinery stake

Vitol and Glencore, which have other refining assets in the Asia-Pacific, are keen to acquire more and boost trade volumes in the region.

INEOS Inovyn to mothball its chloromethane production facility in Tavaux, France

INEOS Inovyn announced that is has mothballed its chloromethane production facility in Tavaux, France. The decision reflects persistently weak market demand, regulatory challenges and increased operational and energy costs. 

India's Nayara Energy increases fuel supply to HPCL after EU sanctions

Since the imposition of sanctions, Nayara has been operating its 400,000-bpd Vadinar refinery in western India at 70%–80% capacity.

Update: SOCAR inks deal to buy oil refiner Italiana Petroli

People close to the matter had previously said that Italy's Brachetti Peretti family was seeking an enterprise value of around €2.5 B ($3 B) for the company, which holds some €500 MM in cash.

AFPM: U.S. EPA’s RFS proposal doesn’t square with the ‘energy dominance’ agenda

Indonesia's Pertamina to merge refinery, shipping and retail operations

Indonesian state energy firm PT Pertamina will merge the operations of its refinery, shipping and retail units to improve efficiency in its core business, CEO Simon Aloysius Mantiri said.

Pakistan's top refiner Cnergyico to boost fuel oil exports as domestic sales plummet

China's teapot refiners face fresh test from crackdown on tax evasion

Refiners are required to pay consumption taxes both when they import feedstock such as fuel oil and also on the refined products they produce, but evasion is widespread.

Ecovyst announces agreement to sell its Advanced Materials & Catalyst segment to Technip Energies for $556 MM