Economics
Methanex buys OCI Global's methanol business for $2.06 B
OCI Global announced that it has reached an agreement for the sale of 100% of its equity interests in its Global Methanol Business to Methanex Corporation for a total consideration of $2.05 B on a cash-free and debt-free basis.
EU gives South Africa $35 MM in grants for green hydrogen plans
The European Union has pledged to give South Africa two grants worth ~$35 MM to accelerate its green hydrogen (H2) plans.
Russia's September western port oil loadings to rise 1.5% m/m despite seasonal refinery maintenance
Russia will increase oil exports via its western ports to 1.98 MMbpd in September, up by just 30,000 bpd from August, despite the expected start of seasonal maintenance on Russian refineries.
Gunvor growing Asia operations, expanding into LPG, naphtha, gasoline, aromatics, power
Global energy trader Gunvor Group is growing its Asia operations to expand in existing markets such as liquefied petroleum gas (LPG), naphtha, gasoline and aromatics as well as into new areas including power.
U.S. Gulf Coast-bound fuel oil cargoes hit 5-yr low as refinery demand weakens
Fuel oil exports bound for the U.S. Gulf Coast slumped to their lowest level since January 2019 last month, a sign of weakened refinery demand as margins have softened.
Russia's Sibur plans domestic bond issue to fund $10-B Amur gas-chemical complex
Sibur plans to place domestic bonds before the end of the year to fund the $10-B Amur gas and chemical complex, which will produce 2.3 MMtpy of polyethylene and 400,000 tpy of polypropylene once completed.
Asia refining margins at lowest seasonal levels since 2020 as supplies grow
Asian refiners' margins slumped to their lowest seasonal levels since 2020 this week as supplies of diesel and gasoline rose after peak summer travel demand ended
Singapore's middle distillates stocks rebound to more than 11 MMbbl
Singapore's middle distillates stockpiles climbed back above 11 MMbbl despite a rise in net exports for diesel/gasoil and jet fuel/kerosene.
Shell, Eni lead funding round for carbon capture firm Mantel Capture
European oil majors Shell and Eni have led an early stage funding round for climate technology startup Mantel Capture, which aims to use molten salts to capture carbon dioxide (CO2) emissions at refineries, factories and other industrial sites.
Motiva awards Honeywell UOP a contract for Port Arthur (U.S.) aromatics project
Motiva announced that it has advanced its aromatics project by executing a license for Honeywell UOP’s aromatics technologies for a world-scale aromatics unit to produce benzene and paraxylene.
- Portugal's Galp plans to start producing biofuels in 2026 12/20
- Prax and Shell call off deal on stake in PCK Schwedt oil refinery 12/20
- Nigeria's Dangote Refinery hits 85% refining capacity 12/20
- India's BPCL buys first Argentinian crude oil cargo for Feb. delivery 12/20
- Sinopec's Zhenhai oil refinery expands capacity to 40 MMtpy 12/20
- Oil via Russia's Druzhba pipeline halted by technical problems 12/20
