Economics
Mexico's gasoline independence dream sinks in dirty fuel oil glut
Mexico's president took office in late 2018 pledging to boost local output of gasoline while phasing out imports, but so far state refineries have instead set a different course: bumper production of highly contaminating fuel oil.
Technip Energies, LyondellBasell and Chevron Phillips Chemical sign MOU for electric steam cracking furnace
Technip Energies, LyondellBasell and Chevron Phillips Chemical announced the signing of a Memorandum of Understanding for the design, construction and operation of a demonstration unit for Technip Energies’ electric steam cracking furnace technology (eFurnace by T.EN) to produce olefins.
ExxonMobil signs carbon capture agreement with Nucor Corporation, reaching 5 MTA milestone
ExxonMobil Low Carbon Solutions’ newest carbon capture and storage agreement – with Nucor Corporation, demonstrates their continued momentum in helping industrial customers reduce emissions.
Oil steadies as higher inventories balance U.S debt bill progress
Oil steadied as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the world's biggest oil consumer.
OPEC+ unlikely to deepen oil supply cuts at June 4 meeting
OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting despite a fall in oil prices toward $70 per barrel.
Biodiesel import flood could drown European market
A flood of potentially "dubious" biodiesel imports into Europe from China needs to be subject to closer EU vetting or it could trigger the collapse of the European Union's biofuels industry, top producer body EWABA said.
Lukoil raises oil output at Iraq's West Qurna 2 to 480,000 bpd
Russia's Lukoil has increased oil production at Iraq's southern West Qurna 2 oilfield by 80,000 barrels per day bpd to a total of 480,000 bpd.
Eni bets on agri-business in Africa to expand biofuel production
Italy's Eni is investing in farming in several African and Asian countries as it aims to produce by itself around one fifth of the agricultural feedstock it will need for its biofuel business by 2025, two top executives at the energy group said.
Nigeria's NNPC says it will end monopoly on petrol supplies
Nigeria's state owned oil company NNPC will soon end its monopoly on petrol supplies, its chief executive told local television, a day after it nearly tripled prices at its fuel stations countrywide.
Indorama Ventures and Carbios reaffirm partnership to build first-of-a-kind PET biorecycling plant in France
Indorama Ventures Public Company Limited and Carbios announce the signing of a non-binding Memorandum of Understanding to form a Joint Venture for the construction of the world’s first PET biorecycling plant in France .
- Borouge reaffirms commitment to local manufacturing with new industry supply agreements 1/10
- Update: Turkey's Izmir refinery now expects to restart crude unit in Feb, IIR says 1/10
- Pertamina unit to produce ISCC-certified SAF in 1Q 1/10
- WTO panel largely backs EU in palm oil case against Indonesia 1/10
- Howard Energy Partners acquires ethylene pipeline from EPIC Midstream Holdings 1/10
- U.S. to impose further sanctions on Russian oil fleet and traders 1/10
