Economics

Sinopec diverts supertanker from U.S.-sanctioned port

A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend after the U.S. imposed sanctions on an import terminal at the port on Friday.

BASF, Carlyle reach agreement on €7.7-B coatings business transaction to create a leading standalone company

Sanctions-hit Nayara scrambles to sustain operations, with New Delhi's help

Shut out of many international markets because of crippling sanctions imposed by the European Union on July 18, the Russian-owned refinery has had to divert more fuel to the domestic market and find new export customers, among numerous workarounds, big and small, forced by the bloc's penalty.

INEOS' CEO, Jim Ratcliffe, calls on European politicians to make 11th hour intervention to save Europe's chemical industry

Aramco completes acquisition of additional stake in Petro Rabigh

Taiwan says private refiners willing to stop buying Russian naphtha

While Taiwan joined the United States and major Western allies in putting broad sanctions on Russia after it invaded Ukraine in 2022, it did not explicitly ban imports of energy.

Ineos cuts workforce at UK acetyls plant, cites energy costs and anti-competitive trade practices

Belarus ramps up fuel exports to gasoline-thirsty Russia

Several Russian regions have introduced rationing and have temporarily frozen fuel prices in recent weeks amid a scarcity of popular types of gasoline brought on by the drone strikes, which targeted refineries among other energy installations. Moscow has also restricted gasoline and diesel exports.

INEOS to close two Rheinberg plants as Europe’s chemical industry hits breaking point

INEOS has confirmed the intention to shut two production units in Rheinberg, Germany. The closures are the direct result of crippling energy and carbon costs, and a lack of tariff protection.

Q3 2025 refining analysis: Stable crude oil prices, increasing refinery margins