Economics
Crude prices up 2% on rising U.S. oil demand and lower output
Oil prices gained about 2% after U.S. data showed crude output was declining while fuel demand was growing.
China May Day tourists to stoke gasoline and jet fuel use
Freed from the most onerous of their COVID restrictions, China's tourists are set to boost the country's gasoline and jet fuel consumption next month as travelers for the May Day holiday take to the skies and hit the road.
US EPA to allow summer sales of gasoline with higher blend of ethanol
U.S. regulators are poised to allow summer sales of gasoline with a higher blend of ethanol adding that an emergency waiver would be issued later.
Finland's Neste misses first-quarter earnings estimates, warns of market volatility
Finland's Neste on Friday posted weaker than expected first-quarter operating earnings and said forecasting both biofuels and oil sales margins will continue to be difficult owing to market volatility.
Japan's Cosmo to keep current refining capacity at least until 2030
Cosmo Energy Holdings Co Ltd plans to keep the current refining capacity at least until 2030 despite an expected fall in gasoline demand in Japan due to aging population and higher sales of electric vehicles.
Jet2 invests in sustainable fuel plant as airlines seek to meet 2030 targets
Britain's Jet2 said it has invested in a sustainable aviation fuel production plant in northern England, as airlines jostle to secure supplies of the green fuel ahead of 2030 targets.
W.R. Grace announces PP plant startups and license awards in China
W.R. Grace & Co announced the start-up of a 500,000-tpy PP reactor line by PetroChina GuangDong PetroChemical Company, the world’s second-largest petroleum company.
Maire’s Nextchem acquires control of Catc, an innovative plastic chemical recycling technology
Maire Tecnimont S.p.A. announces that its subsidiary NextChem, within the Sustainable Technology Solutions business unit, has acquired a 51% stake in MyRemono S.r.l.
Asahi Kasei and Microwave Chemical demonstrates project for chemical recycling of polyamide 66 using microwave-based tech
Asahi Kasei and Microwave Chemical launched a joint demonstration project in April 2023 with the objective of commercializing a chemical recycling process for polyamide 66 using microwave technology.
EU agrees binding green fuel targets for aviation
The European Union has agreed a deal to set binding targets for airlines in Europe to increase their use of sustainable aviation fuels, in an attempt to kickstart a market for green fuels and start curbing the aviation sector's carbon footprint.
- 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
