Economics
Saudi Aramco to invest in $7 B petchem project in South Korea
Saudi Aramco said it plans to invest in a $7 B project to produce petrochemicals from crude oil at its South Korean affiliate S-Oil Corp's refining complex in the port city of Ulsan.
Lukoil urged to keep Sicilian refinery running as talks drag on
The plant has had to rely solely on Russian oil provided by Lukoil after its creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers.
Neste, Brightlands Venture Partners, 4 Impact VC and Asahi Kasei invests EUR 11 MM into startup Circularise
Neste, Brightlands Venture Partners, 4 Impact VC and Asahi Kasei announce a combined EUR 11 MM investment into Netherlands-based startup Circularise.
Shell begins operations at polymers plant in Pennsylvania
The Pennsylvania facility is the first major polyethylene manufacturing complex in the Northeastern United States and has a designed output of 1.6 MMt annually.
Russia price cap could threaten India's oil supplies
India would be one of the countries most exposed if Russia refuses to sell crude oil at the capped price under proposed sanctions to be imposed by the United States and the European Union.
bp workers at Rotterdam refinery start work-to-rule action
Workers at the BP refinery in Rotterdam began work-to-rule industrial action on Monday after the noon expiry of a union deadline for a new pay agreement, a union spokesman said.
Refiner Phillips 66 to boost investor returns by up to $12 B
Refiner Phillips 66 said it plans to return up to $12 B more to shareholders by end-2024 through dividends and stock buybacks, sending its shares up as much as 3%.
Indian petrochemical demand could rise threefold by 2040
India's annual petrochemical consumption could nearly triple to 80 MMt by 2040 forcing the country to either raise imports or invest into building new facilities, said an executive at the nation's top refiner Indian Oil Corp.
Citgo Petroleum reports $477 MM third quarter profit
Results for the Venezuelan-owned company and other U.S. refiners have touch records this year as prices for motor fuels climbed sharply on the U.S. economic recovery and on global shortages caused by Russia's invasion of Ukraine.
Chinese refiners boost diesel output to profit from robust export margins
China's refined oil product exports in November are set to hit the highest since April 2020 as refiners ramp up output to multi-month highs to boost diesel supply and profit, offsetting the impact of slower domestic demand from COVID-19 restrictions.
- 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
