Economics
Industry Metrics
US gasoline crack spreads continued to rally, but were offset by supply-side pressure as higher refinery runs contributed to increased inventories.
Asia demand for US, Atlantic Basin oil set to jump as buyers prep for winter
SINGAPORE (Reuters) — Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese and South Korean buyers to snap up cargoes to arrive ahead of peak winter consumption.
Takeover target Amec to retain European nuclear business
(Reuters) — Oil services company Amec Foster Wheeler Plc, which is being bought by peer John Wood Group Plc, said on Thursday it had decided to retain its European nuclear unit and sell its North American business.
Canada allows Dow, Dupont merger after firms agree to sell assets
OTTAWA (Reuters) — Canada's Competition Bureau said on Tuesday it would allow a planned merger between DuPont and Dow Chemical Co after both firms agreed to dispose of some assets.
Oil holds above November lows but under threat from US supply
LONDON (Reuters) — Oil edged up for a third straight session on Monday, climbing off last week's seven-month lows but with gains capped by the relentless rise in US supply and bloated global inventories.
Portugal investigating fraud linked to Venezuela PDVSA funds
CARACAS (Reuters) — Portugal is investigating alleged appropriation of funds belonging to Venezuelan state oil company PDVSA that were channeled through now-defunct Portuguese bank Banco Espirito Santo between 2009 and 2014, PDVSA said on Saturday.
Tanker firm Frontline drops DHT pursuit and steers away from deals
OSLO (Reuters) — Oslo-listed oil tanker firm Frontline has abandoned its pursuit of New York-listed rival DHT Holdings and is not working on any alternative acquisitions, Frontline's CEO told Reuters on Monday.
Petrobras revives plan for IPO of fuel distribution unit
SAO PAULO (Reuters) — Petróleo Brasileiro SA is reviving an initial public offering of fuel distribution unit BR Distribuidora to cut the Brazilian state-controlled oil company's debt and investment in low-return activities, Chief Executive Officer Pedro Parente said on Thursday.
Shareholders approve all-share offer by Wood Group for Amec Foster Wheeler
Shareholders of Wood Group and Amec Foster Wheeler overwhelmingly approved Wood Group’s recommended all-share offer for Amec Foster Wheeler. The deal remains subject to relevant clearances from competition authorities in certain countries where both companies operate. It is expected that the transaction will complete in the fourth quarter of 2017.
IEA: Oil supply growth to outpace rise in consumption in 2018
LONDON (Reuters) — Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 MMbpd for the first time, the International Energy Agency said on Wednesday.
- Avina Clean Hydrogen completes FEED for 800,000-tpy clean ammonia facility (U.S.) 1/13
- INEOS closes last remaining synthetic ethanol plant in the UK 1/13
- Montana Renewables announces closing of $1.44-B U.S. DOE loan for renewable fuels and biomass energy facility 1/13
- Vioneo to use Honeywell UOP's methanol-to-olefins technology for Antwerp plant 1/13
- Solvay and Hankook sign Memorandum of Understanding for circular silica 1/13
- India halts trade with U.S.-sanctioned Russian companies and tankers 1/13
