Economics
ExxonMobil to sell its share of Aera Energy joint venture
ExxonMobil affiliates have signed an agreement to sell all of ExxonMobil’s interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV.
Iraq oil exports unaffected by political turmoil
Iraq's oil exports are unaffected by the current political turmoil in the country.
History of the HPI: The 2000s: Net-zero, environmental regulations, capacity acceleration and digital transformation
This final installment of the History of the HPI series details major events in the refining and petrochemicals industry over the past 20 yr, including stricter regulations/initiatives to curb carbon emissions, a safer and more environmentally friendly way to produce and handle chemicals, significant capital investments to boost production capacity and digital transformation.
Oil firm Neptune Energy aims for IPO, but not this year
Neptune, founded by the former head of Britain's Centrica Sam Laidlaw, was working on being "IPO ready" but current conditions on financial markets made it difficult to launch one at the moment, CEO Pete Jones said in an interview.
U.S. energy secretary urges refiners not to increase fuel exports
The U.S. Energy Secretary urged domestic oil refiners this month to not further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider taking action if the plants do not build inventories.
India's top refiner to spend $25-B for 2046 net-zero goal
Indian Oil Corp, the country's top refiner, plans to invest more than $25 B to achieve net-zero emissions from its operations by 2046, its chairman S. M. Vaidya said at an annual shareholders meeting.
California ban on gas & diesel cars and trucks should concern every American
“California’s radical ban on gasoline- and diesel-fueled cars and trucks will have devastating implications for consumers, energy security and the U.S. manufacturing economy. "
Major traders, banks cut business ties with Russia-backed Indian refiner
Many global oil traders and banks have stopped dealing with Indian refiner Nayara Energy, a Rosneft affiliate, as they are worried about Western sanctions over Russia's invasion of Ukraine.
U.S. court upholds Conoco's $8.7 B award for loss of Venezuela assets
A U.S. court upheld a tribunal's $8.75 B award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case.
Venezuela's second largest refinery resumes gasoline production
Venezuela's state oil and gas company PDVSA has restarted gasoline production at the country's second largest refinery after repairing a breakdown.
- Kumho Mitsui Chemicals to increase capacity of MDI production facilities 12/15
- ABS, Eneos, NYK Line and Seacor Holdings launch joint study to develop a methanol marine fuel supply network in the U.S. 12/15
- ENEOS accelerates AI-driven materials discovery of immersion cooling fluids and novel catalysts Using NVIDIA ALCHEMI 12/15
- SAMSUNG E&A wins FEED contract for nearly $5-B SAF plant in the U.S. 12/15
- KBR wins green ammonia project by IGNIS in Spain 12/15
- Phillips 66 announces $2.4-B capital budget for 2026 12/15
