Economics
South Africa to decide on new oil refinery this year
CAPE TOWN (Reuters) — South Africa, a net importer of refined oil products, needs a new refinery and the cabinet is expected to make a firm decision later this year on whether to build one, the new energy minister said on Friday.
Full tanks and tankers: a stubborn oil glut despite OPEC cuts
NEW YORK/LONDON/SINGAPORE (Reuters) -- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.
US gasoline demand weak but expected to strengthen this summer
(Reuters) -- US gasoline demand has been weaker than expected this year, but a growing economy and relatively cheap pump prices have the energy industry expecting record demand again this summer driving season, which should help drain the global oil glut.
Saudi Aramco to sign deals with US firms during Trump visit
JEDDAH, Saudi Arabia (Reuters) -- Saudi Aramco is due to sign deals with 12 US companies on Saturday during US President Donald Trump's visit to Saudi Arabia, sources with knowledge of the matter said.
Egypt will make $750 MM debt payment to oil companies June 1
CAIRO (Reuters) -- Egypt will make a debt payment of $750 MM to international oil companies on June 1, Central Bank Governor Tarek Amer said on Tuesday.
Philadelphia refiners face run cuts due to Sunoco pipeline shutdown
NEW YORK (Reuters) -- Philadelphia area refiners may be forced to cut production in coming months because Energy Transfer Partner LP's Sunoco Logistics is temporarily shutting down a key pipeline that carries refined products into central Pennsylvania, two sources told Reuters.
Japan oil firms lift annual spending on refineries, cut exploration
TOKYO (Reuters) -- Some Japanese oil companies have raised their capital investment plans for the year that started on April 1, putting money into refineries and other downstream projects, while others have focused on cutting spending on exploration and production.
BASF sees role of oil and gas unit declining further
MANNHEIM, Germany (Reuters) -- BASF, the world's largest chemicals maker, said its focus would be on boosting profitability at its chemicals and crop protection businesses as the contribution to earnings from oil and gas, hurt by low crude oil prices, diminishes further.
Shell proposes adding Russian oil to Brent benchmark
LONDON (Reuters) -- Royal Dutch Shell on Wednesday urged oil pricing agency S&P Global Platts to protect the dated Brent crude benchmark from declining North Sea supply by including other grades, such as Russian Urals, in its price-setting process.
Calif. Assemblyman Travis Allen files ballot initiative to repeal $52 B gas tax
SACRAMENTO, Calif. -- Travis Allen (R-Huntington Beach) filed an initiative to repeal the recently signed $52 B gas tax and move it to a vote of the California people in 2018.
- Kumho Mitsui Chemicals begins operation of chlor-alkali plant using thyssenkrupp nucera technology 6/16
- MAIRE, Azerbaijan partner to increase sustainability projects in Azerbaijan 6/16
- Mitsubishi Gas Chemical, RITE partner to convert captured CO2 into methanol 6/16
- Yara Clean Ammonia supports groundbreaking ammonia bunkering pilot in Pilbara (Australia) 6/16
- Syensqo signs carbon fiber composites recycling contract with Fairmat 6/16
- OCI Global receives U.S. regulatory approval for the sale of its global methanol business to Methanex Corp. 6/16
