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Economics

Japan's Idemitsu defends Showa Shell merger opposed by founding family

Idemitsu Kosan defended its planned merger with smaller rival oil refiner Showa Shell Sekiyu KK, in the face of opposition from the founding Idemitsu family.

Refiners on track to spend record on US clean fuel standards

Major refiners like Valero Energy Corp. are on track to pay record amounts this year for credits to comply with US renewable fuel rules, a trend that hurts profits and has some looking to export more to avoid the cost.

API launches new RFS advocacy campaign focused on consumers

API launched a new multi-faceted Renewable Fuel Standard advocacy campaign focused on how higher ethanol mandates can hurt consumers.

European Commission begins Phase II review of Dow/DuPont merger

DuPont and The Dow Chemical Company confirmed that the European Commission (EC) has initiated a Phase II review for the proposed merger of equals transaction of the two companies.

Singapore refinery profits at two-year low as naphtha joins glut

Singapore's oil refining profits dropped to two-year lows, in the latest sign that the industry is pumping out too much fuel for the market to absorb.

Global glut of oil products threatens crude recovery

Gasoline and diesel stockpiles have swollen to record highs across the globe, leaving refiners and traders few places to dump excess supplies and threatening large-scale production cuts that could derail an oil price recovery.

ARC study names Implico a market leader of terminal automation systems in EMEA

International software and consulting company Implico remains a market leader of terminal automation systems in Europe, the Middle East and Africa (EMEA) region, according to the most recent market study conducted by ARC Advisory Group.

BP seeks buyers for its half of China petrochemical venture

British oil major BP is seeking buyers for its 50% stake in Chinese petrochemicals joint venture SECCO, its largest investment in China.

Idemitsu family issues fresh call for management to end Showa Shell merger

The founding family of Japan's Idemitsu Kosan Co. Ltd. has made a fresh call on management to give up its plan to merge with rival oil refiner Showa Shell Sekiyu KK.

Eni reaches deal with Exxon on Mozambique gas project

Italian oil firm Eni has wrapped up long-running talks to sell a multi-billion dollar stake in its planned Mozambique LNG development to Exxon Mobil.

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