Economics
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.
China fuel exports hit record in July, crude imports up 1.2%
China's fuel exports rose to a record in July as easing demand growth and a surplus in refined oil products pushed refiners to increase shipments to overseas buyers.
Essar Oil to upgrade Vadinar refinery
Essar Oil Ltd.’s 20 MMtpy Vadinar refinery is looking at earning an additional $1.50/bbl crude on its Gross Refinery Margin.
Trafigura extends credit to China teapots to boost crude sales
Trafigura has extended the credit period for two independent Chinese refiners to buy crude, marking a more aggressive push by the global commodity trader to feed the growing appetite of so-called "teapot" refiners to import oil.
Idemitsu, Showa Shell chiefs met to confirm merger plan
Idemitsu is considering acquiring a smaller stake in Showa Shell than planned to counter efforts by its founding family to block a merger of the two oil refiners.
Braskem to start talks with US authorities over corruption accusations
Braskem SA will start talks with US authorities over accusations of corruption linked to a massive graft investigation in Brazil.
As US crude wobbles near $40, new oil rally in doubt
Oversupply, refining cutbacks and a breakdown in the oil/dollar trade may spell an end to this year's rally.
Refiner HollyFrontier doesn't see output cuts despite weak margins
HollyFrontier does not expect to cut production of refined products, contrasting comments made by its rivals.
Concerns grow over Idemitsu family’s attempt to block Showa Shell acquisition
Shares in both companies decline on fears that acquisition plans may be blocked.
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