Economics
Pakistan Refinery seeks loan to increase capacity
Pakistan Refinery is in talks with international banks over a potential syndicated loan to increase refinery capacity.
ChemChina, Sinochem in talks on possible merger
Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertiliser and oil company with almost $100 B annual revenue.
Rosneft, Trafigura, UCP to buy stake in Essar Oil
Russian oil major Rosneft , along with European trader Trafigura and Russian fund UCP, will acquire 98 percent in India's Essar Oil for about $12-$13 billion.
US gasoline glut disappears as refiners tweak production
The US gasoline glut, which dominated discussions about the outlook for crude and fuel markets during the spring and early summer, quietly evaporated during August and September.
Glencore hopes for Moroccan refinery restart to recoup money
Glencore, one of the main creditors of Morocco's sole refinery, still has hopes the idled plant will restart so lenders can gradually recoup their money, despite repeated failures to get it up and running.
Axens files proposal to acquire Heurtey Petrochem
Axens has filed a voluntary takeover bid proposal with the AMF (French capital markets authority) to acquire the shares of Heurtey Petrochem.
BP to vigorously defend against Marathon suit
BP said it would vigorously defend itself against a federal civil suit by Marathon Petroleum alleging that it had failed to deliver a Texas oil refinery in the condition promised under a $2.4-B sales agreement.
US federal agencies ask for another pipeline construction pause
The US Army and Departments of Interior and Justice asked the company building the Dakota Access pipeline to voluntarily halt construction within 20 miles of a contested section of the proposed route.
Philadelphia Energy Solutions laying off nonunion workers
Philadelphia Energy Solutions Inc. has begun laying off nonunion workers at its Philadelphia refinery after the company fell short of a goal of trimming its workforce through voluntary buyouts.
Marathon sues BP for breach of contract in Texas oil refinery sale
Marathon Petroleum Corp. alleged BP failed to deliver a Texas oil refinery and three products terminals in the condition promised under a $2.4-B sales agreement signed in 2012, according to a federal lawsuit.
- 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
