Economics
Covestro declares force majeure on polyurethane raw materials
Due to an unforeseen production outage at a supplier of nitric acid, Covestro’s European production facilities for the isocyanates MDI and TDI can currently only be operated at reduced capacity.
Air Products and NICE sign MOU to develop hydrogen fuel projects in China
Air Products and the National Institute of Clean-and-Low-Carbon Energy have signed a memorandum of understanding to develop hydrogen fuel projects in China.
Kuwait’s KNPC aims to finalize $5 B loan by Q1
Kuwait National Petroleum Co. expects to finalize a loan of well over $5 billion to finance its Clean Fuels project by the end of Q1 of next year.
India's Essar agrees to sell oil arm to Rosneft-led group
India's debt-laden Essar Group confirmed on Saturday that it has agreed to sell a 98% interest in its Essar Oil unit to a consortium led by Russia's Rosneft.
Idemitsu delays full takeover of Showa Shell on founding family opposition
Japanese refiner Idemitsu Kosan has put on hold its plan for a full takeover of smaller rival Showa Shell Sekiyu indefinitely after running into fierce opposition from the Idemitsu founding family.
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.
- Samsung C&T and Axens partner to accelerate global deployment of CCUS projects with advanced DMX™ technology 2/24
- Yokogawa and CMC Solutions sign global sales and service agreement for predictive emission monitoring systems for industry 2/24
- Update on Asian refinery maintenance/turnarounds and outages 2/24
- NOVA Chemicals commercializes two new recycled polyethylene grades 2/24
- Verso Energy to use Honeywell UOP tech for seven eSAF projects 2/24
- Kuwait's KPC draws BlackRock, Brookfield, EIG to possible $7-B pipeline deal 2/24
