Economics
PDVSA sees future in consolidation with China
People’s Minister of Petroleum and President of Petroleos de Venezuela SA, Eulogio Del Pino, highlighted the importance of China-Venezuela bilateral relations to guarantee growth.
Louisiana refineries not hit by floods, markets expect trouble
Flooding in Louisiana hasn’t affected refinery output in the state, but markets responded to the expectation of reduced production anyway.
Australia's gas paradox: supply crunch looms despite rich reserves
Australia is on track to become the world's biggest LNG exporter by 2019, yet faces a looming shortage at home as states restrict new drilling onshore and cash-strapped oil and gas companies cut spending.
Petrobras' profit declines on lower prices, charges
State-led oil company Petrobras reported Q2 profit fell by nearly a third from a year earlier, missing analysts' expectations as oil prices fell, it took charges for layoffs and the impairment of a refinery.
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.
- 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
