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Economics

Trump administration (U.S.) axes $3.7-B in green energy projects

The U.S. has axed awards to 24 green energy projects issued during U.S. President Joe Biden's administration that totaled more than $3.7 billion, the Energy Department said. These include projects from ExxonMobil, Heidelberg Materials and Eastman Chemical

European chemical industry pessimistic for 2025, recovery not until 2026 says new report

After a sobering business year in 2024 ("lost year"), the leading European chemical companies are still not forecasting any significant recovery for 2025. A cautiously positive development is only expected in the second half of the year - provided that a global trade war or a lack of economic recovery do not thwart the forecast.

Lotte Chemical Titan signs contract to buy naphtha from Aramco Trading Singapore

Malaysia's Lotte Chemical Titan has signed a three-year contract to buy naphtha from Aramco Trading Singapore starting in July 2025 and running to June 2028, the company said.

India's May diesel exports to Southeast Asia seen at multi-year highs on higher margins

India's diesel exports to Southeast Asia for May are expected to be the highest in at least four years, as traders eyed higher profits in Asia and as higher freight costs deterred shipments to Europe.

U.S. ethane exports to China hit new roadblock with license requirement

Chinese purchases of U.S. ethane, a key petrochemical feedstock, face fresh uncertainty after the U.S. Commerce Department told exporters to seek licenses to export to China

BASF intends to take over shares in Alsachimie JV from DOMO Chemicals

BASF and DOMO Chemicals have signed an agreement giving BASF the right to take over DOMO Chemicals’ 49% share of the Alsachimie joint venture, in which BASF currently holds 51%.

Digital Feature: FuelEU: A growth opportunity for U.S. Midwest ethanol producers

ExxonMobil to sell French subsidiary Esso to Canadian energy group

ExxonMobil France Holding has entered into exclusive negotiations with North Atlantic France SAS for both the proposed sale of its 82.89% majority shareholder interest in Esso Société Anonyme Française SA as well as the proposed sale of ExxonMobil Chemical France SAS. 

UPM cancels second Rotterdam biomass-to-fuels refinery

UPM plans to discontinue the development of its potential second biomass-to-fuels refinery at the Port of Rotterdam. UPM plans to halt all engineering work related to the CAPEX investment and withdraw from all site-related commitments associated with the Rotterdam investment

Uniper, thyssenkrupp Uhde partner to build large-scale ammonia cracker in Germany

thyssenkrupp Uhde and Uniper are entering into a strategic partnership to bring a key technology for global hydrogen trading to industrial maturity: the large-scale ammonia cracker. In a first step, a demonstration plant with a capacity of 28 tpd ammonia will be built at Uniper’s Gelsenkirchen-Scholven site in Germany.

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