Economics
Sanctions-hit Nayara scrambles to sustain operations, with New Delhi's help
Shut out of many international markets because of crippling sanctions imposed by the European Union on July 18, the Russian-owned refinery has had to divert more fuel to the domestic market and find new export customers, among numerous workarounds, big and small, forced by the bloc's penalty.
Taiwan says private refiners willing to stop buying Russian naphtha
While Taiwan joined the United States and major Western allies in putting broad sanctions on Russia after it invaded Ukraine in 2022, it did not explicitly ban imports of energy.
Belarus ramps up fuel exports to gasoline-thirsty Russia
Several Russian regions have introduced rationing and have temporarily frozen fuel prices in recent weeks amid a scarcity of popular types of gasoline brought on by the drone strikes, which targeted refineries among other energy installations. Moscow has also restricted gasoline and diesel exports.
INEOS to close two Rheinberg plants as Europe’s chemical industry hits breaking point
INEOS has confirmed the intention to shut two production units in Rheinberg, Germany. The closures are the direct result of crippling energy and carbon costs, and a lack of tariff protection.
Why do private gasoline retailers in Indonesia face shortages?
Many fuel stations operated by companies such as Shell, bp and others have run out of gasoline and are left selling only diesel, frustrating customers.
Phillips 66 to book $100-MM charge as it winds down Los Angeles (U.S.) refinery
These include around $70 MM to mitigate groundwater contamination, and about $30 MM for its midstream segment to retire transportation assets.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
