Economics
Update: Nigeria oil union calls off strike after talks with Dangote Petroleum
The strike was called after the Dangote refinery—Africa's largest with a crude processing capacity of 650,000 bpd—dismissed more than 800 unionized staff.
Crimea freezes fuel prices, imposes rationing as shortages persist
Russia-controlled Crimea has frozen fuel prices and imposed gasoline rationing in response to shortages resulting from a spate of Ukrainian drone attacks on Russian oil refineries.
Update: Nigerian oil union launches nationwide strike after Dangote refinery dismisses workers
The walkout, launched on Monday, has escalated tensions in Africa's top oil producer, with analysts warning that if the dispute spreads to other unions, it could disrupt oil field operations, halt product flows and lead to fuel shortages at petrol stations.
Eni and five other oil companies fined by Italian competition watchdog
The regulator said that fines totaling more than €936 MM ($1.1 B) had been levied against Eni, Esso, Italiana Petroli (IP), Q8, Saras and Tamoil.
Nigeria's oil union orders halt of gas supply to Dangote refinery over mass sackings
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) directed branches at major oil firms to enforce an immediate halt to crude and gas deliveries to the refinery.
After sanctions, Indian oil refiner Nayara's exports find new markets
The privately-owned company halted exports for about two weeks after it was sanctioned by the European Union on July 18 for dealing in Russian oil.
Opinion: Ukraine strikes on Russian oil might be too successful for Trump’s liking
The conflict between Russia and Ukraine that began in 2022 took a sharp turn in recent weeks as Kyiv began to launch waves of drone attacks on Russian refineries, pipelines and export terminals.
Clariant SynDane™ catalyst achieves performance milestones at Wanhua maleic anhydride plant
Clariant announced the solid performance of its SynDane 3142 LA catalyst at Wanhua Chemical's maleic anhydride plant in Yantai, Shandong province, China.
India's Nayara Energy buys only Russian oil in August
The private refiner imported 240,400 bpd of oil in August, an overall decline of 26% from July, tanker data showed.
Australia promises $735 MM to launch biofuel industry
The money, to be released over 10 yrs from 2028, is intended to stimulate private investment in products like biodiesel and sustainable aviation fuel (SAF).
- 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
