Economics
U.S. offers conditional loan guarantees worth $3 B for two SAF projects
The U.S. Department of Energy (DOE) has approved conditional loan guarantee commitments totaling nearly $3 B for two sustainable aviation fuel (SAF) projects.
Fertiglobe becomes ADNOC’s platform for low-carbon ammonia growth globally
ADNOC announced the completion of its acquisition of OCI Global’s 50% + 1 shareholding in Fertiglobe, increasing its share in the Company to 86.2%, with 13.8% remaining in free float on the Abu Dhabi Securities Exchange (ADX).
Phillips 66 agrees to sell interest in Switzerland-based joint venture
Phillips 66 has announced that its subsidiary, Phillips 66 Ltd., has entered into a definitive agreement to sell its 49% non-operated equity interest in Coop Mineraloel AG (CMA) to its Swiss joint venture partner.
Singapore marine fuel sales down for second month in Sept., though biofuels climb
Sales of marine bunker fuel at Singapore eased for a second consecutive month in September, though marine biofuel sales surged to a fresh record high.
Trader Vitol sells Venezuelan oil to Indian refiners
Two Indian state refiners have bought 2 MMbbl of Venezuelan crude from trading house Vitol for November delivery, as shipments to what previously was Venezuela's second largest oil market continue to grow.
Nigeria ends state oil firm's role as Dangote refinery's sole buyer
Nigeria's local fuel traders can now buy petrol directly from the Dangote oil refinery, ending state-oil firm NNPC's exclusive buying rights as the country moves to fully deregulate its processing sector.
Fewer tankers transit the Red Sea in 2024
The amount of crude oil and oil products flowing through the Bab el-Mandeb, the southern chokepoint at the mouth of the Red Sea, decreased by more than 50% in the first eight months of 2024.
Nextchem (Maire) awarded licensing/process design package for H2 unit in Vietnam
Nextchem (Maire) awarded licensing and process design package to upgrade BSR's hydrogen production unit in Vietnam, based on its proprietary NX Reform technology.
TotalEnergies expands global LNG bunkering footprint
TotalEnergies has signed a charter contract with Spanish shipowner Ibaizabal for a new LNG bunker vessel of 18,600 m3 capacity. This new vessel will expand the Company’s global presence in bunkering hubs.
QatarEnergy signs 20-yr naphtha supply deal with Shell
QatarEnergy has entered into a long-term naphtha supply agreement with Shell, supplying up to 18 MMt of naphtha over 20 years from April 2025.
- Pumps & Valves Innovation Conference Brings Program for Operators, Engineers to the Gulf Coast 4/22
- Australia's Queensland invests in biodiesel to cut reliance on fuel imports 4/22
- Indonesia biodiesel consumption eclipses 3.9 MM kiloliters so far this year 4/22
- Malaysia's palm oil-based biodiesel push to add 300,000 tpy in demand 4/22
- India's L&T Energy GreenTech, Japan's ITOCHU ink 300,000 tpy green ammonia supply deal 4/22
- Energy services group Saipem ‘well positioned’ to win Iran war repair contracts 4/22
