Europe
European oil giants step back from renewables path
Almost five years ago, bp embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay investor concerns over future profits.
Spain's Moeve swings to quarterly loss on weak refining margins
Spain's second-largest oil company, Moeve, formerly known as Cepsa, posted a third-quarter loss after a sharp decline in refining margins hit its energy business.
Asia naphtha supply expected to remain tight over next two years
Naphtha is expected to remain in short supply in Asia over the next couple of years as more crackers come online and as demand for blending the fuel with gasoline rises.
SOCAR, Baker Hughes partner on integrated gas recovery, H2S removal system at the Heydar Oil Refinery
Baker Hughes and SOCAR signed a contract for an integrated gas recovery and hydrogen sulfide (H2S) removal system that will significantly reduce downstream flaring at SOCAR’s Heydar Aliyev Oil Refinery in Baku, Azerbaijan.
Germany blocks oil firms from using past emissions credits to support biofuel industry
The German cabinet approved reforms to restrict oil companies from carrying excess emissions reductions credits forward, in a step aimed at boosting the biofuel industry that was hit by a quick drop in carbon prices in recent years.
Digital Exclusive: U.S. flip-flop jeopardizes global treaty to end plastic pollution
Rob Benedict, Vice President, Petrochemicals and Midstream, American Fuel and Petrochemical Manufacturers (AFPM), details the Biden administration's (U.S.) flip-flop on allowing individual countries to take their own path to tackle plastics pollution, and instead, wants universal plastic production caps and the banning of certain chemicals. Mr. Benedict details why this approach will only hurt the global objective to end plastic pollution.
Exolum begins demonstration of transport and storage of green H2 in existing terminal infrastructure
Exolum has started the world’s first project to transport and store green H2 on a commercial scale in existing oil infrastructure using liquid organic H2 carriers (LOHCs).
Shell wins appeal against landmark Dutch climate ruling
Oil and gas major Shell on Tuesday won an appeal against a landmark ruling that required it to accelerate carbon reduction efforts, dealing a blow to campaigners who have turned to legal channels to pursue climate action.
Qair to develop 200,000-tpy e-methanol project on Haropa Port site in Le Havre (France)
Renewable energy company Qair announced that it has been awarded a parcel on Haropa Port site, in Le Havre, France, to develop its 200,000-tpy e-methanol production project Methavert.
GoodFuels successfully delivers sustainable B30 biofuel blend to Norwegian Dawn at Ijmuiden
Norwegian Cruise Line’s Norwegian Dawn received a GoodFuels B30 sustainable biofuel blend. The B30 biofuel blend, produced exclusively from feedstocks certified as 100% waste and residues, offers a sustainable alternative that avoids competition with food resources.
- India not to raise petrol, diesel retail prices despite tax hike 4/7
- China teapot oil refiners improve run rates but demand woes, sanctions weigh 4/7
- U.S. refiners' shares hit near 2-yr lows as Trump tariffs spur fuel demand fears 4/7
- Update: India's fuel demand hits 10-month high in March 4/7
- Oil and gas investor Afreximbank earmarks $3 B to support locally-refined products 4/7
- China's Wanhua Chemical starts operation at new east China cracker 4/4
