Europe
BASF, SINOPEC expand NPG production capacity in China
LUDWIGSHAFEN, Germany and NANJING, China — BASF and SINOPEC will expand the production capacity of Neopentylglycol (NPG) at the state-of-the-art Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China.
Ineos presses ahead with crude pipeline repairs
LONDON (Reuters) — Ineos said repairs to Britain’s Forties crude pipeline were underway on Wednesday, after a crack was found that closed the pipeline on Dec. 11.
Rosneft does not rule out global oil output cuts extended beyond 2018
SOCHI, Russia (Reuters) — A global deal to cut oil production could be extended beyond 2018, Pavel Fedorov, first vice-president of Russia's largest oil producer Rosneft said on Monday, presenting the company's strategy through to 2022.
Unipetrol's largest minority shareholder to sell stake to PKN Orlen
PRAGUE (Reuters) — Czech downstream oil group Unipetrol's largest minority shareholder Paulinino Limited will sell its stake to majority owner PKN Orlen when it opens a voluntary tender offer next week, Paulinino said on Wednesday.
Oil rises on UK pipeline outage but US supply caps gains
LONDON (Reuters) — Oil edged up towards $64/bbl on Tuesday, helped by a North Sea pipeline outage, OPEC-led supply cuts and jitters about threats to Middle East supplies after a missile was fired by a Yemeni group at the Saudi capital.
Russia's Transneft halts domestic oil product pipeline after spill
MOSCOW (Reuters) — Russian pipeline monopoly Transneft on Monday said it had stopped pumping oil products such as diesel through one of its lines after discovering signs of an oil spill.
Steeper Energy, Silva Green Fuel to build advanced biofuel project
COPENHAGEN, Denmark — Steeper Energy, a Danish-Canadian clean-fuel company, is partnering with Silva Green Fuel, a Norwegian-Swedish JV, to construct a EUR 50.6 MM (DKK 377 MM) industrial scale demonstration plant at a former pulp mill located in Tofte, Norway leading to a future commercial scale project.
Oiltanking commissions new terminal in Mozambique
HAMBURG, Germany — Oiltanking GmbH is pleased to announce the commissioning of its new terminal in Matola, Mozambique. In parallel, Oiltanking will expand its investment in the ports of Matola and Beira by increasing its ownership share in Oiltanking Mozambique.
Nigeria's rush for petrol could save Europe's sagging margins
LONDON (Reuters) — Nigeria's rush to keep its citizens supplied with fuel is expected to boost purchases of European gasoline in December, offering a potential respite to European refineries and storage terminals threatened by an oversupply that has battered margins.
Ineos sticks with 2–4 week Forties pipeline repair estimate, assessing damage
LONDON (Reuters) — Repairing Britain's Forties crude oil pipeline in the North Sea is still expected to take two to four weeks, operator Ineos said on Monday, as assessment continues a week after it was closed down.
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