Management
Indian refiners using term deals as hedge against Russian supply risk
India's state oil refiners will continue to use annual contracts to secure oil supplies and hedge against market volatilities as the future of cheap Russian purchases is in doubt, the oil ministry said in a report to parliament.
U.S. United Steelworkers union sets proposals for next refinery worker contract
The current four-year contract covering 30,000 workers expires shortly after 12 a.m. on Feb. 1, 2026. The USW members work at refineries that account for over half of national crude oil processing capacity.
Baker Hughes to acquire Chart Industries for $13.6 B
Baker Hughes said it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, outbidding rival Flowserve to expand in the LNG, data centers and decarbonization segments.
Valero Energy beats Q2 profit estimates as refining margins improve
Refiner Valero Energy beat Wall Street estimates for second-quarter profit as a rebound in refining margins helped cushion the loss in its renewable diesel unit.
Dow forecasts sales below estimates, slashes dividend as downturn takes a toll
Dow halved its dividend and forecast third-quarter revenue below analysts' expectations as the chemicals maker navigates a prolonged downturn in the industry, sending its shares down nearly 10% in premarket trading.
German chemical lobby VCI sees no sector recovery before 2026
Germany's chemical industry lobby VCI does not expect a sector upswing before 2026, even though the rapid downtrend the chemical-pharmaceutical industry has seen in recent years seems to be over.
Dow to close three European chemical plants, cut 800 jobs
Dow Chemical will shut down three chemical plants in Europe and cut around 800 jobs in response to structural challenges in the region, the chemicals company said. The company said the shutdowns will remove higher-cost, energy-intensive portions of Dow's portfolio in Europe.
Gunvor plans to halt oil terminal activities at Europoort refinery
Global commodities trading house Gunvor intends to mothball the terminal activities at its Europoort oil refinery in Rotterdam, Netherlands
Brazil's Petrobras to invest $4.8 B in integration between Reduc refinery and Boaventura complex
Brazilian state-run oil firm Petrobras will invest 26 billion reais ($4.8 billion) in an integration between the Reduc refinery and the Boaventura energy complex in Rio de Janeiro state.
UK's insolvent Lindsey oil refinery secures some crude supply to keep running for now
Britain's insolvent Lindsey oil refinery has secured some crude supplies to stave off immediate closure, the UK energy ministry said, but a source familiar with the situation said the agreement with supplier Glencore was limited.
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- Europe set for record LNG imports in 2026 1/23
- Plug Power completes installation of 100-MW GenEco electrolyzer units at Galp’s Sines refinery 1/23
- Reju announces site selection for first U.S. industrial-sized facility regeneration hub 1/23
- Engineering a low-cost alternative catalyst for producing sustainable petrochemicals 1/23
- New report identifies methanol-to-jet as a key accelerator of the next wave of sustainable aviation fuel 1/23
