Economics
SABIC announces closure of Olefins 6 facility in Teesside, UK
SABIC will permanently close its Olefins 6 facility at the Wilton site. Operating since 1979, the plant has been a major part of the region’s chemical manufacturing landscape for decades.
Vietnam says its refineries not yet affected by Middle East tensions
Refineries in Vietnam are not being affected by the tensions in the Middle East at the moment, the Ministry of Industry and Trade said.
INEOS responds to UK Government's industrial strategy
• STATEMENT: On the UK Government’s new industrial strategy and the future of British manufacturing
Japan will mitigate potential gasoline price spike, prime minister says
Japanese Prime Minister Shigeru Ishiba said the government will act to mitigate any impact from a potential surge in gasoline prices due to the Middle East conflict, implementing a preventative measure starting June 26.
Tankers U-turn, zig-zag, pause around Strait of Hormuz
At least two supertankers made U-turns near the Strait of Hormuz following U.S. military strikes on Iran, shiptracking data shows, as more than a week of violence in the region prompts vessels to speed, pause, or alter their journeys.
Chevron seeks buyers for 50% stake in Singapore refinery
U.S. oil major Chevron has sought non-binding bids for the sale of its 50% stake in Singapore Refining Company (SRC), including from joint venture partner PetroChina.
Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict
Asian refiners have requested more term crude oil supplies loading in August and September from producers in the Middle East after spot premiums jumped.
Oil tanker market signals more Middle East energy disruption ahead
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.
U.S. EIA forecasts new export licensing requirements will reduce U.S. ethane exports
The U.S. EIA forecast U.S. ethane exports will decrease by 80,000 bpd this year and by 177,000 bpd in 2026 because of new licensing requirements U.S. exports of ethane to China.
INEOS to cease phenol production at German site, cites high European energy costs and CO2 tax policy
INEOS Phenol, the world's largest producer of phenol and acetone, announced its intention to permanently stop production at their site in Gladbeck, Germany. Sky high European energy costs alongside Europe’s punitive CO2 tax policy have combined to leave Europe uncompetitive against imported Chinese production and a global oversupply.
- Chiyoda, AVEVA forge strategic partnership to power plantOS with AVEVA CONNECT 6/27
- SABIC announces closure of Olefins 6 facility in Teesside, UK 6/27
- LyondellBasell's polyolefin technologies selected by SHCCIG Yulin for petrochemicals complex in China 6/27
- Damaged unit of Iran's South Pars refinery back operating 6/27
- hte conducts research for JGC to advance decarbonization by identifying suitable catalysts for ammonia cracking 6/26
- TES and CPC Finland to develop 500-MW e-NG project in Finland 6/26
