Economics
Avril expects biofuel-driven profit surge by 2030
French oilseeds group Avril expects its core profit to increase by over half by the end of the decade as its crop-based food, fuel and industrial products meet demand for lower-carbon goods.
Russia's Orsk refinery declares force majeure on fuel supply due to floods
Russia's Orsk oil refinery, which has halted output after widespread floods, declared force majeure on fuel supplies from April 8, according to a document issued by plant owner Forteinvest.
Borealis invests $4.95 MM in Porvoo steam cracker
Borealis announced a $4.95 MM investment in the cracker furnaces of its olefins unit in Porvoo, Finland.
Singapore’s EU ETS liabilities of $363 MM can accelerate green shipping initiatives
Singapore-registered vessels will be required to contribute a significant $363 MM share of Asian shipping’s total emissions liabilities under the EU ETS, underlining the importance of the Lion City as a key maritime hub for both global trade and decarbonization.
Scaling up SAF production with Fischer Tropsch technology
Johnson Matthey announced that DG Fuels has selected its award-winning Fischer Tropsch CANS technology – co-developed with bp – for DG Fuels’ first SAF plant in St. James Parish, Louisiana (U.S.).
Yokogawa upgrades the CENTUM VP integrated production control system
Yokogawa Electric Corporation announced the May 31, 2024 release of CENTUM™ VP R6.11.10, an enhanced version of the CENTUM VP integrated production control system that is a core product in the OpreX™ Control and Safety System family of solutions.
Biden administration's (U.S.) initial SAF subsidy model to raise climate hurdle for ethanol
The Biden administration will release a preliminary climate model for its SAF subsidy program in the coming weeks that is more restrictive than what the corn-based ethanol industry had expected.
OCP and Fortescue to partner to develop green energy, hydrogen and ammonia in Morocco
OCP Group and Fortescue Energy announced a landmark JV in Morocco which aims to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets.
Bureau Veritas awards Approval In Principle for methanol dual fuel system to Sasaki Shipbuilding
Bureau Veritas has granted an Approval in Principle to Sasaki Shipbuilding Co., Ltd for its methanol dual fuel system applied in a 9,000 DWT General Cargo Ship.
U.S. refiners and chemical manufacturers lead hydrogen production and consumption
U.S. manufacturers specializing in chemicals and petroleum refining have traditionally accounted for the largest shares of both hydrogen consumption and production, and they pay the least for it.
- OMV receives €450-MM loan from the European Investment Bank for its 140-MW green hydrogen production facility 7/13
- Poland's Unimot says it will supply crude to Germany's Schwedt refinery 7/13
- Hormuz traffic slows to two-month low as renewed U.S., Iran strikes raise safety risk 7/13
- Sinopec deepens aviation fuel push with CNAF restructuring 7/13
- Indian naphtha premiums surge as Gulf, Russian supply tightens 7/13
- Less than a month's supply: Europe's jet fuel stocks are wafer thin as Iran tensions flare 7/13
