Economics
Brazil's Petrobras mulls Mubadala refining partnership
Brazilian state-run oil company Petrobras said it will analyze a proposal from Abu Dhabi sovereign investor Mubadala on creating a strategic refining and biorefining partnership in the northeastern state of Bahia.
Foreign shareholders freeze participation in Russia's Arctic LNG 2
Foreign shareholders are suspending participation in the Arctic LNG 2 Russian liquefied natural gas (LNG) plant project due to sanctions.
More ships carrying oil avoid Red Sea route
At least two ships transporting oil or oil products between the U.S. Gulf Coast and India last week were re-routing from the Red Sea, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.
Russian railway gasoline exports more than doubled in December
Russia more than doubled railway exports of gasoline in the first 17 days of December from the same period in November on lifted fuel embargo and rising production, while domestic demand is seasonally falling.
Singapore's middle distillate stocks fell to a 4-mos low, as exports rise
Singapore's inventories of middle distillates fell further to a fresh 4-mos low of around 8 MMb, as net exports of both diesel/gasoil and jet fuel/kerosene rose.
Eni's Plenitude unit valued at 10 B euros in deal with EIP
Eni has agreed to sell a 9% stake in its low-carbon and retail unit Plenitude to Energy Infrastructure Partners (EIP) through a deal that values the unit at 10 B euros ($11 B) including debt.
EU to investigate Chinese biodiesel dumping allegation
The European Union said it would begin an anti-dumping investigation into biodiesel imports from China, which the bloc's industry says has slashed domestic production.
Venezuela's PDVSA to settle debt to Curacao's refinery with fuel supply
Venezuela's state-run Petróleos de Venezuela, S.A. will supply fuel to Curacao's refinery to settle debts left by the oil company after ceasing operations at the Caribbean island's facility in 2019.
U.S. refiners cut gasoline export prices on Panama Canal drought
U.S. Gulf Coast refiners have reduced gasoline export prices to their lowest since 2021 because restrictions on shipping through the Panama Canal have left exporters unable to send as much of the motor fuel to international markets.
China's Nov diesel exports down 44.9% on last year despite weak domestic demand
China's diesel exports in November were down 44.9% on last year at 1.16 MMt, as domestic demand remains above pandemic levels but faces continued headwinds from the country's property slowdown.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
