Economics
U.S. crude, gasoline inventories fall more than expected
U.S. crude stocks drew more than expected on strong refining demand, while gasoline inventories posted a large draw after an increase in driving last week, the Energy Information Administration said.
thyssenkrupp Uhde Oleochemicals Thailand wins contract for alkoxylation reactor unit
thyssenkrupp Uhde Thailand has been awarded a contract by BASF for engineering services and proprietary equipment supply for its new non-ionic surfactant plant at its Zhanjiang Verbund Site Project, Guangdong Province, China.
Nigeria's petrol use down 28% after subsidy scrapped, regulator says
Nigeria's average daily petrol consumption has fallen by 28% since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator shows.
Venezuela's PDVSA freezes petcoke deliveries to Maroil amid contract dispute
Venezuela's state-run oil company PDVSA has suspended deliveries of petroleum coke to a company owned by a Venezuelan shipping magnate amid a commercial dispute over a sales contract, two sources with knowledge of the decision said.
Kuwait hopes to have higher oil production quota as country ramps up capacity
Kuwait's oil minister said that his country hopes to have a higher oil production quota when it ramps up capacity, and that Kuwait remains committed to OPEC decisions.
Biofuel maker CropEnergies profit falls on lower ethanol prices
German biofuel producer CropEnergies reported a drop in first-quarter core profit, hit by softer ethanol prices and lower production due to maintenance shutdowns.
CPC limits oil intake due to power outage in Kazakhstan
The Caspian Pipeline Consortium has stopped three pumping stations in western Kazakhstan because of a power outage in the region, the CPC said.
Bunge, Chevron acquire Argentina's Chacraservicios to meet renewable diesel demand
Grains merchant Bunge and oil major Chevron said they have acquired Argentina-based agricultural product company Chacraservicios, as the companies look to expand their renewable energy footprint.
INEOS takes step forward in Southern France with the acquisition of TotalEnergies’ petchem assets at Lavera
INEOS has signed a deal to acquire TotalEnergies’ 50% share of Naphtachimie, Appryl, Gexaro and 3TC, which are all currently joint ventures between the two companies.
Caught between riots and debt crises, African countries cut fuel subsidies
Senegal, like Nigeria and Angola, is removing costly fossil fuel subsidies – a move once considered politically unthinkable but which has become a necessity due to crushing debt, a spike in borrowing costs and high fuel prices.
- Transition Industries signs agreements for the Pacifico Mexinol Project, an ultra-low carbon chemical production facility 7/3
- Bangkok Airways introduces SAF on commercial flights 7/3
- EcoCeres secures SAF contract with British Airways to help reduce carbon emissions 7/3
- Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth 7/3
- MOL completes the acquisition of LBC Tank Terminals 7/3
- BHP awards charter contracts for two ammonia dual-fueled vessels 7/3
