Economics
Aramco completes $3.4 B purchase of Rongsheng Petrochemical stake
Aramco has successfully closed a landmark transaction to acquire a 10% interest in Rongsheng Petrochemical Co. Ltd. for $3.4 B through its subsidiary Aramco Overseas Company BV, based in the Netherlands.
Iraq and Lebanon sign MoU on Iraq providing Lebanon with fuel oil and crude oil
Iraq and Lebanon signed a memorandum of understanding (MoU) on Iraq providing Lebanon with fuel oil and crude oil, the Iraqi state news agency INA reported
Corpus Christi plastics plant construction will create up to 2,400 jobs at its peak
The completed Jumbo plastics project will be capable of producing between 1.1 million and 1.3 million metric tons of purified terephthalic acid, and polyethylene terephthalate.
Air Canada explores possible use of lower-carbon plane fuel
Canada's largest airline has inked a deal seeking to bring in more lower-carbon aviation fuel from green hydrogen and carbon dioxide by 2025.
Pakistan fuel pump operator association calls national strike
Fuel pump operators across Pakistan are to hold a nationwide strike on July 22 in a bid to secure larger margins amid an inflation crisis.
Gazprom Neft's vessels to use biofuel produced from waste cooking oil
Russia's successor to McDonald's has teamed up with energy company Gazprom Neft to fuel marine vessels with biofuel produced using waste cooking oil an effort to lower their carbon footprints.
China's June fuel oil imports at year-to-date high on firm Russian volumes
China's June fuel oil imports hit the highest level for a month so far in 2023, buoyed by firm purchases of Russian oil, data from the General Administration of Customs showed.
NOVA Chemicals announces company’s first mechanical recycling facility operated by Novolex
NOVA Chemicals Corporation has made a significant expansion of its Circular Solutions business today by announcing an investment into developing its first mechanical recycling facility in Connersville, IN.
Higher Brazil ethanol blend would take extra 3.5% sugar from market
The Brazilian government's proposal to increase ethanol blending in gasoline to 30% from 27% currently would lead to using an additional 3.5% of the country's recoverable sugar to make ethanol.
U.S. looks to Mexico for in-demand sour crude barrels
The United States is on track in July to take in higher imports of crude oil from Mexico for a second month, as global demand for sour crudes ramps up following production cuts from OPEC+ that have cut off a pivotal source.
- 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
