Economics

U.S. fund and Indonesian oil group to make offer for Sicilian refinery ISAB

Cypriot private equity fund G.O.I. Energy has owned the refinery since buying it from Russian energy group Lukoil in 2023. The plant accounts for around a fifth of Italy's refining capacity.

What's in the EU's 20th package of sanctions against Russia?

The EU had initially aimed to adopt the package to mark the fourth anniversary of Russia's full-scale invasion of Ukraine on February 24.

Europe's response to the Iran war energy crunch

Central to the EU proposals is a focus on reducing reliance on oil and gas, to cushion against future fossil fuel supply disruptions and price spikes.

Iran war may crush oil demand today, but send it soaring long term

Spiking energy security concerns and greater fragmentation could lead to a less efficient, more voracious global energy system.

Oil prices rise after reports container ships in Hormuz hit by gunfire

Oil prices rose 2% on Wednesday, erasing earlier losses after reports of gunfire attacks on at least three container ships in the Strait of Hormuz and a lack of progress in peace talks between the U.S. and Iran.

LOTTE Chemical to merge into integrated corporation after spinning off Daesan plant

Indonesia, Toyota in talks on potential $300-MM bioethanol project

Opinion: Opening Hormuz is the easy part—restoring oil flows isn’t

The immediate impact has been severe. Around 13 MMbpd of oil supply and roughly 300 MMm3d of liquefied natural gas (LNG) have been trapped inside the Gulf, forcing producers to shut in oil fields, refineries and LNG plants and battering economies from Asia to Europe.

XCF, DevvStream, Southern Energy Renewables partner to bring transferable 45Z clean fuel credits to market

Nigerian airlines threaten to halt flights over soaring jet fuel prices