Economics
Brazil's Petrobras to invest $4.8 B in integration between Reduc refinery and Boaventura complex
Brazilian state-run oil firm Petrobras will invest 26 billion reais ($4.8 billion) in an integration between the Reduc refinery and the Boaventura energy complex in Rio de Janeiro state.
Brazil's energy minister hints at possible fuel price cuts
Brazil's Mines and Energy Minister Alexandre Silveira suggested that gasoline and diesel prices could soon be lowered in the country, where state-run oil giant Petrobras controls most of the refining capacity.
Angola hikes diesel price again to bolster public finances
Angola hiked the diesel price by one-third from Friday as part of the government's drive to curb costly subsidies and shore up public finances.
Diesel East-West price spread nears 1.5-yr high amid supply concerns West, stable East
The front-month diesel East-West price spread hit its widest in 1.5 yr of slightly more than $73 per tonne (t) at Asia market close, LSEG data showed on Monday, underscoring supply concerns in the West and steady Asian fundamentals.
U.S. Gulf Coast fuel oil imports at record low as refiners opt for heavier crude
Fuel oil imports into the refinery hub on the U.S. Gulf Coast hit a record low in June as tighter global supplies prompted refiners to run more heavy, sour crude.
Shell flags profit hit from weakness in gas trading and chemicals business
Shell expects quarterly earnings to be hit by weaker trading in its integrated gas division and losses at its chemicals and products operations, it said on Monday ahead of second-quarter results due on July 31.
Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth
Air Liquide will invest up to $200 MM in Louisiana, U.S., to modernize and connect an air separation unit (ASU) to its existing network.
China's Shandong raises fuel oil import tax rebates for some refineries
The provincial government of Shandong, China's refining hub, has increased fuel oil import tax rebates for six independent refineries to improve their profitability as they struggle with low margins and fuel demand.
Vitol group submits bid above $10 B for Citgo's parent
A group led by commodities trading house Vitol submitted a bid exceeding $10 B in the final hours of a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum.
OCI Global completes $1.9-B sale of OCI Methanol to Methanex Corporation
OCI Global announced the successful closing of the divestment of 100% of its equity interests in its Global Methanol Business (OCI Methanol) to Methanex Corporation (Methanex) for $1.9 B.
- Fire at Russian petrochemicals plant kills at least three 4/2
- NH3 Clean Energy selects Linde to deliver FEED for the WAH2 project 4/2
- Phelan Green selects Honeywell process technology for flagship South African eSAF facility 4/2
- Metafuels secures Dutch government grant to advance Rotterdam eSAF project 4/2
- Topsoe partners with Hynfra P.S.A. to advance green ammonia in Jordan 4/2
- China calls for independent refiners to maintain fuel output amid war disruption 4/2
