Economics
Sasol expects profit rebound on higher chemical prices and lower impairments
South African petrochemicals company Sasol expects a rebound in full-year profitability on the back of higher chemicals prices, tighter cost controls and lower asset writedowns, it said.
Indian refiners using term deals as hedge against Russian supply risk
India's state oil refiners will continue to use annual contracts to secure oil supplies and hedge against market volatilities as the future of cheap Russian purchases is in doubt, the oil ministry said in a report to parliament.
India's ethanol drive imperils its push for edible oil self-sufficiency
India's drive to produce more ethanol is leading its farmers to switch away from growing oilseeds, undermining government efforts in the world's largest buyer of cooking oils to reduce costly imports.
Argentina raises biofuel prices for domestic market
The Argentine government raised biofuel prices for the domestic market, according to two resolutions published in the official gazette.
Imperial Oil completes renewable diesel facility at Strathcona refinery (Canada)
Imperial Oil has completed construction of a renewable diesel facility at its Strathcona refinery near Edmonton, Canada, a milestone for Canadian operations.
OC Global signs MoU with Passo Fundo for greenfield ammonia plant in Brazil
Oriental Consultants Global Co., Ltd. signed a Memorandum of Understanding with the City of Passo Fundo, Brazil, concerning support for the construction of an onsite green ammonia plant.
South African tax authorities extend jet fuel lifeline to airports
South Africa's fuels industry body Fuels Industry Association of South Africa (FIASA) welcomed a year-long extension from tax authorities to special licenses for importing and storing jet fuel, helping to avert a potential supply crisis at major airports.
India approves $3.4-B payout to state-run refiners for cooking gas losses
The compensation, approved by Prime Minister Narendra Modi's cabinet, would be paid to state-run Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp.
Consortium selected by NEDO to develop SCC probability evaluation tools for fuel ammonia storage tank and transportation equipment
ClassNK announced that a consortium was selected by NEDO to promote the development of stress corrosion cracking probability evaluation tools for fuel ammonia storage tank and transportation equipment.
Clariant advances plastics stabilizer technology with expanded production and new applications
Clariant increases production capacity for Nylostab™ S-EED stabilizer with second production line in Cangzhou, China
- Phillips 66 greenlights new gas plant and fractionator projects, advancing integrated wellhead-to-market strategy 5/18
- OXEA and Air Liquide renew syngas and hydrogen supply agreement for Oberhausen site 5/18
- BASF boosts refinery catalyst innovation with new R&D center in Attapulgus, Georgia (U.S.) 5/18
- Aster and Puraglobe sign MoU to bring world-leading re-refining technology to Asia 5/18
- U.S. oil refiners finally profit from biofuels due to mandates, high fuel prices 5/18
- China's April oil throughput hits lowest since August 2022, inventories rise 5/18
