Economics
HSBC to arrange funds for $1.49-B expansion project at Vietnam's Binh Son refinery
Binh Son Refining and Petrochemical has chosen HSBC Bank as the export credit agency for a project to expand its Dung Quat refinery.
Oil prices rise after positive U.S. economic data
Oil futures rose on Thursday bolstered by slower than expected inflation and a stabilizing U.S. job market, providing positive signs for future rate cuts and demand.
Singapore middle distillate stocks tumble to nearly three-month low
Singapore's middle distillates stocks slid to a nearly three-month low this week, falling below 11 MMbbl for the first time in a month as gains in jet fuel/kerosene net exports offset declines in diesel/gasoil net exports.
Itochu to buy green ammonia from HIVE's $5.9-B Coega facility
A division of Hive Energy Ltd. announced that a consortium led by Japanese trading giant Itochu Corp. is on the verge of finalizing an agreement to purchase environmentally friendly ammonia from a project located in South Africa.
Higher refinery costs could increase summer gasoline prices says US EIA
Average monthly prices for regular-grade retail gasoline in the U.S. could increase by more than $0.10/gal if refinery output is lower than expected, according to an analysis published by the U.S. Energy Information Administration (EIA).
SunGas Renewables, C2X partner to expand green methanol production capacity in North America
SunGas Renewables Inc. and C2X LLC announced a strategic partnership with the aim to develop, own and operate multiple green methanol production facilities in North America to increase the supply of sustainable fuels and advance global decarbonization of hard to abate industries.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
GCC industry leaders solidify commitment toward plastic circularity
Arabian Gulf industry leaders reaffirmed their commitment to adopting a collaborative approach to develop plastic circularity, invest in Design for Recycling (DfR) and address plastic waste at the 13th annual Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference.
ADNOC delivers first bulk shipment of CCS-enabled, low-carbon ammonia to Japan
ADNOC has delivered the world’s first certified bulk commercial shipment of low-carbon ammonia enabled by carbon capture and storage to Mitsui & Co., Ltd. for use in clean-power generation in Japan.
Japan's Idemitsu books 41-B ($263-MM) yen loss on Vietnam's refinery in 2023/24
Japanese oil refiner Idemitsu Kosan said on Tuesday it booked a 41.1-B yen ($263 MM) provision for bad debt related to the Nghi Son Refinery and Petrochemical in Vietnam for the year ended March 31 due to heavy costs from rising U.S. interest rates.
- OCI Global completes $1.9-B sale of OCI Methanol to Methanex Corporation 6/30
- Partnership for sustainability: Pekutherm and POLYVANTIS launch circular economy initiative 6/30
- Lloyd’s Register signs strategic collaboration with DAI Infrastruktur for green ammonia Project Ra 6/30
- Alleima expands product portfolio for the urea industry with SAF™ 2906 6/30
- UK's Lindsey oil refinery insolvent, 420 jobs at risk 6/30
- Turkey to set SAF mandates for airlines, suppliers 6/30
