Economics
E-Fuel producer INERATEC receives €70-MM commitment from EIB and Breakthrough Energy Catalyst
The European Investment Bank (EIB) and Breakthrough Energy Catalyst have committed a €70-MM funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-Fuel company.
Russia's Lukoil eyes $2 B from Bulgaria refinery sale
Russia's second-largest oil producer Lukoil plans to raise around $2 B from the sale of its Burgas oil refinery in Bulgaria.
IEA comes under pressure from former oil market chief to cut energy transition focus
The International Energy Agency's former oil industry and market chief criticized the agency's focus on the global energy transition in a report released on Wednesday, and said the IEA should concentrate on oil and gas supplies.
Emerson to acquire remaining outstanding shares of AspenTech
Emerson will acquire all outstanding shares of common stock of AspenTech not already owned by Emerson for $265/share pursuant to an all-cash tender offer. The transaction values the minority stake being acquired at $7.2 B, and values the total company at a fully diluted market capitalization of $17 B with an enterprise value of $16.8 B.
Bahri, Petredec partner to meet Saudi Arabia’s growing LPG and ammonia shipping needs
Bahri (The National Shipping Company of Saudi Arabia) and Petredec have agreed to form a strategic partnership aimed at addressing Saudi Arabia’s increasing LPG and ammonia shipping demands.
Lyondell begins shuttering Houston refinery (U.S.) for permanent closure
Chemicals maker LyondellBasell Industries began shuttering its 263,776-bpd Houston refinery on Monday for permanent closure. The shutdown is expected to be completed by early February.
Russia oil sanctions create different winners at different times
The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.
Radix, Celanese, Cognite partner to develop JO.AI, a groundbreaking generative AI-powered solution
Radix and Celanese will collaborate with Cognite on the development of JO.AI, a groundbreaking generative AI-powered solution designed to revolutionize operations in asset-intensive industries.
Russian oil refining rises as U.S. sanctions target crude
Russian refineries are processing more crude oil in the hope of boosting fuel exports after new U.S. sanctions on Russian tankers and traders made exports of unprocessed crude more difficult.
China 'teapot' refiners halt plants as new fuel tax
Several independent oil refineries in eastern China have halted operations, or plan to do so, for indefinite maintenance periods as new Chinese tariff and tax policies plunge them deeper into losses.
- OXEA confirms final investment decision for major capacity expansion at plant 7/10
- TotalEnergies ships to Asia the first cargo produced by the ECA LNG plant 7/10
- ADNOC L&S expands LNG fleet with order for four new carriers 7/10
- India's ONGC plans to build 13-MMbbl national strategic oil reserve 7/10
- Russian refineries, oil terminal, tankers hit, Ukraine says 7/10
- Tajikistan says it has 60 days' fuel in reserve amid Russian supply crunch 7/10
