Economics
Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict
Asian refiners have requested more term crude oil supplies loading in August and September from producers in the Middle East after spot premiums jumped.
Oil tanker market signals more Middle East energy disruption ahead
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.
U.S. EIA forecasts new export licensing requirements will reduce U.S. ethane exports
The U.S. EIA forecast U.S. ethane exports will decrease by 80,000 bpd this year and by 177,000 bpd in 2026 because of new licensing requirements U.S. exports of ethane to China.
INEOS to cease phenol production at German site, cites high European energy costs and CO2 tax policy
INEOS Phenol, the world's largest producer of phenol and acetone, announced its intention to permanently stop production at their site in Gladbeck, Germany. Sky high European energy costs alongside Europe’s punitive CO2 tax policy have combined to leave Europe uncompetitive against imported Chinese production and a global oversupply.
Canadian court orders NOVA Chemicals to pay Dow an additional $1.2 billion judgment
The Court of King's Bench of Alberta, Canada has issued a judgment ordering NOVA Chemicals Corporation to pay Dow an additional amount of CAD$1.62 billion (equivalent to approximately USD $1.2 billion) in damages. The judgment, signed on June 10, 2025, relates to losses Dow incurred from the companies' jointly owned ethylene asset in Joffre, Alberta, Canada.
AB Foods holds off bioethanol plant closure decision until June 25
Associated British Foods will hold off deciding the fate of its under threat Vivergo bioethanol plant in Hull, northern England, until June 25, hoping the government will step in with a support package.
White House completes review of EPA's biofuel-blending obligation proposal
The White House has completed its review of a proposal regarding U.S. biofuel-blending obligations and returned the rule to the Environmental Protection Agency (EPA) for further action.
Plug Power, Allied Green Ammonia partner for $5.5-B, 2-GW electrolyzer project to produce SAF, green urea and green diesel
Plug’s electrolyzer technology has been selected as the foundation of a new $5.5-B billion green chemical production facility in Uzbekistan that will produce sustainable aviation fuel, green urea, and green diesel.
Private refiners tap India's drivers as export markets tighten
India's two major private-sector refiners, which have long prioritized exports, are turning to local sales, grabbing share in the country's fast-growing $150-B fuel retail market as weaker global demand squeezes profit margins offshore.
U.S. Senate Republicans propose eliminating fuel economy fines for automakers
U.S. Senate Republicans on Thursday proposed eliminating fines for failures to meet Corporate Average Fuel Economy rules as part of a wide-ranging tax bill - the latest move aimed at making it easier for automakers to build gas-powered vehicles.
- Britain will not bail out bioethanol industry hit by Trump trade deal 8/15
- Russian energy facilities targeted recently in drone attacks 8/15
- Shell: Norco, Louisiana (U.S.) refinery gasoline unit work to start on Friday 8/15
- Sanctions-hit Indian refiner Nayara in talks with govt to sustain operations 8/15
- The API challenges Trump plan to cut biofuel import credits 8/15
- IAG selects record 29 startups for accelerator program 8/15
