Europe
Bulgaria investigates possible fixing of fuel prices
The Commission for Protection of Competition is investigating the Bulgarian units of Royal Dutch Shell, OMV, Hellenic Petrolleum, Nis Petrol, Lukoil, Rompetrol and Bulgarian Petrol.
AkzoNobel to buy BASF’s industrial coatings unit
The business generated revenue of about €300 million in 2015 and supplies products for a number of end uses, including coil, wind energy and general industry, and commercial transport.
Small diesel cars seen as vulnerable to European emissions test reforms
Industry officials estimate that 5% of planned diesel auto models might be withdrawn or changed during a first phase of implementation, and more later.
Genomatica, Eni’s Versalis make bio-butadiene via renewable feedstocks
The success of this innovative undertaking results from a newly-developed process for the on-purpose production of butadiene which uses various types of sugars as feedstock.
Shell completes $53-billion acquisition of global LNG leader BG Group
The complex merger is based on a desire to transform Shell into a more specialized group, focused on the rapidly growing LNG market and deepwater oil production.
Libya seizes foreign tanker, alleges fuel smuggling
The vessel, the Captain Khayyam, was stopped in Libyan waters on Friday night 25 miles northwest of Zuwarah city, and was carrying 1.6 million liters of gasoline.
Iran begins ramping up crude oil shipments to Mediterranean refiners
Iran has lowered its prices to refineries along the Mediterranean Sea in an effort to compete with rivals, which had moved to grab Iran's market share when it was driven out of Europe.
Downstream strength enables France’s Total to exceed expectations
The company saw high margins in refining and chemicals and a strong performance in its retail and lubricant businesses. Total fared better than many peers in the quarter, as its extensive downstream business benefited from weak oil prices.
Lanxess, Saudi Aramco to launch rubber venture ARLANXEO this April
LANXESS and Saudi Aramco signed an agreement to create a 50:50 joint venture for the development, production, marketing, sale and distribution of synthetic rubber.
BP announces 3,000 downstream job cuts as earnings decline
BP will eliminate 3,000 jobs from its downstream division by the end of 2017. Those reductions are on top of 4,000 cuts in its oil and gas production unit announced last year.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
