Economics
Sri Lanka to begin talks with India, UAE for new energy hub
Sri Lanka will start work next month on plans to develop an energy hub with India and the United Arab Emirates, as the nation looks to leverage its strategic location to cement a recovery from a financial crisis.
S-Oil posts refining, petrochemical losses; expects US tariffs to affect margins in Q2
South Korea's S-Oil, majority owned by Saudi Aramco, posted losses in the first quarter from its refining and petrochemical units and expects second-quarter margins to be impacted by U.S. tariff negotiations and market volatility.
Kuwait Petroleum's stake investment in China Wanhua Chemical's unit valued at $638 MM
Kuwait Petroleum subsidiary's acquisition of a 25% stake in China Wanhua Chemical's petrochemical business is valued at $638 MM
Chemical maker LyondellBasell misses quarterly profit estimates on weak volumes
LyondellBasell on Friday missed Wall Street expectations for quarterly profit, due to maintenance downtime and lower volumes in its largest segment supplying raw materials to the automotive, construction and electronics industries.
China's Sinopec partners with Saudi Aramco's unit in $4-B JV
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture (JV) company with a registered capital of 28.80 B yuan ($3.95 B).
Dow Chemical delays construction on multi-billion-dollar Path2Zero project in Fort Saskatchewan, Alberta, Canada
After a reported Q1 loss, Dow Chemical plans to launch an action plan to further reduce spending and deliver $6 B in cash support. The plan includes delaying construction on the company's multi-billion-dollar Path2Zero project in Alberta, Canada.
Aster Chemicals to bid for ExxonMobil's Singapore fuel stations
Aster Chemicals and Energy, the new operator of the Bukom refining complex, is planning to bid for ExxonMobil's petrol stations in Singapore, as the refiner seeks retail fuel sales outlets.
U.S. refiner Phillips 66 posts bigger-than-expected quarterly loss on lower margins
Phillips 66 has reported a bigger-than-expected loss for the first quarter, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector.
Indian Oil plans to operate Gujarat refinery at higher capacity from mid-2026
Indian Oil Corp. plans to operate its Gujarat refinery in western India at an expanded capacity of 360,000 bpd by mid-2026, executive director Biplob Biswas said.
Valero Energy reports first-quarter loss on lower margins, impairment charges
Valero Energy reported a first-quarter loss compared with a year-ago profit, weighed down by lower refining margins and around $1 billion in impairment charges related to its West Coast assets.
- Borouge set to boost production capacity to over 6.6 MMtpy 4/28
- Sri Lanka to begin talks with India, UAE for new energy hub 4/28
- S-Oil posts refining, petrochemical losses; expects US tariffs to affect margins in Q2 4/28
- Kuwait Petroleum's stake investment in China Wanhua Chemical's unit valued at $638 MM 4/28
- Chemical maker LyondellBasell misses quarterly profit estimates on weak volumes 4/28
- Trump administration (U.S.) to allow temporary sales of summertime higher-ethanol fuel 4/28
