Economics
Elliott builds $2.5-B stake in Phillips 66, pushes for midstream business sale
Elliott Investment Management said on Tuesday it has built a stake of more than $2.5 B in U.S. refiner Phillips 66 and plans to push for operational changes and the sale of the company's midstream business.
Russia may ban gasoline exports for a month to stabilize prices
Russia's Federal Anti-Monopoly Service may initiate a one-month ban on gasoline exports to stabilize wholesale prices ahead of the crop-sowing campaign
South Korean petrochemical firms' profits fall in 2024 as oversupply persists
South Korean petrochemical companies LG Chem and Lotte Chemical both suffered losses in 2024, dragged down by oversupply which is set to persist this year, while trade turmoil has dampened the global economic outlook
BP Europa SE announces intended sale of Ruhr Oel GmbH-BP Gelsenkirchen refinery in Germany
BP Europa SE today announced its intention to market its Ruhr Oel GmbH – BP Gelsenkirchen operation in Germany for potential sale. Its assets include the bp refinery in Gelsenkirchen and DHC Solvent Chemie GmbH in Mülheim an der Ruhr.
Power2X awards Worley contract for its 250,000-tpy eFuels Rotterdam project
Power2X has contracted Worley to provide engineering and project management services for its eFuels Rotterdam project–a world-scale production facility for sustainable aviation fuel and ultra-low carbon fuels.
Digital Exclusive: Executive viewpoint-Recycled plastic used in roads as Aramco adopts the circular economy
This article details how Aramco is using recycled plastic waste in the construction of new highways and the program aims to reduce emissions and costs, while improving the quality of road infrastructure by utilizing circularity principles
Borouge achieved a 24% increase in net profit in 2024, reaching $1.24 B
Borouge achieved a 24% year-on-year increase in net profit to $1.24 billion, driven by record production and sales volumes.
China tariff retaliation targets its modest U.S. energy imports
China is the world's top energy importer but its purchases from the U.S. are relatively modest, blunting the impact of Beijing's move on Tuesday to slap retaliatory tariffs on imports of U.S. crude oil, liquefied natural gas (LNG) and coal.
NH3 Clean Energy completes pre-FEED work for WAH2 clean ammonia project in Australia
NH3 Clean Energy announced that it completed the engineering component of its preliminary-front-end engineering and design for its WAH2 clean ammonia project in Australia.
Nigeria to block oil export permits for producers who do not fill refinery quotas
Nigeria's upstream oil regulator said on Monday it would deny export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries, including the Dangote Refinery, Africa's largest.
- Colombia's Ecopetrol to invest up to $700 MM in SAF production plant 4/2
- Ergon to invest $400 MM to expand gasoline production at Vicksburg refinery (U.S.) 4/2
- DB Schenker to use Neste's renewable diesel to decarbonize logistics in Asia 4/2
- U.S. EPA's upcoming proposal on biofuel blending mandates to cover two years 4/2
- ExxonMobil to invest more than $100 MM in Baton Rouge upgrade to produce high-purity isopropyl alcohol 4/2
- Stockholm Exergi to begin building one of the world's largest carbon capture projects using CATACARB Enhanced HPC 4/2
