Economics
Ecopetrol sells crude to Asia at deeper discounts amid Russia competition
Colombia's Ecopetrol is managing to sustain sales to Asia at about 45% of its crude oil production though rivalry from Russian oil is forcing it to offer deeper discounts, a senior executive said.
SCG Chemicals expected to start production at Long Son plant by September
Long Son Petrochemicals, owned by SCG Chemicals, will start commercial production at its petrochemical complex in southern Vietnam in September, the head of Thai conglomerate Siam Cement Group said.
Turkey stays top destination for Russian June diesel loadings
Turkey will again be the top destination for Russian diesel exports in June, while total shipments are set to rise after seasonal refinery maintenance, traders said.
China refiners stoke petrochemical glut in market-share war
China is relentlessly adding new petrochemical capacity despite a global glut as the country's refiners diversify from transport fuels, threatening to depress margins worldwide through 2024 as weak economic growth saps demand.
Aramco and TotalEnergies award contracts for $11-B Amiral project
Aramco and TotalEnergies today awarded Engineering, Procurement and Construction contracts for the $11-B "Amiral" complex, a future world scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia.
Saudi Aramco sees 'sound' oil outlook for H2 on China, India demand
Saudi Aramco believes market fundamentals remain "sound" for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering.
U.S. lawmaker to re-introduce bipartisan bill to get EV industry into biofuel program
A U.S. Democratic lawmaker plans to reintroduce a bipartisan bill next month that would allow electricity generated from renewable biomass to qualify for credits under the nation's biofuel blending program.
Utilizing various feedstocks to progress SAF production
At Honeywell Users Group 2023, Naved Reza, Director, Business Development Sustainable Technology Solution for Honeywell UOP, delivered a presentation titled "Increasing SAF feedstocks to scale production and decarbonize aviation.”
EU-backed green auditor cracks down on China island biofuel trade
An auditing company empowered by the European Union to verify sustainable fuel has suspended the certification of three Chinese biofuel exporters after an audit found the precise source of their waste products from Malaysia and Indonesia could not be verified.
Nigeria amasses $3-B debt to traders for oil swaps
Nigeria has accumulated up to $3 B in debts to trading houses such as Vitol and oil majors such as bp for fuel supplies and is trailing four to six months behind schedule in repaying them with cargoes of crude.
- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- Air Liquide strengthens partnership with TotalEnergies through renewable H2 project in France 11/25
- Hexagon collaborates with Microsoft to enhance industrial operations 11/25
- China issues extra crude oil import quota to teapot refineries 11/25
- McDermott achieves ISO 50001 Certification for energy management at four fabrication yards 11/25
- DNV certifies first CO2 storage site in Middle East for ADNOC CCS project 11/25
