Economics
Vitol ships gasoline and MTBE cargoes to Mexico
Mexican state energy company Pemex has resumed dealing with Vitol nearly three years since deals with the world's largest independent energy trader were banned over a graft scandal.
Volvo to end diesel car production by early 2024
Volvo Cars said that it will end production of any remaining diesel models by early 2024 as it heads towards becoming an all-electric carmaker.
EU lawmakers to grill new climate chief on fossil fuels
Lawmakers in the European Parliament plan to grill Wopke Hoekstra, who is poised to be the EU's next climate change chief, on how he would phase out fossil fuel subsidies and set a new emissions target for 2040.
BASF launches first biomass balance plastic additives
BASF announced the launch of the industry’s first biomass balance offerings for plastic additives.
Russia and China to build oil transshipment complex for $686 MM
Russia's United Oil and Gas-Chemical Co. and China's Xuan Yuan Industrial Development have agreed to jointly invest $686 MM in construction of a transshipment oil complex in Russia's far east.
France to let fuel retailers sell below cost in inflation fight
The French government plans to temporarily lift a ban on retailers selling road fuel below cost as part of efforts to stem inflationary pressures on households.
Pakistan raises petrol, diesel prices by record amount
Pakistan announced a record rise in petrol and diesel prices, the second big increase in two weeks for the South Asian nation that is already struggling with high inflation.
Russia considers temporary fuel export ban due to domestic crunch
The Russian government is considering a complete ban on the export of oil products for a certain period of time in order to stabilize domestic fuel prices.
Galp's Sines refinery to shut down for two months
Portugal's 226,000-barrels-per-day Sines refinery, owned by Galp Energia , will shut down for two months between October and November for planned maintenance.
China's diesel exports surge in August, have nearly tripled so far in 2023
China's diesel exports in August surged from a year earlier and have nearly tripled so far in 2023 compared to the same time a year ago, data showed, as refiners take advantage of strong regional refining margins to ship fuel overseas.
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- Kumho Mitsui Chemicals to increase capacity of MDI production facilities 12/15
- ABS, Eneos, NYK Line and Seacor Holdings launch joint study to develop a methanol marine fuel supply network in the U.S. 12/15
- ENEOS accelerates AI-driven materials discovery of immersion cooling fluids and novel catalysts Using NVIDIA ALCHEMI 12/15
- SAMSUNG E&A wins FEED contract for nearly $5-B SAF plant in the U.S. 12/15
