Economics
Shell flags profit hit from weakness in gas trading and chemicals business
Shell expects quarterly earnings to be hit by weaker trading in its integrated gas division and losses at its chemicals and products operations, it said on Monday ahead of second-quarter results due on July 31.
Air Liquide to invest up to $200 MM in Louisiana, U.S. to support industrial growth
Air Liquide will invest up to $200 MM in Louisiana, U.S., to modernize and connect an air separation unit (ASU) to its existing network.
China's Shandong raises fuel oil import tax rebates for some refineries
The provincial government of Shandong, China's refining hub, has increased fuel oil import tax rebates for six independent refineries to improve their profitability as they struggle with low margins and fuel demand.
Vitol group submits bid above $10 B for Citgo's parent
A group led by commodities trading house Vitol submitted a bid exceeding $10 B in the final hours of a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum.
OCI Global completes $1.9-B sale of OCI Methanol to Methanex Corporation
OCI Global announced the successful closing of the divestment of 100% of its equity interests in its Global Methanol Business (OCI Methanol) to Methanex Corporation (Methanex) for $1.9 B.
UK's Lindsey oil refinery insolvent, 420 jobs at risk
Britain's Lindsey oil refinery has begun insolvency proceedings, putting hundreds of jobs at risk and potentially increasing the country's reliance on fuel imports just weeks after its Grangemouth refinery stopped processing oil.
California (U.S.) should raise fuel imports, pause margin cap, regulator says
California's energy regulator on Friday recommended new rules to encourage more private investment in fuel imports and a pause on refiner profit limits, hoping to stop gasoline prices from skyrocketing in the state as it braces for the closure of two of its major refineries.
SABIC announces closure of Olefins 6 facility in Teesside, UK
SABIC will permanently close its Olefins 6 facility at the Wilton site. Operating since 1979, the plant has been a major part of the region’s chemical manufacturing landscape for decades.
Vietnam says its refineries not yet affected by Middle East tensions
Refineries in Vietnam are not being affected by the tensions in the Middle East at the moment, the Ministry of Industry and Trade said.
INEOS responds to UK Government's industrial strategy
• STATEMENT: On the UK Government’s new industrial strategy and the future of British manufacturing
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