Economics
India's Iran oil imports surge to highest in at least 15 years
India's daily oil imports from Iran in August surged to their highest in at least 15 years as the OPEC producer boosted its shipments to recoup market share ceded to rivals Saudi Arabia and Iraq under pressure from economic sanctions.
Bill Gates, Total lead $14 MM investment in Renmatix for biorefinery technology
Bill Gates and Total have decided to invest $14 MM in Renmatix, a producer of cellulosic sugar technology used to create biofuels.
Irving Oil finalizes purchase of Whitegate refinery from Phillips 66
Irving Oil has finalized its purchase and sale agreement with Houston-based energy, manufacturing and logistics company Phillips 66 to acquire the Whitegate refinery located near Cork, Ireland.
Shell signs agreement to sell Denmark refining business
Shell has reached an agreement with Dansk Olieselskab for the sale of Dansk Shell in Denmark, which consists of the 70 Mbpd Fredericia refinery and local trading and supply activities, for approximately $80 MM.
Philadelphia Energy Solutions ends bid to go public
Philadelphia Energy Solutions ended its bid to take the company public, capping a string of bad news for the largest refinery on the US East Coast.
Three firms vie for BP’s share in SECCO JV petrochemical plant
At least three leading chemical companies are set to vie for BP's stake in Chinese petrochemicals JV SECCO which could fetch more than $2 B.
TPC Group to sell Baytown facility to SI Group
TPC Group has reached an agreement to sell its Baytown operations facility to SI Group. The operations include manufacturing assets for nonene, tetramer, and other propylene derivatives.
Linde Engineering NA expands use of AspenTech software
Linde Engineering North America Inc. has standardized Aspen Technology’s Aspen Capital Cost Estimator technology.
EIA: Narrowing crude oil prices contribute to converging refining profits
Earnings per barrel of crude oil and other inputs processed by refiners that operate mainly in North America were lower in the second quarter of 2016 compared with the same time last year and are now close to per-barrel earnings by refiners operating elsewhere.
China fuel exports cast Q4 pall over global oil products
China's state oil refiners are readying to export more diesel and gasoline in coming months in an already saturated global market.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
