Economics
ADNOC closes acquisition of 24.9% stake in OMV
ADNOC announced that it has formally closed the acquisition of a 24.9% shareholding in OMV AG, a global energy and chemicals group, headquartered and listed in Vienna, Austria, from Mubadala Investment Company.
Seeq announces generative AI capabilities with Seeq AI assistant
Seeq has unveiled the Seeq AI Assistant, a generative AI resource embedded across its industrial analytics platform.
Singapore's middle distillates inventories cross 10 MMbbl
Singapore's middle distillates inventories surged more than 1MMbbl week on week to more than a three-month high level despite gains in net exports for both jet fuel, kerosene, diesel and gasoil.
Borouge expands global presence with new offices in Kenya and South Korea
Borouge announced that it has established offices in Kenya and South Korea as part of its strategic initiative to expand its market share in high-growth geographies.
OQEMA and BASF collaborate on amines in the UK and Ireland
BASF has strengthened its partnership with OQEMA, one of Europe’s leading chemical distributors, with regard to BASF’s standard amines portfolio excluding ethanolamines in the UK and Ireland, effective January 1, 2024.
Biden-Harris administration (U.S.) allocates $366 MM to reduce energy costs and boost security in rural areas nationwide
As part of President Biden’s Investing in America agenda, the U.S. Department of Energy announced more than $366 MM for 17 projects across 20 states and 30 Tribal Nations and communities to accelerate clean energy deployment in rural and remote areas across the country.
China's aviation fuel demand expected to rise 13% in 2024
China's aviation fuel consumption is likely to expand 13.1% this year on a surge in passenger travel, but its crude oil imports may stay flat, according to forecasts by a research arm of state energy giant China National Petroleum Corp.
European airlines secure supplies of low-carbon jet fuel
European airlines are signing SAF deals needed to meet carbon-reduction targets set by the European Union.
U.S. biofuel credit prices hit 3-year low, expected to stay weak, EIA says
U.S. biomass-based diesel and ethanol compliance credit prices have slumped to three-year lows on declining feedstock costs and are set to stay low as renewable diesel output rises.
ACC comments on 45V clean hydrogen production tax credit proposal
The American Chemistry Council issued the following statement after submitting comments to the Internal Revenue Service in response to the Section 45V Clean Hydrogen Production Tax Credit Notice of Proposed Rulemaking.
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
- Russia's Lukoil restoring cracker at NORSI refinery, gasoline output rising 11/22
- Nigeria's local currency crude sales fall short of target, Dangote refinery says 11/22
- U.S. October gasoline imports hit post-pandemic low on slump in European shipments 11/22
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
