Economics
Vitol and Glencore to make formal bids for Chevron's Singapore refinery stake
Vitol and Glencore, which have other refining assets in the Asia-Pacific, are keen to acquire more and boost trade volumes in the region.
INEOS Inovyn to mothball its chloromethane production facility in Tavaux, France
INEOS Inovyn announced that is has mothballed its chloromethane production facility in Tavaux, France. The decision reflects persistently weak market demand, regulatory challenges and increased operational and energy costs.
India's Nayara Energy increases fuel supply to HPCL after EU sanctions
Since the imposition of sanctions, Nayara has been operating its 400,000-bpd Vadinar refinery in western India at 70%–80% capacity.
Update: SOCAR inks deal to buy oil refiner Italiana Petroli
People close to the matter had previously said that Italy's Brachetti Peretti family was seeking an enterprise value of around €2.5 B ($3 B) for the company, which holds some €500 MM in cash.
AFPM: U.S. EPA’s RFS proposal doesn’t square with the ‘energy dominance’ agenda
Indonesia's Pertamina to merge refinery, shipping and retail operations
Indonesian state energy firm PT Pertamina will merge the operations of its refinery, shipping and retail units to improve efficiency in its core business, CEO Simon Aloysius Mantiri said.
China's teapot refiners face fresh test from crackdown on tax evasion
Refiners are required to pay consumption taxes both when they import feedstock such as fuel oil and also on the refined products they produce, but evasion is widespread.
Southeast Asia set to export surplus biofuels to Europe, Petronas executive says
Southeast Asia is positioned to export biofuels to other markets such as Europe as production capacity exceeds demand in the region, a senior executive with Malaysian state oil and gas company Petronas said.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
- U.S. liquid fuels groups announce progress on E15, small refinery exemption reform 12/5
- Chinese refiners buy oil from storage, raise output with fresh import quota 12/5
- U.S. okays transactions with Lukoil gas stations outside Russia through late April 12/5
