Economics
Consortium to purchase CB&I from McDermott
A consortium led by Mason Capital Management announced that it has entered into a definitive agreement to acquire the CB&I storage solutions business from McDermott International, Ltd.
BASF, Evonik agree on deliveries of biomass-based ammonia with reduced carbon footprint
BASF and Evonik have agreed on the first delivery of BASF’s ammonia BMBcert grade. Thereby, both chemical companies demonstrate their commitment to offer products with a reduced product carbon footprint. With its ammonia BMBcert, BASF delivers to Evonik a product whose PCF is at least 65% lower than the standard product.
Shell's Q3 refining margins drop sharply
Shell's refining profit margins dropped by nearly 30% in the third quarter from the previous three months as global demand sagged, while oil product trading earnings also weakened.
Iraq's Kerbala refinery non-operational due to maintenance
Iraq's Kerbala refinery is under extensive maintenance and has been non-operational since Sept. 25, knocking out 150,000 bpd of processing capacity.
Eni may sell more stakes in renewable, biofuel units retaining majority
Italy's Eni will decide about additional stake sales in its renewable and biofuel units, its CEO said, keeping in mind that it wants to list them on the stock market and retain the majority of their capital.
Trammo, Elengy sign MoU for low-carbon ammonia import terminal in France
The project involves the redevelopment of part of Elengy’s Fos Tonkin LNG terminal site into a low-carbon ammonia import terminal, including the construction of a 30,000-m3 ammonia storage tank. The new terminal will be capable of receiving 200,000 metric tpy of low-carbon ammonia.
GAIL, AM Green sign MoU for jointly developing renewable energy and green chemical projects
GAIL (India) Limited and AM Green B.V. signed a Memorandum of Understanding (MoU) to focus on the long-term supply of carbon dioxide for eMethanol production and the exploration of hybrid renewable energy project across India.
Neste strengthens chemical recycling logistics infrastructure in Europe with Tepsa Netherlands
Neste enhances its chemical recycling capabilities by collaborating with Tepsa Netherlands on the storage and handling of liquefied waste plastic in Rotterdam, the Netherlands.
U.S. distillate fuel oil demand will increase in the fall due to agricultural harvest
The U.S. Energy Information Administration (EIA) expects distillate fuel oil consumption to increase in the fall as diesel-powered agricultural equipment is used to harvest and transport crops.
ARA gasoline exports to West Africa hit multi-year lows in September
A Belgian law restricting exports of low-quality fuels and financial constraints among Nigeria's importers are squeezing sales of gasoline from Northwest Europe to West Africa, leaving buyers to explore other options until Nigeria's Dangote refinery is able to meet demand.
- Clean Hydrogen Works awards McDermott FEED contract for Ascension Clean Energy (ACE) project 11/21
- Day 2 of WGLC 2024 begins with Chevron speaker’s inspiring, relatable message 11/21
- MOL Group, KazMunayGas partner on exploring petrochemical production 11/21
- WGLC: Innovating AI adoption 11/21
- Solvay uses waste wood to power soda ash and bicarbonate plant in Germany 11/21
- Syensqo expands U.S. production capacity for advanced polymers 11/21
