Europe

Diesel rally sparked by Western sanctions on Russia will be short-lived

A new wave of Western sanctions on Russia’s oil industry has roiled the diesel market, sending refining margins soaring, but global supplies are unlikely to be severely disrupted for long.

Portugal's chemicals sector needs to spend $35 B on decarbonization, industry group says

The sector currently invests an average of around €1 B per year in growth, manufacturing processes, and energy efficiency, but only a portion is targeted at decarbonization.

Forestal selects Topsoe’s SOEC technology for e-methanol production

Finland's Wartsila believes in shipping decarbonization despite IMO setback

The Finnish engineering group, one of the world's biggest ship engine makers, has invested in emissions reduction technologies for ships and power plants. It expects higher demand for those under the International Maritime Organization's climate plan.

Slovak refiner Slovnaft says Croatia's Janaf cuts supply of non-Russian crude

Slovnaft, part of Hungary's oil and gas group MOL, mostly processes Russian oil and has an exemption to EU sanctions that allows it to export products derived from those deliveries.

Bulgaria prepares measures for its Lukoil-owned refinery after U.S. sanctions

Schneider Electric’s technology blueprint paves way for global e-methanol fuel expansion

Powered by renewable electricity from the adjacent 304-MW Kassø Solar Park, the largest in the Nordics, the facility captures biogenic CO₂ from nearby sources to produce up to 42,000 metric tpy of e-methanol.

Berlin seeks to shield Rosneft's German arm from U.S. sanctions

Rosneft's German business is controlled by German authorities but Russian-owned. It is a key supplier, routing and refining oil to petrol pumps and some airports in Europe's biggest economy.

Opinion: Trump’s Russian oil sanctions gambit will test his tolerance for pain

The U.S. designation of the two Russian companies, which follows Britain's decision last week to hit Rosneft and Lukoil with sanctions, cuts them off from the dollar-based financial system.

EU to list two Chinese oil refineries, one trader in new Russia sanctions

The EU has toughened its stance on Beijing as diplomatic efforts have stalled. The EU, Ukraine and its allies view China as a central node in Moscow's sanctions circumvention network.