Europe
OPEC starts working on oil supply cut exit strategy
LONDON/DUBAI (Reuters) — OPEC has started working on plans for an exit strategy from its deal to cut supplies with non-member producers, two OPEC sources said, a sign that an eventual winding down of the deal is coming onto producers' radar, at least in theory.
UK's Forties North Sea oil pipeline due to restart in early Jan
LONDON (Reuters) — Britain's Forties oil and gas pipeline, one of the biggest in the North Sea, should be repaired around Christmas, its operator Ineos said on Thursday, the earlier end of a timeframe the company gave to carry out the work.
BASF, SINOPEC expand NPG production capacity in China
LUDWIGSHAFEN, Germany and NANJING, China — BASF and SINOPEC will expand the production capacity of Neopentylglycol (NPG) at the state-of-the-art Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China.
Ineos presses ahead with crude pipeline repairs
LONDON (Reuters) — Ineos said repairs to Britain’s Forties crude pipeline were underway on Wednesday, after a crack was found that closed the pipeline on Dec. 11.
Rosneft does not rule out global oil output cuts extended beyond 2018
SOCHI, Russia (Reuters) — A global deal to cut oil production could be extended beyond 2018, Pavel Fedorov, first vice-president of Russia's largest oil producer Rosneft said on Monday, presenting the company's strategy through to 2022.
Unipetrol's largest minority shareholder to sell stake to PKN Orlen
PRAGUE (Reuters) — Czech downstream oil group Unipetrol's largest minority shareholder Paulinino Limited will sell its stake to majority owner PKN Orlen when it opens a voluntary tender offer next week, Paulinino said on Wednesday.
Oil rises on UK pipeline outage but US supply caps gains
LONDON (Reuters) — Oil edged up towards $64/bbl on Tuesday, helped by a North Sea pipeline outage, OPEC-led supply cuts and jitters about threats to Middle East supplies after a missile was fired by a Yemeni group at the Saudi capital.
Russia's Transneft halts domestic oil product pipeline after spill
MOSCOW (Reuters) — Russian pipeline monopoly Transneft on Monday said it had stopped pumping oil products such as diesel through one of its lines after discovering signs of an oil spill.
Steeper Energy, Silva Green Fuel to build advanced biofuel project
COPENHAGEN, Denmark — Steeper Energy, a Danish-Canadian clean-fuel company, is partnering with Silva Green Fuel, a Norwegian-Swedish JV, to construct a EUR 50.6 MM (DKK 377 MM) industrial scale demonstration plant at a former pulp mill located in Tofte, Norway leading to a future commercial scale project.
Oiltanking commissions new terminal in Mozambique
HAMBURG, Germany — Oiltanking GmbH is pleased to announce the commissioning of its new terminal in Matola, Mozambique. In parallel, Oiltanking will expand its investment in the ports of Matola and Beira by increasing its ownership share in Oiltanking Mozambique.
- Valero Energy Q4 profit beats estimates; shares surge 1/30
- Dow launches "Transform to Outperform" to raise the competitive industry benchmark for productivity and growth to enable improved returns 1/30
- Russian oil refineries' peak maintenance expected in January and September 1/30
- U.S. lifts some Venezuela sanctions to ease oil sales 1/30
- Keppel, Aster plan sustainable aviation fuel project in Singapore 1/30
- Boeing, Israel's Technion to develop sustainable aviation fuel, as sector grapples with 2050 goal 1/30
