Europe

Global oil refining profits surge and may stay strong

The strength in margins contrasts with crude oil markets coming under pressure from an expected oversupply, and has defied expectations earlier this year that the rally could prove to be a short-term blip due to the impact of tariffs.

ExxonMobil to close Scottish chemicals plant in 2026 amid market uncertainty

European chemicals producers, the European Union's fourth-biggest exporting sector after machinery, automotive and pharmaceuticals, have come under pressure from soaring energy costs following Russia's invasion of Ukraine and aging infrastructure, deepening their reliance on imports of key feedstocks such as ethylene and propylene.

Chevron joins race to explore potential purchase of Lukoil assets, including refineries

Verso Energy awards FEED contract to Rely for the DEZiR eSAF project

Aduro Clean Technologies signs non‑binding LOI for Hydrochemolytic™ technology demonstration plant site in Europe

BASF, ExxonMobil join forces to advance low-emissions hydrogen through methane pyrolysis technology

The companies have signed a joint development agreement to co-develop methane pyrolysis technology, including plans to construct a demonstration plant aimed at commercial readiness.

Serbia has a week to resolve NIS refinery crisis, President Vucic says

Washington is seeking complete Russian divestment from NIS, which operates Serbia's only refinery, and on Saturday gave the company's owners three months to find a buyer.

Lukoil-Moldova grants free use of airport fuel terminal to government amid U.S. sanctions

The move aims to secure fuel supplies for stable airport operations as U.S. sanctions against the Russian-owned company take effect later this month.

Croatia rejects Russian vacuum gasoil cargo after U.S. sanctions

According to traders and LSEG shipping data, the Malta-flagged tanker Hope A loaded about 30,000 metric tons (t) of vacuum gasoil at Russia’s Black Sea port of Tuapse on October 22 and sailed toward Croatia.

Bulgaria wins UK sanctions reprieve on refinery, petrol stations

The UK last month announced sanctions on Russia's two biggest oil companies, Rosneft and Lukoil, and a week later the U.S. followed suit in a bid to squeeze the financing of Moscow’s war effort in Ukraine.