Europe
Portugal's environment agency greenlights Galp biodiesel, biojet plant
Portugal's environment regulator said it had approved a project by Portuguese oil company Galp to launch an industrial-scale plant to produce biodiesel and biojet fuel using cooking oils at its Sines refinery.
ADNOC statement on potential Borouge-Borealis merger
Abu Dhabi National Oil Company P.J.S.C. is excited to confirm that, following initial exploratory discussions, it has entered into formal negotiations with OMV AG, about the potential creation of a new combined petrochemicals holding entity, through the proposed merger of their respective existing shareholdings in Borouge plc and Borealis AG.
Turkey increases fuel tax as it bolsters stretched budget
Turkey raised tax on petrol to help to fund a $42.2-B increase to its 2023 budget after February's earthquakes and the May presidential election sent spending soaring.
Oil supply disruptions boost prices
A series of oil supply disruptions across the globe has helped push Brent crude prices above $81 a barrel for the first time since April.
Russia sets plans for oil export cuts in August
Russian oil exports from western ports are set to fall by some 100,000-200,000 bpd next month from July levels.
Russia's Novak: companies will decide if they cut oil exports or output
Russian Deputy Prime Minister Alexander Novak said that individual companies would decide whether to cut oil production or exports in August but Russia's task was to reduce supplies to world markets.
Equinor's Mongstad refinery reduces output after lightning strike
Equinor has evacuated some staff and reduced output at its Mongstad oil refinery on Norway's west coast after a lightning strike near the plant disrupted power supplies, it said.
Saudi Arabia imports record Russian fuel oil in June as trade grows
Saudi Arabia imported record volumes of discounted Russian fuel oil in June, a near 10-fold annual increase to meet summer power generation demand and maintain crude exports despite OPEC+ production cuts, according to traders, analysts and Kpler data.
IEA trims 2023 oil demand forecast on economic headwinds
Oil demand is set to hit a record high this year but economic headwinds and interest rate hikes mean the increase will be slightly less than anticipated, the International Energy Agency said.
Stamicarbon secured a €100-MM fertilizer project in Africa, including licensing and proprietary equipment
MAIRE S.p.A. announces that its subsidiary NextChem Holding, through Stamicarbon has been awarded licensing and proprietary equipment contracts related to an ammonia and urea complex for an overall value of approximately €100 MM, making it the largest award to Stamicarbon up to date.
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- Essar launches hydrogen power plant at Stanlow refinery (U.K.) 7/16
- Trelleborg partners with Airbus on hydrogen-powered air travel 7/16
- Neste, Mitsubishi Corporation agree on strategic partnership to develop supply chains for renewable chemicals and plastics 7/16
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