Europe

Poland's Orlen's petchem project's capex continues to rise

Poland's Orlen's flagship petrochemicals project may see further losses due to problems in the planning and construction process, increasing total capex from $2.11 B to > $6.3 B.

bp abandons goal to cut oil output, resets strategy

bp has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence.

Russia considers diesel export ban for non-producers

Russian oil companies have held talks with the government on whether firms that do not produce diesel should be banned from exporting it because of concern the refiners may be losing subsidies.

Turkey, Brazil are main buyers of Russian seaborne diesel after EU embargo

Turkey and Brazil have been the main importers of Russian seaborne diesel and gasoil since the European Union banned the import of Russian oil products.

Nextchem signs agreement with KazMunayGaz for SAF project in Kazakhstan

NEXTCHEM and KazMunayGas-Aero have signed an agreement to collaborate on advancing energy transition initiatives, leveraging on NEXTCHEM’s proprietary technology portfolio and process engineering capabilities.

Russia's Tuapse oil refinery suspends processing due to low margins

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.

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.

Czechs seek partners to challenge EU's CO2 goals for car sector

The Czech Republic will seek European Union partners to help it contend with tougher EU carbon dioxide (CO2) emissions rules next year.

Exxon's deal with unions at Port Jerome refinery to allow job-cutting plan to move ahead

Energy major ExxonMobil can move ahead with a plan to cut jobs at its Port Jerome refinery in northern France after obtaining a majority agreement this week with unions.