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Economics

Red Sea, Russian refinery attacks tighten Asia naphtha supplies

Prices of naphtha, a key petrochemical feedstock, have jumped in Asia as drone attacks on Russian refineries and the Red Sea shipping crisis have disrupted European shipment.

Russia's Ilsky refinery plans to restart damaged unit this week

Russia's export-oriented Ilsky oil refinery plans to resume operations at its damaged primary processing unit this week.

Grace licenses second UNIPOL polypropylene process technology reactor to China Coal Shaanxi Energy & Chemical Group Co., Ltd.

W.R. Grace & Co. announced that China Coal Shaanxi Energy & Chemical Group Co., Ltd. has expanded its license for Grace’s UNIPOL PP process technology, doubling its polypropylene production capacity from 300 to 600 kpy.

Dow announces completion of inaugural green bond offering

The Dow Chemical Company, a wholly owned subsidiary of Dow, announced today the closing of its green bond offering of $600 million aggregate principal amount of 5.150% notes due 2034 and $650 million aggregate principal amount of 5.600% notes due 2054.

AFPM launches seven-figure issue campaign spotlighting gas car ban policies across battleground states

The American Fuel & Petrochemical Manufacturers is launching a major seven-figure issue campaign across seven critical states - Pennsylvania, Wisconsin, Michigan, Nevada, Arizona, Ohio and Montana—and the Beltway, all aimed at informing Americans about the Biden administration’s efforts to ban new gas, diesel and flex fuel vehicles from the U.S. market.

Smyril Line has signed contracts for two methanol powered cargo ships

Smyril Line is pleased to announce that a contract has been made with the CIMC Raffles shipyard in China to build two new e-methanol powered cargo ships the company.

LanzaJet and Jet Zero partner for Australia's first ethanol-to-SAF plant

The agreement will progress the development of Project Ulysses, a North Queensland SAF project using LanzaJet’s alcohol-to-Jet technology, that converts the bioethanol into SAF and renewable diesel.

Germany's Habeck: Poland committed to crude supply in case of Schwedt nationalization

German Economy Minister Robert Habeck said in Warsaw that Poland has given reassurances that it will continue to provide the Schwedt refinery with crude oil in the event that Germany nationalizes Rosneft's German activities.

Mexico orders expropriation of Air Liquide plant at Pemex oil refinery

Mexico's government has ordered the expropriation of a hydrogen plant at a Pemex oil refinery that was sold to French company Air Liquide during the previous administration, after officials ordered a temporary occupation of the facility last December.

Asia's gasoil east-west price spread at widest discount in over a year

Asia's gasoil front-month east-west price spread hit its widest discount in more than a year of almost $88 per metric ton on tightness in prompt Europe supply and high freight costs.