Economics

NOVA Chemicals sets bold ESG aspirations to lead the plastics circular economy

NOVA Chemicals Corporation announced sector-leading ESG ambitions to drive the circular economy for plastics, in line with its vision to become the leading sustainable polyethylene producer in North America.

Clean Planet Energy award Wood advanced plastic recycling projects across the US and UK

Wood, the global consulting and engineering company, has been awarded a contract for FEED and EPCm services by Clean Planet Energy.

Italy makes biofuel demand as EU attempts to unblock combustion engine phase-out

Italy has warned the European Commission that it will only support a solution to unblock the EU's planned phase-out of combustion engine cars by 2035 if it allows the sale of cars running on biofuels to continue after that date.

U.S. refiners shift focus to distillates amid energy transition

As U.S. refiners rejigger operations to reflect declining domestic motor fuels demand in the next decade, they will seek to maximize diesel and biofuels production for exports.

Trafigura, Vitol might step up trade in Russian oil

Global energy traders Trafigura and Vitol still help to export limited supplies of Russian refined products within the rules of international sanctions, but they are considering whether to resume more trade in Russia's oil

CF Industries to buy Incitec Pivot's U.S. ammonia plant in $1.68 B deal

CF Industries Holdings, the world's top ammonia producer, will buy the U.S. manufacturing facility of Australia's Incitec Pivot Ltd in a $1.68 B deal, the companies said on Monday.

Technip Energies commences study for Texas green fuels export complex

Technip Energies has been selected by Texas Green Fuels (TGF) to commence pre-FEED (Front-End Engineering and Design) for the TGF Galveston Bay clean fuels export project.

Mexican state seeks to punish Pemex for emissions from refinery

Mexico's northern state Nuevo Leon warned that it would seek penalties for state oil company Pemex after a dramatic increase in visible emissions from its Cadereyta refinery.

China still adding to crude inventories even as oil refining jumps

China still added more crude oil to inventories in the first two months of the year, despite lower imports and higher refinery processing rates.

European diesel tightens, crude weakens as French refinery outages linger

European diesel markets are flashing warnings of tightening supply while crude oil markets are weakening after nearly two weeks of disruptions at French refineries due to strike action