Economics

Emerson wins contract to automate $8.5-B Golden Triangle Polymers facility

Emerson will provide automation technologies, software and analytics from its Plantweb™ digital ecosystem for the Golden Triangle Polymers Project, a world-scale integrated polymers facility on the Texas Gulf Coast.

Citgo Petroleum posts record $2.8 B profit for 2022

Refiner Citgo Petroleum Corp reported record net profit of $2.8 billion for 2022 on strong motor fuel demand, high margins and refining output that exceeded its plants' listed capacity.

Indian fuel demand in February was the highest in 24 yr

India's fuel demand hit its highest level in at least 24 years in February, with industrial activity in Asia's third biggest economy boosted by cheap Russian oil.

Strategic Biofuels to bolster U.S. green fuels project through U.S. DOE loan guarantee

Strategic Biofuels announced today that it has been invited by the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) to submit a Part II application for a proposed $1.6 B loan guarantee under the Title XVII Innovative Clean Energy Loan Guarantee Program.

New Petrobras CEO discussed the future of Brazilian oil/gas and fuels industry with other sector partners

Petrobras’ CEO, Jean Paul Prates, took advantage of the presence of the leaders of the largest energy companies on the planet at CERAWeek, in Houston, Texas (USA), to promote the importance of joint actions by the industry both in renewable energy projects and in initiatives for better use of oil and gas reserves.

Indonesia's biodiesel policy, dry weather to keep palm oil prices elevated

Indonesia's biodiesel policy and the likely emergence of the El Nino weather pattern could further strain global inventories of the most used cooking oil, lifting prices later this year, leading industry officials and analysts said.

Germany's Schwedt refinery losing out in race from Russian oil

Slashed output at Germany’s Schwedt oil refinery demonstrates the difficulty Berlin faces in turning away from Russian oil, despite plans to work with Poland to find alternative supply.

Al Khalifa maps out the future of Bahrain's energy vision

His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty’s Representative for Humanitarian Works and Youth Affairs, Chairman of The Oil and Gas Holding Company B.S.C. addressed the world’s energy leaders in a keynote speech at CERAWeek 2023 by S&P Global where he spoke about the Kingdom of Bahrain’s energy transition and the future of global energy.

AWS unveils startups selected for the Clean Energy Accelerator 3.0 program

Amazon Web Services (AWS) announced the startups selected for the Clean Energy Accelerator 3.0. The program is designed to facilitate collaborations with mature startups developing breakthrough clean energy technologies.

EU delays ICE ban phaseout after German pushback

European Union countries have delayed a planned vote next week on the bloc's landmark law to end sales of new CO2-emitting cars in 2035 after Germany questioned its support for the rules.