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Economics

SIAD Americas LLC established by SIAD Macchine Impianti S.p.A.

SIAD Macchine Impianti S.p.A., a wholly owned subsidiary of SIAD S.p.A., has announced the formation of SIAD Americas LLC which will be headquartered in The Woodlands north of Houston, Texas (U.S.).

Wartsila to deliver its first ammonia ship engine in early 2025

Ship engine manufacturer Wartsila expects to deliver its first ammonia-fueled engine on a new vessel in early 2025, with more widespread sales expected in the 2030s.

Haldia Petchem plans $10-B oil-to-chemical project in southern India

The Chatterjee Group in talks with local and global companies to partner with its majority-owned petrochemical firm Haldia Petrochemicals Ltd to build a more than $10-B project in southern India.

Phillips 66 on track to achieve full renewable diesel production at Rodeo facility

Independent U.S. oil refiner Phillips 66 said it is in the final stages of converting an oil refinery in California into a renewable fuel plant with a capacity of 50,000 bpd by the end of the second quarter of 2024.

Parkland's Burnaby Refinery safely returned to normal operations

Parkland Corporation announced that the Burnaby refinery safely returned to normal operations on March 29, 2024, following an unplanned shutdown originating from extreme cold weather on January 12, 2024.

Nigeria's Dangote refinery supplies petroleum products to local market

Nigeria's Dangote oil refinery started supplying petroleum products to the local market, a company executive and fuel marketing associations said, a major step in the country's quest for energy independence.

Petroperu announces stoppage at unit at Talara refinery

Peru's state oil firm Petroperu announced the stoppage of a key unit at its recently modernized Talara refinery through the end of June, due to power supply failures and operational problems which had been ongoing since early February.

U.S. petroleum product exports set another record high in 2023

Petroleum product exports from the U.S. averaged a record 6.1 MM bpdy in 2023, an 2.5% increase from 2022, according to EIA's Petroleum Supply Monthly.

Borouge commits to net-zero in its operations by 2045

Borouge, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, has committed to achieving net-zero across its scope 1 and 2 carbon emissions by 2045. 

Evonik advances sustainable production with green electricity for specialty acrylates

Evonik’s Coating & Adhesive Resins Business Line has achieved a significant reduction in carbon emissions by powering the production of DEGACRYL specialty acrylates in Darmstadt with electricity from renewable sources.