Europe
Naphtha markets brace for margin squeeze amid supply glut in 2024
Global naphtha markets will likely suffer from lower profit margins in 2024 as refining and petrochemical capacity expansions in China and the Middle East outpace plastics demand growth globally.
INEOS polymer used to create world’s first sustainable gas pipeline
INEOS produced bio-based high-density polyethylene has been used to create the world’s first fully sustainable gas pipeline. Installed by French gas utility network operator, GRDF, the pipeline only uses the low carbon footprint polymer.
Tecnimont awarded a FEED contract for a green ammonia plant in Norway
MAIRE announces that Tecnimont has been awarded a FEED contract by Fortescue, a global green technology, energy and metals company, for a green ammonia plant to be located in the Nordgulen fjord in Norway.
Neste and partners wrap up E-Fuel research project, highlighting advancements in electrofuel development
Renewable hydrogen produced by green electricity and carbon capture and utilization play an important role in combating climate change.
LYB enters into agreement to acquire 35% of Saudi Arabia-based NATPET; expands core PP business
LyondellBasell announced it entered into an agreement to acquire a 35% interest in Saudi Arabia–based National Petrochemical Industrial Company from Alujain Corporation for approximately $500 MM.
Shell to exit Nigeria's troubled onshore oil after nearly a century
Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 B.
Drawn by low prices, Chinese refiners hunt for oil to replenish stocks
Chinese refiners are actively booking crude oil cargoes for delivery in March and April to replenish stocks, locking-in relatively low prices and in anticipation of stronger demand in the second half of 2024.
Solvay expands operations across recycling facilities in Europe to enhance circularity in flue gas treatment
Solvay has announced capacity expansions at its Resolest and Solval units, specifically designed for recycling residues from the flue gas cleaning process using the market-leading SOLVAir solution.
Russia's NORSI refinery may halve high-octane gasoline output after outages
Lukoil's NORSI oil refinery in Nizhny Novgorod may halve high-octane gasoline output after an emergency stoppage at one of two plant's catalytic cracking unit.
Greek shipowner seeks U.S. government help with tanker seized by Iran
Empire Navigation Inc, the Greek shipowner of an oil tanker seized by Iran, said it sought any help from the U.S. government in regaining control of its vessel in a U.S. court filing.
- Shipping major and GCMD to pilot FAME-VLSFO marine biofuel bunker fuel in Singapore 5/9
- Diesel profit margins decline amid lower demand, more capacity 5/9
- World Energy and Boston Consulting Group sign agreement on SAF certificates 5/9
- Analysis: Chandra Asri purchase of Shell Singapore refinery brings scale, risk 5/9
- New $1.5-B natural gas pipeline to provide feedstock to Dow's petrochemicals plant and other industrial facilities 5/8
- Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC 5/8
