Central America
OPEC sticks to 2024 oil demand view, sees strong travel season
OPEC is sticking to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months.
EIA: Global oil market will be in supply deficit next year
Global oil demand will outpace supply next year, the U.S. Energy Information Administration (EIA) said on Tuesday, reversing a prior forecast for a surplus.
Panama Canal traffic to increase as drought conditions ease
The Panama Canal Authority (APC) has announced that it will increase the number of daily booking slots for vessels transiting the Panama Canal to 35 in August, easing rules that restricted shipping traffic through the narrow waterway since last year.
New DNV survey highlights oil and gas sector paradox
The latest DNV survey, “The Paradox of Petroleum—How the oil and gas sector is transforming through uncertainty,” gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector.
Global Project Data
Spotlight on Asia
Red Sea ships attacks push 47% more crude oil, fuels, refined products around Africa
Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West are up 47% since attacks began on vessels using the shorter Red Sea route.
Goldman Sachs: Global LNG market to grow by 50% by 2029
Growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research.
Pemex is delivering only a fraction of feedstock to new Olmeca refinery
Mexican state energy company Pemex started sending 16,300 bpd of crude oil to its new Olmeca refinery this week, less than 5% of its total capacity, signaling another delay.
HIF Global secures nearly $165-MM in investments to develop eFuels
HIF Global announced a combined investment from existing shareholders and the Japanese energy company Idemitsu Kosan, securing $164 MM to fund its eFuels projects.
Ethylene downcycle puts nearly 25% of capacity at risk of closure
A series of unprecedented challenges to the global ethylene industry means that as much as 24% of global capacity is now under some threat of permanent closure according to new research by Wood Mackenzie.
- BASF launches the world’s first thermoplastic polyamide with high water permeability 9/9
- Worley awarded FEED contract for renewable diesel and aviation fuel project in Sweden 9/9
- U.S. tariffs worsen petrochemical sector challenges, executives warn 9/9
- Clariant to supply catalyst to SYPOX for world’s largest electric steam methane reformer 9/9
- Mitsubishi Chemical to adopt a "product traceability platform" to build a reliable chemical recycling supply chain 9/9
- Phillips 66 announces agreement to purchase remaining interest in WRB Refining LP for $1.4 B 9/9
