Economics

Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction

Brazilian state-run oil firm Petrobras has delivered liquefied petroleum gas auctioned off at high prices, even after President Luiz Inacio Lula da Silva said the government would annul it to protect consumers from fuel spikes.

India ends import tax on petrochemicals to help local industry

Taiwan's CPC brings naphtha cracker online a week early

U.S. naphtha exports surge to record high on Japanese, Venezuelan buying

Saudi Aramco and Sonatrach raise LPG prices for April by between 38% and 80%

Nigeria's Dangote refinery secures $2.5 B from Afreximbank

OCI Global completes sale of OCI Ammonia Holding to AGROFERT

Union workers ratify contract at ExxonMobil's Louisiana (U.S.) refining and chemical complex

OMV and XRG complete transactions to create Borouge International, boosting global chemicals leadership

China's smaller independent refiners to curb output on rising oil prices

The so-called teapot refiners had benefited in recent months from cheap stocks of Russian and Iranian crude, but temporary U.S. waivers allowing purchases of Russian and Iranian oil stranded at sea for 30 days have driven prices for those barrels sharply higher as buyers, especially Indian refiners, rush to secure supply.