Economics
BASF to divest shares in its two JVs in Korla, China
As part of BASF’s global strategy for 1,4-butanediol (BDO), BASF has assessed the market environment and product carbon footprints of BDO and its downstream products from different production sites worldwide.
Ukrainian drones attack two oil refineries in southern Russia
Ukrainian drones attacked two oil refineries in southern Russia's Krasnodar region, causing a large fire at the Ilsky refinery during operations conducted by the SBU security service.
LLumin and eschbach partner for integrated team communications in enterprise asset management and plant maintenance
LLumin and eschbach announce their partnership to deliver the first rules-based, action-triggering, bi-directional communicating CMMS solution that seamlessly integrates with Shiftconnector, a comprehensive plant process management solutions for process manufacturers.
Louisiana (U.S.) Governor Jeff Landry announces bond allocation for Chevron’s Geismar renewable diesel plant
Governor Jeff Landry announced a $100 MM bond allocation for the expansion project at Chevron’s Geismar Renewable Diesel Plant at the Louisiana Mid-Continent Oil and Gas Association’s annual conference.
Finland's Neste shares plummet on downbeat biofuel sales margin outlook
Shares of Finland's Neste plummeted after the biofuels producer and oil refiner posted fourth-quarter operating profit below expectations and forecast a lower 2024 renewable products sales margin than last year's.
Singapore middle distillates stocks dip but remain above 7 MM bbls
Singapore's middle distillates stockpiles slipped slightly week-on-week as net exports of both diesel/gasoil and jet fuel/gasoil posted robust gains.
Czechs close to buying Shell stake in MiRO refinery
Czech oil pipeline operator MERO is in the final stages of talks to buy Shell Deutschland's 32.5% stake in the Mineraloelraffinerie Oberrhein refinery in Karlsruhe.
Japan's Cosmo expects around 90% refinery run rate in 2024-25
Japanese oil company Cosmo Energy Holdings expects its refinery run rate to hover around 90% in the business year starting in April as it plans maintenance shutdowns at its Chiba and Yokkaichi sites.
U.S. crude stocks rise, gasoline and distillate inventories fall
U.S. crude stocks rose as oil refiners took in less oil, following extreme cold weather that knocked out utilization last month, the Energy Information Administration reports.
Marine biofuel premiums soften at top bunker hub Singapore
Spot premiums of marine biofuel fell at world's largest bunker hub Singapore in early 2024, several market sources said, weighed by lukewarm demand, lower biofuel feedstock costs and a stronger underlying benchmark for residual fuel oil.
- SIBUR develops new polyethylene grade for FMCG packaging 8/13
- L&T Energy GreenTech partners with Japan’s ITOCHU for 300,000-tpy green ammonia project 8/13
- VINCI wins major contract for innovative biofuels plant in Spain 8/13
- Orlen Unipetrol to shut ethylene unit at Litvinov plant for several days 8/13
- Dangote Refinery cuts fuel price before planned sales to local Nigerian market 8/13
- Chevron Phillips Chemical completes low-viscosity PAO expansion in Belgium 8/12
