Economics
Venezuela's president appoints new head for state petrochemical company Pequiven
Venezuela's President Nicolas Maduro appointed Ninoska La Concha as new head of state petrochemical company Pequiven, replacing oil minister Pedro Tellechea, who since March had held three key positions supervising the country's energy industry.
Brazil's ethanol output decreased in favor of sugar production
Mills in Brazil are allocating a near record amount of sugarcane to make sugar, and less so to produce ethanol, as the prices for the sweetener are higher.
EU to seek COP28 deal on phasing out fossil fuels
European Union countries are preparing to push for a global deal on phasing out fossil fuels at the United Nations COP28 climate summit which begins in November, a draft of the EU's negotiating position showed.
China adds 15 MMt to 2023 fuel export quotas in third batch
China has issued 15 MMt of oil products export quotas to companies in its third batch for 2023, according to three trading sources and two domestic consultancies.
Oil driven higher by tight supply expectations
Oil prices jumped by more than 1% and were on track to snap a two-week losing streak, buoyed by expectations of tightening supplies.
U.S. crude stocks to fall further, end below year-ago levels
U.S. crude oil stocks have fallen to their lowest level this year and likely will shrink further, analysts said, as record demand, producer supply cuts, weaker futures and rising storage costs all point to increasing drawdowns.
Colombia's Ecopetrol to invest up to $1.3 B in cleaner, better fuels
Colombia's majority state-owned oil company Ecopetrol will invest between $1.2 B and $1.3 B over the next seven years in cleaner and better fuels.
China's refined fuel demand in H2 2023 to rise 10% year-to-year
China's apparent refined fuel demand is expected to increase by 10% year-on-year in the second half of 2023.
Singapore's middle distillates stocks fall 7.5% on robust jet fuel outflow
Middle distillates stocks held at key storage hub Singapore slipped by 7.5% week on week as robust jet fuel outflows outweighed a surge in gasoil total imports from regional sellers.
Russia faces domestic fuel crunch, braces for more shortages
Russia, one of the world's biggest oil producers, has faced shortages of fuel crucial for gathering the harvest in some parts of its southern breadbasket and the situation may get worse in coming months.
- INEOS to invest €250 MM in Lavera cracker modernization project in France 11/19
- BASF adds ISCC EU certification to certified biomass-balanced methanol portfolio 11/19
- Siam Cement to invest an additional $500 MM in Long Son chemical complex 11/19
- LanzaJet produces first jet fuel from ethanol at a commercial scale 11/19
- Ducor Petrochemicals, Blue Circle Olefins partner to create a fully circular supply chain for polypropylene 11/18
- World's first: Air Liquide’s innovative technology converts ammonia into hydrogen at industrial scale 11/18
