Economics
ABB supports innovative bioplastics project as main electrical contractor for Avantium and Worley
Avantium is building a new plant that will support the transition to bio-based plastics to replace ones that rely on fossil-based raw materials.
Petrobras-Mubadala partnership may open door to refinery deal and biofuel partnership
Brazilian state-run oil firm Petrobras remains eager to repurchase a refinery from Abu Dhabi state investor Mubadala despite antitrust barriers, and a new biofuels partnership could open the door to future talks.
APPEC-OMV starts up biofuels plant at Schwechat refinery
Austria's OMV started up a new biofuels plant at its Schwechat refinery two weeks ago.
Bunker fuel market to convert to LNG in next 10 years
The global bunker fuel market is expected to convert substantially to LNG over the next 10 years.
Russia extends oil exports cuts of 300,000 bpd until year-end
Russia will extend its voluntary reduction in oil exports by 300,000 bpd until the end of the year "to maintain stability and balance" on oil markets.
Saudi Arabia extends voluntary oil output cut of 1 MM bpd to end in 2023
Saudi Arabia will extend its voluntary oil output cut of 1 million bpd for another three months until the end of December 2023.
India cuts windfall tax on petroleum crude
The Indian government will cut the windfall tax on petroleum crude to 6,700 rupees ($81.03) per metric ton from 7,100 rupees starting on Saturday.
Russia's seaborne diesel exports showed a rise in August
Russia's seaborne diesel and gasoil exports in August rose by 2% from a month earlier to about 3.85 million metric tons on healthy fuel production, data from traders and LSEG showed.
EU shipping services still taking about half of Russian oil output
European Union shipping services are still handling about half of Russia's crude oil output.
Low U.S. heating oil stockpiles could cause winter sticker shocks
Americans could face a sticker shock with their heating bills this winter, especially if it is a chilly one, due to unusually low U.S. stockpiles of distillate fuels following OPEC+ crude supply cuts and higher demand from Europe.
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
