Economics
Finland's Neste misses first-quarter earnings estimates, warns of market volatility
Finland's Neste on Friday posted weaker than expected first-quarter operating earnings and said forecasting both biofuels and oil sales margins will continue to be difficult owing to market volatility.
Japan's Cosmo to keep current refining capacity at least until 2030
Cosmo Energy Holdings Co Ltd plans to keep the current refining capacity at least until 2030 despite an expected fall in gasoline demand in Japan due to aging population and higher sales of electric vehicles.
Jet2 invests in sustainable fuel plant as airlines seek to meet 2030 targets
Britain's Jet2 said it has invested in a sustainable aviation fuel production plant in northern England, as airlines jostle to secure supplies of the green fuel ahead of 2030 targets.
W.R. Grace announces PP plant startups and license awards in China
W.R. Grace & Co announced the start-up of a 500,000-tpy PP reactor line by PetroChina GuangDong PetroChemical Company, the world’s second-largest petroleum company.
Maire’s Nextchem acquires control of Catc, an innovative plastic chemical recycling technology
Maire Tecnimont S.p.A. announces that its subsidiary NextChem, within the Sustainable Technology Solutions business unit, has acquired a 51% stake in MyRemono S.r.l.
Asahi Kasei and Microwave Chemical demonstrates project for chemical recycling of polyamide 66 using microwave-based tech
Asahi Kasei and Microwave Chemical launched a joint demonstration project in April 2023 with the objective of commercializing a chemical recycling process for polyamide 66 using microwave technology.
EU agrees binding green fuel targets for aviation
The European Union has agreed a deal to set binding targets for airlines in Europe to increase their use of sustainable aviation fuels, in an attempt to kickstart a market for green fuels and start curbing the aviation sector's carbon footprint.
Solvay to supply technology license for hydrogen peroxide mega-plant in China
Solvay has signed a license agreement with Guangxi Chlor-Alkali Chemical which will enable the Chinese partner to build and operate a hydrogen peroxide mega-plant at Qinzhou designed to support its 300 kilotons propylene oxide production and other units on site.
BioBTX and Agilyx announce collaboration for the production of circular aromatic chemicals
BioBTX B.V. and Agilyx ASA have entered into a strategic collaboration to explore the scale-up of BioBTX technology at a commercial demonstration plant for the production of renewable aromatic chemicals.
Lummus and Citroniq sign letter of intent for green polypropylene projects
Lummus Technology and Citroniq Chemicals announced that the two companies have signed a letter of intent for the development of Citroniq's green polypropylene projects in North America.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
