Economics
Gunvor plans to halt oil terminal activities at Europoort refinery
Global commodities trading house Gunvor intends to mothball the terminal activities at its Europoort oil refinery in Rotterdam, Netherlands
EU to set up Critical Chemical Alliance to secure supply chains
The European Commission will work with EU member states and the chemicals sector to support production of chemicals identified as critical for Europe's industrial supply chains, the EU executive said.
Refinery closures may lead to higher gasoline prices on the U.S. West Coast
California is set to lose 17% of its oil refinery capacity over the next 12 months because of two planned refinery closures. If realized, the closure of the facilities is likely to contribute to increases in fuel price volatility on the U.S. West Coast.
bp sells 300 Dutch petrol stations to Catom
bp has agreed to sell its 300 Dutch petrol stations to Dutch fuel distribution and trading company Catom as part of its plan to divest $20 B worth of assets by 2027, bp said on Wednesday, without giving a deal value.
Brazil's Petrobras to invest $4.8 B in integration between Reduc refinery and Boaventura complex
Brazilian state-run oil firm Petrobras will invest 26 billion reais ($4.8 billion) in an integration between the Reduc refinery and the Boaventura energy complex in Rio de Janeiro state.
Brazil's energy minister hints at possible fuel price cuts
Brazil's Mines and Energy Minister Alexandre Silveira suggested that gasoline and diesel prices could soon be lowered in the country, where state-run oil giant Petrobras controls most of the refining capacity.
Angola hikes diesel price again to bolster public finances
Angola hiked the diesel price by one-third from Friday as part of the government's drive to curb costly subsidies and shore up public finances.
Diesel East-West price spread nears 1.5-yr high amid supply concerns West, stable East
The front-month diesel East-West price spread hit its widest in 1.5 yr of slightly more than $73 per tonne (t) at Asia market close, LSEG data showed on Monday, underscoring supply concerns in the West and steady Asian fundamentals.
U.S. Gulf Coast fuel oil imports at record low as refiners opt for heavier crude
Fuel oil imports into the refinery hub on the U.S. Gulf Coast hit a record low in June as tighter global supplies prompted refiners to run more heavy, sour crude.
Shell flags profit hit from weakness in gas trading and chemicals business
Shell expects quarterly earnings to be hit by weaker trading in its integrated gas division and losses at its chemicals and products operations, it said on Monday ahead of second-quarter results due on July 31.
- Envision Energy powers world's first green marine ammonia bunkering 7/25
- New catalyst breakthrough could make clean ammonia easier to produce 7/25
- U.S. Gulf refiners seek Middle East, S. American oil to offset Venezuela, Mexico losses 7/25
- CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions 7/25
- PetroChina makes FID for new northeast refinery complex 7/25
- Valero Energy beats Q2 profit estimates as refining margins improve 7/24
