Economics
Global glut of oil products threatens crude recovery
Gasoline and diesel stockpiles have swollen to record highs across the globe, leaving refiners and traders few places to dump excess supplies and threatening large-scale production cuts that could derail an oil price recovery.
ARC study names Implico a market leader of terminal automation systems in EMEA
International software and consulting company Implico remains a market leader of terminal automation systems in Europe, the Middle East and Africa (EMEA) region, according to the most recent market study conducted by ARC Advisory Group.
BP seeks buyers for its half of China petrochemical venture
British oil major BP is seeking buyers for its 50% stake in Chinese petrochemicals joint venture SECCO, its largest investment in China.
Idemitsu family issues fresh call for management to end Showa Shell merger
The founding family of Japan's Idemitsu Kosan Co. Ltd. has made a fresh call on management to give up its plan to merge with rival oil refiner Showa Shell Sekiyu KK.
Eni reaches deal with Exxon on Mozambique gas project
Italian oil firm Eni has wrapped up long-running talks to sell a multi-billion dollar stake in its planned Mozambique LNG development to Exxon Mobil.
China fuel exports hit record in July, crude imports up 1.2%
China's fuel exports rose to a record in July as easing demand growth and a surplus in refined oil products pushed refiners to increase shipments to overseas buyers.
Essar Oil to upgrade Vadinar refinery
Essar Oil Ltd.’s 20 MMtpy Vadinar refinery is looking at earning an additional $1.50/bbl crude on its Gross Refinery Margin.
Trafigura extends credit to China teapots to boost crude sales
Trafigura has extended the credit period for two independent Chinese refiners to buy crude, marking a more aggressive push by the global commodity trader to feed the growing appetite of so-called "teapot" refiners to import oil.
Idemitsu, Showa Shell chiefs met to confirm merger plan
Idemitsu is considering acquiring a smaller stake in Showa Shell than planned to counter efforts by its founding family to block a merger of the two oil refiners.
Braskem to start talks with US authorities over corruption accusations
Braskem SA will start talks with US authorities over accusations of corruption linked to a massive graft investigation in Brazil.
- thyssenkrupp Uhde selected by Dangote Fertilizer Ltd. to license four urea granulation units in Nigeria 11/21
- China's first coal-to-chemicals project with green hydrogen starts commercial operations 11/20
- Norsk e-Fuel and Braskem partner to turn captured carbon into long-lasting products 11/20
- Nigeria's Dangote refinery delays CDU maintenance to end of January 2026 11/20
- Tecnimont attends ground-breaking ceremony of Tengiz Gas separation Complex in Kazakhstan 11/20
- 42% of U.S. energy/critical infrastructure providers exposed to weaponized AI and email attacks 11/20
