Economics
Private refiners tap India's drivers as export markets tighten
India's two major private-sector refiners, which have long prioritized exports, are turning to local sales, grabbing share in the country's fast-growing $150-B fuel retail market as weaker global demand squeezes profit margins offshore.
U.S. Senate Republicans propose eliminating fuel economy fines for automakers
U.S. Senate Republicans on Thursday proposed eliminating fines for failures to meet Corporate Average Fuel Economy rules as part of a wide-ranging tax bill - the latest move aimed at making it easier for automakers to build gas-powered vehicles.
LanzaJet, ATOBA Energy sign MoU to expand access to SAF market
LanzaJet and ATOBA Energy have signed a memorandum of understanding (MoU) to collaborate on accelerating sustainable aviation fuel (SAF) deployment and creating new commercial models for the market.
EIA: U.S. crude stockpiles fall, fuel builds as refiners hike output
U.S. crude oil stockpiles fell last week as oil refiners ramped up production with the start of the summer driving season, while fuel inventories rose amid weaker demand, data from the U.S. Energy Information Administration (EIA) showed on Wednesday.
Marubeni signs a long-term offtake agreement for green ammonia produced in Inner Mongolia, China
Marubeni has signed a long-term offtake agreement with global green technology company Envision Energy Co., Ltd. for ammonia produced from renewable energy in Inner Mongolia, China.
Braskem to commercially implement Ardent’s Olefin Separation technology
Braskem and Ardent Process Technologies announced the successful completion of their joint development program for an innovative olefin-paraffin separation technology, marking a significant advancement in polyolefin production efficiency.
Global oil refiners see short-term boost from higher margins
Refiners across the globe are reaping unexpected profits from producing key fuels in recent weeks, offering an ailing sector respite before an anticipated weakening later this year, as plant closures have tightened fuel supply needed to meet peak summer demand.
Trump administration (U.S.) axes $3.7-B in green energy projects
The U.S. has axed awards to 24 green energy projects issued during U.S. President Joe Biden's administration that totaled more than $3.7 billion, the Energy Department said. These include projects from ExxonMobil, Heidelberg Materials and Eastman Chemical
European chemical industry pessimistic for 2025, recovery not until 2026 says new report
After a sobering business year in 2024 ("lost year"), the leading European chemical companies are still not forecasting any significant recovery for 2025. A cautiously positive development is only expected in the second half of the year - provided that a global trade war or a lack of economic recovery do not thwart the forecast.
Lotte Chemical Titan signs contract to buy naphtha from Aramco Trading Singapore
Malaysia's Lotte Chemical Titan has signed a three-year contract to buy naphtha from Aramco Trading Singapore starting in July 2025 and running to June 2028, the company said.
- 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
