Economics
Mitsubishi Chemical abandons 350,000-tpy MMA plant in Louisiana (U.S.)
Mitsubishi Chemical announced that it will not pursue a 350,000-tpy MMA Plant in Geismar, Louisiana" dated December 9, 2020, the Group had been considering the construction of a new Methyl methacrylate monomer plant in Geismar, Louisiana (U.S.), citing a failure to obtain long-term offtake contracts.
Asia's crude oil imports drop in 2024 as weak China weighs
Asia's crude oil imports dropped in 2024, the first annual decline in three years, led by weak demand from heavyweight China and other major buyers, with only India managing sparse growth.
U.S. biofuel producers ramped up in Oct. as profitability improved
U.S. renewable diesel and biodiesel producers ramped up operations in October to multi-month highs, helped by stronger margins for the biofuels, according to data compiled by advisory group AEGIS Hedging.
U.S. plans more sanctions on tankers carrying Russian oil
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude.
Brazil's Petrobras raises jet fuel prices by around 7% in key markets
Brazilian state-run oil firm Petrobras hiked jet fuel prices for distributors starting on Jan. 1 by around 7% in some key marketing areas, such as Betim, Guarulhos and Duque de Caxias.
Venezuela's 2024 oil exports climb 10.5% amid political turmoil, refinery outages
Venezuela's oil exports rose 10.5% last year despite political instability and changes to the U.S. sanctions regime on the country, as partners of state oil company PDVSA took more cargoes under licenses granted by Washington.
Singapore's Dec. jet fuel imports hit multi-year high on India, S. Korea supply
Singapore's jet fuel imports probably hit multi-year highs in December, with India the top supplier as the arbitrage to Europe stayed shut.
Indonesia's B40 palm oil delay causes market uncertainty
Indonesia has yet to implement a higher mandatory blend of biodiesel planned for Jan. 1 as industry participants await technical details of the new regulation, causing confusion among palm oil traders.
Oil rises on diesel demand boost in sparse holiday trade
Oil prices settled higher on Monday in thin late-year trade as investors bet on a drop in temperatures across the U.S. and Europe over the coming weeks to boost diesel demand.
Update: India's BPCL buys Middle East grades to replace Russian shortfall
State-run Indian refiner Bharat Petroleum Corp. (BPCL) is buying Middle Eastern crude to make up for less supply of cheaper Russian oil, its head of finance Vetsa Ramakrishna Gupta said in a recent interview.
- Iran's Revolutionary Guards say they targeted petrochemical facilities in the Gulf 4/6
- Damietta Green Ammonia completes pre-FEED for $873-MM, 150,000-tpy green ammonia facility 4/6
- EIB and Eni sign €500-MM in financing for new biorefinery in Sannazzaro de’ Burgondi 4/6
- India's Reliance buys Venezuelan oil directly from PDVSA 4/6
- Japan to boost intermediate chemical imports amid tighter naphtha supply 4/6
- Five EU countries call for windfall tax on energy companies 4/6
