Europe
Polish refiner Lotos's M&A plans could hit dividend
WARSAW (Reuters) — Poland's second biggest oil refiner Lotos wants to buy local petrol stations and foreign oil deposits to strengthen its position in the market, its CEO said on Thursday, adding the plans could hit its dividend payout.
Italy's Mossi Ghisolfi draws interest for troubled US assets
FRANKFURT/MILAN (Reuters) — Italian plastics multinational Mossi Ghisolfi has attracted interest from a series of buyers, including plastics maker Indorama, for its US assets placed under Chapter 11 restructuring, sources close to the situation said.
Oil eases but still near four-week highs after Saudi supply pledge
LONDON (Reuters) — Oil steadied on Wednesday near a four-week high after top exporter Saudi Arabia said it was determined to end a supply glut that has been weighing on the market for 3 yr.
EU Commission clears Hungary's investment aid for MOL plant
BRUSSELS (Reuters) — The European Commission on Wednesday cleared $154.12 MM of investment aid Hungary granted to oil and gas company MOL for expanding a plant in the North of the country.
Petrochemicals continue to boost BASF earnings
FRANKFURT (Reuters) — German chemicals group BASF continued to benefit from strong prices of basic petrochemicals as capacity expansion projects in the sector lag behind global demand growth, posting higher-than-expected quarterly operating profit on Tuesday.
Tide of diesel from the East imperils Europe's rally
LONDON (Reuters) — A recent rally in European diesel prices could be jeopardized by rising inventories in November as a raft of tankers sets sail from the East, reversing two months of stock declines following Hurricane Harvey.
Rosneft says ready to discuss Citgo collateral swap
VERONA, Italy (Reuters) — Russian oil major Rosneft will consider proposals to replace a stake in US-based refiner Citgo it holds as collateral for a 2016 loan to Venezuela with another asset, CEO Igor Sechin said on Thursday.
Poland's PKN says expects higher downstream margins in 2017
WARSAW (Reuters) — Poland’s biggest oil refiner PKN Orlen expects its downstream margin to rise this year from $11.70/bbl in 2016, the company’s official said on Thursday.
Italy breaks up Libyan fuel smuggling ring involving mafia
ROME (Reuters) — Sicilian police on Wednesday sought the arrest of nine people, including a suspected mobster, for running a Libyan fuel-smuggling ring in which at least $35 MM of diesel was sold in gas stations in Italy and Europe.
OPEC seeking consensus on oil supply cut extension before meeting
LONDON (Reuters) — Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC's secretary general said on Thursday, with the potential for continuation throughout 2018 forming a basis for talks.
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