Europe
Iraq says achieved OPEC oil cut share, ready to meet new demand
LONDON (Reuters) — Iraq has achieved its share of the production cut agreement reached by OPEC and non-OPEC producers at the end of last year but remains ready to meet future oil demand growth, according to a speech by Iraqi oil minister Jabar al-Luaibi on Monday.
Carlyle battles insurers in New York over Moroccan oil losses
LONDON (Reuters) — US private equity firm Carlyle Group is suing a group of its insurers over $400 MM worth of oil it claims it lost when Morocco's sole refinery went bankrupt two years ago, court documents show.
Clariant, Huntsman to merge, creating $20-B enterprise
MUTTENZ, Switzerland — Clariant and Huntsman Corporation announced that their Boards of Directors unanimously approved a definitive agreement to combine in a merger of equals through an all-stock transaction.
Black Sea diesel plant upgrade delayed by a year to 2019
MOSCOW (Reuters) — Russia's Rosneft has postponed plans to upgrade a plant on the Black Sea by around a year, delaying the supply of an additional 5.5 MMt of Russian diesel per year, industry sources told Reuters.
EIA: OPEC net oil revenues in 2016 were the lowest since 2004
Members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $433 B in net oil export revenues in 2016, the lowest since 2004. In real dollar terms, the 2016 revenue represents a 15% decline from the $509 B earned in 2015, mainly because of the fall in average annual crude oil prices and, to a lesser extent, because of decreases in OPEC net oil exports.
Full tanks and tankers: a stubborn oil glut despite OPEC cuts
NEW YORK/LONDON/SINGAPORE (Reuters) -- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks.
Glencore agrees JV deal to supply Mexican fuel stations
LONDON (Reuters) -- Mining and commodities trading group Glencore is jumping into Mexico's recently opened energy sector, one of the hottest investment tickets in the industry, by setting up a retail station franchise and fuel supply deal with local group Corporacion G500 SAPI (G500), it said on Thursday.
KBR wins two more contracts for EuroChem Kingisepp Ammonia
HOUSTON -- KBR, Inc. announced it has been awarded Operator Training Simulator (OTS) and Reliability Based Maintenance (RBM) services contracts by JSC EuroChem Northwest for their ammonia plant under construction in Kingisepp, Russia.
Burckhardt awarded modernization project at MOL petchem plant in Hungary
Burckhardt Compression was selected to modernize MOL Petrochemicals' third-party Hyper Compressor at its LDPE plant in Tiszaújváros, Hungary. The goal was to improve production performance and to establish a comprehensive, long-term service capability with a running-hours guarantee.
Rosneft eyes joint oil supplies to Egypt with Italy's Eni
SOCHI, Russia (Reuters) -- Russia's largest oil producer Rosneft and Italian energy company Eni have signed an agreement to broaden cooperation, including in possible joint oil product supplies to Egypt, Rosneft said on Wednesday.
- Uniper and AM Green sign long-term offtake agreement for up to 500,000 tpy of renewable ammonia from India 1/12
- Indonesia president inaugurates Balikpapan refinery upgrade worth $7.4 B 1/12
- Carlyle, Chevron-Quantum partnership among frontrunners for Lukoil assets 1/12
- Brazil's diesel imports hit record in 2025 amid local production decline 1/12
- Vitol to load first diluent cargo under Venezuela supply deal last weekend 1/12
- Maersk explores more ethanol use for green fuel to cut reliance on China 1/12
