Europe
Oil prices edge up on short covering; gasoline jumps
NEW YORK (Reuters) -- Oil prices gained slightly on Wednesday as investors covered short positions after a rise in US crude inventories was not as massive as many had feared, while gasoline futures jumped nearly 4% after a surprise decline in inventories of the fuel.
Crude cargo lawsuit drags BP's oil trading division into the red
LONDON (Reuters) -- BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery.
Siemens, Voest and Verbund to build largest green hydrogen site
VIENNA (Reuters) -- Siemens, steel maker Voestalpine and hydropower firm Verbund are planning to build a cutting-edge plant to make green hydrogen more suitable for industrial use, the companies said on Tuesday.
Oil prices steady as reviving shale balances OPEC cuts
LONDON (Reuters) -- Oil prices steadied on Tuesday as lower production by OPEC and other exporters balanced growing evidence of a revival in US shale production and sluggish demand.
Refiner Neste posts strong renewable profits, mulls investment
HELSINKI (Reuters) -- Finnish refiner Neste reported a rise in annual operating profit on Tuesday led by renewables and said it would look to expand in biofuels, possibly through investment in the United States or Singapore.
DCC to buy ExxonMobil's Norwegian retail petrol station network
(Reuters) -- London-listed DCC Plc said it would buy the retail petrol station network of ExxonMobil's Norwegian unit, Esso Norge AS, for $293.38 million.
BP lifts break-even oil price after profit miss
LONDON (Reuters) -- BP raised the oil price at which it can balance its books this year to $60 a barrel on Tuesday due to higher spending following a string of investments as annual earnings fell for a second consecutive year.
Oxea declares force majeure on Butyl Acetate in Europe
Monheim am Rhein, Germany – The international chemical company Oxea declares force majeure on Butyl Acetate in Europe until further notice. Due to technical issues at its production plant in Marl, Germany, Oxea is unable to maintain the manufacture and supply of Butyl Acetate.
MAN Diesel to supply gas turbine to Chinese company
In collaboration with the Chinese company Guangdong Liyu New Energy Science & Technology Co. Ltd., MAN Diesel & Turbo is supplying a compact gas turbine package for the decentralized production of heat and power.
Hammer could fall on Europe's vulnerable refineries from 2018
ANTWERP (Reuters) -- Strong residual demand for oil products and the emergence of only a handful of new refineries will protect the profits of Europe's long struggling operations this year, but experts expect the hammer to fall on the weakest from 2018.
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