Europe

Oil group MOL's refineries shift to non-Russian crude faces delay

Hungarian oil group MOL expects its refineries to be able to process both Russian and non-Russian crude oils by the end of 2026, a year later than planned as some adjustment projects have been delayed.

QatarEnergy signs 20-yr naphtha supply deal with Shell

QatarEnergy has entered into a long-term naphtha supply agreement with Shell, supplying up to 18 MMt of naphtha over 20 years from April 2025. 

Ineos' Ratcliffe: 600 jobs at stake at Geel PTA plant due to overzealous regulations

The INEOS purified terephthalic acid (PTA) plant at Geel in Belgium is threatened with closure as regulators aim to impose unattainable environmental targets on a factory that has already committed to an 80% reduction in cobalt levels.

Poland's Orlen's petchem project's capex continues to rise

Poland's Orlen's flagship petrochemicals project may see further losses due to problems in the planning and construction process, increasing total capex from $2.11 B to > $6.3 B.

bp abandons goal to cut oil output, resets strategy

bp has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence.

Russia considers diesel export ban for non-producers

Russian oil companies have held talks with the government on whether firms that do not produce diesel should be banned from exporting it because of concern the refiners may be losing subsidies.

Turkey, Brazil are main buyers of Russian seaborne diesel after EU embargo

Turkey and Brazil have been the main importers of Russian seaborne diesel and gasoil since the European Union banned the import of Russian oil products.

Nextchem signs agreement with KazMunayGaz for SAF project in Kazakhstan

NEXTCHEM and KazMunayGas-Aero have signed an agreement to collaborate on advancing energy transition initiatives, leveraging on NEXTCHEM’s proprietary technology portfolio and process engineering capabilities.

Russia's Tuapse oil refinery suspends processing due to low margins

Eni may sell more stakes in renewable, biofuel units retaining majority

Italy's Eni will decide about additional stake sales in its renewable and biofuel units, its CEO said, keeping in mind that it wants to list them on the stock market and retain the majority of their capital.