Management
INEOS Enterprises to sell Composites business to KPS Capital Partners for €1.7 B
INEOS Enterprises has entered into an agreement for the sale of the INEOS Composites business to KPS Capital Partners, LP for an estimated consideration of €1.7 B at completion. INEOS Composites is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins and gelcoats used in the production of plastic composites for a wide range of applications across large global end-markets.
Russia's Rosneft may delay refinery modernization due to high interest rates, taxes
Rosneft, Russia's largest oil producer, said it may delay modernizing its refineries due to high interest rates and taxes, as its nine-month profit fell 13.9% year on year to $8.7 B.
WGLC 2024: Transitioning to Leadership
While leadership was the overarching focus of the conference, panel and keynote topics ranged from concerns like work-life balance and industry cultural expectations, to practical leadership strategies and the diverse possibilities of career trajectories in the industry.
Aramco, Rongsheng Petrochemical sign framework agreement for SASREF petrochemicals expansion project
Aramco, Aramco affiliate Saudi Aramco Jubail Refinery Company (SASREF), and an affiliate of Rongsheng Petrochemical Co. Ltd. (Rongsheng Petrochemical) have signed a Development Framework Agreement in Beijing, China, that paves the way for an expansion project at SASREF in Jubail, Kingdom of Saudi Arabia.
WGLC 2024 opens with strong call for women’s leadership in energy
The 20th annual Women’s Global Leadership Conference in Energy (WGLC) kicked off with a powerful opening session led by Alexandra “Alie” Pruner, Senior Advisor at Perella Weinberg Partners/TPH&Co.
Digital Exclusive: U.S. flip-flop jeopardizes global treaty to end plastic pollution
Rob Benedict, Vice President, Petrochemicals and Midstream, American Fuel and Petrochemical Manufacturers (AFPM), details the Biden administration's (U.S.) flip-flop on allowing individual countries to take their own path to tackle plastics pollution, and instead, wants universal plastic production caps and the banning of certain chemicals. Mr. Benedict details why this approach will only hurt the global objective to end plastic pollution.
Thai SCG halts operations at $5.4-B Vietnam petrochemical complex
Siam Cement Group said it has suspended commercial operation at its $5.4-B Long Son Petrochemicals complex in Vietnam after only one month due to "the chemicals' low margin".
Marathon, Teamsters to resume contract talks as Detroit refinery strike enters second month
Marathon Petroleum Corp. and the Teamsters union, which represents hundreds of refinery workers, will resume labor contract negotiations this week as a strike at the refiner's Detroit facility enters a second month.
Oman's OQ to list up to 49% stake in methanol, ammonia and LPG arm
Oman's OQ Base Industries, the methanol, ammonia and LPG arm of state-owned OQ, plans to list an up to 49% stake on the local stock exchange. The listing is part of a privatization program by state-owned energy group OQ to diversify its economy and cut its debt.
LyondellBasell to close Houston refinery (U.S.) in Q1 2025
Chemical maker LyondellBasell Industries detailed its long-announced plan to permanently shutter its 263,776-bpd Houston oil refinery in the first quarter of 2025, shutting the facility's CDU and coker train in January, followed by the shuttering of the second CDU-coker production train, which supplies the gasoline-producing FCC and ancillary units, ending motor fuel production
- Petrobras delivers LPG sold at steep premiums despite Lula move to annul auction 4/3
- Plug Power to supply 275-MW GenEco electrolyzer system for Hy2gen’s Courant decarbonized ammonium nitrate project 4/3
- Vietnam refinery boosting jet fuel production 4/3
- China plans to upgrade some petrochemical plants, phase out others by 2029 4/3
- Morocco has diesel stocks for 51 days, energy ministry says 4/3
- Nigeria's Seplat Energy hit by strike amid push for higher output 4/3
