Management
Italy's Eni eyes new unit to manage oil refineries
Eni intends to set up a new company focused on several assets including oil refineries and fuels storage facilities in Italy
INEOS to cease phenol production at German site, cites high European energy costs and CO2 tax policy
INEOS Phenol, the world's largest producer of phenol and acetone, announced its intention to permanently stop production at their site in Gladbeck, Germany. Sky high European energy costs alongside Europe’s punitive CO2 tax policy have combined to leave Europe uncompetitive against imported Chinese production and a global oversupply.
OCI Global receives U.S. regulatory approval for the sale of its global methanol business to Methanex Corp.
Under the proposed Transaction, Methanex will acquire 100% of the equity interests in OCI Methanol, comprising 100% of OCI’s US and European methanol assets. The Transaction consideration will be paid through a combination of approximately USD $1.2 billion of cash (taking into account net indebtedness) subject to customary closing adjustments, and the issuance of 9.9 million common shares of Methanex.
UPM cancels second Rotterdam biomass-to-fuels refinery
UPM plans to discontinue the development of its potential second biomass-to-fuels refinery at the Port of Rotterdam. UPM plans to halt all engineering work related to the CAPEX investment and withdraw from all site-related commitments associated with the Rotterdam investment
Wood selected as project management consultancy for first major methanol plant in the UAE
Wood has secured a contract from TA’ZIZ to provide project management consultancy (PMC) for the development of the UAE’s first methanol production facility in Al Ruwais Industrial City, Abu Dhabi.
Gulf Energy Information’s Lee Nichols recognized with prestigious G. D. Crain Jr. Award
Lee Nichols, Vice President of Content for Gulf Energy Information of Houston, Texas (U.S.) and London, England has been named the 2025 winner of the prestigious G.D. Crain Jr. Award, the highest recognition for editorial in business-to-business media.
Indonesia's Pertamina refinery unit plans 30-day shutdown of Dumai plant in October
The refining unit of Indonesian state energy company Pertamina plans a 30-day shut down of its Dumai refinery in October, chief executive Taufik Aditiyawarman said.
Emerson's Aspen Technology business releases new software with expanded AI capabilities, enhanced visualization and simplified workflows
Emerson announced a new release of the flagship software of its Aspen Technology business. The release introduces a significant expansion of industrial AI capabilities, enhances user experience, provides new capabilities to accelerate progress toward sustainability goals and improves operational performance.
U.S. House targets big climate, clean energy rollbacks in budget proposal
U.S. House lawmakers laid out plans to phase out clean energy tax credits, slash spending on electric vehicles and renewable energy, and claw back other climate-related funds as part of the Republicans' attempt to pass a multi-trillion-dollar budget in line with President Donald Trump's agenda.
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
