Economics

Japan's JX, TonenGeneral merger deal imminent

Japan's JX Holdings and TonenGeneral Sekiyu are set to finalize details Wednesday, August 31 for a new merged company to be formed in April 2017.

Wärtsilä, Gasum aim to develop LNG markets

Wärtsilä and Finland based Gasum signed a joint cooperation agreement aimed at developing the use, distribution, and service solutions for natural gas in marine and onshore applications.

ExxonMobil, BP, ConocoPhillips decide not to invest in Alaska LNG

ExxonMobil will likely sell their share of the Alaska LNG JV with BP, Conoco Phillips and the state government, as they believe the project will not be profitable under current market conditions.

Profit at China's Sinopec slumps 21.6% in first half

Sinopec said its net profit fell 21.6% in the first half of 2016, hurt by a steep decline in international oil prices.

Shell and government of Gibraltar sign LNG supply agreement

The government of Gibraltar and Shell signed an agreement for the supply of LNG for use in power generation in Gibraltar.

Oil refiners face reprieve as maintenance tames fuel glut

Oil refiners reeling from tumbling profits can expect some reprieve in the coming weeks as lower production could tame a huge global excess of gasoline and diesel.

LyondellBasell retains bank for potential Houston refinery sale

LyondellBasell Industries has retained Bank of America Merrill Lynch to help with the potential sale of its refinery in Houston.

Hyundai Engineering lowers design costs with 3D technology

Hyundai Engineering used 3D technology to increase the efficiency of engineering design on their $2 B petrochemical plant project.

US crude, gasoline stocks build unexpectedly as refineries cut output

According to the US Energy Information Administration, US crude and gasoline inventories rose unexpectedly last week as refineries cut output.

EIA: Crude price differentials a factor as refining profits converge

Refinery earnings were lower in Q2 2016 compared with the same time last year and are converging among different locations globally.