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Economics

Johnson Matthey to sell Catalyst Technologies business to Honeywell for £1.8 B

Johnson Matthey Plc. is pleased to announce that it has reached an agreement to sell its Catalyst Technologies business to Honeywell International Inc. at an enterprise value of £1.8 B on a cash and debt-free basis.

U.S. says there are significant undiscovered oil and gas resources in Wyoming

A new federal assessment has identified significant undiscovered, technically recoverable oil and gas resources in parts of Wyoming, Utah and Colorado, the U.S. Interior Department said on Wednesday.

Saudi Arabia crude exports fall to 5.754 MMbpd in March

Saudi Arabia's crude exports in March fell to 5.754 MMbpd from 6.547 MMbpd in February.

India's Russian oil imports hit 10-month high on strong demand for ESPO crude

India's Russian crude oil imports will hit close to 1.8 MMbpd in May, the highest in 10 months, ship tracking data from Kpler showed, after refiners snapped up more light grades such as ESPO Blend.

EU, Britain go ahead with new Russia sanctions without waiting for Trump

The EU and Britain announced new sanctions against Russia on Tuesday without waiting for Washington to join them, a day after President Donald Trump's phone call with Vladimir Putin brought about neither a ceasefire in Ukraine nor fresh U.S. sanctions.

Stronger U.S. hurricane season could mean more oil supply outages

An expected stronger hurricane season than average raises the risk of weather-related production outages in the U.S. oil industry.

HPCL aims to start crude unit at 9-MMtpy Rajasthan refinery (India) in October

Hindustan Petroleum Corp. Ltd. announced that it plans to begin crude processing at its 9-MMtpy Rajasthan (India) refinery in October of this year. The company has also announced that it hopes to start petrochemicals production in January 2026. 

Russia in favor of extending partial gasoline export ban

Russian government is in favor of extending its partial gasoline export ban, which is in force until the end of August, to September and October

Nigeria's fuel traders struggling to secure gasoline from refurbished state refineries

Nigerian fuel traders are struggling to secure gasoline supplies from two newly refurbished state-run refineries six months after they were declared operational, they say, leaving them reliant on the privately owned Dangote oil refinery and imports.

Germany's VCI says chemical sector sales grew 1.8% in Q1 of this year

Quarterly sales in Germany's chemical industry grew 1.8% from last year, helped by higher demand and pull-forward effects from U.S. customers stocking up