Economics
Russian wholesale gasoline prices decline, diesel stable
Russian wholesale gasoline prices declined, while diesel was stable, with both remaining far below the levels seen on Sept. 21 when Russia introduced a ban on fuel exports to tackle high prices and shortages.
Mexico restricts imports of dozens of petroleum and petrochemical products
Mexico has put restrictions on the import of dozens of refined petroleum and petrochemical products to curb fuel theft and adulteration including certain types of gasoline and diesel, jet fuel and additives.
Philippines seeks gasoline price cut with higher ethanol blend
The Philippine government aims to lower domestic pump prices for gasoline by calling for a higher ethanol blend of 20% on a voluntary basis, from the current mandatory 10%.
Vitol to launch specialist biofuel bunker barges in early 2024
Global energy trader Vitol will be delivering specialized bunker barges at Singapore in early 2024, and will be able to offer a range of biofuel blends through its subsidiaries V-Bunkers and Vitol Bunkers.
Saudi minister says oil firm acquisitions show that hydrocarbons 'here to stay'
Saudi Energy Minister Prince Abdulaziz bin Salman said that acquisitions by major oil firms such as Chevron's $53 B all-stock deal to buy Hess showed that hydrocarbons were here to stay.
Evergreen and CIP team up to explore green shipping fuels
Evergreen Marine Corporation and Copenhagen Infrastructure Partners have signed a Memorandum of Understanding to jointly explore production and usage of carbon-neutral e-fuels.
DHL and World Energy partner for aviation decarbonization with SAFc
DHL Express and World Energy have signed a long-term strategic agreement to accelerate the decarbonization of aviation logistics through the purchase of approximately 668 million liters of SAF via sustainable aviation fuel certificates.
Belarus expects Russia to pay $640 MM in compensation for refineries
Belarus expects to receive $640 MM from Russia in 2024 to compensate for losses sustained by its oil refineries.
Singapore to roll out electronic bunker delivery notes from November
Singapore's Maritime and Port Authority will launch a digital bunkering initiative on Nov. 1, making the city-state the first port in the world to use electronic bunker fuel delivery notes.
Asia's lack of biofuels demand hinders investments
A lack of biofuels demand in Asia-Pacific is making it hard for companies to justify pumping billions of dollars into projects in the region despite growing decarbonization efforts worldwide.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
