Economics
European Parliament supports RED III, bolstering EU's renewable energy goals
The European Parliament has overwhelmingly approved RED III, an updated Renewable Energy Directive, with 470 votes in favor and 120 against.
EU's SAF quotas not feasible with today's production
European Union quotas for SAF, seen as an expensive but essential key to greener air travel, are not achievable by today's standards, according to the chief executive of Germany's Lufthansa.
U.S. producer prices accelerate in August on gasoline
U.S. producer prices increased by the most in more than a year in August as the cost of gasoline surged, the latest indication that the road to low inflation would be uneven.
Iran's Revolutionary Guards seize two ships smuggling 1.5 MM liters of fuel
Naval forces of Iran's Revolutionary Guards have in recent days seized two Panama-flagged ships smuggling a total of 1.5 million liters of fuel.
OCI Global doubles capacity as shipping industry seeks green methanol
OCI Global the world's biggest producer of green methanol, plans to double the production capacity at its Texas facility to 400,000 metric tons per year.
India's Reliance to temporarily shut some Jamnagar units for maintenance
India's Reliance Industries said that it plans to temporarily shut three units at its plant in Jamnagar in the western Indian state of Gujarat for planned maintenance and inspection activities.
Biden vows to cut U.S. gasoline prices
President Joe Biden vowed to get U.S. gasoline prices down, one day after a report showed consumer inflation surged by the most in 14 months due to higher energy costs.
China oil refinery output rises to record on firmer demand, export margins
China's oil refinery throughput in August rose to a record, data showed, as processors in the world's second-largest crude consumer kept run rates high to meet summer travel demand and capitalize on strengthening export margins.
Belarus' Lukashenko says Minsk ready to increase fuel shipments to Russia
Belarusian President Alexander Lukashenko told Russian President Vladimir Putin that Belarus has recently supplied 60,000 tons of diesel and 60,000 tons of petrol to Russia and is ready to further increase shipments.
Indian minister walks back plans for higher taxes on diesel vehicles
India is not planning to levy any new tax on diesel vehicles two days after he warned automakers to reduce diesel production or face higher taxation.
- 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 announces $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
