Economics
Chinese petchem firms betting big on energy transition products
Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies.
ECARU, Qalaa Holdings, and Axens to study second-gen biofuel and SAF production project
ECARU, Qalaa Holdings, and Axens, signed a cooperation protocol to carry out technical and economic studies for a project of second-generation biofuel and SAF production.
Venezuela will not halt productive oil operations amid contract disputes
Venezuela is not willing to halt productive operations during contract audits that have led to the arrest of businessmen and officials, and to disputes with customers and partners of state company PDVSA.
U.S. Senate backs measure barring oil sales to China from SPR
The U.S. Senate overwhelmingly passed an amendment to an annual defense bill that would ban exports to China of oil from the Strategic Petroleum Reserve.
India, Sri Lanka agree to boost ties through energy, power and port projects
India and Sri Lanka said that they had agreed to improve economic ties by increasing cooperation in renewable energy and studying the feasibility of building an oil pipeline and a land bridge between the two countries.
Russia is not ruling out quotas on fuel exports, deputy PM says
Russia is not ruling out introducing quotas on the export of oil products to stabilize gasoline prices, Russian Deputy Prime Minister Alexander Novak said, according to state media, as gasoline wholesale prices hit an all-time high.
Iran denies oil on tanker seized by Indonesia belongs to Tehran
Iran said the oil cargo of an Iranian-flagged supertanker seized by Indonesia last week does not belong to Tehran, Iranian state media reported.
Aramco completes $3.4 B purchase of Rongsheng Petrochemical stake
Aramco has successfully closed a landmark transaction to acquire a 10% interest in Rongsheng Petrochemical Co. Ltd. for $3.4 B through its subsidiary Aramco Overseas Company BV, based in the Netherlands.
Iraq and Lebanon sign MoU on Iraq providing Lebanon with fuel oil and crude oil
Iraq and Lebanon signed a memorandum of understanding (MoU) on Iraq providing Lebanon with fuel oil and crude oil, the Iraqi state news agency INA reported
Corpus Christi plastics plant construction will create up to 2,400 jobs at its peak
The completed Jumbo plastics project will be capable of producing between 1.1 million and 1.3 million metric tons of purified terephthalic acid, and polyethylene terephthalate.
- BASF introduces low-VOC polyurethane catalyst Lupragen® N 208 12/8
- 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
