Economics
Russia's seaborne diesel exports drop 21% in May
Russia's seaborne diesel and gasoil exports were 21% lower in May from a month earlier at about 3.1 million tons as seasonal refinery maintenance cut supply and domestic demand rose.
Germany's conundrum: Energy transition goals increase chemical sector's challenges
Europe's largest economy is also one of the region's most aggressive advocates for shifting energy systems away from fossil fuels, and leads the continent in emissions reduction targets and investments in renewable energy supplies.
Oil edges up after steep losses ahead of U.S. debt ceiling vote
Oil prices edged up after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4-T U.S. debt ceiling.
Lyondell Basell delays refining business exit to 2025
Chemical maker Lyondell Basell Industries said that it plans to delay its refining business exit from year-end 2023 to no later than the end of the first quarter 2025.
Top shipper of Russian oil secures Indian cover as Western certifiers exit
An Indian agency has stepped in to provide safety certification for most of Gatik Ship Management's fleet, a major carrier of Russian oil to India, after Lloyd's Register and the American Bureau of Shipping withdrew classification for many of its vessels, records show.
Mexico's gasoline independence dream sinks in dirty fuel oil glut
Mexico's president took office in late 2018 pledging to boost local output of gasoline while phasing out imports, but so far state refineries have instead set a different course: bumper production of highly contaminating fuel oil.
Technip Energies, LyondellBasell and Chevron Phillips Chemical sign MOU for electric steam cracking furnace
Technip Energies, LyondellBasell and Chevron Phillips Chemical announced the signing of a Memorandum of Understanding for the design, construction and operation of a demonstration unit for Technip Energies’ electric steam cracking furnace technology (eFurnace by T.EN) to produce olefins.
ExxonMobil signs carbon capture agreement with Nucor Corporation, reaching 5 MTA milestone
ExxonMobil Low Carbon Solutions’ newest carbon capture and storage agreement – with Nucor Corporation, demonstrates their continued momentum in helping industrial customers reduce emissions.
Oil steadies as higher inventories balance U.S debt bill progress
Oil steadied as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the world's biggest oil consumer.
OPEC+ unlikely to deepen oil supply cuts at June 4 meeting
OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting despite a fall in oil prices toward $70 per barrel.
- Sherwin-Williams unveils new advanced energy barrier that eliminates threat of corrosion under insulation 6/26
- SIBUR develops new polyethylene grade for beverage packaging 6/26
- IGS launches Rovex, a next-generation robotic cleaning technology for fired heater efficiency 6/26
- A comprehensive technical evaluation of polypropylene technology platforms 6/26
- Sasol and Topsoe to refocus SAF partnership as Zaffra JV prepares for wind-down 6/26
- Indonesia sets 3-month transition period for B50 biodiesel program 6/26
