Economics

Construction to begin on multi-billion-dollar polyethylene plant in Kazakhstan

The main construction work at the polymerization unit of the future polyethylene production plant (a joint project of KazMunayGas, SIBUR and Sinopec) in Kazakhstan will begin in October 2025, KazMunayGas said.

West hits ‘peak sanctions’ on Russia’s energy sector

The complex web of Western sanctions targeting Russia’s oil and gas industry has failed to impede Moscow’s energy flows or its war effort, suggesting that time and overuse are blunting the force of U.S. and European financial weapons.

AFPM: Will the ‘26-‘27 RFS ‘unleash’ affordable, reliable energy?

The Environmental Protection Agency is attempting to finalize the largest and most expensive Renewable Fuel Standard (RFS) mandate in history. This would significantly increase costs for American refiners and consumers.

India's ONGC to keep buying Russian oil if prices economical

Indian explorer Oil and Natural Gas Corporation said its refining units will continue to buy Russian oil if available at economical prices.

Europe distillates-diesel profit margins hold steady

Universal Fuel Technologies’ SAF accepted into ASTM Clearinghouse for qualification

Universal Fuel Technologies' ethanol-to-jet sustainable aviation fuel produced via the company’s Flexiforming technology has been accepted into the ASTM D4054 Clearinghouse, which supports the technical evaluation of new aviation fuels, for qualification.

India's ONGC plans to set up trading unit for crude, refined fuels for group firms

India's state-run Oil and Natural Gas Corp (ONGC) is planning to set up a trading unit for the crude and refined fuels of its group companies, a top executive at ONGC Videsh said.

China's carbon market to introduce absolute emissions caps from 2027

China will tighten its carbon trading market by introducing absolute emissions caps in some industries for the first time starting by 2027, China's cabinet said.

ExxonMobil sees global natural gas demand surging in outlook to 2050

Global demand for natural gas will rise more than 20% by 2050 from last year's level, as it displaces coal to power industries and meet higher electricity use in developing countries, ExxonMobil said in an annual outlook.

Trump tariffs force much-needed petrochemicals contraction

U.S. President Donald Trump's trade wars are nudging the global plastics industry toward a painful but necessary restructuring to address acute overcapacity that has kept the industry’s profits in a prolonged slump.