Economics
bp workers at Rotterdam refinery start work-to-rule action
Workers at the BP refinery in Rotterdam began work-to-rule industrial action on Monday after the noon expiry of a union deadline for a new pay agreement, a union spokesman said.
Refiner Phillips 66 to boost investor returns by up to $12 B
Refiner Phillips 66 said it plans to return up to $12 B more to shareholders by end-2024 through dividends and stock buybacks, sending its shares up as much as 3%.
Indian petrochemical demand could rise threefold by 2040
India's annual petrochemical consumption could nearly triple to 80 MMt by 2040 forcing the country to either raise imports or invest into building new facilities, said an executive at the nation's top refiner Indian Oil Corp.
Citgo Petroleum reports $477 MM third quarter profit
Results for the Venezuelan-owned company and other U.S. refiners have touch records this year as prices for motor fuels climbed sharply on the U.S. economic recovery and on global shortages caused by Russia's invasion of Ukraine.
Chinese refiners boost diesel output to profit from robust export margins
China's refined oil product exports in November are set to hit the highest since April 2020 as refiners ramp up output to multi-month highs to boost diesel supply and profit, offsetting the impact of slower domestic demand from COVID-19 restrictions.
South Korea's LG Chem may extend maintenance at Yeosu naphtha cracker
South Korean petrochemical operator LG Chem may extend maintenance at its naphtha cracker for a month into December, a company official said on Wednesday, to deal with unattractive cracking margins.
Phillips 66 plans to lay off 1,100 workers by end-2022
Refiner Phillips 66 said on Wednesday, it plans to reduce its employee headcount by 1,100 to help cut costs and meet its savings target of $500 MM by end-2022.
Italy's plans to secure financing for Lukoil refinery face obstacles, sources say
Italy's efforts to secure financing to keep an Italian oil refinery owned by Lukoil up and running despite new sanctions on Russia kicking in next month have hit obstacles.
Indonesia targets sugar self-sufficiency in 5 yrs, eyes ethanol production
Indonesia will expand its sugar plantation area to try to become self-sufficient in the next five years and is eyeing development of renewable sugar-based ethanol afterwards, President Joko Widodo said.
French energy minister says fuel supply crisis over
Supply at French petrol stations is returning to normal with only one TotalEnergies refinery at Feyzin in Southern France still on strike, Energy Minister Agnes Pannier-Runacher said on Thursday.
- Michelin, IFPEN and Axens announce successful progress in BioButterfly™ R&D project to produce biobased butadiene from bioethanol 12/11
- UPM launches the first bio-based, NIR-detectable, carbon-negative pigment for premium packaging 12/11
- Five mega-trends reshaping the global energy and resources landscape in 2025 12/11
- RCI, nova-Institut unveil new carbon label for products, intermediates and raw materials 12/11
- SK Energy secures in-house access to feedstock to create Korea's first vertical integration for waste plastics recycling 12/11
- Petronet LNG secures loan for 750,000-tpy PDH/PP project in India 12/11
