Economics

UAE to up value of U.S. energy investments to $440 B by 2035

The United Arab Emirates plans to raise its energy investments in the United States to $440 B in the next decade, it said on Friday, boosting U.S. President Donald Trump's efforts to secure major business deals on a Gulf tour.

Topsoe’s technology chosen by Zhongneng Yida for 400,000-tpy SAF plant in China

Phillips 66 announces agreement to divest majority interest in Germany and Austria retail marketing business

Phillips 66 announced that its subsidiary, Phillips 66 Continental Holding GmbH, has entered into a definitive agreement to divest a 65 percent interest in its Germany and Austria retail marketing business, including JET-branded sites, to a consortium owned by subsidiaries of investment firms Energy Equation Partners and Stonepeak.

Asia's refined fuel imports drop, but margins still hold

Asia's imports of key refined fuels such as gasoline and diesel fell to the lowest in four years in April, driven by a combination of refinery maintenance and weaker demand in the top-importing region.

U.S. imposes sanctions on companies it says sent Iranian oil to China

The U.S. Treasury Department on Tuesday imposed sanctions on more than 20 companies in a network that it said has long sent Iranian oil to China, days after negotiators from Iran and the United States concluded a fourth round of nuclear talks.

Emerson's Aspen Technology business releases new software with expanded AI capabilities, enhanced visualization and simplified workflows

Emerson announced a new release of the flagship software of its Aspen Technology business. The release introduces a significant expansion of industrial AI capabilities, enhances user experience, provides new capabilities to accelerate progress toward sustainability goals and improves operational performance. 

U.S. House targets big climate, clean energy rollbacks in budget proposal

U.S. House lawmakers laid out plans to phase out clean energy tax credits, slash spending on electric vehicles and renewable energy, and claw back other climate-related funds as part of the Republicans' attempt to pass a multi-trillion-dollar budget in line with President Donald Trump's agenda.

Mexico's Pemex plans to export less crude oil as new refinery starts up

The trading arm of Mexico's state company Pemex, PMI, is anticipating a reduction in crude oil exports this year as more will be sent to local refineries, especially the new Olmeca refinery.

Fertiglobe to acquire Wengfu Australia’s distribution assets

Fertiglobe, the world’s largest seaborne exporter of urea and net ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa region, and ADNOC’s low-carbon ammonia platform, has signed an asset sale and purchase agreement to acquire the distribution assets of Wengfu Australia Pty Ltd., a leading fertilizer distribution business.

Ionikylation unit at PetroChina's Dagang refinery reaches 1,000 days of continuous operation

PetroChina Dagang Petrochemical Company has reached the milestone of 1,000 continuous days of operation for its 150,000-tpy Ionikylation unit.