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Economics

Aircastle announces investment commitment to SAF fund

Aircastle Limited announced that it has made an investment commitment to the United Airlines Ventures' Sustainable Flight Fund.

Evergreen Marine and X-Press Feeders sign MOA for green methanol shipping routes in Europe

Evergreen Marine Corporation has signed a MOA with X-Press Feeders to place its containers on X-Press Feeders’ new dual fuel green methanol vessels.

Russia cuts fuel oil supplies by rail for further export by 1.2% in January

Russia reduced fuel oil supplies via rail for further export by 1.2% in January from the same month a year ago and by 6.2% from December amid refinery outages.

India resumes buying Russian Sokol oil after 2-month hiatus

India has resumed imports of Russian Sokol oil after a two-month gap with at least two refiners so far taking deliveries of the light sweet crude in February.

Fire at Equinor's Mongstad, Norway oil refinery extinguished

Equinor said in a statement that the fire, in an electrical kiosk at the refinery, had been extinguished and that emergency personnel were sent for routine medical follow-up.

U.S. refinery M&A stalls as buyers shun aging assets, uncertain future

The U.S. oil industry saw nearly $200 B in upstream deals last year, but the refining sector missed out despite plenty of willing sellers as the energy transition away from fossil fuels accelerates and casts doubt over the long-term value of aging U.S. refineries.

Marathon's Detroit refinery workers aim to work out contract without strike, union says

Teamsters, one of America's biggest unions, said it wants to negotiate a new contract with Marathon Petroleum for its members at the Detroit refinery without having to go on a strike.

Heidelberg Materials North America announces latest step in Edmonton CCUS Project

Heidelberg Materials North America announced a significant milestone in its two-stage competitive procurement process as it works to select the capture technology and contractor for providing the CO2 separation solution for its Edmonton, Alberta, Carbon Capture, Utilization, and Storage Project.

Lake Charles Methanol announces plan for new $3.2-B manufacturing plant in Southwest Louisiana

Lake Charles Methanol II, LLC announced plans to invest $3.24 B to construct a new manufacturing plant that will produce low-carbon intensity methanol and other chemicals at the Port of Lake Charles.

Natixis joins United Airlines as corporate partner with investments in expansion of SAF

Natixis Corporate & Investment Banking announced its investment in the United Airlines Ventures Sustainable Flight Fund - the first of its kind venture fund focused on funding startups dedicated to scaleup of SAF production through advancing technology and sustainable feedstock development