Economics
U.S. fund and Indonesian oil group to make offer for Sicilian refinery ISAB
Cypriot private equity fund G.O.I. Energy has owned the refinery since buying it from Russian energy group Lukoil in 2023. The plant accounts for around a fifth of Italy's refining capacity.
What's in the EU's 20th package of sanctions against Russia?
The EU had initially aimed to adopt the package to mark the fourth anniversary of Russia's full-scale invasion of Ukraine on February 24.
Europe's response to the Iran war energy crunch
Central to the EU proposals is a focus on reducing reliance on oil and gas, to cushion against future fossil fuel supply disruptions and price spikes.
Iran war may crush oil demand today, but send it soaring long term
Spiking energy security concerns and greater fragmentation could lead to a less efficient, more voracious global energy system.
Oil prices rise after reports container ships in Hormuz hit by gunfire
Oil prices rose 2% on Wednesday, erasing earlier losses after reports of gunfire attacks on at least three container ships in the Strait of Hormuz and a lack of progress in peace talks between the U.S. and Iran.
Opinion: Opening Hormuz is the easy part—restoring oil flows isn’t
The immediate impact has been severe. Around 13 MMbpd of oil supply and roughly 300 MMm3d of liquefied natural gas (LNG) have been trapped inside the Gulf, forcing producers to shut in oil fields, refineries and LNG plants and battering economies from Asia to Europe.
- Ineos to shut polystyrene facility in Illinois (U.S.) by the end of the year 6/19
- How ASTM approval of methanol-to-jet accelerates SAF at scale 6/19
- EU crafts plan to give industries extra free CO2 permits this year 6/19
- PetroChina forecasts Chinese oil consumption will drop 4.9% this year 6/19
- Digital Exclusive: Water injection pump mechanical seals failure after pump shutdown 6/19
- Russian gasoline output down 25% so far in June after drone attacks on refineries 6/19
