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Economics

Nigeria's new Dangote refinery to export fuel oil, naphtha cargoes

Nigeria's Dangote oil refinery has issued tenders to sell two fuel cargoes for export, the first from the newly commissioned refinery.

U.S. crude stocks rose while gasoline and distillate inventories fell

U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending February 9, 2024 the Energy Information Administration said.

Russia's seaborne oil product exports fell in January, calculations show

Russia's January seaborne oil product exports fell 8.6% from a year earlier and 2% from the previous month to 10.792 MMt owing to lower processing and unplanned refinery repair work.

Uganda says it is in talks to import all its oil via Tanzania

Uganda is negotiating with Tanzania to import all of its oil products through Dar es Salaam, which would mean an end to imports via Kenya's Mombasa port.

Singapore fuel oil inventories draw for second consecutive week

Singapore's onshore fuel oil inventories fell for a second straight week as an uptick in exports exceeded a climb in imports.

Russia's Novatek resumes processing at damaged Ust-Luga complex

Russian energy company Novatek resumed gas condensate processing at its Ust-Luga complex after the site was damaged last month by a suspected Ukrainian drone attack.

EE North America and Montauk Renewables forge agreement for biogenic CO2 delivery

In a pivotal move towards sustainable energy solutions, EE North America and Montauk Renewables, Inc. have signed a long-term contract for the delivery of 140,000 tpy of biogenic CO2 over a minimum 15-year term.

Mabanaft is granted $13 MM in funding for the construction of a new solar methanol plant in Australia

Together with Australian renewable energy company Vast, Mabanaft is assessing to build a demonstration plant with a capacity of around 7,500 tons of green methanol per year.

Shell quits Iraqi petrochemicals plant talks

Oil major Shell has withdrawn from talks on building a petrochemicals plant in the southern oil hub of Basra.

The European aviation association urges policymakers to enhance their efforts in promoting SAF

European aviation associations, part of the DESTINATION 2050 alliance, urge EU policymakers to enhance efforts for a leading SAF industry.