Economics
New DNV survey highlights oil and gas sector paradox
The latest DNV survey, “The Paradox of Petroleum—How the oil and gas sector is transforming through uncertainty,” gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector.
Russian oil and gas revenues set to rise by 50% y/y in June, refinery subsidies decrease
Russia's oil and gas revenue in June is set to rise by more than 50% year on year to $9.4 B, after a decrease in subsidies to refineries and reflecting the Russian economy's ability to limit the impact of sanctions.
Oil prices push higher as demand expectations offset dollar strength
Oil prices edged up on Monday on the prospect of strong summer fuel demand and rising geopolitical tensions outweighed the effects of a stronger dollar.
Nigeria's Dangote Refinery accuses oil majors of blocking local crude purchase
An executive of the Dangote Refinery said on Sunday oil majors were blocking its access to locally produced crude oil by selling it above market price or claiming it was unavailable, forcing the company to rely on expensive imports.
China produces first nuclear-generated steam for petrochemicals plant
China's first nuclear-based steam generation project began production on Wednesday, state-run China National Nuclear Corp (CNNC) said in a Wechat post announcing the latest step in Chinese efforts to decarbonize heavy industry.
PTTGC wants to turn Map Ta Phut (Thailand) into petrochemicals hub
The company aims to build growth opportunity for Map Ta Phut to position it as a Southeast Asian hub.
Amogy and Plastic 2 Green partner to pioneer ammonia energy solutions
Amogy announced the signing of a Memorandum of Understanding (MoU) with Plastic 2 Green (P2G) to explore the integration of Amogy’s ammonia-to-electrical power system as a backup/supplementary power source for P2G’s green ammonia manufacturing facilities.
Financial alliances build as Citgo share auction enters last mile
At least five groups of investors submitted binding bids this month in a U.S. court-ordered auction of shares in Citgo Petroleum's parent, and three have secured financing commitments for Venezuela's foreign crown jewel.
OMV to invest €750 MM at Petrobrazi to produce sustainable fuels
OMV Petrom will invest approximately €750 MM at Petrobrazi to transform the refinery into the first major producer of sustainable fuels in the region.
Glocal Green, Norwegian Hydrogen to build large-scale bio-eMethanol facility in Norway
Ålesund-based Glocal Green and Norwegian Hydrogen have entered into a collaboration agreement on large-scale production of what is also known as bio-e-methanol.
- JERA signs time charter agreements with NYK and MOL for fuel ammonia carriers 6/23
- Coperion receives LNO from U.S. FDA for HDPE/PP recycling technology 6/23
- Sky Quarry announces Foreland refinery's entrance into the production phase 6/23
- AGPC awards Baker Hughes long-term service contract for Nigerian gas plant 6/23
- Velan announces closing of sale of controlling shareholder’s interest to Birch Hill for nearly C$204 MM 6/23
- S&B receives AFPM Contractor Safety Achievement Award 6/23
