Economics

Vietnam's largest refinery output to fall 20%-25% due to unit shutdown

The Ministry of Industry and Trade has asked fuel traders to increase their imports to compensate for the shortfall "to ensure sufficient fuels for the local market until the end of the first quarter," the government said.

Crude oil prices increased in first-half 2022 and declined in second-half 2022

In the first half of 2022, geopolitical tension with Russia, culminating with Russia’s full-scale invasion of Ukraine on February 24, contributed to crude oil price increases.

Oil dives 4%, trade choppy on worries about China, global economy

Oil prices tumbled 4% in volatile trade, pressured by weak demand data from China, a gloomy economic outlook and a stronger U.S. dollar.

Energy commodity prices in 2022 showed effects of Russia’s full-scale invasion of Ukraine

After increasing 68% from January through June, the energy component of the S&P Goldman Sachs Commodity Index (GSCI) ended the year 10% higher than the first trading day of 2022.

China raises fuel export quotas to spur refinery output

China has raised its first batch of 2023 export quotas for refined oil products by nearly half versus a year ago, China-based consultancies said on Tuesday, to spur refinery output, capture strong export margins and adapt to slow domestic demand.

Russia freezes Linde assets worth $488 MM

A Russian court has ordered nearly $500 MM of assets belonging to German industrial gases company Linde to be frozen at the request of a Russian joint venture building a gas complex.

Fast ion chromatography analysis for determining biofuel sugars

Shevlin, C., Thermo Fisher Scientific

All industrial processes require reliable, accurate and timely methods for analyzing process chemistry.

Oil set to close higher in 2022, a turbulent year marked by tight supplies

Oil prices edged up and were on track to post a second straight annual gain, albeit a meager one, in a year marked by tight supplies due to the Ukraine conflict, a strong dollar and weak demand from the world's top crude importer China.

China's Sinopec appoints new chief for trading arm Unipec

Chinese refining giant Sinopec Corp has appointed Zhong Fuliang, vice president of its trading arm Unipec, as the new managing director of the unit, according to a company representative.

Mexico's Pemex sees poor environmental record as threat to financing

Mexican state oil company Pemex said it has been falling behind in a global race to transition from fossil to renewable energy sources, and that stricter demands from environmentally conscious investors pose a threat.