Europe
Petrochemicals continue to boost BASF earnings
FRANKFURT (Reuters) — German chemicals group BASF continued to benefit from strong prices of basic petrochemicals as capacity expansion projects in the sector lag behind global demand growth, posting higher-than-expected quarterly operating profit on Tuesday.
Tide of diesel from the East imperils Europe's rally
LONDON (Reuters) — A recent rally in European diesel prices could be jeopardized by rising inventories in November as a raft of tankers sets sail from the East, reversing two months of stock declines following Hurricane Harvey.
Rosneft says ready to discuss Citgo collateral swap
VERONA, Italy (Reuters) — Russian oil major Rosneft will consider proposals to replace a stake in US-based refiner Citgo it holds as collateral for a 2016 loan to Venezuela with another asset, CEO Igor Sechin said on Thursday.
Poland's PKN says expects higher downstream margins in 2017
WARSAW (Reuters) — Poland’s biggest oil refiner PKN Orlen expects its downstream margin to rise this year from $11.70/bbl in 2016, the company’s official said on Thursday.
Italy breaks up Libyan fuel smuggling ring involving mafia
ROME (Reuters) — Sicilian police on Wednesday sought the arrest of nine people, including a suspected mobster, for running a Libyan fuel-smuggling ring in which at least $35 MM of diesel was sold in gas stations in Italy and Europe.
OPEC seeking consensus on oil supply cut extension before meeting
LONDON (Reuters) — Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC's secretary general said on Thursday, with the potential for continuation throughout 2018 forming a basis for talks.
Total, Saudi Aramco discussing JV refinery expansion
LONDON (Reuters) — Total is in talks with Saudi Aramco to expand their Saudi joint venture refinery by more than 10%, the chief executive of the French energy company said on Wednesday.
Russia reaches outline debt restructuring agreement with Venezuela
MOSCOW (Reuters) — Russia has reached a general agreement with Venezuela on restructuring its debt to Moscow, RIA news agency cited Russian Finance Minister Anton Siluanov as saying on Saturday.
Total enters the petroleum product retail sector in Mexico
PARIS — Total has entered into an agreement with GASORED, a group of service station owners, to rebrand a network of around 250 service stations in and around Mexico City under the Total brand.
Dynea announces start-up of formaldehyde plant
LILLESTRØM, Norway — Dynea AS announced the successful commissioning and start-up of a formaldehyde plant using silver crystals as catalyst.
- Neste to invest over €400 MM in Porvoo refinery maintenance turnaround 6/30
- XRG acquires upstream stake in Vaca Muerta to support the Argentina LNG project 6/29
- Baker Hughes extends long-term service agreement with Nigeria LNG to support critical expansion project 6/29
- Technip Energies, Alterra and Neste launch Nerea, a standardized modular solution for plastic chemical recycling 6/29
- KBR technology selected for 100,000-tpy ethanol-to-jet SAF plant in Singapore 6/29
- Acelen to license Alfa Laval's HVO pre-treatment technology for Brazilian biorefinery 6/29
