Economics
Nigeria to block oil export permits for producers who do not fill refinery quotas
Nigeria's upstream oil regulator said on Monday it would deny export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries, including the Dangote Refinery, Africa's largest.
Analysis: Trump's oil tariffs a boost for European and Asian refiners
U.S. President Donald Trump's trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants said.
E-Fuel producer INERATEC receives €70-MM commitment from EIB and Breakthrough Energy Catalyst
The European Investment Bank (EIB) and Breakthrough Energy Catalyst have committed a €70-MM funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-Fuel company.
Russia's Lukoil eyes $2 B from Bulgaria refinery sale
Russia's second-largest oil producer Lukoil plans to raise around $2 B from the sale of its Burgas oil refinery in Bulgaria.
IEA comes under pressure from former oil market chief to cut energy transition focus
The International Energy Agency's former oil industry and market chief criticized the agency's focus on the global energy transition in a report released on Wednesday, and said the IEA should concentrate on oil and gas supplies.
Emerson to acquire remaining outstanding shares of AspenTech
Emerson will acquire all outstanding shares of common stock of AspenTech not already owned by Emerson for $265/share pursuant to an all-cash tender offer. The transaction values the minority stake being acquired at $7.2 B, and values the total company at a fully diluted market capitalization of $17 B with an enterprise value of $16.8 B.
Bahri, Petredec partner to meet Saudi Arabia’s growing LPG and ammonia shipping needs
Bahri (The National Shipping Company of Saudi Arabia) and Petredec have agreed to form a strategic partnership aimed at addressing Saudi Arabia’s increasing LPG and ammonia shipping demands.
Lyondell begins shuttering Houston refinery (U.S.) for permanent closure
Chemicals maker LyondellBasell Industries began shuttering its 263,776-bpd Houston refinery on Monday for permanent closure. The shutdown is expected to be completed by early February.
Russia oil sanctions create different winners at different times
The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.
Radix, Celanese, Cognite partner to develop JO.AI, a groundbreaking generative AI-powered solution
Radix and Celanese will collaborate with Cognite on the development of JO.AI, a groundbreaking generative AI-powered solution designed to revolutionize operations in asset-intensive industries.
- Braskem Siam partners with Mitr Phol Bio Fuel to use ethanol to produce bio-ethylene/polyethylene 3/21
- Wison Engineering signs FEED contract with WasteFuel for Ankara Green Methanol project in Turkey 3/21
- U.S. slaps Iran-related sanctions on oil tankers, China 'teapot' refinery 3/21
- Regulations needed to spur airlines to use SAF, Japan oil refiners group head says 3/21
- Russia replaces UAE as the top naphtha supplier to India in 2024–25 3/21
- Asia's sour crude demand to rebound on completed regional refinery maintenance and upgrades 3/20
