Economics
PetroChina profit boosted by stronger gas sales and fuel demand
China's top energy producer PetroChina posted a 4.7% rise in first-quarter net income helped by growth in natural gas and a recovery in fuel demand.
thyssenkrupp Uhde completes EnviNOx project for Dyno Nobel in Australia
thyssenkrupp Uhde and Dyno Nobel have successfully completed the nitrous oxide abatement project in Moranbah, Australia with the successful commissioning of thyssenkrupp Uhde’s highly effective EnviNOx technology to reduce greenhouse gas emissions at Dyno Nobel’s nitric acid plant in Moranbah, Australia.
India receives fuel oil cargo in Russian SCF tanker after brief halt
A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot discharged fuel oil at a western Indian port indicating a resumption in the use of SCF vessels to supply Moscow's key market after a brief halt.
Biden administration (U.S.) to release SAF tax credit model
The Biden administration (U.S.) is expected to release a climate model for its SAF subsidy program, two sources familiar with the matter said.
S-Oil expects Q2 refining margins to remain steady then trend upward
South Korea's S-Oil forecast that second-quarter refining margins will be steady, supported by regular maintenance in the region, then trend upward in tandem with higher demand as the summer season gets underway.
Optimization for the trigeneration of industrial waste
Many corporations are moving toward sustainable operations for their processes. One alternative pathway to reduce fossil fuels consumption in a processing plant is through harvesting waste heat from industrial waste through combined heat and power (CHP), or what is commonly known as cogeneration or polygeneration.
Business Trends: Global chemicals industry outlook for 2024
After a challenging end to 2022, many in the chemical industry anticipated a modest rebound in production in 2023. However, by mid-2023, several chemical companies significantly lowered their expectations.
Vitol to charter supertankers from U.S. to Nigeria's Dangote refinery
Commodities trader Vitol has agreed to charter two supertankers to deliver crude oil to Nigeria's giant Dangote refinery from the U.S. in May, according to a shipping source and fixtures data.
Refiner Valero beats profit estimates on resilient demand, tight supplies
Refiner Valero Energy beat first-quarter profit estimates, benefiting from sustained demand as supplies remained tight due to disruptions in Russia and maintenance work at U.S. refineries.
Diamond Green Diesel approves a SAF project at Port Arthur, Texas (U.S.)
Valero Energy Corporation and Darling Ingredients Inc. announced that the companies have made the final investment decision on a SAF project at the DGD Port Arthur (U.S.) plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50/50 joint venture between Valero and Darling.
- Vertex Energy pauses renewable diesel output to switch back to fossil fuels, citing macroeconomic woes 5/10
- Citgo Petroleum reports Q1 profit of $410 MM 5/10
- Golden Pass LNG in discussions with contractor, may delay startup 5/10
- SAFFiRE Renewables biofuel pilot plant to be developed in Kansas 5/10
- EBRD backs Ukraine's green biofuels project with €60-MM loan 5/10
- Russia's refined oil product exports to Singapore to hit highest this year in May 5/10
