Petrochemicals , Transactions

BASF Shareholders Say Russia Exit Sets Up Oil and Gas IPO

Though ruled out for now given the Russia-Ukraine war, BASF still plans to pursue IPO plans for Wintershall Dea.

January 19, 2023

Petrochemicals , Legislation

Russia Ramps Up Diesel Supplies to Turkey, Morocco Ahead EU Embargo

Russia has already supplied Turkey with approximately 450,000 tones of diesel since the beginning of the year.

January 18, 2023

Petrochemicals , Policy & Regulations , International

BASF Takes Huge Writedown as Wintershall Dea Exits Russia

According to Wintershall Dea, maintaining its Russian operations and business is "not tenable" given the political climate.

January 18, 2023

Petrochemicals , Natural Gas , Crude Oil , Policy & Regulations , International

Russia Sees Sanctions Impact on Oil Products, Eyes Crude Export Boost

Russia expects Western sanctions to have a significant impact on its oil products exports and therefore its production, but that will likely leave more crude oil to sell, a senior Russian source with detailed knowledge of the outlook told Reuters.

January 17, 2023

Investment , Petrochemicals , Transactions

QatarEnergy, Chevron Reveal $6 Billion Qatar Investment

QatarEnergy and an affiliate of U.S.-based Chevron announced an FID to construct the Ras Laffan Petrochemicals Complex, a $6 billion integrated olefins and polyethylene facility in Ras Laffan Industrial City. 

January 10, 2023

Petrochemicals , Legislation

US Senators Introduce API-Backed Bill to Expand E15 Gasoline Sales

While it is unknown if the bill to expand nationwide sales of E15, a gasoline with a higher blend of ethanol, has the support it needs to pass both the House and Senate to become law, the backing of the oil industry has lifted a notable political obstacle.

November 30, 2022

Petrochemicals , Crude Oil , Storage

US Crude Oil Inventories Fall as Fuel Stocks Build

The decline in U.S. crude oil inventories last week was tempered by another release of barrels from the country’s strategic petroleum reserve (SPR).

November 23, 2022

Investment , Petrochemicals , International

Saudi Aramco to Invest in $7 Billion Petchem Project in South Korea

"The Shaheen project will increase chemical yields while reducing operating costs, thus making it more competitive especially in a low-margin environment," a Refinitiv analyst said of Saudi Arabia's investment.

November 17, 2022

Business , Petrochemicals , Midstream

Shell Begins Operations at Polymers Plant in Pennsylvania

Shell's Pennsylvania-based polyethylene manufacturing plant will help accelerate its net-zero emissions targets while providing at least 600 jobs to the northeastern U.S. area.

November 16, 2022

Petrochemicals , Crude Oil , Storage

US Crude Stocks Down, Refining Runs Rise: EIA

Analysts remain concerned that the ongoing draw on crude oil is still due to releases from strategic stockpiles—and that inventories of distillate products are not building enough either.

November 2, 2022