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Petrochemicals
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