China's coal region will expand coal to oil output as part of energy security drive
China's coal-producing region is planning to build China's largest 'base' for converting coal into oil and gas, chemicals, and other products to reduce the country's reliance on imported energy. The war with Iran has heightened China's focus on energy security.
Bloomberg News reports that Mitsui is looking to invest in LNG to meet the power needs of data centers.
Bloomberg News reported on Thursday that the CEO of Japanese trading house Mitsui was looking to invest in LNG projects in the Middle East, Australia, and even the U.S. to meet data center power demand. Hori, a Bloomberg News reporter…
European stocks remain steady, as gains in autos and chemicals offset the uncertainty surrounding Iran war
European shares closed little changed Wednesday, near the record levels set before the Iran War began. Gains in automobile and chemical stocks helped offset concerns about a conflict that could have a negative impact on the energy markets.
Occidental’s Hollub will step down, a rare woman in the US oil industry.
Occidental Petroleum announced on Friday that CEO Vicki Hollub - one of the'most prominent women' in the male dominated oil industry - would resign next month and hand the reins over to Richard Jackson, an insider. In March…
PetroChina's profit for the first quarter is up due to increased gas and fuel sales
PetroChina, Asia's biggest oil and -gas producer, announced a 1.9% increase in its first-quarter profit on Wednesday. The company cited a rise in sales of refined fuel and natural gas, as well as improved margins within the chemical and refining sector.
China and India make strategic investments in clean energy, which is not popular in the West
In the wind-swept grasslands in Inner Mongolia (northern China), towering white turbines are lining hilltops as sentinels, guarding a hydrogen industry Beijing wants to take away from coal. The project is part of the largest of its kind…
Zambia's copper-smelters are planning extended shutdowns to squeeze output and chemical supply
Two?industry? sources said that two of Zambia's biggest copper smelters and sulphuric acids producers would?shut down for extended maintenance this year. This will further squeeze copper output and supply of the chemical needed to process copper and coal.
Sources say that Congo copper and cobalt miners have reduced their chemical usage as the Iran war has disrupted supplies.
Sources with knowledge of the situation say that some key leaching chemicals have been withdrawn or cancelled by suppliers in Congo this month. This has forced'miners' to reduce their usage and look at reducing output as Middle East-related supply disruptions intensify.
Sheinbaum, Mexico's Sheinbaum, backtracks from his opposition to fracking and says that new methods are cleaner
The Mexican president Claudia Sheinbaum acknowledged on Thursday a change in her position?on hydraulic fracture, or fracking. She argued that new technologies made?the extraction technique less environmentally damaging.
EU Chemical Agency backs PFAS ban
The European 'Chemicals Agency' on Thursday recommended a wide EU-wide prohibition on PFAS or "forever chemicals" with some?"exemptions," as policymakers prepare legally binding limits on substances posing a health risk that lingers in the environment.
China's coal-chemicals sector reaps the benefits as Iran war crushes its petrochemical rivals
China's coal-to-chemicals stock has risen by up to 30% since the Iran War began, as the industry?capitalizes on its ability to?turn domestic coal into petroleum and?other chemicals without relying upon shipments through Strait of Hormuz.
Saudi Red Sea Oil Exports in March Rise to 3.8 Million bpd
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 million barrels per day (bpd) in March, shipping data showed on Wednesday, after the U.S.-Israeli war on Iran effectively…
China shares steady as energy and defence shares surge, offsetting airline losses; HK drops
China's benchmark equity indexes were not significantly changed Monday in the aftermath of a conflict with Iran. Increases in gold, energy and defence stocks offset declines in airline and tourism shares. The expectation…
Spain's Moeve joins forces with Masdar to launch a $1.2 billion green hydrogen project
Spanish energy company Moeve approved a major green hydrogen project that involves more than 1 billion euros ($1.2billion) in investment, with Abu Dhabi renewable energy company Masdar as a "minority" partner. Moeve announced…
SABIC, the Saudi chemical giant, will lose $6.9 billion in 2025 due to asset sales
SABIC, the Saudi chemical giant, reported on Wednesday that it would suffer a "massive" net loss by 2025. This was mainly because of impairments and losses relating to divestment assets in Europe and America. Chemicals industry is struggling with overcapacity.
US Chemical Safety Board blames Pemex for fatal 2024 accident
According to the 'U.S. Department of Homeland Security,' the lack of a standard identifier for idle equipment at Pemex Deer Park refinery in Texas led to a poison gas release that killed two workers. Chemical Safety and…
Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, leader of an opposition party in Japan, said that Japan should run all its nuclear?power stations to offset the impact the Iran war has had on electricity bills. Japan imports around 11% of liquefied gas and 95% of oil from the Middle East.
Aramco announces first buyback after announcing a drop in profit
Saudi Arabia's Aramco reported a 12% decline in annual profits due mainly to lower crude prices. However, it announced that up to $3 billion worth of shares would be repurchased in its first ever buyback. The buyback will take place over the next 18-months.
South Korea approves its first petrochemical restructured deal as glut of supply weighs
The South Korean industry ministry announced on Wednesday that it had 'approved' the first petrochemical sector restructuring project in the country. It offered a package of support worth over 2 trillion won ($1,39 billion)…
Vopak turns strong profits into $2 Billion in investor returns
Vopak, a tank storage company, announced on Wednesday that it will return 1.7 billion Euros ($2.0 billion) in dividends to shareholders over the course of the next five-year period. Profits surged by 61% on the back a strong cash flow last year.
