ADNOC, the state oil company of UAE, has established an international investment arm XRG
ADNOC, the state-owned oil company of the United Arab Emirates, announced on Wednesday that it had launched XRG. This investment firm focuses on low-carbon energy sources and chemicals. It is valued at over $80 billion.
Shell's $6 billion profit beats expectations as LNG offsets a weak refining sector
Shell announced on Thursday that it had exceeded the forecasted profits for the third quarter by 12%. This was due to higher LNG sales, which offset lower oil refining results and weaker trading results.
Japan's JXTG to Spend $14B on Low-Carbon Transformation
JXTG Holdings Inc, Japan's biggest oil refiner, said on Wednesday it will spend 1.5 trillion yen ($14 billion) for the next three years to drive its transformation into a supplier of low-carbon energy and materials.The planned spending…
OMV Sees Hope for Oil Price Recovery in Second Half 2020
Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by increased fuel demand and output cuts by producers such as Saudi Arabia, its chief executive said.The…
BP Raises Asian Profile
BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China's Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday.
Cesarek Joins Gevo
Gevo, Inc. has announced the appointment of Tim Cesarek to the newly created position of Executive Vice President and Chief Commercial Officer. Cesarek brings over 20 years of knowledge and experience in strategic and commercial transactions…
Sanjeev Gupta to Buy US-based Steel Assets in 2018
British industrialist Sanjeev Gupta is in talks to purchase and build more U.S.-based steel and industrial assets next year, after buying ArcelorMittal's Georgetown Steelworks at the weekend. Gupta…
Francaise de l'Energie plans IPO
Coalbed methane gas exploration firm Francaise de l'Energie (FdE), which says it has gas reserves worth six years of French national yearly gas consumption, said in a statement it plans an initial public offer (IPO) of its shares.
Crowley Acquires Jones Act Tankers
Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA.
Braskem, Petrobras Naptha Deal Being Finalized
Brazilian petrochemical company Braskem SA said on Tuesday it was finalizing a short-term extension of its contract to buy naphtha from state-run oil company Petrobras, avoiding an interruption to operations.
ExxonMobil Announces Korean Gas Collaborations
ExxonMobil informs it has today signed a memorandum of understanding with the Korea Institute of Energy Technology Evaluation and Planning and the Korea Gas Corporation (KOGAS) to hold discussions…
Sinopec's Profit up at 32.5 billion yuan in 1H, 2014
Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%.
