Germany Sets New LNG Import Terminals into Operation
Germany is putting natural gas import terminals into operation as part of the country's efforts to replace piped Russian gas following Moscow's invasion of Ukraine in 2022.It is deploying floating storage regasification units (FSRUs) to receive seaborne LNG, which official data shows has captured an 11% share of all German gas imports over the first three quarters of 2025.Long-term…
Saudi Aramco CEO: Saudi Aramco's maximum oil production capacity can be sustained for an entire year at 12 million barrels per day.
Saudi Aramco's Chief Executive Amin Nasser said that the company can maintain crude oil production of 12 million barrels a day (bpd), for an entire year, without incurring any additional costs. Saudi Arabia has a large share of the world’s spare oil supply – idle oil that can be quickly brought to market. Nasser, speaking at the Energy Intelligence Forum held in London…
Shell to suffer a $600m loss due to Rotterdam Biofuels Project Cancellation
Shell said Tuesday that it expects to take a $600-million hit from the abandonment of its Rotterdam biofuels project. However, it also noted higher production of liquefied gas and improved gas trading results. Shell approved the development of an 820,000 metric ton per year biofuels facility in 2021. However, construction was halted last year. It was then scrapped completely last month due to its lack of competitiveness.
Germany launches a 6 billion euro industrial decarbonisation programme, including CCS technology
Katherina Reiche, German Economy Minister, announced a funding initiative of 6 billion euros ($7 billion), aimed at decarbonising industrial processes. This is the first time that CCS technology has been incorporated into climate protection contracts in the country. The program targets sectors that are energy-intensive, such as steel, glass, chemicals, and cement…
OMV reduces investment targets and cuts back on spending for renewables until 2030
Austria's OMV announced on Monday that it would cut sustainable investments, and reduce its target for organic capital expenditures yearly by 1 billion euro ($1.2 billion). This was also to reflect Borealis' deconsolidation following a merger. The group has set a new organic capital spending goal of 2.8 billion euro per year. This is down from its previous projections of 3.8 billion euro.
Wall Street Journal, October 3,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. - A multibillion-dollar deal to send Nvidia's artificial-intelligence chips to the United Arab Emirates is stuck in neutral nearly five months after it was signed, frustrating CEO Jensen Huang and some senior administration officials.
Occidental CEO: Chemical divestiture to improve core oil and gas business
CEO Vicki Hollub said in an interview with the Associated Press on Thursday that Occidental Petroleum would be better positioned to invest in the core oil and natural gas business following the divestiture of a chemical unit. The company will also be able replace the cash flow lost from the division within two and a quarter years. Occidental shares fell more…
Occidental reduces debt by selling Berkshire's chemicals unit for $9.7 billion
Occidental Petroleum announced on Thursday that it will sell OxyChem, its chemicals division, to Warren Buffett’s Berkshire Hathaway, for $9.7 Billion. This is the largest divestment to date to reduce debt following years of expensive acquisitions. The deal would be Berkshire's largest since the $11.6 billion acquisition of Alleghany Corporation by Berkshire in 2022. It would also expand the chemical portfolio of Berkshire beyond Lubrizol.
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations…
Russell: The Big Three Asian thermal coal producers look healthy while others are pale
Asia dominates global thermal coal markets, but the future looks increasingly divided between the robust domestic markets of the three heavyweights China, India and Indonesia as well as a slowly fading seaborne industry. In recent years, the three countries have increased their coal production rapidly to meet the rising demand for energy. Outside of these three nations…
China uses solar panels to fight desert sands
In the arid north of China, workers trim goji berry plants that are spread out under the protection of thousands of solar panel. The solar panel facility of 1 gigawatt in Ningxia, a region in northwest China, is part of an extensive network that uses the shade and bulk of the panels to reverse desertification. Vice-chairperson Liu Yuanguan of Ningxia Baofeng said that the company…
German LNG Terminals Seek to Replace Russian Gas Pipelines
Germany is putting into operation natural gas import terminals as part of efforts to replace piped Russian gas following Moscow's invasion of Ukraine in 2022.Its first move has been to deploy floating storage regasification units (FSRUs) to receive seaborne LNG, while long-term it is planning shore-based facilities to import and produce ammonia and green hydrogen.Here are details of the latest developments:MUKRANThe terminal on Ruegen island
ADNOC sells stakes in listed companies to XRG, the international arm of ADNOC
Abu Dhabi National Oil Company announced on Thursday that it had transferred its shares in a number of its listed subsidiaries, to XRG International Investments, its international investment division for which it has ambitious plans for growth. The state-owned oil giant stated that the transfers of stakes, which include ADNOC Distribution and ADNOC Drilling as well as ADNOC Gas and ADNOC Logistics & Services will not impact the operations…
Sources: Swiss gold refining plans add sparkle to Trump's trade deal
Two people with knowledge of the situation say that Switzerland wants to build a gold refinery or increase its processing capacity in the United States as part a plan to lower U.S. tariffs. Donald Trump imposed 39% tariffs on Swiss imports as a result of the U.S.-Swiss trade deficit on August 7, 2018. Switzerland had scrapped its industrial tariffs in January.
ExxonMobil is considering selling European chemical plants to FT, reports
The Financial Times reported that ExxonMobil was looking to sell its European chemical plants located in the UK, and Belgium, as the industry struggles with the impact of U.S. Tariffs and the competition from China. In recent weeks, the U.S. energy company has been in early discussions with advisors about possible sales that could bring up to $1 billion. The newspaper cited two sources.
Executives warn that US tariffs are worsening challenges for the petrochemical sector.
TotalEnergies' executive said that U.S. Tariffs could cause a 15% decline in global petrochemicals trade. This was revealed at the APPEC Conference in Singapore, held on Tuesday. Ganesh Gopalakrishnan's, TotalEnergies head of petrochemicals, said on the sidelines APPEC that if tariffs are kept in place the petrochemicals trade will drop another 15% on top of the previous 34% decline it has experienced in the last five year.
Technip Energys purchases Ecovyst’s Advanced Materials & Catalysts for $556 Million
Technip Energies, a French energy infrastructure firm, announced on Thursday that it had reached an agreement to purchase the Advanced Materials & Catalysts division of U.S. chemicals group Ecovyst for $556m. The shares rose over 4% at first trading. The agreement will see the company, which specializes in technology for energy, acquire two entities, Advanced Silicas and Zeolyst International…
German chemical lobby VCI reports quarterly sales and production decline amid tariff uncertainty
The German chemical industry association reported on Wednesday that the second-quarter production, sales and prices had declined, citing uncertainty regarding U.S. tariff policies. VCI said that pull-forward effects on business with the United States decreased throughout the period of April-June, because exports were brought forward to prepare for tariffs on European goods.
Shell cancels plans to build a biofuels plant in Rotterdam
Shell announced on Wednesday that it will not continue construction of the biofuels plant at its Shell Energy and Chemicals Park Rotterdam, after an extensive evaluation revealed that it was not competitive. Construction of the project was suspended in July 2024 because of weak market conditions. Shell approved in September 2021 the development of the facility to produce 820,000 tons per year, and planned to bring it on line in 2025.
VCI: German chemical industry runs at its lowest capacity for more than 30 Years
The German Chemical Industry Association said Wednesday that its capacity utilization in the second quarter was at its lowest level for more than 30 year as sales and prices fell due to uncertainty surrounding U.S. Tariffs. VCI reported that the German chemical industry only operated at 72% of full capacity in the period April-June, which is the lowest level seen since 1991 and far below the level needed to break even.