SLB tops quarterly profit estimate, plans $4 billion shareholder returns
SLB beat Wall Street expectations for the fourth-quarter profits on Friday as the world's largest?oilfield service provider benefited from ChampionX acquisition and announced?plans? to return $4 billion in profit to shareholders this year. The company acquired ChampionX for $7.75 billion in all-stocks last July. This acquisition added production chemicals and artificial lifting technologies to the company's portfolio.
Ambani's Reliance missed profit forecast due to higher expenses and oil and gas drag
Mukesh Ambani, the Indian billionaire who owns Reliance Industries, missed its quarterly profit estimates on Friday due to higher expenses and a weak performance in its oil and natural gas segment. The unit's performance has been affected by lower output and softer prices realized from its KG D6 fields in Andhra Pradesh. These are a major source of gas for the domestic market.
What excites and concerns LNG exporters by 2026? Maguire
In 2025, the LNG industry will make history after exports and production of super-chilled fuel broke records and generated billions in revenue across the global supply chain. Gas sellers were encouraged by the 25% increase in LNG purchases in Europe. This was an important development and raised expectations that gas consumption in countries like Germany, Italy and United Kingdom will continue to grow in 2026.
What excites and concerns LNG exporters by 2026? Maguire
In 2025, the LNG industry will make history after the production and exports of super-chilled fuel broke records and generated billions in revenue across the global supply chain of liquefied gas. The 25% increase in LNG purchases in Europe was a major highlight. This gave gas sellers hope that gas consumption in countries like Germany, Italy and the United Kingdom will continue to grow in 2026.
UAE's ADNOC weighs Venezuela gas investment, Bloomberg News reports
Bloomberg News, citing sources familiar with the situation, reported that the?state oil company of Abu Dhabi, ADNOC, is considering entering Venezuela's energy industry. It could also seek a partnership to participate in Venezuela's gas projects with?another? international producer. Could not verify the report immediately. XRG, ADNOC’s international investment arm, set up?inlate 2024, declined comment.
Minister says South Korea's petrochemical companies are on track to reduce their output by up to 3.7 million tons.
South Korea's petrochemical companies are on course to reduce up to 3.7 metric tons of production under a voluntary program to overhaul the oversupplied industry and improve flagging profits margins, said the?industry? minister on Monday. Kim Jung-kwan, Minister of Industry, said that 16 companies including major naphtha producers had submitted blueprints before the year-end deadline, as requested by the authorities.
State researcher: China's oil demand will plateau in 2030.
A research group affiliated with the state 'oil'major CNPC announced on Thursday that China's oil consumption will?plateau? between 2025 and 2030 as electric vehicles reduce the demand for gasoline and Diesel. Haibo Wang is the director of oil?market?research for CNPC Economics & Technology Research Institute. She said that most of China's additional demand for oil came from jet -fuel and petrochemicals.
VCI Germany expects the chemical industry to stagnate by 2026
VCI, the German chemicals lobby group, expects sales and orders to stagnate in 2019. This is due to high regulatory uncertainty, uncompetitive manufacturing costs and a long approval process. The ?association, which represents around 2,300 companies, said revenues in the chemical-pharmaceutical industry fell 1% to 220 billion euros ($256.26 billion) in 2025.
Germany's VCI predicts a "difficult road" and a stagnant chemical industry in 2026
VCI, the German chemicals lobby, expects that orders and sales will stagnate by 2026 due to high regulatory uncertainty, uncompetitive?production costs, and slow approval process. The ?association, which represents around 1,900 companies, said revenues in the chemical-pharmaceutical industry fell 1% to 220 billion euros ($256.26 billion) in 2025. The German chemicals industry…
Cobalt hydroxide, a key component in EV batteries, has seen its price rise due to export restrictions from Congo
Sources in the industry said that prices of cobalt hydrxide, which is used to make chemicals for electric vehicles batteries, have increased sharply this past year due to cobalt export limitations from the top producer Democratic Republic of Congo. Congo suspended cobalt exports from February to October. The goal was to increase state revenue and tighten up oversight.
Serra Verde cancels China offtake deal after being approached by Western firms
Serra Verde, a Brazilian rare earths mining company, has reduced the contract durations of its Chinese processing agreements, allowing it to potentially supply Western companies once their separation capacity is available in the coming years. China is the largest supplier of rare earths in the world, and 90% of it is processed. This makes it vital to electronics, defence, electric vehicles, wind turbines and other industries.
Sources say Exxon will permanently close one steam cracker plant in Singapore by March.
Four sources familiar with the situation said that ExxonMobil will cease operations in March at the older steam cracker on Singapore's Jurong Island. This is part of the global trend of the petrochemicals industry to reduce capacity due to losses. Two sources stated that the shutdown of the plant which was opened in 2002 is expected to be completed by June.
Abu Dhabi Oil and Gas Group plans to invest $150 billion in 2026-2030
ADNOC, the state-owned oil company of Abu Dhabi, announced on Monday that it plans to invest $150 billion between 2026 and 2030 in order to maintain current operations, grow and meet global demand for energy. The board of directors of the company welcomed its increased oil reserves, which now total 120 billion stock-tank barrels (stb), compared to 113 billion stb.
China's first coal-to-chemicals project with green hydrogen begins commercial operations
According to a report by state-run CCTV, China's first project for coal-to chemicals that integrates green hydrogen began commercial operations on Friday. Cao Guoan, station manager at CCTV, said that the project, operated by state-owned energy producer Datang Group is expected to produce 70,59 million cubic meters of hydrogen per year. He didn't say how…
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components…
India's green hydro ambitions falter on demand uncertainty
India's green-hydrogen ambitions are slipping due to the slow commissioning of projects, which is largely driven by insufficient infrastructure and unclear demand signals. This was stated by a U.S. energy think tank on Friday. The Institute for Energy Economics and Financial Analysis stated in a note that despite strong investor interest, 94 percent of the planned green hydrogen capacity of the country is still at the announcement phase.
Aster reduces diesel production at Singapore Bukom refinery sources say
Three sources familiar with the situation said that Singapore's Aster Energy and Chemicals has reduced diesel production at its Bukom Refinery this month. This is driving up premiums for 10ppm low sulphur diesel. Aster has reduced operations at its hydrocracker and hydrodesulphurisation units amid a lack of hydrogen supply from its reformer unit, they said.
VCI, the German chemicals lobby, says that despite a weak third quarter, there is no sign of a turnaround for the sector.
VCI, the industry lobby, said that Germany's chemical sector saw a drop in production, sales, and prices during the third quarter. The industry is still under pressure due to overcapacity and high operating costs, as well as a challenging economic climate. German Chemicals Association reported that quarterly production in the chemical industry including pharmaceuticals fell by 1.5%, while producer prices dropped by 0.6%.
Analysis finds that China's CO2 emission hasn't increased in 18 months.
Carbon Brief's analysis found that China's carbon dioxide emission was flat on an annual basis in the third quarter. This extends a streak of 18 months with flat or declining emissions. Lauri Myllyvirta, of the Centre for Research on Energy and Clean Air in Helsinki, said that the trend started in March 2024 and could mean CO2 emissions will fall this year if there is no year-end spike.
Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact
Record-breaking 239,709 attendees from 172 countries gathered at ADIPEC 2025, reaffirming UAE’s convening power and its role as a global hub for energy, partnerships and innovation. ADIPEC 2025 generated an estimated US$400 million in economic benefits for Abu Dhabi’s economy, particularly across the hospitality, tourism and transport sectors. Expanded AI Zone and dedicated industry areas showcased the role of AI…