Category: Oil & Petrochemicals
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BASF Teams Up with China’s Highsun to Rescue European Nylon
BASF and Chinese caprolactam giant Highsun explore a 50:50 joint venture combining their European polyamide 6 businesses to cut costs.
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EU Waste Shipment System Disrupts European Recycling Industry
European recyclers warn that DIWASS technical failures threaten waste shipments, urging the European Commission to postpone implementation requirements until July 2027.
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Struggling UK Chemical Factories Plead for £1bn Help
UK chemical makers seek a £1bn Autumn Budget programme to unlock £3bn of private investment as 2026 output slumps 2.4%.
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Geopolitics Adds $20 a Barrel to Oil, Fund Manager Says
Gallo Partners’ CIO says Middle East uncertainty has added roughly $20 a barrel to oil, as prices slip 2% Monday.
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ENI and the Brindisi Fiasco
How do you sell a petrochemical cracker after shutting down the industrial ecosystem that makes it valuable? ENI’s restructuring in southern Italy raises serious questions about corporate management, financial transparency and the future of an entire manufacturing cluster.
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India Targets $1 Trillion Chemicals Industry by 2040
India targets a $1 trillion chemicals industry by 2040, investing in chemical parks, infrastructure and manufacturing to accelerate industrial growth.
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Syria Could Become a Major Player in Middle East Oil and Gas
Syria attracts international energy investment, seeking to revive oil production and become a strategic alternative to the Strait of Hormuz.
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Trump Furious Over Ukrainian Strikes on Russian Oil Refineries
Trump condemns Ukrainian strikes on Russian refineries, warning of rising fuel prices as tensions with Zelensky threaten American military support.
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Alaska LNG Project Rocked by Alleged Secret Russian Financing
Senior executives quit a $25 billion Alaska LNG project amid allegations of secret Russian financing, raising concerns over US sanctions.
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China’s Petrochemical Expansion Challenges Europe’s Industrial Future
China’s competitive exports and Europe’s rising costs intensify industrial tensions, prompting Brussels to consider trade-defence measures to protect strategic manufacturing capacity.
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Kremlin Confirms US-Russia Talks Over Lukoil’s $22 Billion Assets
Washington and Moscow discuss Lukoil’s $22 billion foreign assets as US sanctions complicate potential acquisitions by international energy companies.
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Eni Doubles Profits, Raises Dividend and Share Buybacks
Eni doubles quarterly profits to €2.8 billion, announces €1.3 billion special dividend and raises share buybacks to €3.8 billion.
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EU Rejects Arctic Oil and Gas Despite Energy Crisis
The EU rejects Arctic oil and gas despite Europe’s energy crisis, while Norway expands drilling and Russia strengthens its presence.
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Trump Invokes Defense Production Act to Boost US Oil Production
Trump invokes the Defense Production Act to expand US oil production, strengthen energy infrastructure and safeguard national security through federal support.
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Rosneft Fears Long-Term Damage from Ukraine War
Rosneft faces mounting financial pressure as Ukrainian refinery attacks disrupt production, increase repair costs and threaten its long-term viability.
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China Faces Petrochemical Shortages as Prices Rise
China’s petrochemical inventories are shrinking amid feedstock shortages, driving up chemical prices despite continued industry overcapacity and uncertain future demand.
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Ukrainian Refinery Strikes: Is Someone Trading on Inside Information?
Are oil traders profiting from advance knowledge of Ukrainian refinery strikes?
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Trump’s Secret Venezuela Oil Deal Raises Questions
Trump’s controversial Venezuela oil deal reportedly grants extensive access to American investors, raising concerns about transparency, secrecy and potential beneficiaries.
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Gulf Oil Exports Surpass Prewar Levels Despite Iranian Attacks
Gulf oil exports exceed prewar levels despite Iranian attacks, reaching 24 million barrels daily, while soaring shipping costs sustain prices.
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UK Approves Long-Delayed Jackdaw Gas Field
Britain approves Jackdaw gas production, potentially boosting domestic supply by 6%, strengthening energy security and supporting hundreds of North Sea jobs.
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Trump Pushes for More Diesel as US Prices Top $6
Trump urges refiners to increase diesel production as US prices surpass $6 per gallon, but supply relief faces significant delays.
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Oil Prices Can Fall $38 in One Day
On March 9, 2026, WTI crude oil experienced a historic $38 intraday price swing, demonstrating how dramatically prices can fluctuate.
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France Is Burning, Macron Is Touring the Gulf
As France erupts in protests, Macron tours wealthy Gulf states seeking oil, leaving angry citizens questioning his priorities and leadership.
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UK Oil Industry Urges Government to Unlock New North Sea Projects
North Sea industry leaders urge the UK government to approve more drilling projects, potentially unlocking £50 billion in energy investment.
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Nigerian Unions Issue Ultimatum for Petrol Price Reduction
Nigeria’s labour unions demand lower petrol prices, threatening further action as fuel costs rise and household purchasing power deteriorates.
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Goldman Sachs Predicts Brent Oil at $80 in 2027
Goldman Sachs expects Brent crude to average $80 per barrel in 2027 as Middle Eastern oil supplies recover. The bank also raised its December 2026 forecast from $85 to $90, citing geopolitical risks. Higher production outside the Persian Gulf and weaker demand could create a global oil surplus. However, renewed regional conflict could keep prices…
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Oil Flows Through Strait of Hormuz Recover to 80%
Oil flows through Hormuz recover to 80% of pre-war levels, while Washington seeks additional diesel supplies to stabilize markets.
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China Reports Overnight Petrochemical Production Disruptions
Chinese chemical producers report plant outages and planned maintenance, raising concerns about supply disruptions across several important industrial chemical markets.
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Iran Offers to Reopen Strait of Hormuz Within Seven Days
Iran proposes reopening the Strait of Hormuz within seven days, provided Washington lifts restrictions and agrees to its conditions.
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TotalEnergies Declares Force Majeure on Polystyrene in France
TotalEnergies declares force majeure on polystyrene after an unexpected shutdown in France, raising concerns about European plastic supplies and prices.
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Türkiye Could Soon Announce New Oil Discovery at Gabar
Türkiye anticipates a new oil discovery at Gabar as exploration expands and the country seeks greater energy independence.
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Trump Allows India to Keep Buying Cheaper Russian Oil
Trump waives tariffs on Russian oil buyers, allowing India to maintain cheaper imports despite rising global crude prices and shipping costs.
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Brent Crude Could Reach $120
Brent crude could reach $120 as Iranian shipping attacks, Ukrainian refinery strikes and escalating geopolitical tensions threaten global oil supplies.
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Oil prices surge toward $110 a barrel
It’s going to be a cold and expensive winter in Europe Source https://en.mehrnews.com/news/248671/Oil-prices-surge-toward-110-a-barrel
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Could a Dollar Agreement Bring Brent Oil Down to $77?
Could a coordinated dollar agreement between the United States, Russia and Saudi Arabia strengthen the dollar, increase global oil supplies and help bring Brent crude down to $77 per barrel?
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Is the EU Buying Stolen Russian Gas from Ukraine?
Could Russian gas allegedly stolen from Ukrainian transit pipelines years ago have entered EU markets? Questions remain about ownership and transparency.
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IEA Says Ukrainian Attacks Cause Diesel Shortages
Ukrainian attacks on Russian refineries are worsening global diesel shortages, cutting fuel supplies and driving up costs for consumers worldwide.
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Ukrainian Military Allegedly Behind Nord Stream Pipeline Explosions
Personal Remarks We helped Ukraine, funded its war effort, and opened our doors to its refugees. And how are we repaid? With allegations that Ukrainians sabotaged the very pipelines supplying Europe with energy. The Nord Stream bombings amounted to an act of war against Germany. And the EU may have ended up financing those responsible?…
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Covestro to shut down Antwerp Activities
Covestro reportedly plans to reduce polycarbonate production capacity in Antwerp by 75%, highlighting mounting pressure on Europe’s plastics industry.
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Saudi Aramco comes to rescue of Europe
Saudi Aramco offers extra crude oil cargoes to European buyers, potentially boosting supply as energy markets face ongoing uncertainty.
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Operation 777: Bring Crude Oil Prices Down to $77 a Barrel by October 27
A call to oil industry executives and world leaders to lower energy prices, ease inflation, support consumers and make affordable energy a global priority.
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Oil Prices Fall Despite Attacks in the Strait of Hormuz
Oil prices fall despite Middle Eastern tensions as Washington considers easing tanker sanctions and increased production reduces global supply concerns.
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Trump Considers Easing Oil Tanker Sanctions as Prices Fall
Trump considers relaxing sanctions on oil tankers to ease shipping shortages, reduce transport costs and bring down global oil prices.
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Britain’s £47 Billion North Sea Oil Decision
Britain faces mounting pressure to approve major North Sea oil and gas projects amid investment uncertainty, environmental opposition and energy concerns.
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UAE Oil Production Hits Record High After Leaving OPEC
UAE oil production reaches record levels after leaving OPEC, despite regional conflict and ongoing disruptions to Middle Eastern shipping routes.
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Chevron and Egypt Near $4 Billion Gas Pipeline Deal
Chevron and Egypt advance a $4 billion pipeline project to transport Cypriot natural gas to international markets through Egyptian infrastructure.
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Trump Announces Massive Oil and Gas Exploration Plans in Greenland
Trump announces potential large-scale Greenland oil, gas and mineral exploration, but officials have not confirmed projects or drilling rights yet.
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Russian Plastics Processors Seek Government Support as Costs Rise
Russian polymer processors seek government support as weakening demand, rising costs and falling equipment investment put pressure on the domestic plastics industry.
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Dangote Refinery Reports $4.7 Billion Profit Ahead of Historic IPO
Nigeria’s Dangote Refinery reports $4.73 billion profit as it prepares Africa’s largest IPO, attracting investors amid strong fuel demand.
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Saudi Aramco’s Giant Petrochemical Complex in China Opens Soon
Saudi Aramco’s giant Chinese refinery and petrochemical complex approaches production, expanding crude processing and manufacturing capacity for plastics chemicals.
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IEA Warns Global Diesel Shortages Could Continue into 2027
The IEA warns diesel supplies may remain tight through 2027 as disrupted Russian and Middle Eastern exports drain inventories worldwide.
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Saudi Arabia Promises Stable Oil Exports
Saudi Arabia pledges uninterrupted oil exports despite Houthi missile attacks, as escalating regional tensions fuel uncertainty and global oil volatility.
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Bahrain Plans Major Plastics Chemicals Complex
Bahrain plans a new petrochemical complex producing paraxylene and benzene, key raw materials for plastics, polyester fibres and packaging.
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Plastic Prices Rise as European Buyers Hold Back
Description (20 words): European polystyrene and ABS producers are pushing through price increases amid higher feedstock costs, but weak demand limits buyers’ willingness to purchase.
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OPEC Slashes 2026 Oil Demand Growth Forecast by 71%
OPEC cuts its 2026 oil demand growth forecast by 71%, reflecting weaker consumption while expecting a recovery in 2027.
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Bahrain Plans Major Paraxylene and Benzene Complex
Bahrain plans a major petrochemical complex producing paraxylene and benzene, expanding its capacity to supply plastics and polyester manufacturers.
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Eni Sells Stakes in Indonesian Oil and Gas Projects
Eni sells stakes in Indonesian oil and gas projects to local companies, strengthening domestic ownership while maintaining its regional presence.
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Oil Prices Fall as Russian Diesel Returns to Global Markets
Oil prices decline as Russian diesel returns to global markets, potentially easing fuel shortages despite continuing Middle East supply risks.
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EU Criticises Trump’s Plan to Buy Russian Diesel
European leaders criticise Trump’s Russian diesel deal, warning it could weaken sanctions pressure on Moscow while questioning its impact on fuel prices.
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India’s ONGC Launches New Petrochemicals Trading Company
India’s ONGC launches a joint venture to streamline petrochemical trading, improve distribution and strengthen its position in the chemicals market.
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Oil Giants Pull Out of Saudi Energy Summit After Deadly Attacks
Major oil executives withdraw from Saudi energy summit following deadly Houthi attacks, raising concerns about security and regional stability.
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Trump Pushes Ukraine to Stop Attacking Russian Oil Refineries
Trump pressures Zelensky to stop bombing Russian refineries, hoping to lower fuel prices, but Russia has not accepted the ceasefire.
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US Benzene Prices Remain Uncertain
US benzene contract uncertainty is disrupting chemical markets, delaying purchases as buyers rely on inventories while awaiting clearer pricing agreements.
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Trump Provides Diesel Tax Relief for Truckers and Farmers
Trump temporarily permits highway use of dyed diesel and defers federal excise taxes, aiming to reduce fuel costs for farmers and truckers.
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Trump Asks Zelensky to Stop Sabotaging the Oil Market
Trump demands an end to Ukrainian strikes on Russian refineries, blaming them for rising diesel prices and threatening further consequences.
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Trump and Putin Strike Diesel Deal
Trump and Putin announce a landmark diesel deal, promising lower fuel prices, renewed cooperation and economic benefits for both nations.
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BASF Considers Bigger Bid for Evonik
BASF considers raising its €10.3 billion offer to acquire German rival Evonik, potentially reshaping Europe’s chemical industry amid growing competition.
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African Investors Struggle to Buy Shares in Dangote’s Refinery
Dangote’s refinery seeks $1.6 billion from investors, but fragmented African financial regulations make buying shares difficult across national borders.
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Shell Buys 30% Stake in Canadian Offshore Oil Project
Shell acquires 30% of Canada’s Bay du Nord offshore oil project, targeting production of up to 175,000 barrels daily by 2031.
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Carlyle Abandons $22 Billion Lukoil Deal
US investment firm Carlyle walks away from buying Russian oil giant Lukoil’s foreign assets as American sanctions complicate the sale.
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Trump’s $15 Billion Oil Pipeline Raises Conflict-of-Interest Questions
Trump’s Middle East envoy faces conflict-of-interest questions over financial ties to a company involved in a $15 billion oil pipeline.
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Oil Prices Fall Following Trump’s Statement on Iran
Oil prices fall after Trump eases fears of an attack on Iran, while Middle East tensions continue threatening global supplies.
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Shipping US Oil to China Has Become Too Expensive
American crude oil becomes increasingly unaffordable for Chinese refiners as soaring tanker costs threaten trade between the two countries.
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Saudi Arabia Expands Its Global Energy Empire Beyond Oil
Saudi Arabia expands its global energy influence through oil refineries, renewable energy projects and international investments, strengthening its economic power.
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Iraq Earns $5 Billion a Month from Oil Exports
Iraq generates up to $5 billion monthly from oil exports, maintaining strong revenues despite regional tensions and disruptions to production.
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Nigeria Announces 30-Day Fuel Price Discount
Nigeria announces a 30-day fuel discount through state-owned NNPC to ease rising petrol prices and provide temporary relief to consumers.
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Major OPEC producers are cutting crude oil prices
Major OPEC producers are cutting crude oil prices to win back customers, increasing competition and potentially pushing global prices down.
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EU Is Killing Its Own Petrochemical Industry
Europe’s petrochemical industry is collapsing as factory closures, expensive energy and foreign competition threaten millions of tonnes of production capacity.
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Shell Makes More Money as Fuel Prices Rise
Shell expects to make much more money from producing petrol and diesel as oil shortages push fuel prices higher worldwide.
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Iran Claims US Strikes Damaged 60 Petrochemical Facilities
Iran accuses Washington of damaging 111 industrial facilities, disrupting petrochemical and pharmaceutical production, and raising concerns over international chemical agreements.
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Is Dangote Part of a Cement Oligopoly in Nigeria?
Nigeria’s cement market is dominated by Dangote and two rivals, raising questions about competition, high prices and potential oligopolistic practices.
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ENI Caps Petrol and Diesel Prices to Charm Meloni
Eni caps petrol and diesel prices in Italy, raising questions over whether affordability policy also serves a political charm offensive.
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Big Oil Has Infiltrated the White House
How deep does Big Oil’s influence run in Washington? And how many revolving doors remain hidden behind the White House?
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Oil Companies Are Making a Historic Pricing Mistake
High gasoline and diesel prices risk angering US voters and creating political trouble for the oil industry ahead of November’s midterms.
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US States Move to Shield Oil Companies From Climate Lawsuits
Several US states are passing laws that could limit climate lawsuits against oil companies and increase legal risks for plaintiffs.
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Russia and China Expand Their Grip on the Arctic
Russia and China strengthen their Arctic presence as competition intensifies over shipping routes, energy resources, minerals and strategic infrastructure.
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Middle East Oil Flows Recover to 80% of Pre-War Levels
Middle East oil transport has recovered to 80% of pre-war levels, easing supply concerns while regional shipping risks remain.
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EU Circular Economy to Contaminate the Naphtha Supply Chain
Europe’s circular economy risks contaminating pure naphtha with dirty pyrolysis oil, potentially harming crackers, feedstock quality and petrochemical products.
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Global Polypropylene Prices: Winners and losers
America dominates as the ultimate winner while Europe suffers as the clear loser in the latest global polypropylene price evolution.
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South Korea Sends Fuel to help Russia
Russia is not importing crude oil from South Korea, but refined petroleum products. The imports followed Ukrainian strikes that disrupted Russian refinery capacity and tightened domestic fuel supply.
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EIA Raises Oil Price Forecast
EIA raises its oil price forecast as Middle East disruptions tighten global supplies, drain inventories and push Brent expectations higher.
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China Turns to Iraqi Oil as Iranian Supplies Collapse
Chinese refiners turn to Iraqi and Qatari crude as Iranian supplies fall sharply, tightening margins and reshaping Asia’s oil trade.
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World Burns Through Its Oil Safety Buffer
Global oil inventories are shrinking rapidly, leaving the market increasingly vulnerable to fresh supply disruptions, geopolitical shocks and refinery shortages.
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Aramco: Global Oil Inventories Could Take 2 Years to Recover
Aramco warns global crude and fuel inventories could take two years to recover as supply disruptions continue tightening energy markets.
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A Small Personal Favor to the Republic of Cyprus
I have a small personal favor to ask the Republic of Cyprus.
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Can Cyprus Play a Role in a US-Russia Oil Partnership?
A possible US-Russia Lukoil deal could create new strategic opportunities for Cyprus and Greece within the Eastern Mediterranean energy landscape.
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Trump: Ukraine Is Responsible for Expensive U.S. Fuel
Trump points the finger at Ukraine, blaming refinery attacks on Russia for pushing up fuel prices and inflation across energy markets.
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EU and Ukraine undermine efforts to normalise oil market
Ukraine says its strikes have affected facilities representing 51% of Russian refining capacity, disrupting operations and increasing pressure on fuel supplies.
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EU faces gas shortages
Gazprom warns Europe faces a difficult autumn-winter season as gas supply risks, storage levels and geopolitical uncertainty continue to weigh.
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Saudi Aramco Cuts Oil Prices
Saudi Aramco cuts Asian crude prices to a six-year low as regional oil flows recover and supply conditions improve.
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