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Factbox-Global petrochemical firms shape up in oversupply crisis

Petrochemical producers in Europe and Asia face tough conditions; companies are consolidating and shutting down operations to survive amidst falling margins and rising energy costs.

investing.com • 09/08/2024 - 02:09 AM

Analysis-Survival of the fittest: Petrochemical makers battle global glut

Petrochemical producers in Europe and Asia face consolidation and weak margins due to oversupply and high costs, impacting global oil industry profits amid falling demand for transportation fuels.

investing.com • 09/08/2024 - 02:06 AM

Expanded Trans Mountain pipeline capacity fails to lift Canadian heavy oil price

TMX expansion was expected to reduce Canadian oil discounts but has widened them. Analysts blame competition, refinery outages, and weak demand, but optimism remains for future narrowing.

investing.com • 06/08/2024 - 10:02 AM

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US EPA issues fuel waiver for Midwest states hit by refinery outage

The EPA issued an emergency waiver for four Midwest states to counteract fuel shortages caused by a Joliet refinery shutdown, allowing the sale of cheaper, more volatile gasoline through August 20.

investing.com • 01/08/2024 - 16:42 PM

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US Democrats launch bill holding oil firms accountable for any work with OPEC

Democratic lawmakers proposed a bill to penalize energy companies colluding with OPEC, pushing for accountability amidst ongoing FTC investigations and emphasizing the need for consumer protection.

investing.com • 24/07/2024 - 17:39 PM

Analysis-US oilfield firms slash prices as mega-mergers shrink customer base

Mega-mergers in the oil industry are forcing service companies to cut prices or merge, leading to bankruptcies and reduced rig counts amidst a highly competitive market.

investing.com • 24/07/2024 - 14:28 PM

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Exclusive-ExxonMobil selling Malaysia oil and gas assets to Petronas, sources say

Exxon Mobil sells Malaysian oil and gas assets to Petronas, exiting upstream sector while continuing to produce significant energy in Malaysia.

investing.com • 19/07/2024 - 11:08 AM