Page 5 - Repi Refining News Today

Most stock markets in the Gulf ended higher on Tuesday ahead of a widely expected pause in interest rate hikes by the U.S. Federal Reserve, while falling crude prices weighed on investor sentiment.

Canadian Defence Minister Anita Anand said on Saturday that the country's critical infrastructure was increasingly being targeted by cyberattacks, posing a significant threat to the economy of the world's fourth-largest crude oil producer.

Russia's Black Sea port of Taman is poised to suspend exports of highly-explosive liquefied petroleum gas (LPG) because of concerns linked to drone attacks, three sources with knowledge of the situation told Reuters on Friday.

Nigeria's main labour union said on Friday it plans to go on strike from Wednesday to protest against a tripling of fuel prices in what would be the first big test for new President Bola Tinubu after he scrapped a costly fuel subsidy.

Brazilian state-run oil company Petrobras said on Thursday its board of directors had approved a revision of part of its 2023-2028 strategic plan in a bid to increase investments in low-carbon initiatives.

Exxon Mobil Corp. said on Wednesday it signed with U.S. steel maker Nucor Corporation a carbon capture and sequestration (CCS) contract, its first from a hard to abate industry.

Major stock markets in the Gulf rose in early trade on Thursday, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism.

Trinidad and Tobago is requesting the U.S. government amend the terms of a license authorizing the joint development of a promising offshore gas field with Venezuela, the Caribbean nation's energy minister said on Thursday.

Exxon Mobil Chief Executive Darren Woods said on Thursday that he aims to double the amount of oil produced from the company's U.S. shale holdings over a five-year period using new technologies.

The days of carefree plastic use may soon be over. Even though the world is suffocating in polluting waste, sales of fresh polymers are projected to rise 40% to $529 billion by 2031. This may change if supporters of taxes and other restrictive measures prevail at ongoing talks for a global treaty to end plastic pollution by 2040. Drastic action would shrink a promising market for Big Oil and cut packaging firms’ margins.