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Chinese oil and gas company PetroChina plans to increase the capacity for the production of chemical products of its Liaoyang Petrochemical plant, which mainly processes Russian oil. According to Reuters, this was announced by plant's director, Bai Xuefeng, during the annual parliamentary congress of the PRC. Plant management is changing its strategy, reducing fuel production and shifting the focus to expanding chemical production capacity. It is planned that by the end of 2025, this plant will produce 1 million tons of ethylene per year, and the volume of aromatics produced will increase from 1 million to 2 million tons.
Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. ...
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
Berkshire Hathaway Inc.’s (BRK.A, BRK.B) Chief Executive Officer Warren Buffett announced on Monday that its energy unit agreed to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. (D.N) ...
Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside ...
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