Fluitec, a world leader in industrial lubricants and hydraulic fluid technology, is celebrating their 25th anniversary with a new strategic rebranding.   The clean image blends an invigorating appeal of both shape and style, but more importantly, it embodies Fluitec’s refreshed philosophy as it positions to meet the challenges and opportunities for the next decade. The […]

Shell announced that it will not proceed with an equity interest in the proposed Lake Charles LNG project given current market conditions.  “This decision is consistent with the initiatives we announced last week to preserve cash and reinforce the resilience of our business,” said Maarten Wetselaar, director, Integrated Gas and New Energies, Shell. “Whilst we […]

Chevron Corporation, one of the world’s leading integrated energy companies headquartered in San Ramon, California, U.S.A., announced yesterday that it is reducing capital spending by 20% to USD16 billion, in response to today’s challenging market conditions. “With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to […]

Patrick Pouyanné, chairman and CEO of Total, addressed the French energy group’s employees on 19 March to mobilize them in the face of the challenges ahead. He recalled the resilience that the group’s teams demonstrated during the 2015-16 oil crisis as well as the two pillars of the group’s strategy which are the organic pre-dividend […]

ExxonMobil, one of the largest publicly traded international energy companies, is looking to significantly reduce spending as a result of market conditions caused by the novel coronavirus (COVID-19) pandemic and commodity price decreases, the company said yesterday. “Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce capital and operating expenses […]

GP Global announced the expansion of the group’s bunkering portfolio with the launch of its new bunkering operation in the port of Jebel Ali. Jebel Ali Port, operated by DP World, contributes more than 26% to Dubai’s gross domestic product (GDP) and along with Jebel Ali Free Zone (JAFZA) provides AED151 billion (USD41.1 billion) or […]

ZF Friedrichshafen AG and the Wolong Electric Group Co., Ltd. have officially signed off on their joint venture. The partners will develop and produce electric motors and electric components for various vehicle applications at the Chinese Shenyang location, among others, working under the name “Wolong ZF Automotive E-Motors Co. Ltd.”. Volume production is slated to […]

Nynas AB has applied for an extension of the company reorganisation for another three months. The reorganisation process will continue while the Södertörn’s District Court is considering the decision, which is expected to be announced next week.  On 13 December 2019 Nynas filed for company reorganisation at the District Court. Nynas loans were not extended […]

LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, announced on 5 March that it has signed definitive agreements to expand in China through a 50-50 joint venture with the Liaoning Bora Enterprise Group (Bora). On 5 September 2019, LyondellBasell and Bora first signed a Memorandum of Understanding and announced their […]

Equilon Enterprises LLC d/b/a Shell Oil Products U.S. (Shell), a subsidiary of Royal Dutch Shell plc, announced it is marketing two of its refineries in the United States: Mobile, Alabama, and Puget Sound, Washington state. Mobile lies near the U.S. Gulf Coast at the north end of Mobile Bay in Alabama. The Puget Sound refinery […]