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COVID-19 - News digest as of 03.11.2020

November 03/2020

1. Indiian October gasoline, gasoil sales exceed pre-coronavirus levels

MOSCOW (MRC) -- India�s gasoil consumption in October rose 6.6% from a year earlier, the first such increase since COVID-19 restrictions were imposed in late March, preliminary data showed on Sunday, signaling a pick-up in industrial activity, reported Reuters. Diesel sales by the country"s three state fuel retailers totaled 6.17 million tons in October, according to provisional data compiled by Indian Oil Corp (IOC), the country"s biggest refiner and fuel retailer. Sales of gasoil, which account for about two-fifths of India�s fuel demand, rose 27.5% from September.

http://www.mrcplast.com/news-news_open-378785.html

2. Exxon presses Australia to release aid to oil refiners by January

MOSCOW (MRC) -- Exxon Mobil Corp is urging the Australian government to start releasing aid to the country"s oil refineries by January after a decision last week by BP plc to shut the nation"s biggest refinery, said Reuters. Exxon owns Australia�s oldest refinery at Altona near Melbourne, which can process 90,000 barrels per day of oil, the smallest of the nation�s four refineries. The site supplies about half of the fuel for the state of Victoria, which has been subject to one of the world�s longest and tightest coronavirus lockdowns.

http://www.mrcplast.com/news-news_open-378770.html

3. DSM reports results first nine months 2020

MOSCOW (MRC) -- DSM"s net profit fell in the third quarter amid significant negative foreign exchange effects, the Dutch life sciences and chemicals producer said. Adjusted EBITDA from continuing operations at its materials business fell by 31% year on year in the third quarter. "Trading conditions during Q3 were in line with expectations as communicated in August with the Q2 results," the company said. "Materials, whilst still impacted by COVID-19, showed an improving volume trend relative to the prior quarter, especially in September," it said. Trading conditions during Q3 were in line with expectations as communicated in August with the Q2 results. Nutrition performed well, despite a significant negative foreign exchange effect of minus 6%. Materials, whilst still impacted by COVID-19, showed an improving volume trend relative to the prior quarter, especially in September.

http://www.mrcplast.com/news-news_open-378805.html

4. Oil and gas EPC majors shift to cleaner energy

MOSCOW (MRC) -- Major oil and gas engineering, procurement, and construction (EPC) companies are increasingly shifting their strategies toward cleaner energy segments, according to Hydrocarbonprocessing. With a bleak investment outlook for the sector in the wake of COVID-19, now is seen as good a time as any for major oil and gas companies to make strategic shifts in energy transition, according to analysis by GlobalData. Major oil and gas EPCs, which have traditionally relied on projects within the oil and gas value chain and have had relatively little exposure to renewables, are now looking to renewables and other clean energy sectors for future growth.

http://www.mrcplast.com/news-news_open-378790.html


mrcplast.com
Author:Margaret Volkova
Tags:Europe, crude and gaz condensate, petrochemistry, DSM, Exxon Mobil, Indian Oil Corp, COVID-19, Australia, India, USA.
Category:General News
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