Positive Industry News and Events
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Shell Raises Shareholder Returns and Doubles Down on LNG at Capital Markets Day 2025
Shell unveiled a strategic shift during its Capital Markets Day 2025, reinforcing its commitment to shareholder value and its position in the liquefied natural gas (LNG) market. The company announced an increase in shareholder distributions from 30-40% to 40-50% of cash flow from operations, prioritizing share buybacks while maintaining its progressive 4% annual dividend growth… More
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U.S. Court Recommends $3.7 Billion Bid as Starting Offer in Citgo Auction
A U.S. court officer has recommended that a $3.7 billion offer by an affiliate of Contrarian Funds serve as the minimum bid in the ongoing auction of shares in PDV Holding, the parent company of Venezuela-owned Citgo Petroleum. According to an article published by Reuters, the special master overseeing the auction believes the offer, made… More
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Phillips 66 Issues Letter to Shareholders
Confirms Elliott Investment Management’s Nomination of Director Candidates HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) (the “Company”) today issued the following letter to its shareholders. The Company values shareholder feedback and is fully committed to continuing open engagement with all shareholders. This has been consistently demonstrated and expressed over the course of nearly two dozen meetings with Elliott… More
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ExxonMobil Advances Low-Carbon Ammonia in Baytown, Texas
ExxonMobil is making significant strides in low-carbon energy solutions with its planned low-carbon ammonia facility in Baytown, Texas. This initiative is particularly crucial for industries facing challenges such as limited access to renewables, space constraints, or geology unsuitable for carbon capture and storage. With ammonia’s versatility in power generation, the company is addressing the increasing… More
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BASF signs long-term agreement with Braven Environmental for supply of advanced recycled feedstock
Supply of pyrolysis oil is an important step in the commercialization of BASF ChemCycling project in North America Pyrolysis oil from mixed plastic waste will partly replace fossil feedstock Braven to supply PyChem from a future site in Texas HOUSTON, TX, MARCH 11, 2025 – BASF Corporation and Braven Environmental, a market leader in advanced… More
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$1.7Billion ACQUISITION: Mitsui O.S.K. Lines, Ltd. acquires 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A.
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced its decision to acquire 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. (LBC; Group CEO: Frank Erkelens, Headquarters: Rotterdam , Note 1), one of the world’s largest independent tank terminal operators primarily handling and storing chemicals in… More
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LyondellBasell approves propylene expansion project
Houston, March 03, 2025 (GLOBE NEWSWIRE) — LyondellBasell (NYSE: LYB) today announced an investment to expand propylene production capacity at its Channelview Complex near Houston. Groundbreaking and construction are expected to begin in the third quarter of 2025, with a projected startup in late 2028. The unit will have an annual propylene production capacity of approximately… More
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$10Billion+ O&G Investment: BP Unveils Strategic Reset to Drive Shareholder Value
BP has announced a major strategic reset aimed at increasing shareholder value through a fundamental reallocation of capital and enhanced performance measures. This shift marks a renewed focus on strengthening BP’s core businesses, optimizing investments, and ensuring sustainable long-term growth. According to a press release published this Wednesday (26th), the company’s revised strategy includes a… More
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Chevron Could Pursue Phillips 66’s Stake in Chevron Phillips Chemical Joint Venture
Chevron has expressed interest in purchasing Phillips 66’s stake in their chemicals joint venture, Chevron Phillips Chemical, according to a report by Bloomberg. While no formal discussions have taken place, Chevron sees petrochemicals as a strategic growth area and could pursue the deal if Phillips 66 is open to selling. The potential transaction follows pressure… More
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