Saturday, May 23, 2026
Big Oil, investors face returns reckoning amid darkening economy - oil and gas 360

BP raises Asian profile with Chinese acetic acid plant plan

Source: Reuters LONDON (Reuters) – BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday. The planned production site for acetic acid, which is used in chemical products such as paints and adhesives,

https://www.chron.com/business/energy/article/The-late-Aubrey-McClendon-s-Permian-business-14544155.php?cmpid=ffcp-oag360

The late Aubrey McClendon’s Permian business merges with parent to avoid bankruptcy

Source: Houston Chronicle The Permian Basin business of the late shale pioneer Aubrey McClendon merged its assets with its parent company to avoid bankruptcy for now. Houston-based Permian Sable Resources said Friday it successfully merged its assets with its subsidiary American Energy – Permian Basin and paid almost $400 million in cash in a deal with creditors to cut back the

https://www.reuters.com/article/us-refinery-operations-phillips-66-baywa/odds-of-strike-rise-as-bayway-workers-phillips-66-hit-impasse-idUSKBN1WX1XK-oag360

Odds of strike rise as Bayway workers, Phillips 66 hit impasse

Source: Reuters (Reuters) – Negotiations between Phillips 66 and the Teamsters Local 877, which represents workers at its 285,000-bpd Bayway refinery in Linden, New Jersey, have broken down, according to two sources familiar with the discussions, raising the possibility of a work stoppage at the Northeast’s largest operational refinery. The two sides have been in discussions but have not yet

https://www.reuters.com/article/us-venezuela-pdvsa/venezuela-opposition-allies-to-sue-over-pdvsa-2020-bond-sources-idUSKBN1X71ML-oag360

Venezuelan Guaido’s team proposed 90-day truce to PDVSA bondholders: sources

Reuters: Venezuela’s opposition last week sent holders of state oil company PDVSA’s 2020 bond a proposal to suspend legal actions for 90 days, the latest maneuver to avoid losing U.S. refiner Citgo, three sources familiar with the talks said. The investors have not yet responded. The bond is backed by a 50.1% stake in Citgo, a PDVSA subsidiary, and the