China flexes oil refining muscle, upping pain for Asian rivals

China flexes oil refining muscle, upping pain for Asian rivals
SINGAPORE/BEIJING (Reuters) – China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. FILE PHOTO: China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp refinery is seen in Dalian, Liaoning province, China January 22, 2019. REUTERS/Stringer... Read More

Oil gains amid assessment of China virus impact, possible OPEC supply cuts

Oil gains amid assessment of China virus impact, possible OPEC supply cuts
TOKYO (Reuters) – Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day rout on talk that OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S. stockpiles also helped steady prices. FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris,... Read More

Oil rises as investors take stock of economic hit from virus

Oil rises as investors take stock of economic hit from virus
FILE PHOTO: An oil pump is seen just after sunset outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann TOKYO (Reuters) – Oil prices rose for a second day on Wednesday, standing on firmer ground after a five-day fall on talk OPEC could extend oil cuts if a new coronavirus hurts demand, while data showing a decline in U.S.... Read More

Lordstown Motors pursuing $200 million U.S. retooling loan, will show EV truck at Detroit show: CEO

Lordstown Motors pursuing $200 million U.S. retooling loan, will show EV truck at Detroit show: CEO
WASHINGTON (Reuters) – Electric pickup truck start-up Lordstown Motors is pursuing a $200 million loan from a U.S. Energy Department program to retool a former General Motors (GM.N) factory in northeast Ohio, Chief Executive Steve Burns told Reuters. FILE PHOTO: A sign welcomes visitors to the General Motors Lordstown Complex, assembly plant in Warren, Ohio, U.S., November 26, 2018. REUTERS/Alan... Read More

Oil edges up as stock markets rebound after virus-related selloff

Oil edges up as stock markets rebound after virus-related selloff
NEW YORK (Reuters) – Oil futures edged up on Tuesday after falling for five days, gaining support from a rebound in Wall Street stocks and talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. FILE PHOTO: FILE PHOTO: Grandpuits oil refinery southeast of Paris, France, February 29, 2016. REUTERS/Christian Hartmann/File... Read More

Crude prices bounce up with U.S. stock markets after virus-related selloff

Crude prices bounce up with U.S. stock markets after virus-related selloff
NEW YORK (Reuters) – Oil futures edged up on Tuesday after falling for five days, bouncing up with Wall Street, and crude also drew support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. FILE PHOTO: FILE PHOTO: Grandpuits oil refinery southeast of Paris, France, February 29, 2016. REUTERS/Christian... Read More

Adidas to launch new fabrics from recycled ocean plastic, polyester

Adidas to launch new fabrics from recycled ocean plastic, polyester
BERLIN (Reuters) – Adidas will launch new fabrics made from recycled polyester and marine plastic waste and expand the product lines that use them after the success of shoes made with the Parley for the Oceans initiative, the sportswear firm said on Tuesday. FILE PHOTO: The Adidas logo is pictured during celebrations for German sports apparel maker Adidas’ 70th anniversary... Read More

At Exxon, CEO’s promised turnaround sapped by chemicals, refining

At Exxon, CEO’s promised turnaround sapped by chemicals, refining
HOUSTON (Reuters) – At Exxon Mobil Corp, CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining. FILE PHOTO: Darren Woods, chairman & CEO of Exxon Mobil Corporation, attends a news conference at the New York Stock Exchange (NYSE) in New York,... Read More

Sainsbury’s targets 2040 for net zero emissions, criticizes UK goal

Sainsbury’s targets 2040 for net zero emissions, criticizes UK goal
LONDON (Reuters) – Sainsbury’s (SBRY.L) committed itself on Tuesday to have net zero greenhouse gas emissions by 2040, a decade ahead of the British government’s own target which it said “isn’t soon enough”. FILE PHOTO: Signage for Sainsbury’s is seen at a branch of the supermarket in London, Britain, January 8, 2020. REUTERS/Toby Melville/File Photo Britons have become increasingly aware... Read More