Chemical industry news · Three minutes a day
Saturday, October 31, 2026
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Reliance Industries Beats Profit Estimates on Strong Refining and Jio ListingReliance Industries reported a 41% surge in net income, beating estimates due to high diesel refining margins and strong telecom performance from its newly listed unit Jio Platforms. Its market value surpassed Tata Group following the blockbuster IPO.
ExxonMobil announced a $100 billion capital expenditure plan through 2030 to augment global energy supplies amid record quarterly profits. CEO Darren Woods emphasized the necessity of continued investment to address fuel supply shortages driven by geopolitical conflicts.
ExxonMobil increased its stake in Mozambique's Rovuma LNG project to 50% through a swap with Eni, targeting a final investment decision by year-end despite regional security challenges.
Chevron Corp. maintains its timeline to supply natural gas for a Microsoft data center in West Texas, aiming for first power in 2028 despite Governor Abbott’s permit suspension. CFO Eimear Bonner confirmed that permitting and financing remain on track.
Cameroon's Sonara signed a fuel supply deal with Nigeria's Dangote Group and MRS Oil to secure stable petroleum imports following its 2019 refinery damage, aiming to mitigate rising costs amid Middle East conflicts.
Appian Capital Advisory is in talks with the EBRD for critical minerals funds, following a $1 billion IFC joint venture. The firm aims to deploy $5 billion to $7 billion globally within 24 months, focusing on mining and processing assets.
Copper prices declined on the London Metal Exchange amid tech sell-offs and rising oil prices, while a Rio Tinto mine incident added to supply concerns. Industrial metals faced mixed performance as global growth worries impacted risk appetite.
BP CEO Meg O'Neill firmly rejected rumors of a company breakup after reports suggested board members favored splitting the group. She reaffirmed the strategic imperative of maintaining BP as an integrated oil and gas company.
US chocolate sales fell $33.1 million during early Halloween weeks due to cost pressures and health trends favoring low-sugar options. Manufacturers like Hershey and Mondelez face volume challenges as cocoa prices drop, adapting through product reformulation.
North American Blue Energy Partners faces significant hurdles including debt and infrastructure repairs in its ambitious Venezuela oil deal, casting doubt on President Trump's projected production targets.
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