Chemical industry news · Three minutes a day
Sunday, November 1, 2026
Lead Story
Norwegian Firm Has $100 Million at Stake in Mercuria’s Baltic Exchange CaseHunter Group ASA disputes $100 million in unpaid charter fees with Mercuria Energy Group over the TD3C oil tanker rate index following Iran war disruptions. The London court ruling impacts billions in global shipping contracts and derivatives.
China's anti-graft agency is investigating Fu Chengyu, former chairman of Sinopec Group and China National Offshore Oil Corporation, for suspected serious violations of discipline and law. The veteran oil industry executive left Sinopec in 2015 upon reaching retirement age.
Lotte Fine Chemical reported an 18.5% Q3 revenue rise to 525.3 billion won, but profits dropped 14% due to lower global prices for caustic soda and epichlorohydrin. Cellulose ether sales for food and pharma applications also declined.
Ukraine struck Russian oil refineries including Bashneft, impacting over 470,000 barrels daily capacity, while Russia attacked Ukrainian power grids in retaliation.
India’s largest power producer NTPC reported a 14% profit jump driven by El Niño-induced heat boosting electricity demand. Coal-fired generation surged 13% as weaker monsoons reduced hydro output, increasing reliance on thermal power.
Sasol has commenced beneficial operations at its restarted paraffin plant in Italy, lifting force majeure on key feedstocks such as DETAL LAB and LAS. This action restores supply reliability for downstream cleaning product manufacturers amidst tightening global n-paraffin availability.
Shell CEO confirms deep discussions on selling its US chemical portfolio, potentially valued at $8 billion, as bidders including ExxonMobil express interest. The move follows positive Q3 earnings despite narrowed global chemical margins.
Following a nationwide reassessment, China reported sharp increases in strategic mineral reserves, including a 200% rise in rhenium and new zircon deposits to reduce import reliance. The project evaluated 17 minerals across 1,800 mines involving nearly 2,000 personnel.
Olin Corp reported Q3 adjusted EBITDA of $191 million, beating estimates as chlor-alkali and vinyls gains offset epoxy weakness. Forecasts indicate Q4 EBITDA of $80-$100 million amidst rising feedstock costs and planned price increases.
BP's underlying replacement cost profit quadrupled to $8.46bn as Middle East conflicts boosted refining margins. The firm intends to use excess cash to settle Deepwater Horizon liabilities and divest North Sea assets.
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