Americas

Total spending on fuel subsidies topped $7 T in 2022, IMF says

Global subsidies for fossil fuels rose by $2 T over the past two years to reach a record $7 T in 2022, according to new estimates from the International Monetary Fund.

U.S. expands sanctions on Myanamar jet fuel, cites junta airstrikes

The United States expanded its sanctions against Myanmar to include foreign companies or individuals helping the country’s military junta to procure jet fuel that it uses to launch airstrikes on its own people, the U.S. Treasury Department said in a statement.

Oil down 1% as weak U.S. gasoline demand offsets big draw in crude stocks

Oil prices were down 1% as a build in US gasoline stocks fed worries about demand after Japan and Europe posted gloomy manufacturing data.

Shell taps Goldman Sachs to explore Singapore refinery and petchem plant sale

Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter.

Oil slides on grim manufacturing data

Oil prices slid almost 2% as gloomy global manufacturing data grabbed attention ahead of an annual meeting of central bankers at Jackson Hole in the United States, with interest rates high on the agenda.

U.S. DOE funds Gulf Coast-focused direct air capture hub feasibility study

Brazil government pushes Congress to approve 'green' bills before COP28

Iranian oil cargo seized by US begins unloading after long delay

Brazil's Unigel restarts fertilizer plant to boost domestic supply

Unigel, the largest Brazilian manufacturer of nitrogen fertilizers, announced the resumption of activities at a unit called Unigel Agro Sergipe, which produces urea and ammonia.

Shell, Pemex face fines for Texas chemical plant fire in May

Shell Plc and Pemex each could face more than $1 MM in fines over a Deer Park, Texas, chemical plant fire in May under a lawsuit filed by the state's attorney general.