Economics
Bumpy road ahead for U.S. gasoline demand and energy transition
While U.S. gasoline demand is unlikely to rescale the pre-pandemic peaks of 2018 as the energy transition accelerates, the pace of its decline is uncertain, illustrating the challenge for industry and the government in planning the shift to a low-carbon economy.
Russia may limit number of oil product exporters
Russia is considering limiting the number of companies allowed to export oil products in a bid to curb illegal exports of fuel intended for the domestic market, the Energy Ministry said.
U.S. to spend $700 MM for oil and gas sector to cut methane emissions
The U.S. government will provide up to $700 MM in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies said.
U.S. fuel maker profits to fall from last year's records
U.S. refining profits are expected to fall from last year's records but remain strong as domestic refining outages and increased foreign competition pose challenges.
Canada releases framework to phase out inefficient fossil fuel subsidies
Canada released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalize and phase out government support for the sector.
G20 bloc fails to reach agreement on cutting fossil fuels
The Group of 20 (G20) major economies meeting in India failed to reach consensus on phasing down fossil fuels following objections by some producer nations.
Chinese petchem firms betting big on energy transition products
Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies.
ECARU, Qalaa Holdings, and Axens to study second-gen biofuel and SAF production project
ECARU, Qalaa Holdings, and Axens, signed a cooperation protocol to carry out technical and economic studies for a project of second-generation biofuel and SAF production.
Venezuela will not halt productive oil operations amid contract disputes
Venezuela is not willing to halt productive operations during contract audits that have led to the arrest of businessmen and officials, and to disputes with customers and partners of state company PDVSA.
U.S. Senate backs measure barring oil sales to China from SPR
The U.S. Senate overwhelmingly passed an amendment to an annual defense bill that would ban exports to China of oil from the Strategic Petroleum Reserve.
- SkyNRG starts construction on its first SAF plant in Delfzijl, the Netherlands 2/13
- India's Reliance wins U.S. license for Venezuelan oil 2/13
- Singapore light distillates stocks hit over 3-yr high on robust imports 2/13
- Three contractors injured at ExxonMobil facility in Beaumont, Texas (U.S.) 2/13
- China's epic renewables boom lifts it into rare clean capacity club 2/13
- TotalEnergies booked loss in France due to refining activities, CEO says 2/13
