Economics
EIA: U.S. jet fuel production rises after prices doubled in March
Higher crude oil prices and supply concerns, particularly in Europe and Asia, which previously imported much of their jet fuel supply from the Persian Gulf, have driven up jet fuel prices.
Indian companies willing to deepen presence in Venezuela
New Delhi was the second-largest importer of Venezuelan oil in May, with purchases of 427,000 bpd.
DNV announces financial close of $650-MM H2 fertilizer project in Paraguay
The $650-MM project is one of the world's first industrial-scale green fertilizer plants to be financed in a non-recourse basis, a standalone, asset-backed financing structure where lenders look only to the project itself for repayment.
JM to acquire Cormetech, materially enhancing scale in clean air solutions
Under the terms of the transaction, JM will acquire Cormetech for an enterprise value of $360 MM payable in cash on completion, which represents a 10.3x acquisition multiple based on Cormetech's expected 2026 EBITDA.
U.S. gasoline market set for fresh test after near-record stock draws
U.S. gasoline prices have already jumped by 50% to close to four-year highs since the U.S. and Israeli war against Iran began on February 28, and currently average around $4.33 per gallon.
China's crude oil imports slump, but it's economics not altruism
The collapse in China's imports is being framed in media and market commentary as helping Asia adjust to the loss of at least 10 MMbpd of crude from the effective closure of the Strait of Hormuz.
- OXEA confirms final investment decision for major capacity expansion at plant 7/10
- TotalEnergies ships to Asia the first cargo produced by the ECA LNG plant 7/10
- ADNOC L&S expands LNG fleet with order for four new carriers 7/10
- India's ONGC plans to build 13-MMbbl national strategic oil reserve 7/10
- Russian refineries, oil terminal, tankers hit, Ukraine says 7/10
- Tajikistan says it has 60 days' fuel in reserve amid Russian supply crunch 7/10
