Economics
China stored massive volume of crude oil in May, giving it options
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.
Funds rotate positions from crude oil to distillates
Portfolio investors are rotating positions from crude oil to middle distillates – anticipating that the low level of distillate inventories will keep prices relatively firm even if the global economy and petroleum consumption slow.
EU parliament set to accept renewables deal with assurances on ammonia plants
European Union lawmakers plan to accept changes made by countries last week to the bloc's renewable energy law, to give assurances to France and others on potentially exempting ammonia plants, the parliament's lead negotiator said.
Former F1 boss racing to create ‘guilt free’ fuel
Formula One is seen as one of the most gas guzzling of sports but one top engineer and former F1 team boss Paddy Lowe is seeking to change this with the launch of a so-called guilt-free synthetic fuel.
France's Macron vows to boost sustainable aviation fuel production
France will invest $218.78 MM to boost the production of sustainable aviation fuels (SAF) as part of measures to make the French and the European aviation industry greener, President Emmanuel Macron said.
Russia can meet domestic gasoline demand, energy minister says
Russia's energy minister Nikolai Shulginov said that there was enough gasoline to meet Russian domestic demand, downplaying the possibility of restrictions on exporting the fuel.
Russia's June seaborne diesel exports rise amid growing output
Russia's seaborne diesel and gasoil exports are set to rise in June amid growing oil products output after refinery overhauls and sufficient stocks on the domestic market, data from traders and Refinitiv Eikon showed.
Iran's oil exports hit 5-year highs as U.S. holds nuclear talks
Iran's crude exports and oil output have hit new highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source familiar with the matter, adding to global supply when other producers are limiting output.
Kuwait's KPC sees good oil demand from China in H2
Kuwait Petroleum Corporation sees continued good demand for oil from China in the second half of the year, its chief executive said, speaking to Reuters as part of a podcast series hosted by the Al Attiyah Foundation.
China’s first helicopter flight using sustainable aviation fuel
An Airbus H125 helicopter belonging to State Grid Space Technology Co., Ltd has successfully used SAF for a flight demonstration at Hefei Shiwan Airport in China.
- thyssenkrupp Uhde completes pre-FEED for HAMR Energy’s renewable fuels project in Australia 8/21
- Europe distillates-diesel profit margins firm 8/21
- U.S.: Indiana's bp refinery restarts after severe flooding 8/21
- Berlin weighs trusteeship extension for Rosneft's German assets 8/21
- Trump administration to rule on biofuel exemption requests, delay reallocation decision 8/21
- TotalEnergies' Donges refinery fire extinguished 8/21
