Economics
Wholesale California gasoline prices plunge, consumers still pay up
Wholesale gasoline in California became the cheapest in the country this week, but that change has largely gone unseen at the pump, where consumers still pay the highest prices in the continental United States to fill up their cars.
Oil rally to resume later this year, demand to offset glut
Oil analysts still expect a rise in the crude price this year, thanks to improving demand growth that should help offset any bearish headwinds from a stubborn supply surplus.
Brazil's Petrobras in talks to sell petrochemical assets to Mexico's Alpek
Petrobras is in exclusive talks for 60 days with Mexico's Alpek over the potential sale of PetroquimicaSuape and Citepe assets in Brazil's northeast.
Oil steadies just above three-month lows on oversupply
Oil prices steadied just above three-month lows as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened.
Oil falls towards $44, lowest since May, on glut worries
Oil hit its lowest since May, falling towards $44/bl, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply.
Refiner Valero's profit beats but margins stay under pressure
US refiner Valero Energy Corp. reported a quarterly profit that beat analysts' reduced estimates, even as the company's refining margin continued to be gutted by a spike in gasoline and distillate inventories.
As market sours, ships carrying LPG anchor off Singapore
After a flood of US exports into the region, the Asian market is awash with LPG and supplies are being stored in ships anchored off Singapore.
Daimler Mercedes-Benz's cleaner technology in European diesel, gasoline engines
Daimler said it will spend €3 B ($3.35 B) to curtail diesel exhaust pollution levels by modifying its engines and exhaust treatment systems.
Gazprom sees record 2016 gas exports to Europe
Russia's Gazprom plans to export a record 165 Bcm of gas to Europe this year, as falling gas prices have made its gas more attractive to European consumers.
Egypt's new refinery will cut fuel import bill
Egyptian investment firm Qalaa Holdings is confident its new refinery will cut the country's dependence on crucial oil product imports. The $3.7-B Egyptian Refining Co. will have the capacity to produce 4.2 metric MMtpy of refined products
- Allied Biofuels signs PIA with Uzbekistan to advance $6-B biofuels refinery project 4/10
- Nufarm strengthens strategic collaboration to support long term growth in biofuels production 4/10
- HAMR Energy’s nationally significant fuel projects selected for Australian Government’s Investor Front Door Pilot 4/10
- India permits Iranian oil tankers to berth for Reliance 4/10
- TotalEnergies says SATORP refinery in Saudi Arabia damaged after incidents 4/10
- Australia, Singapore leaders pledge closer energy ties to tackle global supply shock 4/10
