Economics
U.S. EPA to remove proposed EV volumes from biofuel blending rule
The Biden administration will abandon a proposal to include the electric vehicle industry in the U.S. biofuel blending program and withdraw potentially billions of dollars worth of tradable credits that had been attributed to the scheme.
BASF increases alkoxylates production capacity in Europe
BASF is gradually bringing additional alkoxylation capacity on stream in Antwerp, Belgium, and Ludwigshafen, Germany, from the second quarter of 2023.
Russia's Sakhalin invites India and China to tap energy resources
The local governor of Russia's Pacific island of Sakhalin has invited companies from India and China to tap the region's energy resources following the departure of European and American oil and gas majors.
Airlines urge co-operation to help curb emissions
Airlines called for co-operation on a broad front to reach "very tough" emission targets and pledged at the end of a three-day summit to release interim climate targets next year.
Oil prices steady as economic fears offset Saudi output cut
Oil prices were little changed after erasing earlier losses as worries over sluggish global economic growth that could reduce energy demand offset Saudi Arabia's pledge to deepen output cuts.
U.S. diesel demand is falling despite economic growth
U.S. diesel demand will drop through 2024 despite growing economic activity, extending a recent break from tradition where demand for the freight fuel grows with GDP, the Energy Information Administration forecast.
Kazakhstan’s oil output drops 3% in May vs April to 1.55 million bpd
Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day, Reuters calculations based on data from two sources familiar with preliminary data showed.
Saudi Arabia's 'icing on the cake' oil cut could feed U.S. producers
Saudi Arabia has crafted a complex OPEC+ deal with a view to punishing investors that have bet on falling oil prices but could inadvertently lend long-term support to the rival U.S. energy industry, OPEC+ insiders and market watchers said.
Ports in China's oil hub Shandong scrutinizing old tankers
Ports in China's Shandong province are demanding more detailed information about oil tankers that are more than 15 years old that call at their terminals potentially delaying the unloading of crude shipments in the world's biggest oil importer.
Russia fully enforces its oil output cuts
Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel following a meeting of the OPEC+ group of leading oil producers.
- Digital Feature (sponsored): Three questions oil and gas companies should ask to improve their operations risk management 3/6
- Nextchem awarded engineering/technology services contract from SATORP (Saudi Arabia) 3/6
- PBF Energy's Martinez refinery (California, U.S.) repairs to cost $30 million 3/6
- Lummus Technology, Resynergi announce commercialization of microwave-powered plastic pyrolysis technology 3/6
- Mercedes-AMG Petronas to use sustainable carbon fiber composites in Formula 1 racecars 3/6
- Vopak to build ethane tanks to support Thailand's petrochemical production 3/6
