Economics
U.S. could start buying oil for reserve after June sale, energy secretary says
U.S. Energy Secretary Jennifer Granholm told lawmakers her department could start repurchasing oil for the Strategic Petroleum Reserve after completing a congressionally mandated sale next month.
Oil falls 2% on weak U.S. and Chinese economic data
Oil prices fell about 2% to a one-week low as a political standoff over the U.S. debt ceiling stoked recession jitters in the world's biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed.
Alberta producers restart oil and gas operations as wildfires temporarily ease
A number of oil and gas companies in Canada's main crude-producing province Alberta restarted shuttered production as wildfires that sparked widespread evacuations eased, although officials warned conditions could deteriorate.
Emirates airline creates $200-MM aviation sustainability fund
Emirates airline said it had committed $200 MM to a research fund focusing on reducing the impact of fossil fuels in commercial aviation, because hitting net zero emissions targets would not be possible with currently available options.
China cuts second batch of 2023 fuel export quotas
China has decreased its second batch of export quota volumes for refined oil products, consultancies and trader sources said, focusing on local demand during the refinery overhaul season and boosting domestic sales amid poor export margins.
Iraq asks Turkey to resume northern oil export pipeline
Iraq has sent an official request to Turkey to restart oil export flows through a pipeline that runs from the semi-autonomous Kurdistan Region in northern Iraq to the Turkish port of Ceyhan.
Neste and PetroCard partner to expand access to renewable diesel in the Pacific Northwest
As part of its commitment to help businesses and cities reduce greenhouse gas emissions from the transportation sector effectively, Neste today announced a new partnership with PetroCard to grow the accessibility of Neste MY Renewable Diesel in the Pacific Northwest region of the United States.
Russia starts diesel exports to Chile
Russia has started diesel exports to Chile, expanding its oil products supplies to Latin America after a European Union embargo forced traders to find new outlets.
Congo in discussions with Uganda over use of crude pipeline
The Democratic Republic of Congo is in discussions with neighboring Uganda for possible use of the east African country's planned crude oil pipeline to export petroleum, Congo's hydrocarbons ministry said.
GAIL plans $4.9-B ethane cracker in West India
GAIL Ltd, the country's top gas supplier, plans to build a $4.89-B ethane cracker near its LNG import plant in Western India as it seeks to meet an expected surge in demand.
- Borouge reaffirms commitment to local manufacturing with new industry supply agreements 1/10
- Update: Turkey's Izmir refinery now expects to restart crude unit in Feb, IIR says 1/10
- Pertamina unit to produce ISCC-certified SAF in 1Q 1/10
- WTO panel largely backs EU in palm oil case against Indonesia 1/10
- Howard Energy Partners acquires ethylene pipeline from EPIC Midstream Holdings 1/10
- U.S. to impose further sanctions on Russian oil fleet and traders 1/10
