Economics
IEA lowers forecast for oil demand growth in 2024
The International Energy Agency said demand growth for oil next year will be slower than previously forecast, citing lackluster macroeconomic conditions, post-pandemic recovery running out of steam and burgeoning use of electric vehicles.
Brazil's Petrobras does not intend to sell Braskem stake
Brazilian state-run oil company Petrobras is not planning to sell its 36% stake in petrochemical firm Braskem.
Mubadala bets on ethanol, not sugar, with new Brazil cane investment
Abu Dhabi investment fund Mubadala Capital will take an opposite direction from most of its peers in the Brazilian sugar and ethanol industry, which it plans to enter by early next year, betting on expanding output of the biofuel and looking only marginally to sugar.
New Canadian clean electricity rules would allow some use of fossil fuels
Canada announced long-awaited draft clean electricity regulations that are designed to create a net-zero emissions power grid by 2035, and said some continued use of fossil fuels would be allowed.
Cuban oil tankers becoming regular visitors to Mexican ports
Cuba has begun using its own tankers to ramp up crude imports from Mexico, which in the second quarter surpassed Russia as a key oil provider to the fuel-thirsty island, according to vessel monitoring data.
Singapore's middle distillates stockpiles steady; imports rise
Singapore's middle distillates stockpiles were little changed as an uptick in weekly imports for both gasoil and jet fuel/kerosene capped drawdowns.
Most Russian fuel exports now pricing above G7-imposed price cap
Most Russian fuel exports from the Baltic and Black Sea regions are now pricing above a price cap set in February by a G7-led coalition designed to limit Moscow's revenues in the aftermath of its invasion of Ukraine.
Boeing says Brazil could be top SAF player
Brazil has the potential to become one of the major global players in SA), a Boeing executive said, as the sector attempts to meet its ambitious goal of reaching net-zero carbon emissions by 2050.
China crude oil demand slips by 18.8% in July
Oil prices hit new peaks with global benchmark Brent crude hitting its highest since January after a steep drawdown in U.S. fuel stockpiles helped offset some concerns of weaker demand from China.
Sarens replaces E451 heat exchanger at Hengyuan Refinery's oil plant in Port Dickson, Malaysia
Sarens has participated in the renovation and upgrading of the Hengyuan Refinery oil plant facilities by replacing the E451 heat exchanger with a new unit.
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