U.S., European thirst for fuel sends physical oil prices soaring
By Noah Browning and Alex Lawler LONDON – Sky-high refining margins for diesel and gasoline in Europe and the United States, driven by a cutoff …
oil
Every Time Biden Drained Strategic Oil Reserves, Prices Ended Up Higher. Here’s The Proof
Every Time Biden Drained Strategic Oil Reserves, Prices Ended Up Higher. Here’s The Proof Thomas Catenacci on May 29, 2022 President Joe Biden has raided …
Republican States Fight Back Against Biden’s Stealth Attacks On Oil, Gas Industry
Republican States Fight Back Against Biden’s Stealth Attacks On Oil, Gas Industry Thomas Catenacci on May 27, 2022 A group of 21 Republican attorneys general …
Nigeria finance minister: low oil output barely enough to cover petrol imports
By Dan Burns DAVOS, Switzerland – Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil …
CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices?
CRUDE FLIP-FLOP: Biden’s Energy Sec Now Open To Oil Ban, But Will It Actually Lower Gas Prices? Thomas Catenacci on May 25, 2022 The Biden …
Oil snaps inverse dollar link leaving little to check its bull run
By Ahmad Ghaddar and Saikat Chatterjee LONDON – Oil’s bull run is taking little notice of the strong U.S. dollar, breaking crude’s historical inverse link …
Saudi foreign minister does not expect immediate global oil shortage
DAVOS, Switzerland – Saudi Arabia does not expect an immediate shortage of oil and only a certain shortage of oil products, the country’s foreign minister …
Cargoes of Russia’s flagship crude oil at sea climb to record high
HOUSTON – Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics …
Indonesia has no plan to reduce palm oil in biodiesel mix – minister
By Divya Chowdhury DAVOS, Switzerland – Indonesia has no plans to reduce the percentage of palm oil in biodiesel below its current level of 30% …
Biden Might Not Have To Beg Venezuela’s Dictator For Oil If He Kept Keystone XL
Biden Might Not Have To Beg Venezuela’s Dictator For Oil If He Kept Keystone XL Thomas Catenacci on May 22, 2022 President Joe Biden may …
Biden May Not Hold Any Offshore Oil And Gas Leases Until The End Of His Term, Industry Group Says
Biden May Not Hold Any Offshore Oil And Gas Leases Until The End Of His Term, Industry Group Says Thomas Catenacci on May 20, 2022 …
Bethlehem Police Investigating Illegal Oil Dump in City Sewers
BETHLEHEM, PA- The Lower Saucon Fire and Rescue team responded to mitigate an oil spill reported early on Friday morning. “Unknown suspects intentionally dumped several …
China’s April Saudi oil imports soar 38% on yr, Russian oil up 4%
By Chen Aizhu (Reuters) – China’s crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest …
Biden Admin Quietly Admits Math Error Is Causing Massive Oil, Gas Permitting Delays
Biden Admin Quietly Admits Math Error Is Causing Massive Oil, Gas Permitting Delays Thomas Catenacci on May 19, 2022 UPDATE: This article has been updated …
Indonesia to lift palm oil export ban from Monday -president
JAKARTA – Indonesia will lift its palm oil export ban from Monday, May 23, following improvements in the domestic cooking oil supply situation, President Joko …
U.S imports of Latam oil soar as refiners replace Russian barrels
By Arathy Somasekhar HOUSTON – U.S. refiners imported about 1.3 million barrels per day (bpd) of crude and fuel oil from Latin America in April, …
Biden Turns To Venezuelan Dictator For Oil After Canceling US Lease Sales
Biden Turns To Venezuelan Dictator For Oil After Canceling US Lease Sales Thomas Catenacci on May 17, 2022 The Biden administration is expected to soon …
Slovak finance minister sets up battle with proposed tax on Russian oil processing
(Reuters) – Slovak Finance Minister Igor Matovic said on Tuesday he would propose a special tax on Russian crude processed in the country, clashing with …
Why Indonesia’s palm oil export ban has not cooled cooking oil prices
By Bernadette Christina and Fransiska Nangoy (Reuters) – Indonesia, the world’s biggest palm oil exporter, has since April 28 halted shipments of the edible oil …
Russian oil output up 1.7% month on month in May so far, Interfax reports
(Reuters) – Russian oil and gas condensate average output has increased by around 1.7% month on month to 1.4 million tonnes per day (10.25 million …
China’s April oil refinery output plunges to two-year low as COVID curbs bite
BEIJING – China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as …
Indonesia seizes cooking oil shipment bound for East Timor
JAKARTA – Indonesia has impounded at least 81,000 litres of cooking oil bound for East Timor, the trade ministry said, as the Southeast Asian country …
From the Maldives to Venezuela: how Iran gets oil to an ally
By Marianna Parraga HOUSTON – A Venezuela-owned tanker in March sailed to a remote spot in the Indian Ocean and met an Iran-flagged vessel, took …
Biden Cancels More Oil And Gas Leases As Fuel Prices Skyrocket
Biden Cancels More Oil And Gas Leases As Fuel Prices Skyrocket Thomas Catenacci on May 12, 2022 The Biden administration canceled all three remaining offshore …
Canada banks face ‘greenwashing’ claims as oil & gas firms obtain sustainable financing
By Nichola Saminather TORONTO – For banks in Canada, one of the world’s largest oil producers, it’s not easy being green. In the past two …
Europe refiners benefit from U.S. emergency oil stock releases
By Arathy Somasekhar and Stephanie Kelly HOUSTON – At least three vessels carrying crude oil from U.S. emergency stockpiles sailed for Europe in April as …
Hungary says its backing of EU’s Russia oil ban hinges on hundreds of millions of dollars
By Krisztina Than and Marek Strzelecki BUDAPEST -Hungary upped the stakes in talks about European Union oil sanctions on Wednesday, saying a deal was out …
Indonesia’s flip-flops give Malaysia edge in top palm oil market India
By Rajendra Jadhav and Mei Mei Chu MUMBAI/KUALA LUMPUR – Indonesia’s “unpredictable” palm oil export policies may help Malaysia emerge as the dominant supplier to …
Hungary digs heels in over EU embargo on Russian oil
By Gabriela Baczynska BRUSSELS – The European Union’s executive is looking to support Hungary in beefing up the eastern European state’s oil pipelines, storage and …
Exclusive-U.S. asked Brazil’s Petrobras if it could raise oil output; it said no -sources
By Gabriel Stargardter, Gram Slattery and Rodrigo Viga Gaier RIO DE JANEIRO – U.S. government officials in March asked Brazil’s state-run oil company Petrobras whether …
Japan to take time phasing out Russian oil imports, says PM Kishida
TOKYO – Japan will take time to phase out Russian oil imports after agreeing on a ban with other Group of Seven (G7) nations to …
China oil imports rebound in April, but weak fuel demand weighs on refiners
By Chen Aizhu SINGAPORE – China’s crude oil imports grew nearly 7% in April from the same month a year earlier, its first rise in …
EU edges towards oil sanctions on Russia, no deal yet
BRUSSELS – European Union governments moved closer on Sunday to agreeing tough sanctions against Russia that include a ban on buying Russian oil, but scheduled …
Biden Copies Trump Proposal To Refill Oil Reserves — And Spends Way More Doing It
Biden Copies Trump Proposal To Refill Oil Reserves — And Spends Way More Doing It Thomas Catenacci on May 6, 2022 The Biden administration announced …
Exclusive-Guyana in ‘no rush’ to draft new oil production-sharing pact -minister
By Marianna Parraga HOUSTON – Guyana is in “no rush” to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources …
EU’s Borrell to call meeting next week if Russia oil embargo deal not forthcoming
FLORENCE, Italy – A meeting of European Union foreign ministers will be held next week should countries from the bloc fail to reach an agreement …
Malaysia end-April palm oil stockpile seen up after five months of falls
By Mei Mei Chu KUALA LUMPUR – Malaysia’s palm oil inventories at the end of April likely rose for the first time in six months …
Wells Fargo set emissions reduction targets for oil, gas, power clients
By Elizabeth Dilts Marshall and Ross Kerber NEW YORK/BOSTON – Wells Fargo & Co unveiled new targets to reduce greenhouse gas emissions, including goals to …
Analysis: Nigeria and Angola responsible for almost half of OPEC+ oil supply gap
By Alex Lawler, Julia Payne and Ron Bousso LONDON/LAGOS – Almost half the shortfall in planned oil supply by OPEC and its allies is down …
Democrats Urge Biden To Boost Oil, Gas Drilling Amid Energy Crisis
Democrats Urge Biden To Boost Oil, Gas Drilling Amid Energy Crisis Thomas Catenacci on May 5, 2022 A group of House Democrats wrote to President …
Venezuela’s oil exports fall 8% in April amid quality-linked delays -data
By Marianna Parraga and Mircely Guanipa (Reuters) – Venezuela’s oil exports fell 8% in April from the previous month amid continued delays linked to poor-quality …
Brazil’s government-owned oil sales to climb sharply, official says
By Sabrina Valle HOUSTON – Brazil’s direct sales of crude will more than double this year and rise sharply this decade, as oil majors deliver …
Canadian dollar seen rebounding as high oil price feeds trade surplus: Reuters poll
By Fergal Smith TORONTO – The Canadian dollar will claw back its recent decline over the coming year, as elevated oil prices bolster Canada’s trade …
‘We Will Be Harming Ourselves’: Europe Unveils Russian Oil Ban, Signaling More Pain For Consumers
‘We Will Be Harming Ourselves’: Europe Unveils Russian Oil Ban, Signaling More Pain For Consumers Thomas Catenacci on May 4, 2022 The head of the …
DIPLOMATIC FAIL: OPEC Once Again Rebuffs Biden’s Pleas For More Oil
DIPLOMATIC FAIL: OPEC Once Again Rebuffs Biden’s Pleas For More Oil Thomas Catenacci on May 4, 2022 The Organization of the Petroleum Exporting Countries (OPEC), …
Hungary, Slovakia to get end-2023 exception to Russian oil embargo – source
By Francesco Guarascio BRUSSELS – Hungary and Slovakia will be able to continue buying Russian crude oil until the end of 2023 under existing contracts, …
No let off to oil prices as Russia barrels disappear from market – BP CEO
LONDON – BP does not expect any let off in oil prices in the near term as the volume of Russian oil impacted by Western …
Biden Admin Says Oil Production Is At Historic Levels. But There’s One Problem
Biden Admin Says Oil Production Is At Historic Levels. But There’s One Problem Thomas Catenacci on April 29, 2022 Domestic crude oil production has sharply …
N. American oil companies scramble to find workers despite boom
By Liz Hampton, Stephanie Kelly and Nia Williams (Reuters) – When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he …
Amid sunflower oil shortage, Unilever substitutes rapeseed oil in some recipes
By Richa Naidu LONDON – As a shortage of sunflower oil ripples through the global food industry, Unilever said on Thursday that it has altered …