Overturned oil tanker carrying diesel fuel shuts down US 9 in Lakewood
LAKEWOOD, N.J. — An overturned tanker carrying thousands of gallons of diesel fuel has shut down all lanes of U.S. Route 9 in both directions north of James Street in Lakewood Township…
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 administration appeared to reverse its previous position…
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 to the greenback and giving analysts confidence…
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 Prince Faisal bin Farhan Al Saud said…
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 firm Vortexa showed, as traders struggled to…
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% in order to ensure the country’s energy…
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 not have had to loosen sanctions on…
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 The American Petroleum Institute (API), a leading…
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 gallons petroleum product (oil, diesel fuel, etc.)…
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 monthly volume since May 2020, according to…
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 to include comment from a Department of…
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 Widodo said on Thursday. The decision to…
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, the highest in seven months according to…
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 announce it would ease sanctions on Venezuelan…
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 a government coalition partner as he seeks…
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 in a bid to flood the domestic…
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 barrels per day) in the first half…
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 refiners slashed operations on weaker demand due…
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 seeks to enforce a ban on exports…
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 on a cargo of Iranian condensate and…
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 oil and gas lease sales late Wednesday…
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 years, Canadian banks have increased the amount…
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 refiners there scrambled to replace Russian crude…
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 of reach until Brussels offers a “solution”…
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 India, the world’s top buyer of the…
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 refining capacity, a spokesman said on Tuesday,…
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