ConocoPhillips, JERA Propose to Develop US Hydrogen Gas Plant
Gulf Coast plant would produce hydrogen from gas and convert it to ammonia for export.
US Gasoline Futures Fall to Pre-Ukraine Invasion Levels
Lack of spare refining capacity pushed costs for refined products higher, but headed into winter, gasoline prices have started to retreat as demand dips.
US Energy Secretary Urges Refiners Not to Increase Fuel Exports
Energy Secretary Jennifer Granholm, in a letter sent Aug. 18, urged seven refiners including Valero, Exxon Mobil and Chevron, to build supplies of fuels as the U.S. enters peak hurricane season.
Britain Imports No Fuel from Russia in June for First Time on Record
Russia was the U.K.’s largest supplier of refined oil in 2021, the ONS said. By June, there were no imports of refined oil, crude oil, gas or coal, coke and briquettes from Russia.
US Crude, Fuel Stockpiles Shrink While Gasoline Demand Drops: EIA
The crude oil inventory decline would have been larger if not for another big release of barrels from U.S. Strategic Petroleum Reserve (SPR).
US Oil Refiners Aim to Run Fullbore, Spurning Recession Fears
“Refiners will continue to run hard in Q3,” Tudor, Pickering, Holt refining analyst Matthew Blair said in a note this week, adding he would not be surprised “if Q3 runs weren't higher” than June given past conservative forecasts.
Indian Ship Used to Move Russian-linked Fuel to New York Discovered
“The refined output was put back on that ship and it set sail without a destination. In the mid-seas it received the destination so it reached at its course, went to New York,” India Deputy Governor Michael Patra said at an event to celebrate 75 years of India’s independence.
US Crude, Gasoline Stockpiles Rise Unexpectedly: EIA
“There’s nothing good in this report for anybody unless you’re waiting for things to fall apart and to be a buyer on the downside,” Bob Yawger, director of energy futures at Mizuho, said of the EIA report.
US Crude Stockpiles Dip, Gasoline Builds as Demand Slackens: EIA
“The demand destruction is only still two weeks but sufficient to say it’s there. That's the big takeaway,” analyst John Kilduff, said after U.S. gasoline inventories posted a larger-than-expected build on weakened demand.
US Refiners Step Up Imports of Gasoline-friendly West African Crude
West African imports spiked in May with 5.2 million barrels being discharged in the U.S., more than doubling from April. Light oil, like that from West Africa, typically produces a greater percentage of gasoline than heavy oil.