Category: Downstream

What Does Mozambique and California Have in Common? Rising Diesel Prices on the Horizon as Both Depend on Imports Tied to the Strait of Hormuz

Clark Savage823

In a striking parallel amid the ongoing U.S.-Israel conflict with Iran, two distant regions—sub-Saharan Africa’s Mozambique and the U.S. West Coast’s California—are facing acute fuel supply pressures. Both heavily rely on petroleum products whose supply chains trace back to the Strait of Hormuz, the critical chokepoint through which roughly 20-25% of global seaborne oil and […]

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Goldman Says Global Oil Stocks Approaching Eight-Year Low, Depletion Speed a Concern

Clark Savage2560

Global oil inventories are rapidly approaching their lowest level in nearly eight years, according to a new analysis from Goldman Sachs. The investment bank warned that the pace of depletion has become a major concern amid ongoing supply disruptions, particularly restrictions on flows through the Strait of Hormuz. Goldman estimates that total global oil stocks […]

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California’s Self-Inflicted Energy Disaster: Steve Hilton, Chris Wright Slam Dems With The Truth

Clark Savage501

ENB Pubnote: This article was run on David Blackmon’s Energy Additions Substack, and we highly recommend subscribing. This morning on Mornings with Maria, Secretary Chris Wright hit it out of the park, and we will have that information out later. California is a self-imposed energy island with a crisis brewing, and Secretary Wright is spot […]

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Chevron Reports Strong Q1 2026 Earnings Beat Amid Geopolitical Volatility and Temporary Hedging Charges

Clark Savage1447

Chevron Corporation (NYSE: CVX) delivered a solid first-quarter performance, beating analyst expectations on adjusted earnings per share despite a year-over-year decline in reported profits, ongoing Middle East disruptions tied to the Iran conflict, and significant one-time timing effects from financial hedges. The results highlight the resilience of Chevron’s diversified portfolio, record U.S. production growth, and […]

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Phillips 66 Beats Q1 Estimates by $.88 Per Share as Refining Margins Surge

Clark Savage756

Houston-based integrated energy company Phillips 66 (NYSE: PSX) delivered a solid first-quarter 2026 earnings beat, reporting adjusted earnings of $0.49 per share—surpassing Wall Street consensus estimates of a $0.39 per share loss by $0.88. The company posted net income of $207 million, or $0.51 per diluted share on a reported (GAAP) basis. Strong refining operations, […]

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Farm Bill Amendment Pits Big Refiners Against Smaller Operations. Is It Time to End Ethanol?

Clark Savage651

A controversial amendment to the 2026 Farm Bill is lighting up Capitol Hill, pitting big refining interests against smaller operations in a classic Washington showdown over the Renewable Fuel Standard (RFS) and ethanol mandates. Rep. Michelle Fischbach (R-MN) introduced Amendment 289, which would force year-round nationwide sales of E15 (15% ethanol gasoline) by aligning its […]

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