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Home2022June

Month: June 2022

UK
Energy Policy

Signs of windfall tax damage to UK industry emerging, says Offshore Energies UK

June 22, 2022 Mariel Alumit

The UK government’s new windfall tax, imposed on companies supplying the nation’s oil and gas, may already be undermining the major investments need to keep Britain’s lights on, Offshore Energies UK has warned. It follows […]

global pandemic
Downstream

Factbox: Which U.S. refineries have shut since the global pandemic, and why?

June 22, 2022 Mariel Alumit

June 17 (Reuters) – Since the onset of the global pandemic, the United States has lost nearly 1 million barrels per day of oil refining capacity, with more set to be shuttered in the next […]

China's
Crude Oil News

China’s Geopolitical Pivot Could Have Huge Ramifications For Oil

June 22, 2022 Mariel Alumit

Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed a new directive that gives […]

Russian Oil Is Reaching More Corners of China’s Refining Sector
Crude Oil News

Russian Oil Is Reaching More Corners of China’s Refining Sector

June 22, 2022 Stu Turley

Cheap Russian oil is finding its way into more corners of China’s refining industry, with buyers from coastal and inland regions snapping up cargoes that the US and Europe can’t touch. Chinese companies registered in […]

Gas station in New York -NYT
Commodities

Biden Will Push Congress for a Three-Month Gas Tax Holiday

June 22, 2022 Stu Turley

President Biden plans to call on Congress on Wednesday to temporarily suspend the federal gas tax, an effort to dampen the soaring fuel prices that have stoked frustration across the United States. During a speech on […]

Crude Oil News

Chinese Oil Demand in Recovery but Further Russian Supply Disruptions Loom, ANZ Bank Says

June 22, 2022 Stu Turley

Crude oil demand could be picking up again in China, but the market remains wary of increasing disruption to Russian supplies, Australia’s ANZ Bank said in a Wednesday note. Oil trader Vitol said Chinese demand […]

No Picture
International News

Jindal Power to buy Simhapuri power plant for about INR300 cr

June 22, 2022

JPL will acquire the power plant in Andhra Pradesh’s Nellore district for around INR300 crore and the deal is likely to be sealed in over a week, they said. JPL did not respond to an […]

Biden Says He Is Near Decision on Backing Federal Gasoline-Tax Holiday
Commodities

Biden Says He Is Near Decision on Backing Federal Gasoline-Tax Holiday

June 21, 2022 Stu Turley

President Biden said Monday that he may make a decision within days on seeking a pause to the federal gasoline tax, as Americans deal with soaring gas prices. Mr. Biden told reporters in Rehoboth Beach, Del., that […]

Solar
Finance

Leading US Solar Companies Announce Consortium to Spend over $6 Billion on Solar Modules and Support Expansion of Domestic Supply Chain

June 21, 2022 Mariel Alumit

AES, Clearway Energy Group, Cypress Creek Renewables, and D.E. Shaw Renewable Investments form buying consortium to purchase 6-7 GW of crystalline silicon solar modules annually to encourage the rapid scaling of domestic solar manufacturing in the […]

U.S. renewable diesel
Renewables Not Sustainable

Surge in U.S. renewable diesel supply won’t offset loss of petroleum diesel

June 21, 2022 Mariel Alumit

June 21 (Reuters) – A flood of U.S. renewable diesel plants set to come online in the next three years will not be enough to offset the loss of petroleum diesel refining capacity from plant […]

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