Diesel futures surged to a seven-month high in New York after Marathon Petroleum Corp. said it was shutting the third largest US oil refinery following a blaze at a storage tank. The fire at the Garyville refinery in south […]
(Reuters) U.S. refiner Marathon Petroleum Corp reported a 63% drop in second-quarter profit on Tuesday, as improved fuel supplies and slowing economic activity compressed its margins. Despite resilient fuel demand in the U.S., an increase […]
After lagging for most of this year, the energy sector made a strong comeback on oil price surge. Oil price logged in the best month since January 2022 with crude oil rising more than 15% […]
Saudi Aramco said on Friday it had completed the purchase of a 10% stake in a Chinese petrochemical firm for the equivalent of $3.4 billion as the Saudi oil giant continues to expand its downstream footprint in […]
(Reuters) – A group of refiners plan to file a lawsuit challenging the Biden administration’s rejection of waivers to exempt oil refiners from biofuel blending mandates which has left some on the hook for hundreds […]
It was a week when oil prices moved up while natural gas futures marked a loss. On the news front, the headline came from liquefied natural gas supplier Cheniere Energy’s LNG long-term agreement with a China-based […]
Oil and gas will remain leading sources of energy for decades to come, major industry players echoed during the inaugural Energy Asia conference. “Energy transition is going to take a lot longer, it’s going to […]
HOUSTON, June 21 (Reuters) – U.S. crude oil refining capacity has reversed two years of declines and climbed by more than 100,000 barrels, to 18.1 million barrels per day (bpd), according to a government report […]
WASHINGTON (Reuters) – Chinese hackers are all but certain to disrupt American critical infrastructure, such as pipelines and railways, in the event of a conflict with the United States, a senior U.S. cybersecurity official said […]
Australia-based engineer-contractor Worley said May 30 it has completed the sale of its North American unit for refinery and petrochemical plant turnaround and maintenance services to Canada-based CAM Industrial Solutions—as it continues a push into […]
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