According to data sourced from Bloomberg, China’s imports of Russian energy rose to $27 billion after it hit a total of $68 billion since the Russian invasion of Ukraine. This is a significant increase from […]
An outage on the largest oil pipeline to the United States from Canada could affect inventories at a key U.S. storage hub and cut crude supplies to two oil refining centers, analysts and traders said […]
There is no doubt that 2022 has been an extremely challenging 12 months, but as the year draws to a close Wood Mackenzie sees hope. Spiraling energy costs and the impact of Russia’s war with […]
Introduction Houston, Texas-based Phillips 66 (NYSE: NYSE:PSX) released its third quarter of 2022 on November 1, 2022. Also, on November 9, 2022, the company held its “investor day 2022,” unveiling PSX’s strategy. Phillips 66 expects to return […]
The U.S. energy policy is clear about its intention to phase out fossil fuels. This has forced refiners to exercise caution in order to stay afloat. It has also resulted in a loss of U.S. […]
Europe is facing a mounting diesel crisis as a strike at one of the largest refineries on the continent begins, reported Bloomberg. The combination of a labor action – depleted crude product stockpiles – and […]
SINGAPORE, Nov 14 (Reuters) – Chinese refiners are slowing down Russian crude purchases in December and paying lower premiums in the face of imminent European Union sanctions and uncertainty surrounding the G7’s plan to cap […]
Phillips 66 plans to cut more than 1,100 jobs to achieve its $500m cost savings target in 2022, Reuters reported. Phillips spokesperson Bernardo Fallas was quoted by the news agency as saying: “These reductions were communicated to employees […]
Authored by Julianne Geiger via OilPrice.com, U.S. energy executives told Jennifer Granholm that shuttered crude oil refineries won’t restart, Valero’s Chief Executive Joe Gorder said on Tuesday. The comments were made to the U.S. Energy […]
Exxon Mobil Corp XOM on Thursday agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc PPARR for $310 million. The sale ends a years-long effort by the U.S. oil giant to further […]
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