Economics
U.S. distillate stocks fail to make summer recovery amid refinery outages
U.S. diesel, heating oil and jet fuel stockpiles have failed to recover from the 10-year lows hit last year when high prices caused the Biden administration to consider a ban on fuel exports, leaving the markets vulnerable to supply shocks when demand picks up toward the end of the summer.
Engie, Air France and CMA-CGM partner on renewable industrial fuels
French energy provider Engie said it was partnering with Air France and CMA CGM on two projects to develop alternative industrial fuels, contributing to France's transition to green energy.
Investment will further advance commercialization of renewable hydrogen and SAF from biomass and waste
RockCreek announced the closing of an investment in Raven SR, Inc., a company that produces high-value renewable transportation fuels from a variety of feedstocks, including waste streams, using a proprietary non-combustion process.
Bumpy road ahead for U.S. gasoline demand and energy transition
While U.S. gasoline demand is unlikely to rescale the pre-pandemic peaks of 2018 as the energy transition accelerates, the pace of its decline is uncertain, illustrating the challenge for industry and the government in planning the shift to a low-carbon economy.
Russia may limit number of oil product exporters
Russia is considering limiting the number of companies allowed to export oil products in a bid to curb illegal exports of fuel intended for the domestic market, the Energy Ministry said.
U.S. to spend $700 MM for oil and gas sector to cut methane emissions
The U.S. government will provide up to $700 MM in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies said.
U.S. fuel maker profits to fall from last year's records
U.S. refining profits are expected to fall from last year's records but remain strong as domestic refining outages and increased foreign competition pose challenges.
Canada releases framework to phase out inefficient fossil fuel subsidies
Canada released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalize and phase out government support for the sector.
G20 bloc fails to reach agreement on cutting fossil fuels
The Group of 20 (G20) major economies meeting in India failed to reach consensus on phasing down fossil fuels following objections by some producer nations.
Chinese petchem firms betting big on energy transition products
Chinese oil refiners and petrochemical companies are investing tens of billions of dollars to produce high-end chemicals for solar panels and lithium-ion batteries to profit from growing demand for energy transition technologies.
- Methanex and Entropy partner to reduce emissions in methanol production 7/18
- Abraxas Power awards McDermott ECI contract for Canada's first green ammonia plant 7/18
- ClearSign Technologies to install 26 burners at U.S. Gulf Coast chemical facility 7/18
- CF Industries, POET to demonstrate use of low-carbon ammonia fertilizer to reduce carbon intensity of corn production and ethanol 7/18
- Evolution in the rapid, onsite detection of microbial contamination in diesel fuel 7/18
- U.S. crude stocks fall, gasoline and distillate inventories rise 7/18
- Digital Exclusive: SPECIAL FOCUS: Digital Technologies—Utilize process simulation digital twin to optimize condensate yield
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- Alarm rationalization at Kuwait National Petroleum Company (KNPC) refineries
