Economics
Germany triggers EU investigation into Chinese biofuels
Germany has asked the European Commission to investigate the flow of allegedly fraudulent biofuels into the European Union, a spokesperson for the German Environment Ministry said, stepping up scrutiny on trade in the fuel that has rattled the industry.
Russian oil supplies to EU via southern Druzhba to rise 16% in June
Russia's piped supply of Urals crude to the European Union via the southern Druzhba pipeline in June is set to increase by 16% compared to May as EU refiners seek to secure more oil amid fears of disruptions in transit via Ukraine.
Aramco, ENI, United Airlines invest in UK-based low-carbon fuel venture
The venture units of oil firms Saudi Aramco and Italy's ENI have joined the world's largest passenger carrier United Airlines to invest in British start-up OXCCU's efforts to slash the prohibitively high cost of lower-carbon aviation fuel.
U.S. EPA to remove proposed EV volumes from biofuel blending rule
The Biden administration will abandon a proposal to include the electric vehicle industry in the U.S. biofuel blending program and withdraw potentially billions of dollars worth of tradable credits that had been attributed to the scheme.
BASF increases alkoxylates production capacity in Europe
BASF is gradually bringing additional alkoxylation capacity on stream in Antwerp, Belgium, and Ludwigshafen, Germany, from the second quarter of 2023.
Russia's Sakhalin invites India and China to tap energy resources
The local governor of Russia's Pacific island of Sakhalin has invited companies from India and China to tap the region's energy resources following the departure of European and American oil and gas majors.
Airlines urge co-operation to help curb emissions
Airlines called for co-operation on a broad front to reach "very tough" emission targets and pledged at the end of a three-day summit to release interim climate targets next year.
Oil prices steady as economic fears offset Saudi output cut
Oil prices were little changed after erasing earlier losses as worries over sluggish global economic growth that could reduce energy demand offset Saudi Arabia's pledge to deepen output cuts.
U.S. diesel demand is falling despite economic growth
U.S. diesel demand will drop through 2024 despite growing economic activity, extending a recent break from tradition where demand for the freight fuel grows with GDP, the Energy Information Administration forecast.
Kazakhstan’s oil output drops 3% in May vs April to 1.55 million bpd
Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day, Reuters calculations based on data from two sources familiar with preliminary data showed.
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