Economics

California (U.S.) governor drives out refiners then pleads for reliable fuel supplies

California (U.S.) Governor Gavin Newsom has directed state officials to step up efforts to guarantee reliable fuel supplies for the nation's biggest auto market, prompting oil companies to blame state policies for difficult business conditions and high pump prices.

TotalEnergies to boost SAF and hydrogen production at Antwerp

Japan to lower gasoline prices and implement energy subsidies

Japanese Prime Minister Shigeru Ishiba said the government will slash gasoline prices by 10 yen ($0.0713) per liter from May 22 as part of measures to curb rising energy prices.

South Korea to implement smaller fuel tax cuts from May

Tax breaks will be extended until the end of June, with the rate adjusted to 10% for gasoline, from the current 15%, and that for diesel and liquefied petroleum gas butane to 15% from 23%.

BASF completes divestment of shares in its two joint ventures in Korla, China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co. Ltd. and Markor Meiou Chemical (Xinjiang) Co. Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.

Egypt begins basic design phase for Red Sea Petrochemical Complex project in Ain Sokhna

Egypt's Ministry of Petroleum and Mineral Resources announced the signing of contracts for the Egyptian-Chinese joint venture contractor to implement the basic designs for the first phase of the Red Sea Petrochemical Complex project in Ain Sokhna, Egypt. 

China-U.S. trade war redrawing global LPG trading, outlook

The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.

Kazakhstan raises gasoline exports plans to 54,283 tons in April

Kazakhstan plans to export 40,000 metric tons of Ai-92 gasoline this month from the Shymkent oil refinery amid plentiful stockpiles, the energy ministry's exporting schedule showed. This would be on top of 14,283 tons already allocated for export from the Condensate refinery.

Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight

Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66's rivals.

More than 100 employees leave U.S. EIA, putting crucial energy data at risk

The U.S. government's energy statistics arm is set to lose > 100 employees after the Trump administration's latest round of resignation offers, putting at risk some of the most closely watched energy reports globally.