Economics

EU proposes 21st package of sanctions against Russia, targeting banks, refiners, traders, LNG

The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners.

EIA: U.S. jet fuel production rises after prices doubled in March

Higher crude oil prices and supply concerns, particularly in Europe and Asia, which previously imported much of their jet fuel supply from the Persian Gulf, have driven up jet fuel prices.

Indian companies willing to deepen presence in Venezuela

New Delhi was the second-largest importer of Venezuelan oil in May, with purchases of 427,000 bpd.

AFPM suing U.S. EPA over RFS ‘Set 2 rule,’ the administration’s most expensive regulation

DNV announces financial close of $650-MM H2 fertilizer project in Paraguay

The $650-MM project is one of the world's first industrial-scale green fertilizer plants to be financed in a non-recourse basis, a standalone, asset-backed financing structure where lenders look only to the project itself for repayment.

JM to acquire Cormetech, materially enhancing scale in clean air solutions

Under the terms of the transaction, JM will acquire Cormetech for an enterprise value of $360 MM payable in cash on completion, which represents a 10.3x acquisition multiple based on Cormetech's expected 2026 EBITDA.

Petrovietnam says supertanker with Iraqi oil arrives at refinery port

Digital Exclusive: Margin left on the table: The hidden cost of supply chain capability gaps in hydrocarbon processing—Part 1

U.S. gasoline market set for fresh test after near-record stock draws

U.S. gasoline prices have already jumped by 50% to close to four-year highs since the U.S. and Israeli war against Iran began on February 28, and currently average around $4.33 per gallon.

China's crude oil imports slump, but it's economics not altruism

The collapse in China's imports is being framed in media and market commentary as helping Asia adjust to the loss of at least 10 MMbpd of crude from the effective closure of the Strait of Hormuz.