Hydrocarbon Processing bp Energy Outlook: Two main scenarios see 2025 oil peak, rapid renewables growth bp expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 the company published on Wednesday. Gulf Energy Information appoints Catherine Watkins as Chief Commercial Officer to drive market expansion Gulf Energy Information (Gulf), a premier B2B media company in the global energy sector, proudly announces the transition of Catherine Watkins from Chief Financial Officer (CFO) to Chief Commercial Officer (CCO), effective immediately. This strategic transition aligns with Gulf’s commitment to expanding market share and driving sales growth across key markets. U.S. seeks up to 4.5 MMbbl for strategic petroleum reserve The U.S. Department of Energy (DOE) said on Wednesday it is offering to buy up to 4.5 MMbbl of oil to help replenish the Strategic Petroleum Reserve (SPR), though oil prices are now higher than the target price it wants to make such purchases. U.S. West Coast refinery margins slump despite reduced capacity U.S. refiners are making less money turning crude oil into fuels on the West Coast as the region's gasoline inventories grow and the use of biofuels increases. OPEC sticks to 2024 oil demand view, sees strong travel season OPEC is sticking to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months. EIA: Global oil market will be in supply deficit next year Global oil demand will outpace supply next year, the U.S. Energy Information Administration (EIA) said on Tuesday, reversing a prior forecast for a surplus. Update: Power outages hinder Hurricane Beryl recovery, delay port, infrastructure restarts About 1.7 MM customers remained without power in Texas on Wednesday morning, two days after Hurricane Beryl made landfall, as progress was slow during the night, hampering efforts to restore critical oil infrastructure. Oil companies, refineries in Texas restoring operations following hurricane Beryl Oil and gas companies in Texas were restarting operations on Tuesday after Hurricane Beryl lashed the state with 80-mph winds, damaging property and leaving millions of people without power. Marathon prepares Galveston Bay, Texas refinery units for restart Marathon Petroleum Corp. began preparing on Monday to restart multiple units at its Galveston Bay oil refinery in Texas City, Texas, following a power outage earlier in the day. Hurricane Beryl knocks out power as it churns across Texas, slows refinery activities, impels port closures Hurricane Beryl lashed Texas with strong winds and heavy rain on Monday as it churned inland, forcing the closure of oil ports, cancellation of hundreds of flights and leaving nearly 2 MM homes and businesses without power.