Economics
The downstream rundown: In case you missed it 6/10
In case you missed any downstream news, this piece will give you a summary of some of the top stories from last week.
U.S. average gasoline prices reach $4.85 per gallon in early June, more than anticipated
U.S. gasoline prices surged in early June 2022 from a week earlier by over a quarter of a dollar during a spring holiday known as Memorial Weekend that took the average fuel pump reading nationwide to about $4.85 per gallon.
Saudi cuts crude supply to some Chinese refiners in July, sources say
Saudi Aramco has notified at least five North Asian refiners, mostly Chinese, that it will be supplying less than contracted volumes of crude oil in July.
High fuel prices could erode public support for energy transition, Chevron CEO says
Europe's plan to double down on renewable fuels in response to rising fuel costs could have the unintended short-term effect of increasing prices and slow down the energy transition, Chevron Corp Chief Executive Michael Wirth said.
U.S. commercial crude stocks build, SPR posts record drawdown as refiners ramp up
U.S. commercial crude oil inventories rose unexpectedly last week, while crude in the Strategic Petroleum Reserve fell by a record amount as refiners ramped up production to pre-pandemic levels.
Croatia ready to increase Adriatic oil pipeline capacity, Hungary says
Croatia is ready to increase the capacity of the Adriatic oil pipeline to supply Hungary and Slovakia with crude in case of any disruptions to imports from Russia via the Druzhba pipeline.
GE Digital achieves AWS energy competency status
GE Digital, the leading software innovator enabling the power generation and energy industries announced that it has achieved Amazon Web Services (AWS) Energy Competency status.
Oil tops $120 a barrel on Saudi pricing despite OPEC+ deal
Oil prices were largely unchanged after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts a higher output target for OPEC+ oil producers would ease tight supply.
The downstream rundown: In case you missed it
In case you missed any downstream news, this piece will give you a summary of some of the top stories from last week.
Slovakia says hardest hit by Russia oil sanctions, expects solidarity
Slovakia said on Friday it would be hardest hit by European Union sanctions on Russian oil and it expected solidarity from Brussels to mitigate the impact.
- NAPCOR releases 2024 PET recycling report highlighting system efficiency gains and continued strength of PET circularity 12/12
- OQ courts other partners for petrochemical complex in Oman as SABIC drops out 12/12
- Brazil's BNDES approves $71 MM for carbon storage project 12/12
- Cuba on edge as U.S. seizure of oil tanker puts supply at risk 12/12
- China oil demand to plateau between 2025 and 2030 12/12
- Germany's PCK refinery says no impact from pipeline leak 12/12
