Economics
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.
U.S. crude, fuel stockpiles fall in tight market
U.S. crude oil and fuel stockpiles fell last week, as demand continued to outstrip supply, with commercial crude inventories drawing down even as more strategic reserves entered the market.
Slovak refiner says sanctions plan will halt exports, threaten operations
Slovnaft, a unit of Hungary's MOL, said that planned sanctions on Russian oil would in their current form ban oil product exports after 8 months from Slovnaft to its key markets in central Europe such as the Czech Republic, Austria and Poland.
Brazilian president may need months to replace Petrobras management
Brazilian President Jair Bolsonaro has intensified his calls to shake up the board and management of state-run oil company Petrobras.
Committee to decide fate of idled refinery
An advisory committee will decide the future of a 209,000-barrel-per-day refinery that remains idled amid sanctions on the operator.
Tanzania increases fuel prices due to rising crude costs
DAR ES SALAAM (Reuters) — Tanzania's energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday, citing rising international crude oil prices.
US tax overhaul likely to spur spending by refiners, pipeline cos
NEW YORK (Reuters) — US refiners and pipeline companies are likely to embark on a capital spending spree in the next year, fueled by a provision in the recently-passed US tax bill that rewards investment in new projects, said energy industry lobbyists and analysts.
Nigerian motorists queuing for fuel told there are no shortages
ABUJA (Reuters) — Nigeria’s state oil company assured motorists on Tuesday there was no shortage of petrol and urged them not to engage in panic buying after long queues built up at filling stations.
- Sherwin-Williams unveils new advanced energy barrier that eliminates threat of corrosion under insulation 6/26
- SIBUR develops new polyethylene grade for beverage packaging 6/26
- IGS launches Rovex, a next-generation robotic cleaning technology for fired heater efficiency 6/26
- A comprehensive technical evaluation of polypropylene technology platforms 6/26
- Sasol and Topsoe to refocus SAF partnership as Zaffra JV prepares for wind-down 6/26
- Indonesia sets 3-month transition period for B50 biodiesel program 6/26
