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IHS CERAWeek: Mexico to expedite new rules enabling fuel imports

HP News Services, HP Editorial Staff

President Enrique Pena Nieto is pushing forward the gradual opening of the country's retail fuel sector, with private firms able to import gasoline and diesel beginning in April.

US gasoline demand surges as cheaper prices spur record driving

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Steadily declining gasoline prices and a growing number of jobs have encouraged record driving use in the US, which accounts for about 10% of gasoline demand globally.

As US shale sinks, pipeline fight sends woes downstream

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By Tom HalsWILMINGTON, Del., Feb 22 (Reuters) -- Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit US oil and gas producers this ..

BP announces 3,000 downstream job cuts as earnings decline

HP News Services, HP Editorial Staff

BP will eliminate 3,000 jobs from its downstream division by the end of 2017. Those reductions are on top of 4,000 cuts in its oil and gas production unit announced last year.

Global trade slowdown hits refining margins at bottom of the barrel

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Sluggish global trade growth is reducing demand for major freight-related fuels, which are currently showing the lowest demand, biggest increase in stocks and weakest prices.

DuPont doubles down on cost cuts ahead of merger with Dow Chemical

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DuPont says it is now targeting cost cuts of $730 million in 2016, with annual savings adding up to $1 billion. Those new projections are higher than figures stated in December.

Russia strengthens position as crude supplier to Chinese refiners

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By Chen AizhuBEIJING, Jan 26 (Reuters) - Russia beat out Saudi Arabia as China's top crude oil supplier for the fourth month in 2015 in December due to robust demand from independent Chinese refiners ..

Meet the downstream Chinese newcomers staking a claim to global oil trading

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By WINNIE ZHU, SERENE CHEONG, JING YANG and SARAH CHENBloombergChina is forecast to overtake the US as the world’s biggest crude importer in 2016, and that’s largely thanks to a group of buy..

Weak oil markets prompt Saudi leaders to make quicker decisions

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By BEN HOLLANDBloombergSaudi Arabia, one of the most tradition-bound societies on the planet, where family structure and tribal patriarchy differ little from a century ago, is suddenly in a hurry. It ..

US to export light, sweet crudes to Europe as US Gulf refiners target heavier grades

HP News Services, HP Editorial Staff

By SHEELA TOBBENBloombergThe days of empty oil tankers leaving the Houston Ship Channel are over.Now that the US has ended crude export restrictions after 40 years, tankers bringing crude oil to Houst..