U.S. Energy Secretary Jennifer Granholm is expected to meet with refining executives on June 23 as tensions between the White House and the oil industry mount over soaring gasoline prices.
Mexican President Andres Manuel Lopez Obrador said Wednesday that a new refinery owned by state-run Petroleos Mexicanos (Pemex) will reach full operating capacity by next year, despite industry experts saying it will take until at least 2024.
The move to combine the businesses is expected to give potential investors a better sense of the scale of Aramco's trading and would also allow the state oil producer to simplify financial reporting and cut duplication.
U.S. President Joe Biden demanded oil refining companies explain why they are not putting more gasoline on the market, sharply escalating his rhetoric against industry as he faces pressure over rising prices.
SAF has been safely delivered to New York’s LaGuardia Airport through the Colonial and Buckeye pipeline systems – two essential pieces of American energy infrastructure.
Chevron Corporation completed its previously announced acquisition of Renewable Energy Group, Inc. following approval by REG stockholders.
Idemitsu Kosan plans to cut its capacity by 13% in less than two years as the ageing and shrinking population in Japan and the global shift to greener energy eats into household demand for petroleum.
Oil prices slipped more than $2 on Monday as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand, while worries about global inflation and economic growth further depressed the market.
U.S. President Joe Biden is looking at ways to bring in more oil supplies amid rising energy costs, including working to address oil refinery capacity.
Iran and Venezuela, oil producers grappling with crippling U.S. sanctions, signed a 20-year cooperation plan in Tehran, with the Islamic Republic's supreme leader saying the allies would continue to resist pressure from Washington.