Gasoline

Hungary fuel price cap could lead to shortages

Hungary's cap on fuel prices should be lifted because it will lead to shortages "sooner or later", the CEO of Hungarian oil and gas company MOL said.

The downstream rundown: In case you missed it 7/8

In case you missed any downstream news, here are the top stories from last week.

Exxon profit set to soar again; White House wants more oil

Wall Street analysts sharply increased their ExxonMobil Corp second-quarter profit estimates after the largest U.S. oil producer projected it could almost double its first-quarter earnings.

Oil from U.S. reserves sent overseas as gasoline prices stay high

More than 5 MM barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month.

Technip Energies wins EPC contract by Hafslund Oslo Celsio for a CCS project at waste to energy plant in Norway

Technip Energies has been awarded a large EPC contract by Hafslund Oslo Celsio, the largest supplier of district heating in Norway, for a world-first carbon capture and storage (CCS) project at waste to energy plant located in Oslo, Norway.

India to drop windfall tax if oil prices fall $40 a barrel

India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels.

Venezuela's second largest refinery suspends gasoline production

Venezuela's state company PDVSA has suspended gasoline production at the country's second largest refinery due to an outage at its reformer.

Strike underway at Exxon refinery in France

Workers at Exxon's Esso refinery in Fos-sur-Mer in southern France have gone on strike demanding higher wages.

Braskem Idesa announced partner for new $400 MM Mexico ethane terminal

Braskem Idesa´s new partner in a $400 MM investment in an ethane import terminal in Mexico will be Advario, part of the storage and logistic infrastructure company Oiltanking.

Japan's gasoline demand almost at pre-pandemic levels after subsidy

The head of the Petroleum Association of Japan (PAJ) said the country's subsidies for gasoline had helped restore demand close to pre-pandemic levels in May and June.